Vivint solar, inc. (VSLR)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Sep'13
Revenue:
Total revenue

91,151

77,064

103,849

90,757

69,371

63,457

77,816

80,798

68,250

66,780

75,139

72,995

53,114

41,771

41,262

34,904

17,230

16,028

22,474

16,135

9,545

6,860

8,333

6,558

3,507

2,274

Cost of revenue:
Total cost of revenue

74,871

73,790

68,437

58,865

57,454

63,372

59,835

60,356

64,732

63,054

56,899

56,594

53,735

-

-

-

-

-

-

-

-

-

-

-

-

-

Gross profit

16,280

3,274

35,412

31,892

11,917

85

17,981

20,442

3,518

3,726

18,240

16,401

-621

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating expenses:
Sales and marketing

39,608

38,402

46,121

37,037

29,634

17,951

15,841

14,033

11,125

10,659

9,808

9,411

8,818

9,358

8,617

10,813

12,648

10,897

12,051

18,697

6,433

5,640

5,220

5,790

5,219

2,105

Research and development

556

540

510

524

469

395

475

511

486

653

896

895

896

761

842

144

1,232

1,352

1,047

920

582

489

431

500

472

-

General and administrative

28,026

30,808

32,760

31,205

23,049

21,762

29,945

22,009

19,987

19,698

19,379

20,301

20,579

21,796

19,022

18,064

22,920

20,716

21,954

31,364

18,630

15,623

37,170

13,752

12,354

5,135

Amortization of intangible assets

-

-

-

-

-

-

-

-

-

-

139

139

140

139

342

155

265

1,977

3,711

3,721

3,763

3,756

3,727

3,691

3,737

3,649

Impairment of goodwill and intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

36,601

0

0

0

4,506

-

-

-

-

-

Total operating expenses

68,190

69,750

79,391

68,766

53,152

40,108

46,261

36,553

31,598

30,592

30,222

30,746

30,433

-94,118

74,559

71,430

111,848

-61,241

76,857

88,473

58,232

46,818

66,690

40,677

33,367

15,732

Loss from operations

-51,910

-66,476

-43,979

-36,874

-41,235

-40,023

-28,280

-16,111

-28,080

-26,866

-11,982

-14,345

-31,054

-38,092

-33,297

-36,526

-94,618

-55,706

-54,383

-72,338

-48,687

-39,958

-58,357

-34,119

-29,860

-13,458

Interest expense, net

21,632

20,920

22,804

19,472

19,127

18,335

18,715

11,336

16,922

16,557

16,148

16,838

14,721

11,469

9,361

7,413

5,765

4,360

3,351

2,730

2,127

1,988

3,261

2,673

1,401

963

Other expense, net

-28,358

5,223

-3,907

-1,365

-1,385

-1,833

1

4,109

2,261

834

-195

-715

-276

1,342

434

-309

-30

-193

-26

60

313

-2,834

297

277

888

-541

Loss before income taxes

-101,900

-82,173

-70,690

-57,711

-61,747

-60,191

-46,994

-23,338

-42,741

-42,589

-28,325

-31,898

-46,051

-48,219

-42,224

-44,248

-100,413

-59,513

-57,760

-75,128

-51,127

-41,856

-61,915

-37,069

-32,149

-14,962

Income tax expense

23,414

43,152

50,410

29,950

27,487

26,606

25,698

35,352

18,643

-181,265

9,375

5,156

9,401

-2,812

-2,959

8,055

5,149

-6,240

-7,448

14,577

8,848

-3,784

-10,222

2,542

4,394

31

Net loss

-125,314

-125,325

-121,100

-87,661

-89,234

-86,797

-72,692

-58,690

-61,384

138,676

-37,700

-37,054

-55,452

-45,407

-39,265

-52,303

-105,562

-53,273

-50,312

-89,705

-59,975

-38,072

-51,693

-39,611

-36,543

-14,993

Net loss attributable to non-controlling interests and redeemable non-controlling interests

-85,054

-91,794

-107,265

-59,094

-62,992

-73,933

-64,824

-76,806

-48,408

-45,245

-44,605

-42,034

-68,744

-65,545

-55,961

-64,674

-74,343

-40,083

-50,780

-103,358

-72,124

-31,933

-16,415

-45,104

-43,584

-37,848

Net loss attributable to common stockholders

-40,260

-33,531

-13,835

-28,567

-26,242

-12,864

-7,868

18,116

-12,976

183,921

6,905

4,980

13,292

20,138

16,696

12,371

-31,219

-13,190

468

13,653

12,149

-6,139

-35,278

5,493

7,041

22,855

Net loss attributable per share to common stockholders:
Basic and diluted

-0.32

-

-0.11

-

-0.22

-

-0.07

-

-0.11

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic

-

-

-

-0.24

-

-

-

0.16

-

1.63

0.06

0.04

0.12

0.19

0.15

0.12

-0.29

-0.13

0.00

0.13

0.12

-0.06

-0.45

0.07

0.09

0.30

Diluted

-

-

-

-0.24

-

-

-

0.15

-

1.56

0.06

0.04

0.11

0.19

0.15

0.11

-0.29

-0.11

0.00

0.12

0.11

-0.06

-0.45

0.07

0.09

0.30

Weighted-average shares used in computing net loss attributable per share to common stockholders:
Basic and diluted

123,922

-

121,730

-

120,307

-

118,767

-

115,155

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic

-

-

-

120,869

-

-

-

116,650

-

114,907

114,505

112,351

110,765

110,223

108,692

107,226

106,619

106,569

106,492

105,988

105,303

105,356

78,428

75,000

75,000

75,000

Diluted

-

-

-

120,869

-

-

-

121,753

-

119,639

119,465

117,570

116,398

118,809

113,344

111,380

106,619

110,364

110,223

109,794

109,051

103,025

78,428

76,267

76,064

75,000

Customer Agreements and Incentives
Total revenue

51,276

43,554

70,819

63,355

39,603

34,717

53,470

54,765

31,114

31,151

45,909

43,413

30,389

25,320

33,394

30,061

16,578

15,488

21,781

15,301

8,580

5,890

7,131

5,804

2,863

2,123

Total cost of revenue

52,823

54,067

48,993

43,074

40,191

42,732

42,135

41,366

38,687

37,741

34,731

33,763

35,070

35,230

39,268

38,538

37,760

36,414

37,624

33,295

23,880

20,823

19,515

16,459

11,187

4,811

Solar Energy System and Product Sales
Total revenue

39,875

33,510

33,030

27,402

29,768

28,740

24,346

26,033

37,136

35,629

29,230

29,582

22,725

16,451

7,868

4,843

652

540

693

834

965

970

1,202

754

644

151

Total cost of revenue

22,048

19,723

19,444

15,791

17,263

20,640

17,700

18,990

26,045

25,313

22,168

22,831

18,665

12,579

6,468

3,716

422

378

470

476

438

487

627

485

398

32