SunHydrogen Reports Improved Net Loss of $1.74 Million for Quarter Ended March 31, 2025

SunHydrogen, Inc. reported its financial results for the three and nine months ended March 31, 2025, revealing a net loss of $1.74 million for the quarter, a significant improvement from the $4.02 million loss recorded in the same period last year. For the nine-month period, the company reported a net loss of $7.26 million, down from $7.50 million in the prior year. The company has not generated any revenue during these periods, maintaining a focus on research and development of its solar-powered hydrogen production technology.

Operating expenses for the three months ended March 31, 2025, totaled $2.14 million, compared to $1.83 million for the same period in 2024. The increase was primarily driven by higher research and development costs, which rose to $1.13 million from $750,583 year-over-year. Other income for the quarter improved significantly to $399,750, compared to a loss of $2.19 million in the prior year, largely due to an unrealized gain on investments. The company’s total assets decreased to $38.56 million as of March 31, 2025, down from $43.37 million at the end of the previous fiscal year.

In terms of strategic developments, SunHydrogen has continued to focus on its core technology, which aims to produce renewable hydrogen using sunlight and water. The company has not made any acquisitions or significant organizational changes during the reporting period. However, it has been actively pursuing opportunities for investment and acquisition of complementary hydrogen technologies to enhance its market position. The company’s cash and cash equivalents decreased to $32.20 million from $39.04 million, reflecting cash used in operating activities and investments.

Operationally, SunHydrogen's employee headcount remains stable, and the company continues to engage in research collaborations with institutions such as the University of Iowa and the University of Michigan. The company has extended its research agreements with these universities, committing to a maximum of $302,459 and $252,246, respectively, for ongoing projects. The company’s working capital decreased to $37.96 million from $42.39 million, primarily due to a reduction in equity securities related to its investments.

Looking ahead, SunHydrogen's management expressed optimism about its ability to raise capital through financing transactions to support ongoing operations and technology development. The company aims to position itself as a leader in the renewable hydrogen market, with a target production cost of $2.50 per kilogram, which it believes will make its technology competitive with existing hydrogen production methods. However, the company acknowledges that its future success is contingent upon securing sufficient funding and achieving technological milestones.