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Vivint Solar widens Q2'19 non-GAAP net loss YOY

Vivint Solar Inc. on Aug. 8 reported a 2019 second-quarter non-GAAP net loss of $87.7 million, or negative 73 cents per share, compared to a net loss of $58.7 million, or negative 50 cents per share, in the second quarter of 2018.

Revenue for the quarter totaled $90.8 million, up from $80.8 million a year ago. Loss from operations widened to $36.9 million, from $16.1 million, in the prior-year quarter.

Vivint installed approximately 56 MW of solar power during the second quarter of 2019, compared to 47 MW in the same period of last year. Cost per watt for the quarter increased to $3.56, from $3.23 in the second quarter of 2018.

On a GAAP basis, the company reported a net loss available to common stockholders of $28.6 million, or a loss of 24 cents per diluted share, compared to net income of $18.1 million, or 15 cents per diluted share, in the same quarter of 2018.

During the third quarter of 2019, the company expects to install within the range of 62 MW to 65 MW, with a cost per watt between $3.36 and $3.44.