- Adjusted EBITDA loss narrowed to $16.4 million from $20.1 million year-over-year.
- Adjusted net loss per share improved to $0.95 from $1.74, excluding noncash impairments and restructuring costs.
- Backlog grew 4% to $1.24 billion, including $24 million product backlog and $7.7 million service backlog from CGN agreement.
- Loss from operations widened to $95.4 million in Q3 2025 from $33.6 million in Q3 2024, driven by $64.5 million noncash impairment and $4.1 million restructuring expenses.
- Net loss attributable to common stockholders was $92.5 million, or $3.78 per share, compared to $33.5 million, or $1.99 per share, in the prior year quarter.
- Product revenues surged to $26 million from $0.3 million, driven by module deliveries to GGE and Ameresco contracts.
- Service agreement revenues increased to $3.1 million from $1.4 million, mainly from GGE long-term service agreement.
- Total revenues increased 97% year-over-year to $46.7 million in Q3 2025 from $23.7 million in Q3 2024.
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