Emeren Group Ltd announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, revenue was $34.6 million, a 23% year-over-year decline primarily due to project delays, but a 169% sequential increase. Gross profit was $4.8 million, with a gross margin of 13.9%.
For the full year 2024, Emeren generated $92.1 million in revenue and $24.1 million in gross profit, achieving a 26% gross margin. The company reported an operating loss of $0.5 million and a net loss of $12.5 million, primarily due to non-cash foreign exchange losses. However, Emeren generated $10.5 million in operating cash flow and over $5 million in free cash flow in Q4 2024, ending the year with $50.0 million in cash.
Emeren provided full-year 2025 revenue guidance between $80 million and $100 million, with a gross margin of 30% to 33%. IPP and DSA segments are expected to contribute over 70% of total revenue, with IPP revenue guided at $28 million to $30 million and DSA revenue at $35 million to $45 million. The company anticipates achieving positive operating cash flow for the full year 2025.
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