SUNE

Shares of SUNation Energy, Inc. SUNE have lost 0.8% since the company reported its earnings for the quarter ended June 30, 2026, against the S&P 500 Index’s 0.7% rise over the same period. Over the past month, SUNE shares gained 2.8%, trailing the S&P 500’s 4.1% increase. SUNation reported second-quarter 2026 revenues of $8.2 million, down 37.5% from $13.1 million a year earlier. Basic and diluted net loss per share narrowed to 52 cents from $3.14, while net loss narrowed to $3.3 million from $9.6 million. Gross profit fell 55.9% to $2.1 million. SUNation NY revenues declined 45.3% to $5.4 million from $9.8 million, with residential revenues falling 62.3%, partly offset by increases of 32.1% in commercial revenues and 26.2% in service revenues. Hawaii Energy Connection (HEC) revenues declined 14.1% to $2.8 million from $3.2 million. Residential revenues decreased 7.4%, while service revenues fell 43.9%. Consolidated gross margin contracted to 26.1% from 37% a year earlier as lower revenues left fixed cost-of-sales components spread over reduced volume. Total operating expenses declined 24.1% to $5.3 million, while selling, general and administrative (SG&A) expenses fell 35.1% to $4.2 million. However, the operating loss widened to $3.2 million from $2.2 million. Adjusted EBITDA loss was $1.7 million compared with $0.9 million in the prior-year quarter. SUNE ended June with $3.1 million in cash and cash equivalents. Accounts payable stood at $4.6 million, down from $7.4 million as of Dec. 31, 2025, while outstanding loans payable decreased to $4.9 million from $6.6 million as of Dec. 31, 2025. SUNation had a working-capital deficit of $3.2 million as of June 30, 2026, against working capital of $1.1 million at the end of 2025. Cash used in operating activities totaled $6.3 million during the first six months of 2026 against $3.5 million a year earlier. Financing activities provided $2.1 million, including proceeds from a PIPE offering and related-party borrowings. SUNation Energy Inc. price-consensus-eps-surprise-chart | SUNation Energy Inc. Quote CEO Scott Maskin said that residential demand and revenues remained under pressure in the post-OBBBA Section 25D environment, with lower residential volumes weighing on gross profit and margin. Management emphasized cost reductions, liquidity preservation and diversification into commercial, service, storage, roofing and adjacent energy services. CFO/COO James Brennan said that SUNE continued reducing SG&A expenses and managing payables and debt while seeking to preserve financial flexibility. Management expects industry conditions to remain challenging in the near term amid tighter financing conditions. The primary drag was the expiration of the Section 25D federal residential solar tax credit at the end of 2025, which contributed to weaker residential demand. SUNation NY residential revenues were also affected by a 59% decrease in systems installed, a 55% decline in kilowatts installed and an 8% reduction in revenue per installation. In HEC, residential installations decreased 16% and kilowatts installed declined 9%, partly offset by a 28% increase in battery attachment rates that helped lift average revenue per system by 10%. The sharp improvement in reported net loss partly reflected the absence of a $7.5 million non-cash warrant fair-value remeasurement expense recorded in the prior-year quarter. Meanwhile, second-quarter 2026 operating expenses included $570,516 of transaction costs related to the proposed Suniva merger. SUNation did not provide specific revenue or earnings guidance. Management expects diversification to remain important as residential solar adjusts to the post-25D environment, with emphasis on storage, service and commercial activity, balance-sheet strengthening and financial flexibility. SUNE expects the industry to remain challenging in the near term. On June 5, SUNation entered into a merger agreement with Suniva, Inc. Under the proposed reverse merger, Suniva would become a wholly owned subsidiary of SUNation, and the combined company is expected to operate under the Suniva name. Closing is currently targeted for the fourth quarter of 2026, subject to customary conditions and regulatory approvals. SUNation also completed a $2.7 million private placement on June 7 at $1.13 per share, with proceeds earmarked for working capital and general corporate purposes. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SUNation Energy Inc. (SUNE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Residential solar demand and consolidated revenue declined year over year following the loss of the 25D federal residential tax credits resulting from the One Big Beautiful Bill Act, effective January 1, 2026, partially offset by ongoing commercial, service and storage activity. SUNation remains focused on liquidity, balance sheet strength, and diversified revenue streams, as well as pursuing a strategic transaction in a more challenging industry backdrop. On June 5, 2026, SUNation entered into an agreement with Suniva, Inc. for a proposed reverse merger transaction, with closing currently targeting Q4 2026. RONKONKOMA, N.Y., Aug. 12, 2026 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE) (“SUNation” or the “Company”), a leading provider of residential and commercial solar energy systems, battery storage solutions and comprehensive energy services, today announced financial results for the second quarter ended June 30, 2026 (“Q2 2026”). The second quarter of 2026 reflected a continuation of the industry reset that began following the expiration of the One Big Beautiful Bill Act (“OBBBA”) Section 25D federal tax credit at the end of 2025, with lower residential demand and revenue, an associated impact on consolidated gross profit and margin, and ongoing competitive and financing pressures in the Company’s core markets. These headwinds were partially offset by commercial, service and storage‑related activity and further cost discipline, while management continued to focus on reducing liabilities, managing debt and advancing strategic initiatives intended to preserve liquidity and long‑term flexibility. During Q2 2026, the Company entered into an agreement and plan of merger agreement with Suniva, Inc. (“Suniva”) for a proposed reverse merger transaction, for which the Company is currently targeting closing in the fourth quarter of 2026, subject to customary closing conditions, regulatory approvals and any potential delays that may result therefrom. The execution of the merger agreement marks a key milestone in the Board’s strategic alternatives review and, if completed, would result in Suniva becoming a wholly owned subsidiary of SUNation. Q2 2026 Highlights Commercial Revenue Improvement. Commercial revenue was $1.72 million in the second quarter of 2026, compared to $1.40 million in the second quarter of 2025 and $1.47 million in the first quarter of 2026, representing increases of 23% year over year and 17% quarter over quarter, as non‑residential and service‑adjacent activity continued to provide support in a post‑OBBBA 25D residential market. Total Operating Expenses Decreased. Total operating expenses were $5.31 million in the second quarter of 2026, down 24% from $7.00 million in the second quarter of 2025 and down 10% from $5.92 million in the first quarter of 2026, even after including $0.57 million of one‑time transaction costs related to the proposed Suniva merger. SG&A Expense Decreased. SG&A expenses totaled $4.18 million in the second quarter of 2026, compared to $6.44 million in the second quarter of 2025 and $5.36 million in the first quarter of 2026, declines of 35% year over year and 22% quarter over quarter, driven by continued reductions in selling, marketing and personnel‑related costs across the Company’s operating regions. Operating Loss Improvement. Operating loss was $3.18 million in the second quarter of 2026, versus $2.16 million in the second quarter of 2025 and $4.33 million in the first quarter of 2026, reflecting a 47% year‑over‑year increase primarily due to lower gross profit on reduced residential volume, but a 27% quarter over quarter improvement as cost and expense reductions mitigated the impact of the lower revenue environment. Net Loss Decreased. Net loss was $3.34 million in the second quarter of 2026, compared to $9.61 million in the second quarter of 2025 and $4.09 million in the first quarter of 2026, representing a 65% year‑over‑year reduction and an 18% quarter over quarter improvement; the year‑over‑year comparison is significantly influenced by a $7.5 million non‑cash warrant fair‑value remeasurement recorded in the prior‑year quarter that did not recur in 2026. Accounts Payable Improvement. Accounts payable were $4.60 million at June 30, 2026, compared to $7.40 million at December 31, 2025, a reduction of $2.79 million, or 38%, consistent with the Company’s ongoing efforts to reduce payables and simplify its balance sheet. Total Liabilities Improvement. Total liabilities were $20.40 million at June 30, 2026, down from $23.90 million at December 31, 2025, a decline of $3.50 million, or 15%, reflecting the combined effect of payables reduction, debt repayment and other liability management actions undertaken during the period. Outstanding Loans Payable Improvement. Outstanding loans payable were $4.93 million at June 30, 2026, compared to $6.60 million at December 31, 2025, a decrease of $1.67 million, or 25%, as the Company continued to reduce both related‑party and third‑party borrowing balances. Highlight Context The strategic alternatives review announced by the Board of Directors on April 9, 2026 culminated in the execution of a definitive Agreement and Plan of Merger with Suniva, Inc. on June 5, 2026, with closing currently targeted for the fourth quarter of 2026, subject to customary closing conditions, regulatory clearances, and any potential delays that may result therefrom. During Q2 2026, SUNation continued to address its outstanding debt obligations and other liabilities and remained focused on strengthening financial flexibility through capital markets activity, balance sheet initiatives and targeted debt management actions. The Company’s Board and management team continued to advance the previously announced strategic pathways initiative and transactions, which aims in relevant part at protecting liquidity and supporting long‑term shareholder value, and which culminated in the execution in June 2026 of the agreement and plan of merger agreement with Suniva Inc. Management Commentary “Q2 2026 continued to reflect the realities of a post‑ OBBBA 25D market,” said Scott Maskin, Chief Executive Officer of SUNation. “Residential demand and revenue remained under pressure, and the lower volume residential solar environment again weighed on gross profit and margin, particularly where certain fixed costs did not move with sales. This is not the backdrop we would choose, but it is the backdrop we prepared for, and we are staying focused on the priorities we laid out earlier this year: tightening costs, protecting liquidity, advancing the Board‑authorized strategic pathways process, and pursuing diversified sources of revenue across commercial, service, storage, roofing and adjacent energy services.” He continued, “We are not going to gloss over the headline numbers. Consolidated revenue and gross profit were down year over year, but the actions we can control are the ones we are leaning into. Operating expenses declined versus the prior‑year quarter, we continued to work down payables and debt, and our teams in New York and Hawaii remained engaged with customers around commercial projects, service work and storage‑related opportunities. Those teams remain focused on serving customers through and beyond the merger process. These are not victory‑lap metrics, but they are consistent with the disciplined approach we believe is necessary in this environment.” James Brennan, SUNation’s Chief Financial Officer / Chief Operations Officer, said, “The combination of a lower revenue base and the fixed‑cost elements in our cost of sales structure weighed on gross margin in Q2 2026. Against that backdrop, we continued to take down costs in SG&A, and we remained active in managing our balance sheet, including payables, customer‑related liabilities and debt, with an eye toward preserving flexibility. In support of the proposed Suniva merger and our broader strategic pathways initiative, we also advanced capital structure actions during the quarter, including reducing outstanding loans and converting a portion of the SUNation NY long‑term note to equity, all while maintaining our focus on liquidity and covenant compliance.” “As we move through the rest of 2026,” Mr. Brennan added, “our financial priorities are clear: manage through the industry reset, prioritize cash preservation and liquidity, and maintain the ability to respond to both risks and opportunities in our markets, including those associated with the integration of Suniva if and when the merger is completed.” Mr. Maskin concluded, “We have been on this “solar coaster” for 23 years, and we have operated through volatile cycles before. The market is resetting, financing conditions are tighter, and we expect the industry to remain challenging in the near term. At the same time, we believe our presence in high‑electricity‑cost markets, our diversification across residential, commercial, service and storage, and the work we are doing on the cost structure and balance sheet leave us better positioned than we would have been without these actions. Additionally, the merger agreement with Suniva announced in June represents a significant milestone in our strategic transaction process and, if consummated, would add significant upstream solar manufacturing capability to our platform and support domestic module supply for our projects. We are currently targeting a closing in the fourth quarter of 2026, subject to customary conditions and regulatory approvals, and there can be no assurance as to the exact timing or consummation of the proposed merger. Our job now is to keep executing, keep protecting liquidity, and keep evaluating strategic alternatives so that when the market inevitably finds its next equilibrium, SUNation is in a position to participate.” REGULATORY AND INDUSTRY ENVIRONMENT. The regulatory and industry environment remained dynamic during the second quarter of 2026, following significant federal policy changes enacted in 2025, including the expiration of the Section 25D residential solar federal tax credit as of December 31, 2025 under the One Big Beautiful Bill Act. As a result, the residential solar market entered 2026 in a transitional period, with demand patterns resetting after elevated customer activity ahead of the tax credit sunset and with customers and financiers adapting to revised economics in key markets. Q2 2026 FINANCIAL AND OPERATIONAL RESULTS Financial Results Consolidated Sales Revenue Down. Consolidated sales revenue was $8.2 million for the second quarter of 2026, compared to $7.2 million in the first quarter of 2026 and $13.1 million in the second quarter of 2025, representing a 38% year‑over‑year decrease driven primarily by lower residential contract revenue in both New York and Hawaii, partially offset by higher commercial revenue. As a reminder, this reduction was expected as industry analysts had predicted a 25%-40% decline in 2026 due to the impact of the OBBBA defined above. Gross Profit Improvement. Gross profit was $2.1 million in the second quarter of 2026, up from $1.6 million in the first quarter of 2026 but down from $4.8 million in the second quarter of 2025, a 56% year‑over‑year decline; gross margin was 26.1% in the second quarter of 2026, compared to 22.1% in the first quarter of 2026 and 37.0% in the prior‑year quarter, reflecting the impact of a lower revenue base and fixed elements of cost of sales that did not decline proportionately with volume. Total Operating Expenses Improvement. Total operating expenses were $5.3 million in the second quarter of 2026, versus $5.9 million in the first quarter of 2026 and $7.0 million in the second quarter of 2025, a reduction of 24% year over year and 10% quarter over quarter; SG&A expense was $4.2 million, down 35% from $6.4 million in the prior‑year quarter and 22% from $5.4 million in the first quarter of 2026, reflecting continued reductions in selling, marketing and personnel‑related costs, partially offset by $0.57 million of one‑time transaction costs related to the proposed Suniva merger. Balance Sheet and Liquidity Cash and cash equivalents Improved. Cash and cash equivalents were $3.1 million at June 30, 2026, compared to $1.7 million at March 31, 2026 and $3.2 million at June 30, 2025, an increase of 81% quarter over quarter and a decrease of 4% year over year, reflecting net cash used in operating activities partially offset by proceeds from financing activities, including the June 2026 private placement offering. Total Current Assets Improvement. Total current assets were $10.6 million at June 30, 2026, versus $9.0 million at March 31, 2026 and $11.0 million at June 30, 2025, representing a 17% quarter over quarter increase and a 4% year‑over‑year decrease, driven primarily by changes in cash balances, receivables, prepaid expenses and contract assets, partially offset by higher inventories. Accounts Payable Improvement. Accounts payable were $4.6 million at June 30, 2026, compared to $4.6 million at March 31, 2026 and $6.4 million at June 30, 2025, remaining essentially flat quarter over quarter and improving 28% year over year, consistent with management’s efforts to reduce payables and streamline the balance sheet. Total Current Liabilities Increased. Total current liabilities were $13.8 million at June 30, 2026, compared to $12.6 million at March 31, 2026 and $12.8 million at June 30, 2025, increases of 10% quarter over quarter and 8% year over year, primarily reflecting a higher current portion of related‑party debt rather than any significant increase in operational liabilities such as accounts