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Sunworks (SUNW)
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Sunworks Income Statement 2022-2001 | SUNW
Brief overview of financial performance at Sunworks
The conclusions below are based on five years of reported results. The revenue attributed to Sunworks moved from 77.4 million dollars to 162 million dollars between the two endpoints. The total change was +109.1%, with a CAGR of approximately 15.9%. The company expanded its sales base at a healthy rate.
The five-year change in gross profit reached +421.9%: from $13.7 million to $71.3 million. The cost base moved more slowly than the top line, which supported margins. At the margin level, the figure shifted from 17.6% to 44%. A wider margin shows that the economics of the core business improved.
The five-year EBITDA result moved by −296.1%: from −5.9 million dollars to −23.4 million dollars. EBITDA underperformed the top-line trend. EBITDA margin was −7.6% at the start and −14.4% at the end. Operating return per unit of revenue declined.
Net income moved from −$7.2 million at the start to −$28.2 million at the end. The negative result deepened, showing weaker final efficiency.
Overall conclusion
The indicators point to a weaker financial profile. The financial profile benefits from revenue expansion and better sales economics. The main areas of concern are a low EBITDA margin, a declining EBITDA margin and declining net profitability. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement Sunworks
| 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
59.4 M | 63.1 M | 206 M | 2.92 M | 12.5 M | 162 M | 279 M | 290 M | 572 M | 106 M | 700 M | 797 M | - | - | - | - | - | - | - | - | - | - |
Shares |
32.8 M | 26.9 M | 15.6 M | 4.45 M | 3.56 M | 22.2 M | 20.2 M | 17 M | 11.6 M | 6.48 M | 128 M | 110 M | 101 M | - | - | - | - | - | - | - | - | - |
Historical Prices |
1.81 | 2.34 | 13.2 | 0.656 | 3.51 | 7.28 | 13.8 | 17.1 | 49.4 | 16.4 | 5.46 | 7.28 | - | - | - | - | - | - | - | - | - | - |
Net Income |
-28.2 M | -26.6 M | -15.9 M | -9.19 M | -5.74 M | -7.22 M | -9.38 M | 1.06 M | -24.9 M | -3.81 M | -2.04 M | -1.55 M | -617 K | -1.05 M | -2.35 M | -1.03 M | -612 K | -1.07 M | -573 K | -394 K | -853 K | - |
Revenue |
162 M | 101 M | 37.9 M | 59.8 M | 71 M | 77.4 M | 86.4 M | 53.7 M | 20.2 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
90.6 M | 60.4 M | 29.9 M | 53.2 M | 58.7 M | 63.8 M | 64.3 M | 36.7 M | 14.6 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
71.3 M | 40.8 M | 8.01 M | 6.66 M | 12.3 M | 13.7 M | 22.1 M | 17 M | 5.61 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
-28.2 M | -29.2 M | -15.2 M | -8.34 M | -5.16 M | -6.31 M | -8.02 M | 2.37 M | 312 K | -1.08 M | -1.48 M | -1.5 M | -608 K | - | - | - | - | - | - | - | - | - |
Interest Expense |
16 K | 2.89 M | 10 K | 36 K | 36 K | 66 K | -329 K | 1.39 M | 4.19 M | 726 K | 109 K | 2.12 K | 8.47 K | - | - | - | - | - | - | - | - | - |
EBITDA |
-23.4 M | -23.3 M | -14.9 M | -7.98 M | -4.77 M | -5.9 M | -7.7 M | 2.42 M | 322 K | -1.08 M | -1.48 M | -1.5 M | -608 K | - | - | - | - | - | - | - | - | - |
Operating Expenses |
99.5 M | 70 M | 23.2 M | 15 M | 17.4 M | 20 M | 30.1 M | 14.7 M | 5.3 M | 1.08 M | 1.48 M | 1.5 M | 608 K | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
34.1 M | 24.8 M | 13.1 M | 11.2 M | 10 M | 11.9 M | 11.4 M | 5.09 M | 3.6 M | 971 K | 1.32 M | 1.36 M | 572 K | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Quarterly Income Statement Sunworks
| 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
43.6 M | 37.5 M | 35.4 M | 35.4 M | 33.6 B | 32.9 M | 29.5 M | 29.2 M | 27 M | 27 M | 25.2 M | 23.8 M | 16.6 M | 16.6 M | 11.2 M | 6.81 M | 4.51 M | 26.8 M | 26.1 M | 3.73 M | 25.7 M | 24.8 M | 23.2 M | 23.2 M | 22.5 M | 22.4 M | 21.3 M | 20.9 M | 20.9 M | 20.4 M | 18.8 M | 18.3 M | 17.8 M | 17.7 M | 14.5 M | 14 M | 314 M | 292 M | 246 M | 8.2 M | 176 M | 154 M | 142 M | 141 M | 130 M | 123 M | 120 M | 118 M | 114 M | 111 M | 102 M |
