Vivint Solar, Inc. (VSLR) Financial Statements (2024 and earlier)

Company Profile

Business Address 1800 WEST ASHTON BLVD.
LEHI, UT 84043
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 3433 - Heating Equipment, Except Electric and Warm Air Furnaces (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments131,077166,048260,753198,951213,474219,591
Cash and cash equivalents131,077166,048260,753198,951213,474219,591
Receivables25,95224,31427,20328,18619,99214,207
Inventory, net of allowances, customer advances and progress billings14,38320,57613,72713,07111,53213,257
Inventory14,38320,57613,72713,07111,53213,257
Prepaid expense6,1746,5417,7008,1007,9008,300
Other undisclosed current assets27,66434,59624,19522,68321,39422,901
Total current assets:205,250252,075333,578270,991274,292278,256
Noncurrent Assets
Property, plant and equipment20,88817,50014,33212,65010,18010,730
Intangible assets, net (including goodwill)2,7682,7021,458524457539
Intangible assets, net (excluding goodwill)2,7682,7021,458524457539
Regulated entity, other noncurrent assets24,49125,15425,53226,28324,02024,657
Restricted cash and investments94,61189,89283,74378,56775,01071,305
Other noncurrent assets683,012680,062567,872510,537478,01328,090
Other undisclosed noncurrent assets1,827,6451,732,0051,669,1391,611,0981,566,4111,913,678
Total noncurrent assets:2,653,4152,547,3152,362,0762,239,6592,154,0912,048,999
TOTAL ASSETS:2,858,6652,799,3902,695,6542,510,6502,428,3832,327,255
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities153,657171,695159,003118,277109,716114,309
Employee-related liabilities28,89234,14940,64724,54521,12125,520
Accounts payable52,35559,00748,11840,17538,93745,929
Accrued liabilities72,41078,53970,23853,55749,65842,860
Deferred revenue24,63140,71528,684  
Debt26,89318,679146,061144,243147,95214,076
Due to related parties8002,200 500100200
Other undisclosed current liabilities6,6748,05317,32840,72133,50637,845
Total current liabilities:212,655241,342351,076303,741291,274166,430
Noncurrent Liabilities
Long-term debt and lease obligation1,605,4281,529,4201,327,0601,181,7971,123,8881,203,787
Long-term debt, excluding current maturities1,548,2281,483,2561,282,8681,181,7971,123,8881,203,282
Capital lease obligations505
Finance lease, liability6,6696,4434,308  
Liabilities, other than long-term debt157,62892,05498,190567,490529,525461,730
Deferred revenue20,38317,63116,450  
Deferred tax liabilities, net490,496463,156437,120
Deferred income tax liabilities     
Other liabilities137,24574,42381,74076,99466,36924,610
Operating lease, liability 50,53139,72139,884  
Other undisclosed noncurrent liabilities 553,942543,974499,30618,33615,62013,524
Total noncurrent liabilities:2,316,9982,165,4481,924,5561,767,6231,669,0331,679,041
Total liabilities:2,529,6532,406,7902,275,6322,071,3641,960,3071,845,471
Temporary equity, carrying amount116,481115,384118,251118,900118,667119,572
Equity
Equity, attributable to parent135,669190,473214,920229,971261,269288,595
Common stock1,2471,2311,2211,2161,2061,201
Additional paid in capital596,589591,639586,517582,338577,961574,248
Accumulated other comprehensive loss(39,621)(20,436)(24,388)(18,988)(11,870)(7,223)
Accumulated deficit(422,546)(381,961)(348,430)(334,595)(306,028)(279,631)
Equity, attributable to noncontrolling interest76,86286,74386,85190,41588,14073,617
Total equity:212,531277,216301,771320,386349,409362,212
TOTAL LIABILITIES AND EQUITY:2,858,6652,799,3902,695,6542,510,6502,428,3832,327,255

Income Statement (P&L) ($ in thousands)

6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
Revenues91,15177,064103,84990,75769,37163,457
Operating leases, income statement, lease revenue34,717
Cost of revenue(74,871)(73,790)(68,437)(58,865)(57,454)(63,372)
Cost of goods and services sold      (20,640)
Gross profit:16,2803,27435,41231,89211,91785
Operating expenses(68,190)(69,750)(79,391)(68,766)(53,152)(40,108)
Operating loss:(51,910)(66,476)(43,979)(36,874)(41,235)(40,023)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(28,358)5,223(3,907)(1,365)(1,385)(1,833)
Interest and debt expense(21,632)(20,920)(22,804)(19,472)(19,127)(18,335)
Loss from continuing operations before income taxes:(101,900)(82,173)(70,690)(57,711)(61,747)(60,191)
Income tax expense(23,414)(43,152)(50,410)(29,950)(27,487)(26,606)
Loss from continuing operations:(125,314)(125,325)(121,100)(87,661)(89,234)(86,797)
Loss before gain (loss) on sale of properties:(125,314)(125,325)(121,100)(87,661)(89,234)(86,797)
Net loss:(125,314)(125,325)(121,100)(87,661)(89,234)(86,797)
Net income attributable to noncontrolling interest85,05491,794107,26559,09462,99273,933
Net loss available to common stockholders, diluted:(40,260)(33,531)(13,835)(28,567)(26,242)(12,864)

Comprehensive Income ($ in thousands)

6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
Net loss:(125,314)(125,325)(121,100)(87,661)(89,234)(86,797)
Comprehensive loss:(125,314)(125,325)(121,100)(87,661)(89,234)(86,797)
Comprehensive income, net of tax, attributable to noncontrolling interest85,05491,794107,26559,09462,99273,933
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(19,185)3,952(5,400)(7,118)(4,647)(7,318)
Comprehensive loss, net of tax, attributable to parent:(59,445)(29,579)(19,235)(35,685)(30,889)(20,182)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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