payable or customer deposits. Total Long‑Term Liabilities Improved. Total long‑term liabilities were $6.6 million at June 30, 2026, down from $7.3 million at March 31, 2026 and $9.2 million at June 30, 2025, representing reductions of 9% and 28%, respectively, as the Company continued to pay down long‑term debt obligations. Total Stockholders’ Equity Unchanged. Total stockholders’ equity was $20.5 million at June 30, 2026, compared to $20.3 million at March 31, 2026 and $22.1 million at June 30, 2025, remaining relatively stable quarter over quarter and declining 7% year over year, reflecting the cumulative impact of net losses over the period. Operational Results Consolidated Residential Revenue Improved. Consolidated residential revenue increased 11% quarter over quarter, driven by a 56% increase in Hawaii residential revenue that more than offset an 11% decline in New York residential revenue as both markets continued to adjust to the expiration of the OBBBA Section 25D residential solar tax credit and associated demand reset. Consolidated Commercial Revenue Improved. Consolidated commercial revenue increased 17% quarter over quarter, with New York commercial contract revenue up 24% and Hawaii commercial revenue down 60%, reflecting stronger non‑residential demand in New York and a smaller commercial pipeline in Hawaii. Consolidated Service Revenue Improved. Consolidated service revenue increased 28% quarter over quarter, supported by a 66% increase in New York service revenue, which offset a 27% decline in Hawaii service revenue and underscored the importance of service activity in supporting customer relationships and recurring revenue. Segment Revenue Improved. By segment, Hawaii Energy Connection’s total revenue increased 37% quarter over quarter, and SUNation NY’s total revenue increased 4% quarter over quarter, indicating a favorable mix shift toward commercial and service work across both operating markets. The Company remains focused on product and financing adjustments intended to maintain the attractiveness and accessibility of residential solar and storage solutions for customers in a post residential tax‑credit environment, while continuing to diversify revenue across commercial, service and storage‑related activity. STRATEGIC INITIATIVES AND MARKET POSITION In support of the Board‑approved strategic pathway exploration process, to enhance financial flexibility and assess strategic alternatives, SUNation advanced a series of balance sheet and capital management actions during the first half of 2026. These actions included debt repayment, use of an affiliated line of credit facility, establishment of an at‑the‑market equity program, expansion of existing credit capacity, private placement financing (described below) and approval of a $1.2 million secured long term debt‑to‑equity conversion arrangement, all designed to improve liquidity and preserve operating flexibility. On June 5, 2026, the Company entered into an Agreement and Plan of Merger with Suniva, Inc. Under the Merger Agreement, SUNation Merger Sub, Inc., a wholly-owned subsidiary of SUNation, will merge with and into Suniva, with Suniva surviving and continuing as a wholly-owned subsidiary of SUNation. SUNation is expected to change its name to Suniva, and the combined company is expected to operate under the Suniva name following closing. On June 7, 2026, the Company completed a $2.7 million private placement of shares of the Company’s common stock at $1.13 per share, the closing price immediately prior to the execution of this offering, with the use of proceeds to be utilized for working capital and general corporate purposes. BUSINESS STRATEGY AND OUTLOOK SUNation believes its business is more focused, more disciplined, and better positioned for diversification than it was a year ago, both in preparation for the exploration of a strategic transaction and following the Board authorized execution of the plan of merger agreement with Suniva, Inc. The Company’s strategy remains centered on serving customers in high‑value energy markets through a broad offering that includes residential solar, battery storage, commercial projects, service, roofing and adjacent energy solutions, while maintaining the flexibility to adapt as market conditions evolve. Looking ahead, management expects diversification to remain a key strategic consideration as the residential market adjusts to a post OBBBA ‑25D environment; with continued emphasis on storage, service and commercial activity, ongoing efforts to strengthen the balance sheet and enhance financial flexibility, and a focus on disciplined execution, the Company believes it is better positioned to stabilize performance, serve orphaned solar system and retrofit opportunities, and participate in improving demand conditions as they emerge. In parallel, the Board continues to pursue execution of the proposed merger with Suniva, with the objective of enhancing financial flexibility, supporting long‑term shareholder value and aligning the Company’s platform with evolving industry dynamics. ABOUT SUNATION ENERGY, INC. SUNation Energy Inc. (Nasdaq: SUNE) is a leading provider of sustainable solar energy and backup power solutions to residential, commercial, and municipal customers. The Company designs, installs, and services solar energy systems and related technologies, helping customers reduce energy costs, increase energy independence, and transition to cleaner energy solutions. For more information, visit: ir.sunation.com CONTACTS Scott Maskin, Chief Executive OfficerSUNation Energy, [email protected] James Brennan, Chief Financial OfficerSUNation Energy, [email protected] Investor RelationsAlliance Advisors [email protected] 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", “currently”, "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. CONSOLIDATED STATEMENTS OF OPERATIONSUnauditedTable 3: Consolidated Operating Results CONSOLIDATED BALANCE SHEET HIGHLIGHTS(In thousands)Table 4: Balance Sheet Highlights CONSOLIDATED CASH FLOW SUMMARY(In thousands)Table 5: Cash Flow Summary SEGMENT PERFORMANCE SUMMARY(In thousands)Table 6: SUNation NY Segment Results Table 7: Hawaii Energy Connection Segment Results ADJUSTED EBITDA RECONCILIATION 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 calculated in accordance with GAAP, adjusted for interest, income taxes, depreciation, amortization, stock compensation, transaction costs, gain on sale of assets, earnout consideration compensation, financing fees, 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. Table 8: Reconciliation of GAAP Net Loss To Adjusted EBITDA

Commercial revenue increased 15% year over year, partially offsetting the anticipated residential slowdown in a post-25D market. Operating expenses declined 10% and interest expense fell 77% as the Company continued to execute on cost discipline and debt reduction initiatives. SUNation reduced accounts payable and total liabilities during the quarter, and continued actions to enhance financial flexibility through capital markets and debt management initiatives. RONKONKOMA, N.Y., May 15, 2026 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE) (“SUNation” or the “Company”), a leading provider of residential and commercial solar energy systems, battery storage solutions, and comprehensive energy services, today announced financial results for the first quarter ended March 31, 2026 (“Q1 2026”) The first quarter of 2026 reflected a transitional period for SUNation, with an anticipated decline in residential demand and resulting revenue following the expiration of the Section 25D federal tax credit, as well as seasonal weather-related disruption in both New York and Hawaii, including flooding-related impacts in Hawaii, that affected installation activity. These pressures were partially offset by commercial revenue growth, continued service activity, improving storage mix, and disciplined cost management. Q1 2026 Highlights Commercial Revenue Increased 15% to $1.47 million year over year Operating Expenses Declined 10% to $5.92 million year over year Interest Expense Declined 77% to $0.13 million year over year Accounts Payable Improved by $2.78 million, or 38%, from December 31, 2025 Total Liabilities Declined by $4.04 million, or 17%, from December 31, 2025 Outstanding loans payable declined by $0.60 million from December 31, 2025 Board continues recently announced strategic pathways initiative focused on financial flexibility, strategic alternatives and long-term shareholder value Management Commentary “Our first quarter results were about what we expected for a market coming off the expiration of the Section 25D federal tax credit at the end of 2025,” said Scott Maskin, Chief Executive Officer. “Residential demand was down hard year over year, and in both New York and Hawaii we lost productive installation days to weather, including flooding in Hawaii - so this was not an easy quarter. But this is exactly why we spent the back half of last year preparing for a post-25D market. Commercial revenue