SUNation Energy Announces 2025 Third Quarter Results and Reiterates 2025 Full Year Financial Guidance

Q3 2025 Select Highlights

RONKONKOMA, N.Y., Nov. 10, 2025 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE) (the “Company”), a leading provider of sustainable solar energy and backup power to households, businesses, municipalities, and for servicing existing systems, today announced financial results for the third quarter ended September 30, 2025 (“Q3 2025”) and reiterated full year financial guidance for total sales and Adjusted EBITDA.

“Our third quarter results reflected increased residential demand for solar and battery storage due to sweeping changes in tax credits associated with the passage of the One Big Beautiful Bill Act (OBBBA) earlier this year,” said Scott Maskin, Chief Executive Officer. “This new legislation has accelerated near-term solar adoption in our markets, while dramatically changing and likely adding additional challenges to the long-term industry landscape. We are focused on the opportunities and continue to prepare for what lies ahead.

“We believe that our diversification across residential solar and storage, commercial, service, and roofing remains one of our greatest strengths. Combined with our geographic presence in states with the highest per-kilowatt-hour energy costs, we are well positioned to weather the turbulence created by the abrupt withdrawal of the 25D tax credit. While expansion and M&A opportunities continue to present themselves, our focus remains on executing what we do best - right here, in the markets we know best. We will continue to strengthen our foundation by adding adjacent services such as HVAC, with a focus on energy efficiency, by deepening relationships with our existing customers through expanded offerings, and building market share by offering maintenance, repair, and support services to owners of solar systems whose original installers have gone out of business or can no longer be reached. What we will not do is panic or fall victim to knee-jerk reactions. After 22 years of riding this solar coaster, we bring experience, confidence, and steady hands to this moment. Q1 2026 will be a transitional quarter that provides valuable insight into the state of the industry overall. Our product offerings are strong, energy costs continue to rise, and we’re well past the inflection point of adoption.”

James Brennan, SUNation’s Chief Financial Officer, said, “The benefits from our restructuring and debt reduction initiatives allowed us to capitalize on increased residential demand with efficiency and scale. For the third quarter of 2025, we generated higher sales and improved gross margin, significantly narrowed our losses, and produced $900,000 in Adjusted EBITDA. We also continued to strengthen our balance sheet; cash of $5.4 million at quarter end was the highest in three years and we have reduced debt by more than $11.0 million from December 31, 2024. As we continue to prepare for what we believe may be a dramatically changed business landscape 2026, we expect to end 2025 with a strong fourth quarter and remain confident in our ability to meet our full year financial guidance.”

Q3 2025 Financial Results Overview

Comparisons are to the third quarter ended September 30, 2024 (“Q3 2024”) unless otherwise noted

Financial Condition at September 30, 2025

REITERATES 2025 FINANCIAL GUIDANCE

Based on current business conditions and estimated outlook, the Company is reiterating its previously issued financial guidance for the full year ending December 31, 2025:

Guidance for full year 2025 is based on the Company’s current views, beliefs, estimates and assumptions. It does not include any potential impact related to, among numerous other potential events that are largely out of our control, such as current or future tariffs, global disruptions, broader industry dynamics, and legislative policy changes, which the Company is unable to predict at this time. All financial expectations are forward-looking, and actual results may differ materially from such expectations, as further discussed below under the heading " Forward-Looking Statements."

We are not able to provide a reconciliation of Adjusted EBITDA guidance for full year 2025 to net profit (loss), the most directly comparable GAAP financial measure, because certain items that are excluded from Adjusted EBITDA but included in net profit (loss) cannot be predicted on a forward-looking basis without unreasonable effort or are not within our control.

Q3 2025 CONFERENCE CALL

Management will host a conference call on Monday, November 17, 2025 at 9:00 am ET. Interested parties may participate in the call by dialing:

USA & Canada: (800) 715-9871

International: (646) 307-1963

Passcode: 7715344

The conference call will also be accessible via the Investor Relations section of the Company’s web site at https://ir.sunation.com/news-events or via this link: https://edge.media-server.com/mmc/p/sujaszqv.

About SUNation Energy, Inc.

SUNation Energy, Inc. is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots 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 largest markets include New York, Florida, and Hawaii, and the company operates in three (3) states.

Forward Looking Statements

Our prospects here at SUNation Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company's filings with the SEC which can be found on the SEC's website at www.sec.gov.

Contacts:

Scott Maskin

Chief Executive Officer

+1 (631) 350-9340

smaskin@sunation.com

SUNation Energy Investor Relations

IR@sunation.com

Non-GAAP Financial Measures

This press release also includes non-GAAP financial measures that differ from financial measures calculated in accordance with United States generally accepted accounting principles (“GAAP”). Adjusted EBITDA is a non-GAAP financial measure provided in this release, and is net (loss) income calculated in accordance with GAAP, adjusted for interest, income taxes, depreciation, amortization, stock compensation, gain on sale of assets, financing fees, loss on debt remeasurement, and non-cash fair value remeasurement adjustments as detailed in the reconciliations presented below in this press release.

These non-GAAP financial measures are presented because the Company believes they are useful indicators of its operating performance. Management uses these measures principally as measures of the Company’s operating performance and for planning purposes, including the preparation of the Company’s annual operating plan and financial projections. The Company believes these measures are useful to investors as supplemental information and because they are frequently used by analysts, investors, and other interested parties to evaluate companies in its industry. The Company also believes these non-GAAP financial measures are useful to its management and investors as a measure of comparative operating performance from period to period.

The non-GAAP financial measures presented in this release should not be considered as an alternative to, or superior to, their respective GAAP financial measures, as measures of financial performance or cash flows from operations as a measure of liquidity, or any other performance measure derived in accordance with GAAP, and they should not be construed to imply that the Company’s future results will be unaffected by unusual or non-recurring items. In addition, these measures do not reflect certain cash requirements such as tax payments, debt service requirements, capital expenditures and certain other cash costs that may recur in the future. Adjusted EBITDA contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and cash costs to replace assets being depreciated and amortized. In evaluating non-GAAP financial measures, you should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments in this presentation. The Company’s presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. Management compensates for these limitations by primarily relying on the Company’s GAAP results in addition to using non-GAAP financial measures on a supplemental basis. The Company’s definition of these non-GAAP financial measures is not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation.