Investor Presentation
TM
Sunnova
Financial Statements & Operating Metrics
(dollars in thousands; customer counts and per customer values in units; customer values in millions)
BALANCE SHEET
As of
Assets
Current assets:
Cash
Accounts receivable - trade, net
Accounts receivable - other
Channel partner advances
Other current assets
Total current assets
Property and equipment, net
Customer notes receivable, net
Other assets
Total assets
Liabilities, Redeemable Noncontrolling Interests and Stockholders' Equity
Current liabilities:
Accounts payable
Accrued expenses
Current portion of long-term debt
Other current liabilities
Total current liabilities
Long-term debt, net
Other long-term liabilities
Total liabilities
Redeemable noncontrolling interests
Stockholders' equity
Total liabilities, redeemable noncontrolling interests and stockholders' equity
INCOME STATEMENT
Period
Revenue
Operating expense:
כן
3/31/17
6/30/17
9/30/17
12/31/17
3/31/18
6/30/18
9/30/18
12/31/18
3/31/19
6/30/19
$25,429
4,465
$27,172
6,383
4,733
10,242
$15,509
5,222
2,442
$56,318
4,331
7,821
$100,026
$53,723
5,197
5,744
7,728
$71,149
7,650
$52,706
$43,858
$58,776
6,312
7,363
11,150
7,571
10,050
3,721
3,153
4,531
7,009
9,255
12,306
6,514
7,540
$48,150
$60,592
7,016
$42,495
12,807
$81,277
13,787
$124,754
20,148
$89,170
18,088
$106,937
26,794
$89,533
31,580
$85,954
34,546
$109,003
919,187
974,285
44,092
45,805
$1,057,234
52,455
47,378
$1,134,710
1,044,741
60,435
51,641
$1,199,312
1,113,073
73,657
60,781
$1,328,788
1,165,281
93,714
71,264
$1,455,013
1,224,378
118,872
78,146
$1,510,566
1,280,802
143,682
93,814
$1,625,235
1,328,457
172,031
75,064
$1,665,085
1,399,299
197,780
86,430
$1,769,463
1,499,891
223,645
120,125
$1,952,664
$20,501
7,770
$24,400
$27,997
11,464
11,957
237,420
4,356
$270,047
4,135
6,117
$46,116
25,550
3,652
$69,156
$23,867
13,976
107,628
8,424
$153,895
$18,838
11,206
101,301
7,527
$138,872
$21,377
10,770
356,695
10,109
$398,951
$25,612
$20,075
$34,904
$45,134
16,436
365,821
6,636
$414,505
18,650
12,495
18,861
43,465
51,470
75,908
13,214
11,206
18,701
$95,404
$110,075
$158,604
420,731
28,276
$719,054
735,423
33,239
$814,778
765,883
38,398
$873,437
723,697
41,422
$919,014
1,986
336,194
$1,057,234
7,286
312,646
$1,134,710
22,992
302,883
$1,199,312
38,590
371,184
$1,328,788
763,015
42,747
$944,634
49,357
461,022
$1,455,013
543,536
48,195
$990,682
65,230
454,654
$1,510,566
572,303
53,057
$1,039,865
73,348
512,022
$1,625,235
916,430
66,453
$1,078,287
85,680
501,118
$1,665,085
1,016,412
75,645
$1,202,132
94,016
473,315
$1,769,463
1,152,884
92,044
$1,403,532
107,547
441,585
$1,952,664
1Q 2017
2Q 2017
$14,952
$21,743
3Q 2017
$22,359
4Q 2017
1Q 2018
2Q 2018
3Q 2018
4Q 2018
1Q 2019
2Q 2019
$17,802
$19,784
$28,963
$30,429
$25,206
$26,715
$34,612
Cost of revenue -
depreciation
Cost of revenue - other
Other operating expenses
Total operating expense, net
Operating income (loss)
5,881
303
14,629
6,122
314
14,186
6,701
398
14,644
7,192
429
7,845
412
8,274
448
16,412
18,679
17,806
9,349
614
17,062
9,242
9,653
10,225
533
652
1,076
27,848
20,917
26,021
20,813
20,622
21,743
24,033
26,936
26,528
27,025
37,623
31,222
37,322
(5,861)
1,121
616
(6,231)
(7,152)
2,435
3,404
(12,417)
(4,507)
(2,710)
Interest expense, net
6,928
25,153
15,523
12,243
4,983
10,724
9,416
26,459
31,661
37,310
Interest expense, net - affiliates
6,561
11,428
2,665
2,523
2,493
2,354
2,398
2,303
1,822
1,575
Interest income
(618)
(766)
(854)
(959)
(1,192)
(1,418)
(1,763)
(2,077)
(2,494)
(2,967)
Loss on extinguishment of long-term debt, net - affiliates
10,645
Other (income) expense
(1)
534
Loss before income tax
(18,732)
(34,694)
(16,718)
(20,038)
(13,436)
(9,224)
(6,647)
(39,102)
(35,496)
(49,807)
Income tax
Net loss
(18,732)
Net income (loss) attributable to redeemable noncontrolling interests
1,558
(34,694)
128
Net loss attributable to stockholders
(20,290)
(34,822)
(16,718)
213
(16,931)
(20,038)
(996)
(19,042)
(13,436)
(9,224)
(6,647)
(39,102)
(35,496)
(49,807)
774
(14,210)
3,350
(12,574)
(13)
(6,634)
1,726
(40,828)
3,018
(38,514)
931
(50,738)
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