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Sunnova Energy International books higher Q2 adjusted EBITDA, revenue

Sunnova Energy International Inc. on Aug. 19 reported second quarter 2019 adjusted EBITDA of $13.6 million, an increase from $13.2 million in the prior-year period.

Net loss widened to $49.8 million from $9.2 million in the comparable 2018 quarter. Revenue increased year over year to $34.6 million from $29.0 million.

As of June 30, Sunnova had total cash of $99.5 million, including restricted and unrestricted cash. The company's customers increased to 67,600 as of June 30, from 13,900 on the same date in 2018.

"We are proud to report strong financial results in our first earnings release as a public company," President and CEO John Berger said. "Looking forward, our business continues to build momentum driven by the competitive benefits of our growing dealer network."

Sunnova provided full year 2019 adjusted EBITDA guidance of between $47 million and $49 million.