Replies to post #31110 on SunWorks Inc (SUNWQ)

[RezzyHooch]

Dang Sprech, you are a fiend. Why is Solarcity valued at 49.62 as of now?

[Intotheblack]

Might want to update and remove MDE as they will not have any impact on 2014. Also, Nelson said sun will do about 20mil in 2014.

If you mean 2015 then that makes much more sense...
:-)

[maverick1856]

Your comparison is inaccurate...Solar3d's business model is primarily a sales based installation model where SLTD books revenue based upon completion of projects, and there is very little if any future revenue associated with any of these jobs once they are completed.

While SolarCity books revenue based upon the current/realized period of the Solar System Lease..which are usually 20 year leases...basically this means that the $124M in revenue SolarCity reported for FY14 YTD in November is only the current portion of the revenue...it does not include the additional $2.4B SolarCity has as an asset for future revenue based on the solar leases they have sold. This is why SolarCity has such a higher market cap, investors have visibility into a substantial stream of out year revenues which makes SolarCity very similar to a utility company.

If you want to compare these two companies then you need to adjust the SolarCity revenues to include all of the deferred revenues for projects completed during the period in comparison.

Hopefully you do not take this the wrong way...and before you start bashing me, I'll disclose that I am holding a decent long position in SLTD.

[ImpishGrin]

And just as a follow-up note - most if not all of the negative Net Income, for Solar3D in 2014, is due to the one-time, revised treatment of the derivative liability. As a result, the upcoming 10-K numbers may not impress the casual investor.

Yet there still should be an overall Operating Profit for the year as your numbers suggest which tells the REAL story. That story will be further reinforced when the 10-Q for 2015-Q1 is released just a few weeks later. Then we clearly should have positive Net Income as well as Operating Profit! That should give us a nice boost . . . _/

Not an accountant - just in my best opinion (JIMBO)