Company: SUNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0000022701-25-000002
Chunk: 28

Company: SUNation Energy, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 28
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 27,268,999 The following table disaggregates revenue based on the timing of satisfaction of the performance obligations for the years ended December 31, 2024 and 2023:              SUNation HEC  2024  2023 2024  2023Performance obligations satisfied at a point in time$ 33,032,893 $ 42,460,273$ 16,699,132 $ 25,888,533Performance obligations satisfied over time  6,700,469   9,903,437  429,259   1,380,466 $ 39,733,362 $ 52,363,710$ 17,128,391 $ 27,268,999  Contract Balances Contract assets represent costs and earnings in excess of amounts billed and direct costs, including commissions, financing and permitting fees paid prior to recording revenue. Contract liabilities represent amounts billed to clients in excess of revenue recognized to date and billings in excess of costs and earnings. Contract assets were $560,648 and $57,241 at December 31, 2024 and 2023, respectively.  Contract liabilities were $2,314,483 and $2,552,452 at December 31, 2024 and 2023, respectively. Due to the shorter-term nature of our contracts, the balances within contract assets and liabilities as of December 31, 2023 has been recognized within cash and revenue, respectively, during the year ended December 31, 2024.  NOTE 4 – CONTRACTS IN PROGRESS Billings in excess of costs and estimated earnings as of December 31, 2024 and 2023 are as follows:          Year Ended December 31 2024 2023      Billings to date$ 3,055,354 $ 2,131,579      Costs incurred on uncompleted contracts  1,120,213   1,208,444Estimated earnings  1,490,831   483,046Cost plus estimated earnings  2,611,044   1,691,490      Billings in excess of costs plus estimated earnings on uncompleted contracts$ 444,310 $ 440,089

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  Costs and estimated earnings in excess of billings as of December 31, 2024 and 2023 are as follows:         Year Ended December 31 2024 2023      Costs incurred on uncompleted contracts