Emeren Group Ltd reported its financial results for the first quarter ended March 31, 2025. The company's total net revenue decreased to $8.2 million from $14.6 million in the prior-year period, primarily due to a decline in EPC services and DSA revenue.
Despite the lower revenue, Emeren achieved a net income of $1.5 million in Q1 2025, a significant improvement from a net loss of $5.5 million in Q1 2024. This was largely driven by a substantial unrealized foreign exchange gain of $6.2 million, compared to a $3.3 million unrealized foreign exchange loss in the prior-year period.
The gross margin improved significantly to 39.4% from 29.6% in Q1 2024, primarily due to the favorable contribution from the higher-margin electricity generation (IPP) segment, which saw revenue increase to $6.7 million from $5.4 million.
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