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$RUN misses Q120 MW deployed, withdraws annual guidance, announces a ~30% reduction in OpEx, & guides to a BS cash burn of only $30M/qtr on a 50% decline in MWs deployed.
Note that $RUN& #39;s FCF in 2019 was negative ($1.05B)! The $30M/qtr in burn counts new debt as positive FCF
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Note that $RUN& #39;s FCF in 2019 was negative ($1.05B)! The $30M/qtr in burn counts new debt as positive FCF
Think I& #39;m kidding on what they mean by cash burn? From $RUN& #39;s Q419 earnings release:
"Cash Generation was $102 million in 2019."
Good luck finding that cash generation on their Cash Flow Statement!
"Cash Generation was $102 million in 2019."
Good luck finding that cash generation on their Cash Flow Statement!
Hint: they issued over $1B of debt in 2019, which is how they got to a positive Cash Generation number (issuance of debt is Cash Generation in their insane world). They have never generated positive CFFO.
Worst. Business. Ever.
$RUN
Worst. Business. Ever.
$RUN
