ISUN INC - ISUN STOCK NEWS

iSun, Inc. (NASDAQ: ISUN) has secured a $2.4 million contract for solar energy solutions in Wilton, Maine, expanding its portfolio by 4.0 MW to a total of 16.1 MW. This award underscores iSun’s leadership in solar implementation as Maine approaches its Renewable Portfolio Standard goals through 2026. CEO Jeffrey Peck highlighted strong customer demand for solar energy and the company's commitment to aiding communities in transitioning to clean energy.

iSun reported $19.0 million in revenue for Q3 2022, a 185% increase year-over-year and a 15.5% increase from Q2. Gross profit reached $3.6 million, significantly up from $1.3 million in Q3 2021. The company secured $50.2 million in new contracts, raising its backlog to a record $179.1 million. Although operating loss increased to ($4.9) million, improved cash collections led to a new $25 million credit facility. iSun anticipates full-year revenue between $70-75 million, marking a 60-65% growth from 2021.

iSun, Inc. (NASDAQ: ISUN) has announced a debt financing agreement for up to $25 million through Senior Secured Convertible Notes with an institutional investor. The initial funding of $12.5 million was received on November 4 and will be used for debt repayment, fulfilling financial obligations, working capital, and general corporate purposes. The Notes will accrue interest at a rate of 5% and are convertible at $2.66 per share. The company aims to enhance its balance sheet and support its clean energy initiatives.

iSun, Inc. (NASDAQ: ISUN) will release its third quarter 2022 results before the market opens on November 15, 2022. A conference call to discuss these results is scheduled for 8:30 AM ET. Investors can participate by calling 1-888-506-0062 domestically or 1-973-528-0011 internationally, using conference ID 141389. The live webcast will be available on the Company’s Investor Relations website, with a replay accessible one hour post-call. iSun has been a significant player in the solar energy sector, focusing on clean mobility and electrification technology since 1972.

iSun, Inc. (NASDAQ: ISUN) announced the sale of $1.7 million in solar development assets to Fusion Renewable NA and the execution of $8.3 million in EPC contracts. The transactions involve 6.1 MWs of projects located in Vermont, enhancing the company's asset lifecycle management. This strategic move underscores iSun's expertise in solar energy, enabling full engagement in project development while retaining long-term asset ownership through its partnership.

iSun (NASDAQ: ISUN) has secured a $3.0 million contract for 3.2 MW in Maryland, marking its entry into the PJM energy market. This contract signifies ongoing geographic expansion along the East Coast and supports iSun's mission to accelerate the transition to clean energy. CEO Jeffrey Peck emphasized commitment to long-term value creation for investors and the importance of clean energy initiatives. With over 600 megawatts of solar systems installed, iSun continues to reinforce its presence in the renewable energy sector.

iSun (NASDAQ: ISUN) announced three new contracts totaling $9.3 million and 12.1 MW of solar projects in Maine, enhancing their energy portfolio. This addition will build on their existing 18.4 MW of completed projects in the state. The contracts represent a significant step in iSun's mission to expand clean energy solutions and reinforce customer relationships, reflecting their commitment to combat climate change. CEO Jeffery Peck emphasized the importance of these contracts for both customer relations and revenue diversification.

iSun reported second quarter 2022 revenue of $16.5 million, a significant 278% increase from 2021. Year-to-date revenue reached $31.6 million (+172%). Gross profit improved to $3.8 million, with margins at 22.8%. The backlog grew to $147.9 million, reflecting strong customer demand. Despite these gains, iSun recorded a net loss of $5.7 million or ($0.40) per share. The company continues to strengthen its balance sheet and anticipates closing on a new debt facility by Q3 2022.

iSun, Inc. (NASDAQ: ISUN) will announce its second quarter 2022 financial results after market close on August 15, 2022. A conference call is scheduled for August 16, 2022, at 8:30 AM EDT to discuss the results and recent developments. Interested parties can access the webcast through iSun's Investor Relations website. The company focuses on solar energy and clean mobility, leveraging 50 years of experience. Additionally, iSun emphasizes the importance of investing in renewable solar energy technologies.