SinglePoint Inc. Highlights Improvement in Boston Solar's Q3 FY24 Financial Results, Gross Profit Improves by 15.3%, From 29.8% to 45.1%
SinglePoint Inc. Highlights Improvement in Boston Solar's Q3 FY24 Financial Results, Gross Profit Improves by 15.3%, From 29.8% to 45.1%
- Boston Solar Leadership Change Drives Key Financial Improvements Including Positive Net Operating Income (EBIT) of $418,196
- 波士顿太阳能领导层变更推动关键财务改善，包含正的营业净利润（EBIT）为$418,196
Boston, Massachusetts--(Newsfile Corp. - December 12, 2024) - Boston Solar (), a subsidiary of SinglePoint Inc. (OTC:SING), a leader in renewable energy implementation, is highlighting improved Q3 FY24 financial results as compared to the same period (Q3) of the previous year. These non-GAAP, unaudited financial results demonstrate the impact of the restructuring and operational efficiency improvements implemented in Q1 FY24. In January 2024 Michael Morlino, President - Boston Solar conducted a comprehensive operational review which identified operational inefficiencies, cost savings and labor reductions. SinglePoint Inc. Announces Strategic Achievements in Effort to Achieve Operational Profitability - SinglePoint, Inc (February 23, 2024)
波士顿，马萨诸塞州——（资讯公司 - 2024年12月12日）——波士顿太阳能（），作为SinglePoint Inc.（场外交易:SING）的子公司，是可再生能源实施的领导者，强调2024财年第三季度财务结果相较于去年同期（第三季度）的改善。这些非公认会计原则、未经审计的财务结果显示了在2024财年第一季度实施的重组和运营效率改善的影响。2024年1月，波士顿太阳能总裁Michael Morlino进行了全面的运营评审，识别出运营低效、成本节约和劳动削减。SinglePoint Inc.公布了为实现运营盈利能力而做出的战略成就 - SinglePoint, Inc（2024年2月23日）
According to the Solar Energy Industry Association (SEIA) Solar Market Insight Report published on December 4, 2024, the overall US residential segment is forecasted to grow by 21% in FY25 and 18% in FY26 versus the expected contraction 26% in FY24. Boston Solar reported Q3 F24 Total Income of $5.54 million versus $6.85 million in FY23, down approximately 19.2%. Boston Solar delivered improvements in each of the following key financial metrics including Gross Profit, EBITDA (non-GAAP), Net Operating Income (EBIT), and Net Income.
根据太阳能行业协会（SEIA）于2024年12月4日发布的太阳能市场洞察报告，美国住宅市场整体预计在2025财年增长21%，在2026财年增长18%，而2024财年预计收缩26%。波士顿太阳能报告2024财年第三季度总收入为554万，相较于2023财年的685万，下降约19.2%。波士顿太阳能在以下关键财务指标上均实现了改善，包括毛利润、EBITDA（非GAAP）、营业净利润（EBIT）和净利润。
| 3rd Quarter Comparison (July 1 to September 30) | ||||||
| US$ | 2024 | % | 2023 | % | ||
| Total Income | $5,539,939 | 100.0% | $6,853,405 | 100.0% | ||
| Gross Profit | 2,500,773 | 45.1% | 2,045,602 | 29.8% | ||
| EBITDA (non-GAAP) | 529,431 | 9.6% | (19.445) | -0.3% | ||
| Net Operating Income (EBIT) | 418,196 | 7.5% | (366,595) | -5.3% | ||
| Net Income | ($103,363) | -1.9% | ($375,440) | -5.5% | ||
| Year-On-Year Change | ||||||
| Net Income Change | $272,078 | 72.5% | ($318,076) | -26.5% | ||
| 第三季度比较（7月1日至9月30日） | ||||||
| 美元 | 2024 | % | 2023 | % | ||
| 总收入 | $5,539,939 | 100.0% | $6,853,405 | 100.0% | ||
| 毛利润 | 2,500,773 | 45.1% | 2,045,602 | 29.8% | ||
| 息税折旧摊销前利润（非GAAP） | 529,431 | 9.6% | (19.445) | -0.3% | ||
| 净营业收入（EBIT） | 418,196 | 7.5% | (366,595) | -5.3% | ||
| 净利润 | ($103,363) | -1.9% | ($375,440) | -5.5% | ||
| 同比变化 | ||||||
| 净利润变动 | $272,078 | 72.5% | ($318,076) | -26.5% | ||
Operational and Financial Highlights for Q3 FY24:
2024财年第三季度的运营和财务亮点：
- Total Income: $5.54 million, reflecting a slight year-over-year decrease from $6.85 million in FY23, aligned with broader FY24 US solar industry trends.