grew, service stayed active and remains a growth opportunity, storage trends in Hawaii improved, and we kept working the cost side of the business in a tougher operating environment.” He continued, “Let’s be clear: overall revenue and gross profit were down, and we’re not trying to dress that up. But several of the priorities we said would matter in this environment did matter. Commercial revenue increased year over year, operating expenses came down, interest expense came down sharply, and we continued to reduce liabilities and debt. These aren’t victory-lap numbers, but they are signs that the business is responding the way we intended when the market got tougher.” “Just as importantly, our strategic priorities have not changed,” Mr. Maskin added. “Diversification across residential, commercial, service, storage, roofing, and adjacent energy services remains core to how we envision the future of this company, and which is also why we had undertaken our announced strategic transaction review process in April 2026. We also continue to see opportunity in commercial solar, in servicing orphaned systems, and in adjusting our residential offerings and financing approach for a post-25D market. We’ve been on this solar coaster a long time, we’ve operated through volatile market cycles before, and what we will not do is panic or make knee-jerk decisions because of one tough quarter.” James Brennan, SUNation’s Chief Financial Officer, said, “The lower revenue environment in Q1 2026 had a significant effect on gross profit and gross margin, particularly because certain fixed costs within cost of sales did not decline in line with revenue. Even so, we reduced total operating expenses by 10% year over year, lowered SG&A by 11%, and reduced interest expense by 77%. We also improved several balance sheet accounts during the quarter, including accounts payable and total liabilities, while continuing to address outstanding debt obligations and enhance our financial flexibility.” Mr. Maskin concluded, “We’re realistic about the backdrop here. The market is resetting, liquidity matters, and this industry is unlikely to get easier in the near term. At the same time, we believe a diversified businesses mix, our position in high-electricity-cost markets like New York and Hawaii, and the work we’ve done on cost structure and the balance sheet leave us better prepared than we would have been a year ago. Our priorities for 2026 are clear: protect liquidity, maintain flexibility, keep building commercial and service activity, expand storage-related opportunities, adapt our financing approach, continue to assess strategic alternatives and execute through the reset. We firmly believe our results will show what we’ve got what it takes as this market settles out.” Q1 2026 FINANCIAL AND OPERATIONAL RESULTS Financial Results Consolidated revenue decreased 43.1% to $7.2 million from $12.6 million, driven primarily by a 53% decrease in residential contract revenue and a 3% decrease in service revenue, partially offset by a 15% increase in commercial revenue as the business adjusted to a post-25D market and weather-related disruption in both operating regions. Consolidated gross profit declined to $1.6 million from $4.4 million, and gross margin decreased to 22% from 35%, due primarily to lower revenue and the effect of fixed costs in cost of sales not declining with volume. Total operating expenses decreased 10% to $5.9 million from $6.6 million. Selling, general and administrative expenses declined 11% to $5.4 million from $6.0 million, due primarily to lower selling and marketing expense and lower personnel costs, partially offset by compensation expense related to the earnout liability. Interest expense declined 77% to $0.13 million from $0.6 million, reflecting the benefits of prior debt reduction and restructuring actions. Other income, net, was $0.3 million compared to other expense, net, of $1.3 million in the prior-year period, driven primarily by lower interest expense and gain on debt extinguishment. Operating loss was $4.3 million compared to $2.2 million in the prior-year quarter, and net loss was $4.1 million, or $(1.20) per diluted share, compared to a net loss of $3.5 million, or $(106.71) per diluted share. Balance Sheet and Liquidity Cash and cash equivalents were $1.7 million at March 31, 2026, compared to $7.2 million at December 31, 2025, reflecting $5.2 million of cash used in operating activities during the quarter. Total current assets declined to $9.0 million from $16.5 million, driven primarily by lower cash balances, lower receivables, lower prepaid expenses and lower contract assets, partially offset by higher inventories. Accounts payable declined to $4.6 million from $7.4 million, reflecting continued efforts to reduce payables and simplify the balance sheet. Total current liabilities declined to $12.6 million from $15.4 million, driven primarily by reductions in accounts payable, customer deposits and contract liabilities, partially offset by a higher current portion of related-party debt. Total long-term liabilities declined to $7.3 million from $8.5 million, reflecting continued paydown of long-term debt obligations. Total stockholders’ equity was $20.3 million at March 31, 2026, compared to $24.3 million at December 31, 2025, reflecting the quarter’s net loss. Operational Results Commercial, service, and storage-related activity provided partial support to consolidated results during the quarter as residential solar demand reset lower following the expiration of the Section 25D federal tax credit, and installation activity was negatively affected by weather in both New York and Hawaii Consolidated commercial revenue increased 15% year over year, while service activity remained an important contributor across both operating markets and continued to support customer relationships and recurring revenue opportunities. In New York, commercial contract revenue increased 6% and service revenue increased 10%, reflecting continued demand across non-residential, service, and battery-related activity despite weather-related installation disruption during the quarter. In Hawaii, commercial revenue contributed to results in the quarter, while customer adoption of storage continued to improve, with battery attachment rates increasing 46% year over year, despite operational disruption related to recent flooding. The higher battery attachment rate in Hawaii supported a 27% increase in average revenue per system installed, helped by the state’s Bring Your Own Device Plus program, which incentivizes energy storage additions to rooftop solar systems and underscores the growing strategic importance of storage in the Company’s product mix. On a consolidated basis, revenue per residential installation increased 2%, highlighting the benefit of product mix even as the market adjusted to a post-tax-credit environment. STRATEGIC INITIATIVES AND MARKET POSITION In support of the recently announced Board-approved review of strategic initiatives to enhance financial flexibility and assess strategic alternatives, SUNation advanced several balance sheet and capital management actions during the first quarter and in the weeks that followed. These steps included debt repayment, use of an affiliated line of credit, establishment of an at-the-market equity program, expansion of existing credit capacity, and approval of a debt-to-equity conversion arrangement, all intended to improve liquidity and preserve operating flexibility. During the first quarter of 2026, the Company reduced its $1.15 million aggregate principal obligation to a former shareholder by approximately $0.3 million through $0.8 million in borrowings against a related party line of credit, and decreased its recurring monthly payments from $25,000 to roughly $5,000. On April 8, 2026, the Company entered into an at-the-market sales agreement with Maxim Group, LLC, allowing sales of common stock at market prices of up to $3.6 million, and to date had sold 38,524 shares for gross proceeds of $60,604. On April 14, 2026, the Company amended its MBB Energy line of credit to extend the maturity date to October 15, 2026, and increase capacity to $1.5 million from $1.0 million. On April 14, 2026, the Board also approved a debt conversion arrangement for up to $1.2 million of debt payable under the SUNation NY long-term note into restricted common stock issued to Scott Maskin and James Brennan at $1.77 per share, carrying a 10% premium to the closing price of April 13, 2026, which shares are subject to a 180-day lockup (among other control person restrictions). REGULATORY AND INDUSTRY ENVIRONMENT The regulatory and industry environment remained dynamic during the first quarter of 2026, following significant federal policy changes enacted in 2025, including the expiration of the Section 25D residential solar federal tax credit at December 31, 2025 under the One Big Beautiful Bill Act. As a result, the residential solar market entered 2026 in a transitional period, with demand patterns adjusting after elevated customer