2023-07-26 16:34:04 ET
Sunnova Energy ( NYSE: NOVA ) -7.3% post-market Wednesday after reporting a wider Q2 loss than a year earlier and revenues that rose 13% Y/Y to $166M but missed analyst expectations.
Sunnova ( NOVA ) said its Q2 net loss rose to $100.8M from a net loss of $13.8M for the same quarter last year, primarily the result of an increase in interest expense as well as higher general and administrative expense.
Q2 adjusted EBITDA fell to $28.1M compared to $39.7M for the year-earlier quarter, mostly due to a lower gross margin contribution from inventory sales to dealers and an increase in spending.
Sunnova ( NOVA ) raised its full-year guidance for customer additions to 135K-145K from its previous outlook for 125K-135K and reaffirmed adjusted EBITDA guidance of $235M-$255M.
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Sunnova Energy sinks as after Q2 loss, below-consensus revenues