/
We are an industry-leading energy services company focused on making clean energy more accessible, reliable and affordable for homeowners and businesses, serving over 441,000 customers in more than 50 United States ("U.S.") states and territories. Through our adaptive energy platform, we provide a better energy service, and generally at a better price, to deliver our mission of powering energy …
The business is unprofitable at the operating level (-29.34% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 19.1% YoY with margins expanding 6.2pp.
Negative free cash flow of -$1.95B. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$816M
▲ +19.1% YoY
Net Income (TTM)
-$368M
▲ +12.0% YoY
Op. Margin
-29.34%
▲ +6.2pp YoY
ROIC
-1.95%
▲ +0.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$1.95B
▲ +5.6% YoY
Op. Cash Flow (TTM)
-$311M
▼ -30.8% YoY
Net Debt
$8.27B
Cash & Equiv.
$211M
5Y CAGR: +44.2%
Continue Research