SUNation Energy, Inc. ( SUNE ) shares are surging on Thursday after the company reported fourth-quarter results on Wednesday after market close.

Earnings Snapshot

Revenue escalated 77% year over year to $27.2 million, led by strong residential demand in both New York and Hawaii, as customers accelerated activity ahead of the Section 25D sunset.

Gross profit rose to $11.1 million from $5.6 million, and gross margin expanded to 40.7% from 36.4% in the prior-year quarter.

EPS came in at $1.81 in the quarter.

Also, the company reported adjusted EBITDA of $4.1 million, compared to an adjusted EBITDA loss of $1.1 million in the fourth quarter of 2024.

As of year-end, cash and cash equivalents stood at $7.2 million.

Key Metrics

In 2025, the company retained its position as the top-ranked solar contractor in its region by installed capacity, while Long Island saw a 29% Y/Y increase in total capacity.

In Hawaii, the growing demand for storage and grid services is driven by the BYOD Plus program, strong battery adoption, and residential revenue per watt.

Overall revenue rose 30% to $22.3 million, with residential contract revenue up 31%.

Outlook

The company says that seasonality remains a factor in the first quarter, with the first quarter being the slowest and the strongest volumes in the second half.

In the long term, SUNation plans selective growth initiatives, including strategic transactions, higher battery attachment rates, expanded service and repair revenue, targeted commercial and community solar projects, and ongoing product innovation.

In 2026, the company also aims to enhance its offerings with the Generac full-home ecosystem, advancing its strategy of comprehensive energy solutions for homeowners and businesses.

SUNE Price Action: SUNation Energy shares were up 34.72% at $1.94 during premarket trading on Thursday, according to Benzinga Pro data.