Vivint increased revenue and decreased loss in 2016

US installer Vivint Solar, Inc. announced financial results for Q4 and full year 2016. In the fourth Quarter the company installed approximately 47 MW. Installations were 6,460 for the quarter. Cost per Watt was $3.08, an increase from the third quarter of 2016 and down from $3.12 in the fourth quarter of 2015. Total revenue was $41.8 million, up 161 percent from $16.0 million in the fourth quarter of the prior year. Net loss was $45 million, compared to net loss of $53 million in the same quarter of the previous year.
Regarding the full year 2016, total revenue was $135.2 million, up 111 percent from $64.2 million in the prior year. Net loss was $242 million, compared to $253 million in 2015. At the end of 2016, Vivint’s cumulative installed capacity amounted to 681 MW (2015: 458 MW).
For the first quarter of 2017 the company expect to install 43 to 46 MW at $2.95 to $3.05 per Watt. For the full year 2017, Vivint expect to install 210 to 230 MW at $2.82 to $2.94 per Watt.
© PHOTON

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