Canadian Solar Inc. announced its financial results for the first quarter of 2025, reporting net revenues of $1.2 billion, which is at the high end of their guidance range of $1.0 billion to $1.2 billion. The company also reported a 9.4% year-over-year increase in solar module shipments to 6.9 GW, surpassing the guidance of 6.4 GW to 6.7 GW. The gross margin for the quarter was 11.7%, exceeding the guidance range of 9% to 11%. The net loss attributable to Canadian Solar, according to GAAP, was $34 million. Additionally, the company expanded its e-STORAGE pipeline to a record 91 GWh, including a $3.2 billion contracted backlog as of March 31, 2025. Looking ahead, Canadian Solar expects its second-quarter performance to be bolstered by strong energy storage shipments. The company anticipates total revenue for the year to be in the range of $6.1 billion to $7.1 billion. Recent developments include the launch of the N-type high-power TOPBiHiKu CS6.2 module series, which features the latest TOPCon cell technology with a maximum power output of up to 660 Wp and a conversion efficiency of up to 24.4%.