activity ahead of the tax credit sunset in late 2025. BUSINESS STRATEGY AND OUTLOOK SUNation believes the business it has built today is more focused, more disciplined and better diversified than it was a year ago. While the Company continues to undertake its strategic alternative transaction assessment, the Company’s strategy remains centered on serving customers in high-value energy markets through a broad offering that includes residential solar, battery storage, commercial projects, service, roofing, and adjacent solutions, while maintaining the flexibility to adapt as market conditions evolve. Looking ahead, management expects diversification to remain a key strategic consideration, particularly as the residential market adjusts to a post-25D environment. With continued emphasis on storage, service and commercial activity, ongoing efforts to improve the balance sheet and enhance financial flexibility, and a focus on disciplined execution, the Company believes it is better positioned to stabilize performance, serve orphaned-system and retrofit opportunities, and participate in improving demand conditions as they emerge. At the same time, and as noted above, the Board continues to evaluate strategic pathways intended to enhance financial flexibility, assess strategic alternatives and support long-term shareholder value, alongside management’s continued execution of the Company’s operating plan. ABOUT SUNATION ENERGY, INC. SUNation Energy Inc. (Nasdaq: SUNE) is a leading provider of sustainable solar energy and backup power solutions to residential, commercial, and municipal customers. The Company designs, installs, finances, and services solar energy systems and related technologies, helping customers reduce energy costs, increase energy independence, and transition to cleaner energy solutions. For more information, visit ir.sunation.com CONTACTS Scott Maskin Chief Executive Officer SUNation Energy, Inc. [email protected] James Brennan Chief Financial Officer SUNation Energy, Inc. [email protected] Investor Relations Alliance Advisors IR [email protected] 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. FINANCIAL TABLES CONSOLIDATED STATEMENTS OF OPERATIONS Unaudited Table 3: Consolidated Operating Results CONSOLIDATED BALANCE SHEET HIGHLIGHTS (In thousands) Table 4: Balance Sheet Highlights CONSOLIDATED CASH FLOW SUMMARY (In thousands) Table 5: Cash Flow Summary SEGMENT PERFORMANCE SUMMARY (In thousands) Table 6: SUNation NY Segment Results Table 7: Hawaii Energy Connection Segment Results ADJUSTED EBITDA RECONCILIATION 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 calculated in accordance with GAAP, adjusted for interest, income taxes, depreciation, amortization, stock compensation, gain on sale of assets, earnout consideration compensation, financing fees, (gain) 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. Table 8: Reconciliation of GAAP Net Income (Loss) To Adjusted EBITDA

This article first appeared on GuruFocus. Total Sales (Q4 2025): $27.2 million, up 77% from $15.4 million in Q4 2024. Total Sales (Full Year 2025): $71.9 million, up 26% from $56.9 million in 2024. Gross Profit (Q4 2025): $11.1 million or 40.7% of sales, compared to $5.6 million or 36.4% in Q4 2024. Gross Margin (Full Year 2025): 38.3%. SG&A Expenses (2025): 37.5% of sales, down from 47.5% in 2024. Interest Expense (Q4 2025): $165,000, down from $775,000 in Q4 2024. Net Income (Q4 2025): $2.6 million, compared to a net loss of $6.8 million in Q4 2024. Net Loss (Full Year 2025): $10.9 million, compared to a net loss of $15.9 million in 2024. Adjusted EBITDA (Q4 2025): $4.1 million, compared to a loss of $1.1 million in Q4 2024. Adjusted EBITDA (Full Year 2025): $2.5 million, compared to a loss of $4.9 million in 2024. Cash and Cash Equivalents (Year-End 2025): $7.2 million, up from $0.8 million at the end of 2024. Total Debt (Year-End 2025): $8.1 million, down from $19.1 million at the end of 2024. Warning! GuruFocus has detected 1 Warning Sign with SUNE. Is SUNE fairly valued? Test your thesis with our free DCF calculator. Release Date: March 19, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. SUNation Energy Inc (NASDAQ:SUNE) reported a 77% increase in fourth-quarter sales compared to the previous year, demonstrating strong growth. The company successfully reduced its total debt by 58% over the year, significantly improving its financial position. SUNation Energy Inc (NASDAQ:SUNE) achieved a gross margin of 40.7% in the fourth quarter, up from 36.4% in the prior year, indicating improved profitability. The company exceeded its full-year sales guidance, reporting $71.9 million in sales, which was above the top end of their forecasted range. SUNation Energy Inc (NASDAQ:SUNE) reported positive adjusted EBITDA for the full year, significantly exceeding their guidance range, showcasing operational improvements. The expiration of the Section 25D residential tax credit is expected to impact first-quarter revenue, potentially leading to a decline. The company anticipates challenges in the first quarter due to harsh winter conditions in the Northeast, which may affect installations. SUNation Energy Inc (NASDAQ:SUNE) is facing industry-wide uncertainty due to regulatory changes and evolving financing structures. The transition to third-party ownership models in the solar industry is causing some disruption and requires adaptation. Despite improvements, the company reported a net loss of $10.9 million for the full year, indicating ongoing financial challenges. Q: Can you provide any guidance for 2026, considering the current industry challenges? A: Scott Maskin, CEO, mentioned that they are not comfortable giving guidance at this point due to the industry's turmoil. They expect to have more clarity by the end of Q2, as the industry is transitioning to third-party ownership models. Jim Brennan, CFO, added that the next few weeks are crucial due to the tax credit situation and financing uncertainties. Q: What is your outlook for the long-term recovery of residential solar, especially post-NM 3.0? A: Scott Maskin, CEO, explained that third-party ownership is gaining share due to the abrupt pull forward in ownership. He emphasized the importance of focusing on high-quality installations and service opportunities. The affordability of solar will depend on state-level actions and rising energy prices, which are expected to drive solar adoption. Q: Can you discuss the addition of Generac to your equipment suite and its impact? A: Scott Maskin, CEO, expressed enthusiasm for Generac, highlighting their commitment to innovation and reliability. He noted that Generac's ecosystem, which includes solar, battery, and generator solutions, aligns well with SUNation's focus on energy independence and diversification. The addition was driven by customer demand and the opportunity for cross-branding. Q: What additional services is SUNation Energy considering to complement the Generac ecosystem? A: Scott Maskin, CEO, mentioned the potential for expanding into HVAC and generator markets, leveraging their strong customer loyalty. Jim Brennan, CFO, added that SUNation's diversified revenue approach includes residential, commercial, service, roofing, electrical work, and community solar, with plans to explore further opportunities. Q: How do AI and data centers fit into SUNation's strategy? A: Scott Maskin, CEO, highlighted the increasing energy demand from AI and data centers, which is expected to drive solar and storage adoption. SUNation aims to be a player in energy supply deployment and is exploring opportunities to integrate and maximize power for data centers. Jim Brennan, CFO, noted that the demand for new data centers is outpacing grid capacity, necessitating diverse energy sources. