Friday, January 30, 2015 4:23:00 PM
Sunworks grew from $8.5M to $20M+ revenue 2013 to 2014. So about a 130% revenue growth rate 2013-2014. They have tripled size of their office and expanded to Nevada for 2015. If we assume a reasonable 75%-150% growth rate for 2015, that gives Sunworks $35-$50M revenue for 2015. And right now buildzoom.com verifies SUNworks is indeed on track for a 100% revenue growth rate (16 projects for January x 12 months = 192 projects for 2015, twice the 97 projects for 2014).
MD will do $7-$8M this year. No reason why they won't match Sunworks 2013-2014 growth rate and post $15-$20M for 2015. Especially being in the hot SoCal solar market and heavy population.
That gives us a reasonable 2015 revenue range of $50-$70M. Without the cell.
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