Stardust Solar Energy (SUN) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was $637,349, down 47% year-over-year, reflecting a strategic shift toward higher-margin, recurring revenue streams.

• Gross margin improved to 59.2% from 42.2% in Q2 2025, driven by increased franchise and training revenue.

• Recurring and franchise-related revenue accounted for ~63% of total revenue, up from ~38% in the prior year.

• Operating expenses declined 14% year-over-year, with comprehensive loss improving by ~47% for the first six months.

• Strategic focus on franchise expansion, operational efficiency, and international growth initiatives.

Financial highlights

• Revenue decreased 47% year-over-year due to lower product sales and evolving revenue mix.

• Gross margin rose to 59.2% from 42.2% in Q2 2025.

• Training revenue increased 74%, with gross profit up 110%.

• Cash increased 26% from year-end; total assets up 16% to $1.55 million.

• Total liabilities declined 4%; working capital deficit narrowed by ~$181,000.

Outlook and guidance

• Accelerating strategic initiatives in financing, international expansion, and utility-scale renewable energy development.

• Lease-to-Own pilot launched, onboarding its first customer to expand access to solar and battery storage.

• Advancing flagship 30 MW Zambia solar project, which received final government approval post-quarter.

• Exploring expansion into Mexico and the Caribbean to tap new high-growth markets.