Net Income |
-36.4 M | -12.7 M | -6.39 M | - | -5.39 M | -7.58 M | -8.21 M | - | -6.46 M | -1.87 M | -4.81 M | - | -2.85 M | -1.46 M | -6.75 M | - | -1.18 M | -77 K | -4.54 M | - | -376 K | -1.79 M | -1.73 M | - | -1.96 M | 1.07 M | -2.9 M | - | -6.08 M | 744 K | -378 K | - | 1.4 M | -122 K | -1.4 M | - | -13.8 M | 224 K | -4.04 M | - | -1.5 M | -612 K | -98.2 K | - | -376 K | -386 K | -451 K | - | -398 K | -375 K | -337 K |
Revenue |
28.7 M | 34.6 M | 37.9 M | - | 40.7 M | 36.4 M | 31.2 M | - | 31.2 M | 32.1 M | 6.17 M | - | 7.3 M | 9.67 M | 12.4 M | - | 17.5 M | 18.7 M | 9.27 M | - | 18.3 M | 20 M | 13.4 M | - | 18.8 M | 25 M | 14.4 M | - | 17.6 M | 31.5 M | 19.6 M | - | 19.7 M | 11 M | 5.66 M | - | 6.44 M | 7.47 M | 1.05 M | - | - | - | - | - | 1.13 M | 1.13 M | 1.13 M | - | 1.13 M | 1.13 M | - |
Cost of Revenue |
100 K | 100 K | 100 K | - | 21.2 M | 19.5 M | 17.2 M | - | 16.8 M | 17 M | 6.08 M | - | 6.05 M | 8.01 M | 11.4 M | - | 14.5 M | 15 M | 9.91 M | - | 14.9 M | 17.1 M | 11 M | - | 15.7 M | 18.3 M | 11.6 M | - | 12.8 M | 22.2 M | 13.7 M | - | 14.4 M | 7.55 M | 3.72 M | - | 4.7 M | 5.44 M | 772 K | - | - | - | - | - | 496 K | 496 K | 496 K | - | 496 K | 496 K | - |
Gross Profit |
8.17 M | 11.4 M | 11.9 M | - | 19.5 M | 16.9 M | 14 M | - | 14.4 M | 15.1 M | 91 K | - | 1.25 M | 1.66 M | 956 K | - | 3 M | 3.63 M | -644 K | - | 3.36 M | 2.9 M | 2.41 M | - | 3.09 M | 6.73 M | 2.78 M | - | 4.74 M | 9.24 M | 5.85 M | - | 5.33 M | 3.45 M | 1.94 M | - | 1.74 M | 2.03 M | 275 K | - | - | - | - | - | 631 K | 631 K | 631 K | - | 631 K | 631 K | - |
Operating Income |
-36.2 M | -11.4 M | -10.1 M | - | -5.4 M | -7.66 M | -8.2 M | - | -6.46 M | -4.78 M | -4.81 M | - | -2.69 M | -1.33 M | -6.48 M | - | -953 K | 142 K | -4.32 M | - | -172 K | -1.64 M | -1.7 M | - | -1.7 M | 1.32 M | -2.62 M | - | -5.66 M | 1.1 M | 152 K | - | 1.7 M | 134 K | -1.01 M | - | 29.5 K | 762 K | -896 K | - | -219 K | -310 K | -315 K | - | -355 K | -330 K | -372 K | - | -398 K | -329 K | -335 K |
Interest Expense |
54 K | -1.02 M | 5.06 M | - | -6 K | 51 K | 2 K | - | 5 K | 2.89 M | 4 K | - | 1 K | 10 K | -10 K | - | 4 K | 7 K | 7 K | - | -13 K | -8 K | -5 K | - | -260 K | -248 K | -287 K | - | -423 K | -358 K | -530 K | - | 301 K | 266 K | 457 K | - | 786 K | 829 K | 1.3 M | - | 200 K | 165 K | 115 K | - | 23.4 K | 22.2 K | 78.7 K | - | 29 | 2.09 K | 2.09 K |
EBITDA |
-35.2 M | -10.3 M | -9.12 M | - | -4.17 M | -6.35 M | -6.92 M | - | -4.52 M | -2.88 M | -4.74 M | - | -2.61 M | -1.25 M | -6.4 M | - | -866 K | 233 K | -4.23 M | - | -76 K | -1.54 M | -1.61 M | - | -1.39 M | 1.52 M | -2.52 M | - | -5.56 M | 1.15 M | 198 K | - | 1.71 M | 145 K | -1.01 M | - | 31.8 K | 764 K | -894 K | - | -219 K | -309 K | -315 K | - | -355 K | -329 K | -372 K | - | -397 K | -329 K | -335 K |
Operating Expenses |
44.3 M | 22.8 M | 22 M | - | 24.9 M | 24.5 M | 22.2 M | - | 20.9 M | 19.9 M | 4.9 M | - | 3.95 M | 2.99 M | 7.44 M | - | 3.95 M | 3.49 M | 3.67 M | - | 3.54 M | 4.54 M | 4.11 M | - | 4.79 M | 5.42 M | 5.4 M | - | 10.4 M | 8.14 M | 5.7 M | - | 3.63 M | 3.32 M | 2.95 M | - | 1.71 M | 1.27 M | 1.17 M | - | 219 K | 310 K | 315 K | - | 355 K | 330 K | 372 K | - | 398 K | 329 K | 335 K |
General and Administrative Expenses |
9.44 M | 9.77 M | 8.75 M | - | 8.72 M | 8.52 M | 7.44 M | - | 7.66 M | 6.74 M | 3.45 M | - | 3.16 M | 2.36 M | 2.6 M | - | 3.01 M | 2.68 M | 2.68 M | - | 2.4 M | 2.6 M | 2.66 M | - | 2.64 M | 3.2 M | 3.33 M | - | 4.25 M | 4.59 M | 4.49 M | - | 2.05 M | 2.04 M | 1.81 M | - | 1.27 M | 804 K | 955 K | - | 194 K | 276 K | 291 K | - | 327 K | 284 K | 318 K | - | 348 K | 302 K | 313 K |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Sunworks (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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