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Q4 2025: Revenue increased 77% to $27.2 million, gross profit rose to $11.1 million, and gross margin expanded to 40.7% from 36.4% in the prior-year quarter. Q4 2025: Net income was $2.6 million and Adjusted EBITDA was $4.1 million, compared to a net loss of $6.8 million and Adjusted EBITDA loss of $1.1 million in the prior-year period. FY 2025: Revenue increased 26% to $71.9 million, gross profit rose 35% to $27.5 million, and gross margin improved to 38.3% from 35.9%. FY 2025: SUNation exceeded the top end of its prior revenue guidance, generated approximately $1.0 million of operating cash flow, and delivered $2.5 million of Adjusted EBITDA. FY 2025: SUNation materially strengthened its balance sheet, ending the year with approximately $7.2 million of liquidity and an estimated 57% reduction in total debt. New York and Hawaii drove growth, with revenue up 25% and 30% respectively in FY 2025 , as SUNation scaled storage, service and cost discipline. RONKONKOMA, N.Y., March 18, 2026 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE) (“SUNation” or “the Company”), a leading provider of residential and commercial solar energy systems, battery storage solutions, and comprehensive energy services, today announced financial results for the fourth quarter and full year ended December 31, 2025. The fourth quarter represented SUNation’s strongest operating period of 2025, driven by strong residential demand, improved execution across both core markets, and continued contribution from service and commercial activity. Q4 2025 Highlights Revenue increased 77% to $27.2 million from $15.4 million in the prior-year quarter. Gross profit increased to $11.1 million from $5.6 million, and gross margin improved to 40.7% from 36.4%. Selling, general and administrative expense was 37.5% relative to sales revenue in 2025, down from the 47.5% of sales totals the year prior, reflecting improved operating leverage on higher revenue. Interest expense declined to $165 thousand from $775 thousand in the prior-year quarter, reflecting the Company’s debt reduction efforts earlier in the year. Net income was $2.6 million, compared to a net loss of $6.8 million in the prior-year quarter. Adjusted EBITDA was $4.1 million, compared to an Adjusted EBITDA loss of $1.1 million in the prior-year quarter. Year-end cash and cash equivalents were $7.2 million, above the $5.4 million reported at September 30, 2025. FY 2025 Highlights Revenue increased 26% to $71.9 million, exceeding the top end of the Company’s previously stated 2025 revenue guidance range of $65 million to $70 million. Gross profit increased 35% to $27.5 million, and gross margin improved to 38.3% from 35.9%. Operating loss improved to $1.7 million from $12.3 million in 2024, reflecting stronger execution and disciplined cost management. Adjusted EBITDA improved to $2.5 million from an Adjusted EBITDA loss of $4.9 million in 2024, significantly ahead of the Company’s prior guidance range of $0.5 million to $0.7 million. Cash flow from operations was approximately $1.0 million, compared $6.3 million used in 2024. Total liquidity increased to approximately $7.2 million at December 31, 2025, compared to approximately $1.2 million at December 31, 2024. SUNation NY revenue increased 25% to $49.6 million and HEC revenue increased 30% to $22.3 million. SUNation NY remained the leading solar contractor in its region in 2025, with aggregate installed capacity on Long Island up approximately 29% year over year. HEC benefited from rising storage demand, including momentum from Hawaii’s BYOD Plus program, while service revenue at HEC increased 57%. Approximately 35% of installed jobs in 2025 came from referrals or repeat customers, supporting efficient customer acquisition and reflecting strong customer satisfaction. Management Commentary "2025 was a year of real progress for SUNation Energy, and the fourth quarter was the clearest demonstration yet that our strategy has been working, while we fully recognize that significant challenges lay ahead of us in 2026, as detailed below,” said Scott Maskin, Chief Executive Officer of SUNation. “We delivered substantial revenue growth of 26%, significantly improved profitability, and strengthened our balance sheet through strategic capital raises that enabled us to eliminate approximately $11.0 million of outstanding debt. Our operating loss declined 86% year over year, and we generated positive operating cash flow for the first time in recent years.” “In the fourth quarter, our teams in New York and Hawaii executed at a high level and responded to strong residential demand as customers moved to complete projects ahead of the expiration of the Section 25D residential tax credit at year-end, while we continued to support a healthy commercial and service pipeline. As market conditions evolve, we believe SUNation is well positioned through our focus on customer experience, service, storage, and disciplined execution, and we continue to evaluate opportunities to expand our platform in ways that build on our regional strengths and create long-term value,” Maskin concluded. James Brennan, Chief Financial Officer of SUNation, added, “This diversity of offering and customer-centric focus continues to be SUNation’s core strengths, but we’re not just managing the business for a near-term pull-forward in demand. We spent the second half of 2025 preparing for what comes next, including alternative financing structures, a broader service offering, continued commercial execution, anticipated challenges resulting from the loss of the residential tax credits and disciplined evaluation of strategic expansion opportunities.” “We strengthened the balance sheet over the course of 2025 by reducing debt, lowering interest expense, improving working capital and increasing liquidity, and we believe SUNation exits 2025 in a much stronger financial position than where it began the year. Our fourth quarter and full-year results reflect stronger operating discipline across the business, with fourth quarter Adjusted EBITDA improving to $4.1 million and year-end cash balance increased to approximately $7.2 million,” Brennan concluded. Q4 & FY 2025 FINANCIAL AND OPERATIONAL HIGHLIGHTS Financial Results For the fourth quarter of 2025, revenue increased 77% to $27.2 million from $15.4 million in the prior-year period, supported by continued strength in residential demand in both New York and Hawaii as customers accelerated activity ahead of the Section 25D sunset. For the full year 2025, revenue increased 26% to $71.9 million, compared to $56.9 million in 2024. The Company also benefited from strong residential installation volumes, improved pricing and a strengthened mix of PV installations that included our storage-related offerings. Gross profit for the fourth quarter was $11.1 million, or 40.7% of sales, compared to $5.6 million, or 36.4% of sales, in the prior-year quarter. For full year 2025, gross profit increased 35% to $27.5 million from $20.4 million in 2024, while gross margin improved to 38.3% from 35.9%. Margin performance benefited from a more favorable revenue mix, with higher-margin residential revenue representing a larger share of total sales, as well as lower material costs as a percentage of revenue and improved operating efficiency across the platform. For the fourth quarter, selling, general and administrative expense was $7.6 million, compared to $7.7 million in the prior-year quarter, reflecting cost discipline and improved operating leverage as revenue accelerated. Operating expenses decreased in full year 2025 by 10.8% to $29.2 million, compared to $32.7 million in 2024. The decline was driven in part by lower amortization expense and the absence of the goodwill impairment, intangible impairment, and acquisition earnout remeasurement charges recorded in the prior year, partially offset by targeted investment in selling and marketing to support higher residential revenue. For the fourth quarter, SUNation reported net income of $2.6 million, compared to a net loss of $6.8 million in the prior-year period. For the full year, net loss improved to $10.9 million from $15.8 million in 2024, despite elevated non-operating expense related primarily to financing and fair value remeasurement items. Adjusted EBITDA for the fourth quarter was $4.1 million, compared to an Adjusted EBITDA loss of $1.1 million in the prior-year quarter. For the full year, Adjusted EBITDA was $2.5 million, compared to an Adjusted EBITDA loss of $4.9 million in 2024. Balance Sheet and Liquidity The Company, via targeted operative actions throughout the year, also strengthened its financial position during the year. Cash and cash equivalents at year-end were approximately $7.2 million, compared to $5.4 million at September 30, 2025, and approximately $1.2 million at December 31, 2024. Total debt at year-end 2025 was $8.1 million, compared with approximately $19.1 million at December 31, 2024, reflecting significant deleveraging during the year. Working capital improved to a positive $1.1 million at year-end 2025, compared to a working capital deficit of $16.1 million at December 31, 2024. During 2025, the company generated approximately $5.1 million of net cash from financing activities, including capital raises, while also using cash to reduce debt and satisfy contingent obligations. The company used 2025 financing proceeds to pay down approximately $12.6 million of outstanding debt and contingent liability obligations. Operational Highlights In the fourth quarter, SUNation’s operating teams in New York and Hawaii responded to a surge in residential demand ahead of the year-end expiration of the Section 25D residential tax credit, while continuing to support commercial project execution and a growing service platform Revenue growth in 2025 was driven primarily by stronger residential demand, including increased customer activity ahead of the expiration of certain federal residential clean energy tax credits at year-end 2025. The company also benefited from improved residential margins, lower material costs as a percentage of sales, and favorable revenue mix. Service remained an important differentiator in 2025. The Company continued to benefit from demand for repair, replacement and orphan-system support as industry