SUNW - Sunworks expects Q2 revenue between $33M - $35M

2023-08-02 14:02:30 ET

• Sunworks ( NASDAQ: SUNW ) said Wednesday it expects total revenue in the range of $33 and $35 million for the second quarter of 2023.
• Q2 total adjusted EBITDA is expected to be between negative $10 million and negative $11.5 million.
• The residential direct sales channel represented approximately 45% of new originations in Q2.
• The total backlog at the end of Q2 is expected to be about $84 million.
• The company said it has approximately $4.8 million in cash and restricted cash as of June 30, 2023.
• Press Release .
• Shares -9.3% at $1.55.

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