Sunrun narrows web loss in Q2 as revenues develop 46%

August 5 (Renewables Now) – US residential photo voltaic and storage supplier Sunrun Inc (NASDAQ:RUN) narrowed its web loss attributable to widespread stockholders to USD 12.4 million (EUR 12.1m) within the second quarter of 2022 from USD 41.2 million a yr earlier as revenues expanded 46%.

The corporate put in 246.5 MW within the quarter, up 33% year-over-year and barely above the highest finish of its steerage. Third-quarter installations are seen at between 250 MW and 260 MW and Sunrun confirmed its expectations for photo voltaic power capability put in progress of at the least 25% for the total yr.

Beneath are some figures from the corporate’s outcomes, launched this week:

in USD million Q2 2022 Q2 2021 H1 2022 H1 2021
Whole income 584.6 401.2 1,080 736
–customer agreements and incentives 259.9 219.5 469.6 394.1
–solar power methods and product gross sales 324.7 181.7 610.8 341.9
Working bills 739.9 542.9 1,417 1,056
Revenue (loss) from operations (155.3) (141.8) (336.8) (320.3)
Internet revenue (loss) (209.8) (213.4) (366.2) (417.7)
Internet revenue (loss) attributable to widespread stockholders (12.4) (41.2) (100.2) (65)

The corporate stated subscriber worth within the second quarter was USD 38,712, with web subscriber worth growing to USD 7,910 from USD 7,141 within the first quarter of 2022.

“The changes we made to our choices in response to greater enter and capital prices earlier this yr have been obtained nicely, and these adjustments are partially mirrored in our greater Internet Subscriber Worth throughout Q2 and our outlook is for even greater Internet Subscriber Worth in Q3,” commented chief monetary officer Danny Abajian.

Throughout the quarter the corporate added 34,403 clients, together with 25,339 subscribers, taking its whole variety of clients to 724,177, which is 21% greater than a yr in the past.

(USD 1 = EUR 0.982)

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