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Dec 31, 2019
Sunnova Q4 2019 Earnings Report
Announced financial results for the fourth quarter and full-year ended December 31, 2019.
Key Takeaways
Sunnova reported a revenue increase to $33.6 million for the quarter, with a net loss of $13.8 million. Adjusted EBITDA stood at $10.8 million, driven by customer growth outpacing expenses. The company's total number of customers reached 78,600 as of December 31, 2019.
Added over 18,000 customers in 2019, a 30% year-over-year increase.
Storage attachment rate on origination increased to 24% in Q4 2019.
Revenue increased to $33.6 million for Q4 2019.
Adjusted EBITDA was $10.8 million for Q4 2019.
Sunnova
Sunnova
Sunnova Revenue by Geographic Location
Revenue by Geographic Location
Total Revenue
CapyFin.com Forward Guidance
Management announced updates to 2020 full-year guidance.
Positive Outlook
- Increase guidance on customer additions from 23,000 - 27,500 to 28,000 - 30,000
- Increase guidance on Adjusted EBITDA from $55 million - $60 million to $58 million - $62 million
- Increase guidance on customer principal payments received from solar loans, net of amounts recorded in revenue from $30 million - $35 million to $32 million - $36 million
- Increase guidance on customer interest payments received from solar loans from $15 million - $20 million to $17 million - $21 million
- Increase guidance on Adjusted Operating Cash Flow from $5 million - $15 million to $10 million - $20 million