ISUN - SunCommon acquisition delivers on iSun's growth strategy

iSun (NASDAQ:ISUN) reported prelim Q3 operating results of its recently acquired residential and commercial subsidiary, SunCommon. Acquisition brings total commercial and industrial backlog to $90.3M, including $6.2M and $3.4M of new business in Vermont and New York, respectively. Residential backlog of $22.1M includes $14.9M and $7.2M of new business in Vermont and New York, respectively. Residential and small commercial sales cycle normalizes iSun's revenue stream across calendar year. Residential, commercial and industrial backlog increases to $112.4 million as the acquisition of SunCommon adds $31.7M to iSun’s existing $80.7M as of Sept. 30 ,2021. "SunCommon's values-led business and marketing capabilities when coupled with the composition of their business, will not only enhance iSun's operating margins, but also provide a platform we can use to accelerate residential and commercial solar adoption in new markets," CEO Jeff Peck commented.

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SunCommon acquisition delivers on iSun's growth strategy