Vivint Solar increased revenue and widens net loss
Post date: 08/11/2019 - 11:26
U.S. PV distributor and installer Vivint Solar Inc. installed approximately 65 MW in the third Quarter 2019, up 20 percent year-over-year, in 9,458 installations, up 25 percent compared to the same period of 2018. In total as of September 30 the company installed cumulative approximately 1,228 MW, cumulative installations were 178,733. Cost per Watt was $3.48, a decrease from $3.56 in the second quarter of 2019 and an increase from $3.16 in the third quarter of 2018.
Revenue was $104 million, up 33 percent over the third quarter of 2018 ($78 million). Net loss attributable to common stockholders was $13.8 million compared to net loss of $7.8 million in the same period of the previous year.
As the end of Q3 2019, the company had approximately $100 million in undrawn capacity in the forward flow loan facilities, $155 million in undrawn capacity in the warehouse facility, and approximately 126 MW of undeployed tax equity financing capacity. For the fourth quarter of 2019, Vivint Solar expects to install 64 to 67 MW at cost per Watt of $3.46 to $3.54