Stardust Power 2025 Q3 Earnings 55.8% Net Loss Reduction

Stardust Power (SDST) reported Q3 2025 results on November 14, 2025, with a GAAP EPS of -$0.53, missing estimates by $0.13. The company narrowed its net loss to $4.46 million, a 55.8% improvement year-over-year, while cash reserves stood at $1.6 million.

Revenue

The company reported zero revenue for Q3 2025, consistent with the prior-year period, as it remains in pre-revenue development for its lithium refinery project.

Earnings/Net Income

Stardust Power reduced its net loss to $4.46 million in Q3 2025 from $10.09 million in the same period of 2024, marking a 55.8% year-over-year improvement. The per-share loss narrowed to $0.53 from $2.23, reflecting enhanced cost management and reduced general and administrative expenses.

Price Action

The stock price surged 3.50% on the latest trading day but declined 10.96% weekly and 29.75% month-to-date, reflecting volatile investor sentiment.

Post-Earnings Price Action Review

The strategy of buying Stardust Power shares on quarterly earnings dates and holding for 30 days underperformed the market over the past three years, with a cumulative return of -46.2%. This indicates the strategy failed to capitalize on positive gains, resulting in significant losses relative to the benchmark.

CEO Commentary

Stardust Power CEO Roshan Pujari emphasized progress toward operational milestones and cost efficiency.

In the earnings call, he highlighted the completion of the FEL-3 engineering report for the Muskogee refinery, reducing capital expenditure estimates by $200 million, and securing 13,500 metric tons of lithium chloride feedstock. Pujari expressed cautious optimism about the refinery’s potential to bolster U.S. energy security, while acknowledging ongoing financial constraints and the need for additional capital. The tone reflected strategic focus on execution amid resource limitations.

Guidance

The company did not provide explicit forward-looking financial guidance in the Q3 2025 report. However, it outlined plans to pursue equity or debt financing to fund the $500 million refinery project and emphasized advancing toward a final investment decision.

Additional News

Stardust Power completed a business combination with Global Partner Acquisition Corp II in a reverse recapitalization, regaining Nasdaq compliance. The company also secured supply agreements for 13,500 metric tons of lithium chloride feedstock, critical for its refinery’s operations. Additionally, insiders sold over 398,000 shares in the past six months, raising questions about internal confidence. Institutional investors, including Vanguard and UBS, added shares to their portfolios in Q3 2025, signaling cautious market interest.