Financial Performance - Cash Generation was 34millioninQ42024,markingthethirdconsecutivequarterofpositiveCashGeneration[2]−TotalrevenueforQ42024was518.5 million, a slight increase of 1.9millionfromQ42023[16]−TotalrevenueforQ42024was518.5 million, a slight increase from 516.6millioninQ42023,whiletotalrevenuefortheyearendedDecember31,2024,was2.04 billion, down from 2.26billionin2023[34]−NetlossforQ42024was3.40 billion, compared to a net loss of 535.4millioninQ42023,withanetlossattributabletocommonstockholdersof2.81 billion for the quarter[34] - The company reported a significant increase in operating expenses, totaling 3.77billionforQ42024,comparedto714.1 million in Q4 2023, largely due to a goodwill impairment of 3.12billion[34]−Thecompanyreportedanetlossof3,399,951 for the three months ended December 31, 2024, compared to a net loss of 535,406forthesameperiodin2023[36]AssetsandLiabilities−NetEarningAssetsincreasedto6.8 billion, including 947millioninTotalCashasofDecember31,2024[2]−Cashandcashequivalentsdecreasedto575.0 million as of December 31, 2024, down from 678.8millionattheendof2023[32]−Totalassetsdecreasedto19.90 billion as of December 31, 2024, from 20.45billionin2023[32]−Thecompany’stotalliabilitiesincreasedto15.73 billion in 2024, compared to 13.54billionin2023[32]CustomerGrowthandRevenue−CustomerAdditionstotaled32,932inQ42024,witha121.6 billion as of December 31, 2024[8] - Customer agreements and incentives revenue increased to 388.6millioninQ42024,upfrom321.6 million in Q4 2023[34] - Subscriber Value increased by 11% to 55,811inQ42024comparedtoQ42023[8]−Theannualrecurringrevenuewasreportedat1,644 million as of December 31, 2024[43] Capacity and Growth Metrics - Storage Capacity Installed reached 392 Megawatt hours in Q4 2024, representing a 78% year-over-year growth[10] - Solar Energy Capacity Installed was 242 Megawatts in Q4 2024, a 7% increase compared to Q4 2023[11] - Solar energy capacity installed reached 242.4 megawatts for the three months ended December 31, 2024[43] Future Outlook and Strategy - The company expects Cash Generation to be between 200millionand500 million for the full year 2025[13] - The company aims to focus on margin improvement and multi-product offerings to enhance customer value and market penetration[28] - Future expectations include growth in home electrification and distributed energy resources, alongside anticipated demand for new products and technologies[28] - The company is actively managing its supply chain and workforce to mitigate risks associated with market conditions and regulatory changes[28] Impairments and Non-Cash Charges - A non-cash goodwill impairment charge of approximately 3.1billionwasrecordedinQ42024,impactingnetlossfigures[21]−Thecompanyincurredagoodwillimpairmentof3,122,168 for the year ended December 31, 2024[36] Cash Flow and Financing - Total cash used in operating activities was 258,359forthethreemonthsendedDecember31,2024,comparedto116,007 for the same period in 2023[36] - Net cash provided by financing activities was 987,570forthethreemonthsendedDecember31,2024[36]ValueMetrics−Thecompanyachievedatotalvaluegeneratedof588.9 million during the three months ended December 31, 2024[43] - Gross earning assets amounted to $17,834 million as of December 31, 2024[43] - Gross Earning Assets include both the contracted and renewal periods, representing the present value of future cash flows from Subscribers[53][54] - Total Value Generated is the product of Net Subscriber Value and Subscriber Additions[50] Environmental Impact - Positive Environmental Impact from Customers is estimated at millions of metric tons of avoided carbon emissions due to energy produced from Networked Solar Energy Capacity[60]
Sunrun(RUN)2025-02-27 21:10