- 总收入：$554万，与2023财年的$685万相比，略有减少，符合2024财年美国太阳能行业的整体趋势。
- Gross Profit: $2.50 million (45.1%) versus $2.04 million (29.8%) in FY23, representing a 15.3 percentage point increase primarily driven by cost savings and operational efficiency improvements.
- 毛利润：$250万（45.1%）相比于2023财年的$204万（29.8%），增加了15.3个百分点，主要得益于成本节约和运营效率的提高。
- Net Operating Income (EBIT): $418,196 (7.5% of Total Income) versus a loss of -$366,595 (-5.3%) in FY23, highlighting a 12.8% improvement.
- 净运营收入（EBIT）：$418,196（总收入的7.5%），相比于2023财年的-$366,595（-5.3%），显示出12.8%的改善。
- Net Income: -$103,362 (-1.9% of Total Income), a 72.5% year-over-year improvement from -$375,440 (-5.5%) in FY23.
- 净利润：-$103,362（总收入的-1.9%），相比于2023财年的-$375,440（-5.5%），年同比改善72.5%。
Gross Profit for FY24 increased to $2.50 million, representing 45.1% of Total Income, compared to $2.04 million (29.8%) in FY23. This 15.3%increase reflects the company's focus on cost reduction and optimization to enhance profitability at the to improve cash flow. Installed projects have increased from 4-6 per week to 8+ projects per week.
2024财年的毛利润增加至$250万，占总收入的45.1%，相比于2023财年的$204万（29.8%）。这一15.3%的增长反映了公司在降低成本和优化方面的关注，以提高盈利能力和改善现金流。已安装的项目从每周4-6个增加到每周8个以上。
Notably, the company achieved a significant turnaround in Net Operating Income (EBIT), reporting $418,196 (7.5% of Total Income) compared to a negative EBIT of -$366,595 (-5.3%) in the same comparable period in FY23. The 12.8% improvement is a direct result of Boston Solar's relentless commitment to bottom line improvements. Boston Solar eliminated $3.5 million in overhead expenses as a result of the strategic improvements identified in Q1 FY24.
值得注意的是，公司在净运营收入（EBIT）方面实现了显著的扭转，报告为$418,196（总收入的7.5%），相比于2023财年同一可比期间的负EBIT-$366,595（-5.3%）。12.8%的改善直接得益于波士顿太阳能公司对改善底线的坚定承诺。波士顿太阳能公司通过在2024财年第一季度识别的战略改进，消除了$350万的间接费用。
Net Income remained negative at -$103,362 (-1.9% of Total Income) in FY24, it was a substantial year-over-year improvement from the -$375,440 (-5.5%) recorded in FY23. This progress represents a 72.5% improvement in Net Income Year-over-Year (YoY).
在2024财年，净利润仍然为负，达到了-$103,362（总收入的-1.9%），相比于2023财年的-$375,440（-5.5%），实现了显著的同比改善。这一进展代表了净利润同比提升了72.5%。
"We are encouraged by the progress made throughout the year which started to materialize in this quarters results, especially the improvement in Gross Margin to 45.1% and the positive Net Operating Income of $418,196" stated Wil Ralston, CEO of SinglePoint. "Boston Solar's performance during one of the most challenging downturns in residential solar history is nothing short of remarkable. These results validate the transformative steps we've taken to revitalize operations, enhance efficiency, and build a stronger foundation for sustainable growth."
SinglePoint首席执行官Wil Ralston表示："我们对全年取得的进展感到鼓舞，这在本季度的结果中开始显现，特别是毛利率提高到45.1%和正的营业净收入$418,196。"他说："在住宅太阳能历史上最具挑战性的衰退期之一，Boston Solar的表现令人瞩目。这些结果验证了我们为振兴运营、提高效率和建立可持续增长的更强基础而采取的变革性步骤。"
Strategic Improvements and Outlook:
战略改进和展望：
- Profitability Focus: Boston Solar's turnaround initiatives, including restructuring efforts and disciplined expense management are driving profitability and improving cash flow
- Operational Efficiency: Analyzing and optimizing workflow processes have increased weekly installation throughput
- Future Growth: Leadership has successfully navigated the challenges facing the solar industry in FY23 and delivering key financial metric improvements which will enable us to grow revenue and continue to improve profitability as the US solar industry is expected to return to growth in FY25 of 21%.
