Canadian Solar announced its second-quarter results, with a net loss of $77 million, a 29% year-over-year decrease in revenue, and a gross margin that fell to 13.9% from 29.8% in the same period last year. Operating expenses increased by 21% quarter-over-quarter, leading to an operating loss of $71 million. However, the company's total backlog grew to approximately $8 billion, including over 13 GWp of module orders valued at more than $4.5 billion, and $3.5 billion in energy storage backlog. Phase 1 (2.1 GWp) of the company's heterojunction solar cell factory in Jeffersonville, Indiana, is expected to be fully operational by October 1, with Phase 2 pushing total capacity to 6.3 GWp by 2027, making it the largest crystalline silicon cell factory in North America.