shakeout created opportunities for trusted local operators with long operating histories. In New York, SUNation continued to benefit from strong relationships across residential, commercial, municipal and institutional customers. The Company remained the top-ranked solar contractor in its region in 2025 based on installed capacity, while aggregate installed capacity on Long Island increased approximately 29% year over year. In Hawaii, the Company continued to see the growing importance of storage economics and grid services, including momentum from the BYOD Plus program, which supported battery demand and contributed to improved residential revenue per watt. Revenue increased 30% to $22.3 million, with residential contract revenue up 31%. SUNation continued to emphasize battery storage, service and repair work, and cross-selling opportunities as part of its broader strategy. The company noted that service operations, including support for orphaned systems, remain a differentiator and provide diversified revenue opportunities, while approximately 35% of 2025 installations came from referrals or repeat customers, demonstrating strong customer satisfaction and supporting efficient customer acquisition. STRATEGIC INITIATIVES AND MARKET POSITION In a fragmented residential solar market with more than 4,000 contractors nationwide, SUNation believes its local-market leadership, integrated operating model, referral-driven customer acquisition and strong vendor relationships position it to compete effectively and expand share. SUNation’s customer-first model also supports efficient growth, with approximately 35% of 2025 installed jobs coming from referrals or repeat customers, underscoring the strength of the brand, the quality of execution, and a consistently strong customer experience. SUNation believes one of its greatest strengths is its diversified model, with residential, commercial and service operations providing multiple avenues for growth and helping offset cyclicality in any one part of the market. The Company continues to strengthen its position through strong relationships with developers, institutions, municipalities and school districts, particularly in New York, and believes its reputation for execution continues to support a healthy, pipeline-driven commercial opportunity set. In Hawaii, the Company is building on its leadership in storage and grid services, including proprietary energy management offerings that enable participation in virtual power plant programs. Across the platform, SUNation maintains relationships with leading solar and storage brands including Enphase, Tesla, FranklinWH, and GAF roofing. In 2026, the Company expects to broaden its offering with the addition of the Generac full home ecosystem, further supporting its strategy of providing more comprehensive home energy solutions across solar, storage, backup power and adjacent services. REGULATORY AND INDUSTRY ENVIRONMENT SUNation operated through a meaningful policy transition in 2025 as the One Big Beautiful Bill Act accelerated the phase-out or termination of several clean energy tax incentives, including the Residential Clean Energy Credit under Section 25D and the Energy Efficient Home Improvement Credit under Section 25C, both effective at the end of 2025, while also tightening the framework around Sections 45Y and 48E. Although the Section 25D sunset contributed to customer urgency in 2025, the Company believes the long-term residential value proposition in its core markets remains supported by high utility costs, energy resiliency needs and growing consumer interest in storage. The scheduled expiration of the 30% residential credit helped drive customer urgency during 2025, contributing to strong residential demand and resulting 2025 revenue growth, while the Company expects the market in 2026 to be increasingly shaped by core consumer drivers such as utility bill savings, energy independence, resilience, regulatory headwinds and rising battery adoption. The broader supply chain and trade backdrop also remained dynamic, with new Commerce tariff actions on Southeast Asian solar imports in April 2025 and a Section 232 investigation into imported polysilicon launched in July 2025. Against that backdrop, SUNation continues to work with suppliers to manage sourcing, control costs, and preserve access to key equipment, while benefiting from state and local support mechanisms such as net metering in New York and Hawaii and Hawaii’s BYOD Plus storage program. BUSINESS STRATEGY AND OUTLOOK Looking ahead, SUNation’s near-term focus remains on navigating the post-tax-credit demand environment through disciplined execution, margin improvement, cost control, cash flow generation, diversification of its core business operations, and continued share gains in its core New York and Hawaii markets. The Company believes its localized operating model, customer-first approach, diversified revenue sources, growing storage and service capabilities position it well to compete even as the broader solar market adjusts to policy changes. From an operating standpoint, the Company’s business remains seasonal, with the first quarter typically the lightest period of the year, improving in the second quarter and with the strongest volume generally occurring in the second half. What gives the Company confidence is not any single quarter or one market dynamic, but rather the combination of a stronger balance sheet, lower debt, improved margins, better operating discipline and a more diversified revenue model. SUNation believes that flexibility will remain important in 2026, and management intends to stay disciplined and adaptive as market conditions evolve, leaning into the parts of the business where demand and economics are strongest. While the Company is not providing formal 2026 guidance at this time (in part as a result of the significantly changed regulatory landscape and the potentially substantive downside effect it may ultimately have on the fiscal year), management believes SUNation is entering the year from a position of greater financial and operational strength, layered in with our contingency planning given the solar industry headwinds noted above. Over the longer term, SUNation intends to pursue selective growth opportunities that build on its existing platform, including accretive or other strategic transactions that lend to a diversified business platform, higher battery attachment rates, expansion of service and repair revenue, targeted commercial and community solar opportunities, and continued product innovation. The Company also expects to broaden its offering in 2026 with the addition of the Generac full home ecosystem, supporting its strategy of delivering more comprehensive energy solutions to homeowners and businesses. Q4 2025 / FY 2025 CONFERENCE CALL Management will host a conference call on Thursday March 19, 2026 at 9:00am ET. Interested parties may participate in the call by dialing: 1-877-407-0784 (Domestic) 1-201-689-8560 (International) Participants may also access the call through a live webcast at https://ir.sunation.com/news-events or via this link: https://viavid.webcasts.com/starthere.jsp?ei=1756551&tp_key=bd28bc361a ABOUT SUNATION ENERGY, INC. SUNation Energy Inc. (Nasdaq: SUNE) is a leading provider of sustainable solar energy and backup power solutions to residential, commercial, and municipal customers. The Company designs, installs, finances, and services solar energy systems and related technologies, helping customers reduce energy costs, increase energy independence, and transition to cleaner energy solutions. For more information, visit ir.sunation.com CONTACTS Scott Maskin Chief Executive Officer SUNation Energy, Inc. [email protected] James Brennan Chief Financial Officer SUNation Energy, Inc. [email protected] SUNation Energy, Inc. Investor Relations Alliance Advisors IR [email protected] 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. FINANCIAL TABLES CONSOLIDATED STATEMENTS OF OPERATIONS Unaudited Table 3: Consolidated Operating Results CONSOLIDATED BALANCE SHEET HIGHLIGHTS (In thousands) Table 4: Balance Sheet Highlights CONSOLIDATED CASH FLOW SUMMARY (In thousands) Table 5: Cash Flow Summary SEGMENT PERFORMANCE SUMMARY (In thousands) Table 6: SUNation NY Segment Results Table 7: Hawaii Energy Connection Segment Results ADJUSTED EBITDA RECONCILIATION 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. Table 8: Reconciliation of GAAP Net Income (Loss) To Adjusted EBITDA

