Vivint Solar stock falls after the company posted a wider net loss in Q4

The results showed a wider-than-expected Q4 adjusted loss and sales missed expectations.

Vivint Solar, a U.S residential solar company, saw its attributable net loss balloon to 33.5 million in Q4 of 2019, despite a 21% year-on-year revenue growth.

The company’s shares fell more than 11% in the extended session Tuesday after the Q4 results were made public.

Vivint Solar installed approximately 66 MW for the quarter, up 22% from the corresponding period of 2018. The cost per watt was $3.54.

The Vivint Solar earnings report also included its outlook for the fiscal first quarter of 2020.

For the first quarter of 2020, Vivint expects to install 57 MW to 60 MW, with a cost-per-watt target of $3.68 to $3.75. For the full year, the company expects a 15% to 20% growth in installed MW.

Figures in USD million, except per share data Q4 2019 Q4 2018 2019 2018
Total revenue 77.1 63.5 341 290.3
— from customer agreements and incentives 43.6 34.7 217.3 174.1
— from solar energy system and product sales 33.5 28.7 123.7 116.3
Operating profit (loss) (66.5) (40) (188.6) (112.5)
Net profit (loss) attr. to common shareholders (33.5) (12.9) (102.2) (15.6)
Non-GAAP net loss per share (1.02) (0.73) (3.49) (2.38)

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