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Mar 31, 2022
Sunnova Q1 2022 Earnings Report
Announced financial results for the first quarter ended March 31, 2022.
Key Takeaways
Sunnova reported an increase in revenue to $65.7 million for Q1 2022, driven by an increased number of solar energy systems in service and the acquisition of SunStreet. The company reaffirms its full-year 2022 guidance, including customer additions of between 85,000 and 89,000 and adjusted EBITDA of between $117 million and $137 million.
Added 15,300 customers in the first quarter of 2022, bringing total customer count to 207,800 as of March 31, 2022.
Reaffirmed full-year 2022 guidance and major metric growth plan, the Triple-Double Triple Plan.
Published 2021 Environmental, Social, and Governance (ESG) Report, further detailing Sunnova's ESG strategy and performance.
Total liquidity of $703 million as of March 31, 2022.
Revenue by Geographic Location
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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