Sunnova Q2 2022 Earnings Report
Key Takeaways
Sunnova reported a revenue increase to $147.0 million for the second quarter of 2022, driven by an increased number of solar energy systems in service and increased inventory sales. The company added 17,300 customers, bringing the total customer count to 225,000. They incurred a net loss of $9.7 million, which is lower compared to the previous year, and Adjusted EBITDA was $39.7 million.
Added 17,300 customers in the second quarter of 2022, bringing total customer count to 225,000 as of June 30, 2022.
Reaffirmed full-year 2022 guidance and our major metric growth plan, the Triple-Double Triple Plan.
Customer payment performance remains strong.
Cost per customer is declining faster than expected despite high growth.
Sunnova
Sunnova
Forward Guidance
Sunnova management reaffirms its 2022 guidance of: •Customer additions of between 85,000 and 89,000; •Adjusted EBITDA of between $117 million and $137 million; •Customer interest payments received from solar loans of between $45 million and $55 million; and •Customer principal payments received from solar loans, net of amounts recorded in revenue, of between $134 million and $154 million.
Positive Outlook
- Customer additions of between 85,000 and 89,000
- Adjusted EBITDA of between $117 million and $137 million
- Customer interest payments received from solar loans of between $45 million and $55 million
- Customer principal payments received from solar loans, net of amounts recorded in revenue, of between $134 million and $154 million