iSun Inc. Provides Preliminary Second Quarter 2023 Revenue

iSun, Inc. (NASDAQ: ISUN) (the "Company," or "iSun"), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, today announced that preliminary revenue for the second quarter of 2023 ended June 30, 2023, was approximately a record $25 million, an increase of over 50% from the $16.5 million reported for the second quarter of 2022. The year-over-year increase reflects effective execution of the company’s strategy, with sustained strength in its commercial and industrial division, which has been performing robustly in 2023 responding to increased customer demand.

iSun continues to expect that total revenues for the full year 2023 will be $95-100 million, a 24%-31% increase over full year 2022 total revenues, reflecting the new business awards the company continues to secure across its business and its strong execution in working through its growing backlog.

HIGHLIGHTS:

• Preliminary total revenue for second quarter of 2023 of approximately $25 million, a record and an increase of over 50% from the $16.5 million reported for the second quarter of 2022.
• Reaffirms guidance of $95-100 million in revenue for the full year 2023, a 24%-31% increase over total revenues for full year 2022.
• C&I division continues to outpace market growth, responding to higher customer demand and better execution on its growing backlog.
• Company plans to announce final results for the second quarter and first half of 2023 on August 10, 2023.

“We are delighted by the momentum we are demonstrating this year, as we execute effectively on our growth strategy and respond to the increased demand for solar power solutions, especially in our consolidated commercial and industrial division. As we continue to secure new business awards across our markets, we’re confident that our sustained improved performance this year will enable us to achieve our full-year revenue and profitability targets,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun.

Final Second Quarter 2023 Results Timing

iSun plans to issue final second quarter and first half 2023 results before the market opens on Thursday, August 10, 2023.

A conference call to discuss the results will take place at 8:30 AM ET. To participate in the call, please dial 1-888-506-0062 (domestic) or 1-973-528-0011 (international), using conference ID 246871. The live webcast can be accessed through the Company’s Investor Relations website at investors.isunenergy.com.