Sunnova increased revenue and widens loss in Q3 significantly

US residential PV system installer Sunnova Energy International Inc. announced a total number of 72,600 customers as of September 30, 2019, an increase of 15,600 compared to September 30, 2018. Revenue increased year over year by $6.2 million to $36.6 million in the third quarter Regarding the nine month ended September 2019, revenue increased by $18.8 million to $97.9 million compared to the nine months ended September 30, 2018.
Net loss in Q3 was $34.4 million compared to a net loss of $6.6 million in the previous year. »We incurred a net loss of $119.7 million for the nine months ended September 30, 2019 compared to a net loss of $29.3 million for the nine months ended September 30, 2018,« says the company.
The Management reaffirms the full year 2019 guidance of a customer growth rate in annual deployments of at least 30 percent. In 2020, the company targets 23,000 to 27,500 new customers.
© PHOTON

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