Altus Power Q2 2022 Earnings Report
Key Takeaways
Altus Power reported a strong second quarter in 2022, marked by a 41% increase in revenue to $24.8 million compared to the same period last year. The company achieved a net income of $21.6 million, a significant turnaround from the previous year's net loss, primarily due to a non-cash gain from fair value remeasurement. Adjusted EBITDA also saw a 37% increase, reaching $13.9 million, and the company reaffirmed its full-year adjusted EBITDA guidance.
Revenue increased by 41% to $24.8 million compared to Q2 2021.
GAAP net income was $21.6 million, a significant improvement from the $0.4 million net loss in Q2 2021, driven by a $21.4 million non-cash gain.
Adjusted EBITDA increased by 37% to $13.9 million compared to Q2 2021.
The company reaffirmed its full year 2022 adjusted EBITDA guidance of $57-63 million.
Altus Power
Altus Power
Forward Guidance
Altus Power reaffirms its full year 2022 adjusted EBITDA guidance range of $57-63 million, as well as guidance for 2022 adjusted EBITDA margin in the mid-50% range.