RONKONKOMA, N.Y., March 16, 2026 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE) (“the Company”), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, today announced that it will issue its financial results for the fourth quarter and full year ended December 31, 2025 on Wednesday, March 18, 2026 after the close of the stock market. The Company will host a corresponding conference call on Thursday, March 19, 2026 at 9:00 a.m. ET, to discuss the results. Investors interested in participating in the live call can dial: 1-877-407-0784 (Domestic) 1-201-689-8560 (International) Participants may also access the call through a live webcast at https://ir.sunation.com/news-events or via this link: https://viavid.webcasts.com/starthere.jsp?ei=1756551&tp_key=bd28bc361a The archived online replay will be available for a limited time after the call in the events section of the SUNation corporate website. Questions may be submitted in advance to [email protected] with the subject line “Fourth Quarter and Year End 2025 Questions.” The deadline for submitting questions is March 17 at 5:00 PM ET. About SUNation Energy Inc. SUNation Energy Inc. (Nasdaq: SUNE) is a leading provider of sustainable solar energy and backup power solutions to residential, commercial, and municipal customers. The Company designs, installs, finances, and services solar energy systems and related technologies, helping customers reduce energy costs, increase energy independence, and transition to cleaner energy solutions. For more information, visit ir.sunation.com 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 [email protected] SUNation Energy Investor Relations Alliance Advisors [email protected]

This article first appeared on GuruFocus. Total Q3 Sales: Increased by 29% to $19 million from $14.7 million last year. Residential Sales: Up 54% year over year in Q3. Service Sales: Increased by 72%. Commercial Sales: Declined by $1.7 million. Consolidated Gross Margin: Improved to $7.2 million or 38% of sales from $5.2 million or 35.6% of sales. New York Gross Margin: Improved to 40.7% from 37.9%. Hawaii Gross Margin: Increased to 32.1% from 29.5%. Total Operating Expenses: Rose to $7.5 million from $6.8 million, but declined as a percentage of sales to 39.3% from 46.5%. Interest Expense: Declined to $143,000 from $812,000 last year. Net Loss: Approximately $393,000, a $2.9 million improvement from a net loss of $3.3 million last year. Adjusted EBITDA: Improved to a positive $898,000 from a loss of $1 million last year. Cash and Cash Equivalents: Rose to $5.4 million as of September 30th. Total Debt: Decreased by over $11 million to $7.9 million from $19.1 million at the end of 2024. Shareholders' Equity: Improved to $21.7 million from $8.5 million at the end of 2024. 2025 Sales Guidance: Expected to rise to between $65 million and $70 million. 2025 Adjusted EBITDA Guidance: Expected to improve to between $500,000 and $700,000. Warning! GuruFocus has detected 1 Warning Sign with SUNE. Is SUNE fairly valued? Test your thesis with our free DCF calculator. Release Date: November 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. SUNation Energy Inc (NASDAQ:SUNE) reported a 29% increase in total Q3 sales, reaching $19 million compared to $14.7 million last year. Residential sales in New York and Hawaii markets rose by 54% year over year in Q3. The company's consolidated gross margin improved to 38% of sales, up from 35.6% in the previous year. SUNation Energy Inc (NASDAQ:SUNE) reduced its total debt by over $11 million, bringing it down to $7.9 million. The company achieved a positive adjusted EBITDA of $898,000, a significant improvement from a loss of $1 million in the previous year's third quarter. Commercial sales declined by $1.7 million, indicating challenges in this sector. The company reported a net loss of approximately $393,000 for the quarter, despite improvements. There is uncertainty and potential challenges due to the upcoming expiration of the federal tax credits on December 31, 2025. The market for raising capital in solar is currently difficult, which could impact future growth. SUNation Energy Inc (NASDAQ:SUNE) anticipates a lower than normal Q1 in 2026, reflecting potential market volatility. Q: Can you provide an update on the impact of the 25D expiration and the introduction of new financing options like the prepaid lease plus loan bundle? A: Scott Maskin, CEO: The sunset of the 25D tax credit has significantly impacted markets like New York and Hawaii. We've seen a rush of customers trying to complete installations before the year-end. While this has created a surge, we're also developing new financing tools to adapt post-25D. These tools are evolving, and we believe they will be viable alternatives moving forward. Q: Are you seeing new entrants in the competitive market, particularly in the TPO space, following the 25D expiration? A: Scott Maskin, CEO: Yes, there are new entrants, including major players like Tesla. The market is dynamic, with companies entering and exiting based on capital availability. Despite challenges, we believe that as energy costs rise, solar will remain an attractive option, and established players will continue to dominate. Q: How do you view market growth in 2026, considering predictions of a decline due to the 25D expiration? A: James Brennan, CFO: While we're not providing specific 2026 guidance, we anticipate a typical cycle with a slower Q1 and Q2, followed by stronger Q3 and Q4. The market is adapting, and we expect to continue finding ways to grow despite the challenges. Q: What is Sunation's long-term vision following the One Big Beautiful Bill Act? A: Scott Maskin, CEO: Our strength lies in diversification across residential, commercial, and service sectors. We anticipate growth in the commercial and service industries and are confident in our ability to adapt and thrive in the evolving market landscape. Q: How do you see the commercial market evolving in 2026? A: Scott Maskin, CEO: We've positioned ourselves well with national developers and see significant opportunities in institutional projects like schools. Our strong pipeline and execution capabilities will be a major focus, and we expect continued growth in this sector. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

RONKONKOMA, N.Y., Nov. 13, 2025 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE) (“the Company”), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, today reminded investors that it will host a conference call on Monday, November 17, 2025 at 9:00 a.m. ET to discuss results for the third quarter and nine months ended September 30, 2025. 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. Questions may be submitted in advance to [email protected] with the subject line “Third Quarter 2025 Questions.” 2025 Third Quarter Results Overview The Company’s 2025 third quarter results were issued on November 10, 2025 and can be accessed here. Select highlights of the third quarter included: Sales Increased 29% to $19.0 Million Gross Profit Rose to $7.2 Million; Gross Margin Improved to 38% Net Loss Narrowed to $0.4 Million Adjusted EBITDA Improved to $898,000 Unrestricted Cash Rose to $5.4 Million – Highest Level Since 2022 Total Debt Declined 59% from December 31, 2024 The Company also reiterated its previously issued financial guidance for the full year ending December 31, 2025. 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.

Q3 2025 Select Highlights Sales Increased 29% to $19.0 Million Gross Profit Rose to $7.2 Million; Gross Margin Improved to 38% Net Loss Narrowed to $0.4 Million Adjusted EBITDA Improved to $898,000 Unrestricted Cash Rose to $5.4 Million – Highest Level Since 2022 Total Debt Declined 59% from December 31, 2024 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 Total sales rose 29% to $19.0 million from $14.7 million, driven by a 54% increase in consolidated residential sales at SUNation NY and Hawaii Energy Connection (“HEC”) and a 72% increase in service revenue, partially offset by a decline in commercial contracts. Consolidated gross profit improved to $7.2 million, or 38.0% of sales, from gross profit of $5.2 million, or 35.6% of sales, driven by higher residential margins. Total operating expenses rose to $7.5 million from $6.8 million; as a percentage of sales, total operating expenses improved to 39.3% from 46.5%. Net loss improved to $(0.4) million from a net loss of $(3.3) million. Adjusted EBITDA improved to $0.9 million from an Adjusted EBITDA loss of $(1.0) million. Financial Condition at September 30, 2025 Cash and cash equivalents improved to $5.4 million from $0.8 million at December 31, 2024. Restricted cash and equivalents was stable at $0.3 million. Total debt, which included earnout consideration of $1.0 million, improved 59% to $7.9 million from $19.1 million at December 31, 2024. Accounts payable improved to $7.3 million from $8.0 million at December 31, 2024. Current liabilities improved to $19.0 million from $27.2 million at December 31, 2024. Stockholders’ equity improved to $21.7 million from $8.5 million at December 31, 2024. 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: Total sales are expected to rise to $65 million to $70 million, a projected increase of between 14% and 23% from total sales of $56.9 million in 2024. Adjusted EBITDA is expected to improve to $0.5 million to $0.7 million from an Adjusted EBITDA loss in 2024. 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 [email protected] SUNation Energy Investor Relations [email protected] 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.