Sunnova Energy crashes on going-concern doubts

Sunnova Energy International

03/03/2025 13:39

** Shares of residential solar firm Sunnova Energy International NOVA.N fall over 50% to 82 cents premarket after it raises doubts on its ability to continue as a going concern

** Co says cash flow from current activities and commitments under existing financing agreements are not sufficient to fund operations for a period of at least one year from the date it issues consolidated financial statements

** As of Dec 31, 2024, NOVA had total cash and restricted cash of $548.1 mln

** As of last close, shares were down 51.60% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))