SUNation Energy, Inc. SUNE
SUNation Energy, Inc. (herein referred to as "SUNation Energy," "SUNE," "our," "we" or the "Company") is focused on growing leading local and regional solar, storage, and energy services companies nationwide. The SUNation Energy vision is the provision of exemplary client service while powering the energy transition through grass-root, community-centric growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services. SUNation Energy, Inc.'s markets are New York and Hawaii, and the company operates proudly within two U.S. states.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $71.9M | $56.9M | $79.6M | $27.5M | $38.2K | $8.1M | $50.9M | $42.4M | $82.3M | $99.4M |
| Cost of revenue | $44.4M | $36.4M | $51.9M | $20.1M | $4.6M | $5.8M | $28.7M | $24.7M | $61.5M | $72.8M |
| Gross profit | $27.5M | $20.4M | $27.7M | $7.4M | $38.2K | $2.3M | $22.2M | $17.6M | $20.8M | $26.6M |
| R&D | — | — | — | — | — | $2.8M | $3.6M | $3.5M | $3.6M | $5.4M |
| SG&A | $27.0M | $27.1M | $29.1M | $12.2M | $1.1M | $7.1M | $22.2M | $22.4M | $28.7M | $35.2M |
| Total operating expenses | $29.2M | $32.7M | $35.2M | $17.8M | $4.9M | $7.9M | $22.2M | $22.4M | $32.6M | $31.0M |
| Operating income | -$1.7M | -$12.3M | -$7.5M | -$10.4M | -$4.9M | -$5.6M | $9.2K | -$4.8M | -$11.8M | -$4.5M |
| Interest expense | $1.0M | $3.1M | $2.7M | — | — | — | — | — | — | — |
| Pre-tax income | -$10.8M | -$15.8M | -$6.8M | -$3.3M | -$6.2M | -$4.7M | $235.3K | -$4.5M | -$11.9M | -$7.9M |
| Income tax | $51.1K | $34.8K | $119.2K | $12.2K | $24.6K | $14.6K | $15.3K | $404.4K | $34.5K | $256.9K |
| Net income | -$10.9M | -$15.8M | -$8.1M | -$10.4M | -$6.2M | -$171.7K | $6.5M | -$6.8M | -$11.8M | -$8.1M |
| EPS, basic | -4.38 | -10,110.93 | -611.55 | -4.04 | -2.03 | -0.02 | 0.70 | -0.75 | -1.32 | -0.92 |
| EPS, diluted | -4.38 | -10,110.93 | -611.55 | -4.04 | -2.03 | -0.02 | 0.69 | -0.75 | -1.32 | -0.92 |
| Shares, diluted (wtd. avg.) | $2.5M | $2.7K | $13.3K | $6.7M | $3.1M | $9.3M | $9.3M | $9.1M | $8.9M | $8.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $7.2M | $839.3K | $5.4M | $5.3M | $19.0K | $12.8M | $14.6M | $11.1M | $12.5M | $10.4M |
| Short-term investments | — | — | — | $2.7M | $135.2K | $2.8M | $9.4M | — | $5.5M | $5.8M |
| Receivables | $4.2M | $4.9M | $5.0M | $5.6M | $1.8M | $4.4M | $10.2M | $9.6M | $12.2M | $14.6M |
| Inventory | $2.5M | $2.7M | $3.6M | $6.1M | $194.5K | $136.3K | $8.5M | $12.0M | $14.0M | $22.2M |
| Total current assets | $16.5M | $11.1M | $15.8M | $26.0M | $19.0K | $35.8M | $49.4M | $42.3M | $45.5M | $55.4M |
| Property, plant and equipment | $1.0M | $1.2M | $1.5M | $1.2M | $140.8K | $304.8K | $8.2M | $8.8M | $12.6M | $15.7M |
| Goodwill | $17.4M | $17.4M | $20.5M | $20.5M | $2.1M | $2.1M | — | — | — | $1.5M |
| Other intangibles | $10.0M | $12.2M | $15.8M | $20.5M | $2.8M | $2.8M | — | $5.0K | $17.0K | $190.0K |
| Total assets | $48.2M | $45.7M | $58.2M | $74.7M | $2.8M | $55.6M | $59.2M | $53.3M | $58.1M | $73.2M |
| Accounts payable | $7.4M | $8.0M | $7.7M | $7.6M | $2.2M | $709.3K | $3.7M | $4.1M | $4.6M | $7.0M |
| Total current liabilities | $15.4M | $27.2M | $22.4M | $25.9M | $2.9M | $7.4M | $11.4M | $11.6M | $9.0M | $11.4M |
| Long-term debt | $6.6M | — | — | — | — | — | — | — | — | — |
| Retained earnings | -$53.8M | -$42.9M | -$27.1M | -$19.1M | -$8.7M | $4.1M | $4.6M | -$734.0K | $7.3M | $20.6M |
| Total equity | $24.3M | $8.5M | $20.4M | $27.2M | -$8.6M | -$2.5M | $47.4M | $41.7M | $49.2M | $61.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $955.0K | -$6.3M | -$667.2K | -$7.6M | -$811.0K | -$4.7M | $10.2M | -$4.7M | $3.6M | $1.2M |
| Depreciation and amortisation | $2.5M | $3.2M | $5.1M | $3.2M | $1.4M | $808.0K | $1.0M | $1.3M | $3.2M | $3.7M |
| Stock-based compensation | $85.2K | $29.0K | $1.2M | $309.2K | $100.0K | $463.3K | $412.8K | $190.7K | $417.5K | $631.9K |
| Capital expenditure | $48.6K | $32.8K | $655.7K | $116.9K | $35.0K | $169.0K | $425.0K | $694.0K | $773.0K | $2.3M |
| Investing cash flow | -$48.6K | -$26.7K | $3.6M | -$3.1M | $480.0K | $3.9M | -$5.2M | $4.8M | -$293.5K | $4.4M |
| Financing cash flow | $5.1M | $2.1M | -$2.8M | $15.9M | $350.0K | -$799.9K | -$1.5M | -$1.4M | -$1.4M | -$4.9M |
| Dividends paid | — | — | — | — | $34.0M | $563.9K | $743.3K | $1.5M | $1.5M | $4.6M |
| Buybacks | — | $6.1K | $38.4K | — | $4.8M | $354.9K | $1.4M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000022701-26-000003.
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