Solar on the roof. Author: Marufish. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.
US residential solar company Sunrun Inc (NASDAQ:RUN) on Thursday reported 70% organic growth in megawatts booked and a 76% increase in megawatts deployed for the second quarter of 2015.
Sunrun, which raised some USD 220 million (EUR 194.9m) from its initial public offering (IPO) in August, said it has booked 61.2 MW and installed 42.4 MW in the April-June quarter. Cumulative MW deployed reached 472.5 MW.
The company posted a net loss of USD 49.9 million for Q2, widening from USD 32.7 million a year back. It turned to a net profit attributable to common stockholders of USD 7.5 million from a loss of USD 17.2 million a year earlier.
Even though Sunrun’s total revenue jumped by 40% year-on-year to USD 72.7 million, its operating loss widened to USD 46.2 million from USD 30.6 million as operating expenses grew by 44%.
Sunrun expects to deploy between 54 MW and 55 MW in the third quarter for an 81% organic growth year-on-year. It sees its total installations for the year at 205 MW.