- 利润关注：Boston Solar的扭转举措，包括重组努力和有纪律的费用管理，正在推动盈利能力并改善现金流。
- 运营效率：分析和优化工作流程，提高了每周的安装产出。
- 未来增长：领导层成功应对了2023财年太阳能行业面临的挑战，并交付了关键财务指标的改善，这将使我们能够增加营业收入，并在美国太阳能行业预计在2025财年回归21%的增长的背景下，继续改善盈利能力。
Ralston added: "I am proud to say that the daily execution by the team at Boston Solar is now delivering improvements in almost every financial measurement and I look forward to sharing more positive results as they continue to execute. The Q3 FY24 results demonstrate Boston Solar's resilience and commitment to delivering long-term value for stakeholders. As the renewable energy sector adapts to evolving market conditions, Boston Solar and SinglePoint remain focused on driving operational profitability, enhancing efficiency, and leveraging innovation to capitalize on growth opportunities"
Ralston补充道："我很自豪地说，Boston Solar团队的日常执行现在几乎在所有财务指标上都在取得改善，我期待着分享更多积极的结果，因为他们将继续执行。2024财年第三季度的结果展示了Boston Solar的韧性以及对为利益相关者提供长期价值的承诺。随着可再生能源板块适应不断变化的市场条件，Boston Solar和SinglePoint将继续专注于推动运营盈利能力、提升效率，并利用创新来抓住增长机会。"
About Boston Solar
关于波士顿太阳能
Boston Solar is a subsidiary of SinglePoint Inc. (OTC: SING). Since its founding in 2011, Boston Solar has installed more than 6,000 residential and commercial solar arrays, powering thousands of homes and businesses in New England, primarily in Massachusetts. The mission of Boston Solar is to provide superior clean energy products, exceptional customer service, and the highest-quality artistry in residential and commercial installations.
波士顿太阳能是SinglePoint Inc.（场外交易：SING）的子公司。自2011年成立以来，波士顿太阳能已安装超过6000个住宅和商业太阳能电池板，为新英格兰，主要是马萨诸塞州的数千个家庭和企业提供电力。波士顿太阳能的使命是提供卓越的清洁能源产品、优质的客户服务，以及在住宅和商业安装中最高质量的工艺。
Boston Solar has accumulated several distinctions of recognition;
波士顿太阳能获得了多项认可的荣誉；
- Honored with Guildmaster Award from GuildQuality, the award acknowledged how Boston Solar demonstrated exceptional customer service within the residential construction industry.
- Named a Top Solar Contractor by Solar Power World magazine for five consecutive years.
- Recognized by the Boston Business Journal's "Largest Clean Energy Companies in Massachusetts" list.
- 荣获GuildQuality的Guildmaster奖，该奖项表彰波士顿太阳能在住宅施工行业中表现出的卓越客户服务。
- 连续五年被《太阳能电力世界》杂志评选为顶级太阳能承包商。
- 被《波士顿商业日报》列为"马萨诸塞州最大的清洁能源公司"。
Boston Solar is a Solar Energy Business Association of New England (SEBANE) member. The company is headquartered at 12 Gill St. Suite - 5650 Woburn, MA 01801. Learn more at:
波士顿太阳能是新英格兰太阳能业务协会（SEBANE）的会员。公司总部位于马萨诸塞州沃本市吉尔街12号，邮政编码01801，套房-5650。了解更多信息，请访问：
About SinglePoint Inc.
关于SinglePoint Inc.
SinglePoint Inc. () is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies that enhance sustainability and a healthier life. For more information, visit the Company's website ().
SinglePoint Inc.（）是一家专注于可再生能源和可持续生活的公司，致力于提供环保的能源效率和健康生活解决方案。SinglePoint最初的目标是建立最大的可再生能源解决方案网络，并对传统的太阳能和能源存储模式进行现代化改造。该公司还积极探索未来在空气净化、电动车充电、太阳能订阅服务以及增强可持续性和健康生活的其他能源效率方面的增长机会。有关更多信息，请访问公司网站（）。
Forward-Looking Statements
前瞻性声明
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, the use of proceeds, anticipated growth and future expansion, are forward-looking statements that involve risks and uncertainties.
本新闻稿中的某些声明可能包含根据1933年证券法第175条和1934年证券交易法第30亿.6条的定义的前瞻性信息，并受这些规则创建的安全港保护。本公告中包含的所有声明，除了事实声明外，包括但不限于关于公司潜在计划和目标、收益使用、预计增长和未来扩展的声明，均为前瞻性声明，涉及风险和不确定性。
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
不能保证此类声明将被证明是准确的，实际结果和未来事件可能与预期的差异显著。
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
可能出现的技术复杂性可能会阻碍任何上面概述的战略重要计划的及时实施。公司不承担修订或更新任何前瞻性声明以反映本公告发布日期后的事件或情况的责任。
Media Contact:
Michael Morlino,
Presidentinfo@bostonsolar.us
Investor Relations Contact:
SinglePoint Inc
investor@singlepoint.com
888-682-7464
媒体联系人：
Michael Morlino，
Presidentinfo@bostonsolar.us
投资者关系联系：
SinglePoint 公司
investor@singlepoint.com
888-682-7464
