Sunrun inc. (RUN)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Sep'14Jun'14
Revenue:
Revenue

210,731

243,937

215,542

204,595

194,504

240,120

204,960

170,538

144,363

152,265

144,546

130,622

105,109

143,793

112,033

122,538

98,743

99,639

82,600

72,690

49,677

56,076

51,939

Operating expenses:
Sales and marketing

70,270

71,679

77,478

70,038

55,953

57,158

56,758

49,237

44,079

38,317

39,921

35,056

33,132

41,641

40,192

43,716

43,188

41,193

45,382

33,976

24,926

23,445

17,173

Research and development

4,046

5,099

6,435

6,555

5,474

5,292

4,604

5,052

3,896

4,437

3,936

3,710

2,996

2,905

2,458

2,373

2,463

2,638

2,240

2,492

2,287

2,036

1,999

General and administrative

28,074

31,857

31,059

33,044

29,063

28,916

26,720

28,130

32,893

29,639

27,925

25,228

24,608

24,223

21,331

23,614

23,248

22,973

21,486

19,677

20,306

17,700

20,037

Amortization of intangible assets

1,483

1,569

1,524

814

893

1,047

1,051

1,051

1,051

1,046

1,052

1,051

1,051

1,046

1,051

1,051

1,052

1,051

1,051

1,051

542

575

655

Total operating expenses

273,748

292,364

275,886

267,393

238,675

246,774

228,507

205,507

201,074

198,851

189,721

171,272

153,831

169,592

163,066

170,962

165,563

164,801

145,350

118,887

94,768

93,103

82,556

Loss from operations

-63,017

-48,427

-60,344

-62,798

-44,171

-6,654

-23,547

-34,969

-56,711

-46,586

-45,175

-40,650

-48,722

-25,799

-51,033

-48,424

-66,820

-65,162

-62,750

-46,197

-45,091

-37,027

-30,617

Interest expense, net

-49,924

-46,686

-43,911

-42,309

-41,340

-37,219

-34,482

-31,872

-28,198

-26,509

-23,217

-21,971

-20,558

-34,805

-13,957

-13,063

-11,515

-9,198

-8,475

-8,433

-7,130

-7,433

-6,662

Loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-431

-

-

-

Other (income) expenses, net

50

0

-3,110

-1,388

-4,756

-2,913

4,517

-508

1,692

-1,285

94

-208

-475

380

-42

-30

532

-364

-87

-1,019

-299

657

1,386

Loss before income taxes

-112,891

-95,113

-107,365

-106,495

-90,267

-46,786

-53,512

-67,349

-83,217

-74,380

-68,298

-62,829

-69,755

-60,224

-65,032

-61,517

-77,803

-74,293

-71,312

-56,080

-52,520

-45,117

-38,665

Income tax benefit

-3,342

-8,116

5,169

-1,910

-3,361

2,729

-5,988

4,378

8,203

-18,345

14,517

10,781

5,400

-

9,936

3,210

-

-

903

-6,215

-

-

-5,917

Net loss

-109,549

-86,997

-112,534

-104,585

-86,906

-49,515

-47,524

-71,727

-91,420

-56,035

-82,815

-73,610

-75,155

-103,341

-74,968

-64,727

-77,803

-74,306

-72,215

-49,865

-52,520

-45,117

-32,748

Net loss attributable to noncontrolling interests and redeemable noncontrolling interests

-81,590

-99,497

-141,524

-103,292

-73,044

-43,627

-44,628

-79,136

-119,452

-125,289

-110,822

-91,956

-85,037

-115,815

-91,846

-97,370

-90,937

-59,283

-69,447

-57,405

-34,525

29,903

-15,517

Net loss attributable to common stockholders

-27,959

12,500

28,990

-1,293

-13,862

-5,888

-2,896

7,409

28,032

69,254

28,007

18,346

9,882

12,474

16,878

32,643

13,134

-15,023

-2,768

7,540

-17,995

-15,214

-17,231

Less: Deemed dividend to convertible preferred stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24,890

-

-

-

-

Less: Net income allocated to participating securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,540

-

-

-

Net income (loss) available to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-27,658

-

-

-15,214

-17,231

Net loss per share attributable to common stockholders
Basic (in dollars per share)

-0.23

0.11

0.25

-0.01

-0.12

-0.06

-0.03

0.07

0.26

0.67

0.26

0.17

0.09

0.12

0.16

0.32

0.13

-0.14

-0.41

0.33

-0.74

-

-

Diluted (in dollars per share)

-0.23

0.11

0.23

-0.01

-0.12

-0.06

-0.02

0.06

0.25

0.64

0.26

0.17

0.09

0.12

0.16

0.31

0.13

-0.14

-0.41

0.33

-0.74

-

-

Weighted average shares used to compute net loss per share attributable to common stockholders
Basic (in shares)

119,220

118,259

117,652

115,765

113,912

112,214

111,134

109,559

107,449

106,814

105,783

105,093

104,038

103,519

102,707

101,969

101,273

101,990

67,732

26,215

24,427

-

-

Diluted (in shares)

119,220

140,676

125,151

115,765

113,912

120,204

120,396

117,067

110,781

109,410

109,598

107,347

106,469

105,777

105,092

104,768

104,219

101,990

67,732

26,215

24,427

-

-

Net loss per share available to common shareholders basic and diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.64

-0.72

Weighted average shares used to compute net loss per share available to common stockholders basic and diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,943

23,827

Customer agreements and incentives
Customer agreements and incentives

99,124

99,297

96,249

92,439

99,850

131,299

114,572

91,605

66,990

65,358

61,717

58,111

49,090

68,542

43,150

45,394

34,540

29,588

31,650

34,458

22,308

21,612

22,987

Costs

78,277

72,898

67,359

70,594

69,493

65,317

63,195

57,769

54,576

51,234

47,299

45,289

42,613

36,766

40,770

38,608

38,100

34,617

28,723

27,067

21,377

19,112

17,359

Solar energy systems and product sales
Revenue

111,607

144,640

119,293

112,156

94,654

108,821

90,388

78,933

77,373

86,907

82,829

72,511

56,019

75,251

68,883

77,144

64,203

70,051

50,950

38,232

27,369

34,464

28,952

Costs

91,598

109,307

92,031

86,348

77,799

89,040

76,179

64,268

64,579

74,174

69,588

60,938

49,431

63,005

57,264

61,600

57,512

62,329

46,468

34,624

25,330

30,235

25,333