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)Annual | Quarterly
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 investments | 131,077 | 166,048 | 260,753 | 198,951 | 213,474 | 219,591 | |||
Cash and cash equivalents | 131,077 | 166,048 | 260,753 | 198,951 | 213,474 | 219,591 | |||
Receivables | 25,952 | 24,314 | 27,203 | 28,186 | 19,992 | 14,207 | |||
Inventory, net of allowances, customer advances and progress billings | 14,383 | 20,576 | 13,727 | 13,071 | 11,532 | 13,257 | |||
Inventory | 14,383 | 20,576 | 13,727 | 13,071 | 11,532 | 13,257 | |||
Prepaid expense | 6,174 | 6,541 | 7,700 | 8,100 | 7,900 | 8,300 | |||
Other undisclosed current assets | 27,664 | 34,596 | 24,195 | 22,683 | 21,394 | 22,901 | |||
Total current assets: | 205,250 | 252,075 | 333,578 | 270,991 | 274,292 | 278,256 | |||
Noncurrent Assets | |||||||||
Property, plant and equipment | 20,888 | 17,500 | 14,332 | 12,650 | 10,180 | 10,730 | |||
Intangible assets, net (including goodwill) | 2,768 | 2,702 | 1,458 | 524 | 457 | 539 | |||
Intangible assets, net (excluding goodwill) | 2,768 | 2,702 | 1,458 | 524 | 457 | 539 | |||
Regulated entity, other noncurrent assets | 24,491 | 25,154 | 25,532 | 26,283 | 24,020 | 24,657 | |||
Restricted cash and investments | 94,611 | 89,892 | 83,743 | 78,567 | 75,010 | 71,305 | |||
Other noncurrent assets | 683,012 | 680,062 | 567,872 | 510,537 | 478,013 | 28,090 | |||
Other undisclosed noncurrent assets | 1,827,645 | 1,732,005 | 1,669,139 | 1,611,098 | 1,566,411 | 1,913,678 | |||
Total noncurrent assets: | 2,653,415 | 2,547,315 | 2,362,076 | 2,239,659 | 2,154,091 | 2,048,999 | |||
TOTAL ASSETS: | 2,858,665 | 2,799,390 | 2,695,654 | 2,510,650 | 2,428,383 | 2,327,255 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 153,657 | 171,695 | 159,003 | 118,277 | 109,716 | 114,309 | |||
Employee-related liabilities | 28,892 | 34,149 | 40,647 | 24,545 | 21,121 | 25,520 | |||
Accounts payable | 52,355 | 59,007 | 48,118 | 40,175 | 38,937 | 45,929 | |||
Accrued liabilities | 72,410 | 78,539 | 70,238 | 53,557 | 49,658 | 42,860 | |||
Deferred revenue | 24,631 | 40,715 | 28,684 | ✕ | |||||
Debt | 26,893 | 18,679 | 146,061 | 144,243 | 147,952 | 14,076 | |||
Due to related parties | 800 | 2,200 | 500 | 100 | 200 | ||||
Other undisclosed current liabilities | 6,674 | 8,053 | 17,328 | 40,721 | 33,506 | 37,845 | |||
Total current liabilities: | 212,655 | 241,342 | 351,076 | 303,741 | 291,274 | 166,430 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 1,605,428 | 1,529,420 | 1,327,060 | 1,181,797 | 1,123,888 | 1,203,787 | |||
Long-term debt, excluding current maturities | 1,548,228 | 1,483,256 | 1,282,868 | 1,181,797 | 1,123,888 | 1,203,282 | |||
Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 505 | ||
Finance lease, liability | 6,669 | 6,443 | 4,308 | ✕ | |||||
Liabilities, other than long-term debt | 157,628 | 92,054 | 98,190 | 567,490 | 529,525 | 461,730 | |||
Deferred revenue | 20,383 | 17,631 | 16,450 | ✕ | |||||
Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | 490,496 | 463,156 | 437,120 | ||
Deferred income tax liabilities | ✕ | ||||||||
Other liabilities | 137,245 | 74,423 | 81,740 | 76,994 | 66,369 | 24,610 | |||
Operating lease, liability | 50,531 | 39,721 | 39,884 | ✕ | |||||
Other undisclosed noncurrent liabilities | 553,942 | 543,974 | 499,306 | 18,336 | 15,620 | 13,524 | |||
Total noncurrent liabilities: | 2,316,998 | 2,165,448 | 1,924,556 | 1,767,623 | 1,669,033 | 1,679,041 | |||
Total liabilities: | 2,529,653 | 2,406,790 | 2,275,632 | 2,071,364 | 1,960,307 | 1,845,471 | |||
Temporary equity, carrying amount | 116,481 | 115,384 | 118,251 | 118,900 | 118,667 | 119,572 | |||
Equity | |||||||||
Equity, attributable to parent | 135,669 | 190,473 | 214,920 | 229,971 | 261,269 | 288,595 | |||
Common stock | 1,247 | 1,231 | 1,221 | 1,216 | 1,206 | 1,201 | |||
Additional paid in capital | 596,589 | 591,639 | 586,517 | 582,338 | 577,961 | 574,248 | |||
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 interest | 76,862 | 86,743 | 86,851 | 90,415 | 88,140 | 73,617 | |||
Total equity: | 212,531 | 277,216 | 301,771 | 320,386 | 349,409 | 362,212 | |||
TOTAL LIABILITIES AND EQUITY: | 2,858,665 | 2,799,390 | 2,695,654 | 2,510,650 | 2,428,383 | 2,327,255 |
Income Statement (P&L) ($ in thousands)Annual | Quarterly
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 | ||
---|---|---|---|---|---|---|---|---|
Revenues | 91,151 | 77,064 | 103,849 | 90,757 | 69,371 | 63,457 | ||
Operating leases, income statement, lease revenue | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 34,717 | |
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: | 16,280 | 3,274 | 35,412 | 31,892 | 11,917 | 85 | ||
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 interest | 85,054 | 91,794 | 107,265 | 59,094 | 62,992 | 73,933 | ||
Net loss available to common stockholders, diluted: | (40,260) | (33,531) | (13,835) | (28,567) | (26,242) | (12,864) |
Comprehensive Income ($ in thousands)Annual | Quarterly
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 interest | 85,054 | 91,794 | 107,265 | 59,094 | 62,992 | 73,933 | ||
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.