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SolarCity Corporation
SolarCity Corporation is a publicly traded company as of December 2012.
Below is PrivCo's archived report for SolarCity Corporation
Business Summary
SolarCity Corporation is a privately-held, venture capital backed company specializing in solar power design, financing, installation, and maintenance. SolarCity Corporation was founded with the mission to help millions of homeowners and businesses adopt clean power, protect themselves from rising gas and electricity costs, and protect the environment. SolarCity's SolarLease and Power Purchase Agreement options can make it possible for homeowners and businesses to switch to clean, solar power for less money than they currently pay for electricity. SolarCity's 23 operations centers serve Arizona, California, Colorado, Hawaii, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Texas and Washington, D.C. Founded in 2006 by Lyndon Rive and Peter Rive, SolarCity Corporation has headquarters in Foster City, California.
Recent News, Updates, and Analysis
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SOLARCITY IPO Pops 47% To $11.79 In Today's Debut, After Dramatic Price Cut To $8 From $13-$15 Initial Range; PBF Energy Inc. Also Goes Public
Dec. 2012 December 13, 2012 4:00 pm EST - SolarCity Corporation's (NASDAQ: SCTY) stock price surged in its first day of trading, closing at $11.79, up 47% over its IPO price of $8 (saw highs of $12.7). This successful first day of trading is a validation of investor interest in SolarCity, which experienced a rocky week on its way to today's NASDAQ IPO. Also going public today is petroleum refiner PBF Energy, Inc. (NYSE: PBF). … Read More » -
SOLARCITY Slashes IPO Price To $8 Per Share - Far Below Initial Range Of $13-$15 - On Weak Demand, After Postponing Last Minute Tuesday Night; Shares Offered Boosted To 11.5 Million Shares For Downsized IPO Of Just $92M: "Big Blow To Cleantech IPOs"
Dec. 2012 December 12, 2012 4:30 pm EST - SolarCity has set the final terms for its IPO, pricing its shares at $8 per share, well below its initial range of $13-$15. … Read More » -
Breaking News: SOLARCITY Postpones NASDAQ IPO on Weak Demand
Dec. 2012 December 11, 2012 6:30 pm EST - SolarCity has postponed its IPO plans. … Read More » -
SOLARCITY To IPO On NASDAQ This Week, Aims To Raise $141 Million In Rocky Market For Clean-Tech IPOs, But ELON MUSK's Backing Raises Hopes For Sunshine; PrivCo Analyzes SOLARCITY's Financials And Its IPO's Strengths & Risks
Dec. 2012 December 10, 2010 7:45 pm EST - SolarCity is looking to price on NASDAQ this week. With a revised goal to raise $141 Million, down from $201 Million when it first filed - SolarCity is testing an IPO market that has generally given solar and clean-tech companies the cold shoulder. The only other clean-tech company to IPO this year is Enphase (March 2012). … Read More » -
IPO MARKET GAINS MOMENTUM IN OCTOBER: Last Week Was 1st Time In 10 Years That 4 IPOS All Popped Over 20% In Same 1st-Day Trading; Next On Tap: RESTORATION HARDWARE, SILVER SPRING NETWORKS, And SOLARCITY; Twitter Acquires Mobile App Cabana
Oct. 2012 The IPO market has officially returned from the summer lull and swung into full force last week with Workday's $637 million offering. In addition to Workday, four other companies debuted last week: Realogy, Shutterstock, Kythera Biopharmaceuticals, and Intercept Pharmaceuticals. These four stocks climbed at least 20% in their first trading sessions on Thursday. This is the first time in more than 10 years that as many IPOs have popped over 20% in their first day of trading. … Read More »
Overview & Corporate Organization
Basic Information
| Company Tags: | VC Backed |
| Year Founded: | 2006 |
| Fiscal Year End: | 12/31 |
| 1YR Revenue Growth Rate: | View % |
| 3YR Revenue Growth Rate (CAGR): | View % |
| 1YR Employee Growth Rate: | View % |
| 3YR Employee Growth Rate (CAGR): | View % |
| City: | San Mateo |
| State/Province: | California |
| Country: | United States |
| Phone: | View |
| Fax: | View |
| Website: | www.solarcity.com |
| Twitter: | http://www.twitter.com/SolarCity |
| LinkedIn: | http://www.linkedin.com/company/solarcity |
| Facebook: | http://www.facebook.com/solarcity |
Corporate Organization
| Brands: | PowerGuide SolarCity SolarStrong |
| Founders: | Elon Musk Lyndon Rive Peter Rive |
Industry Information
PrivCo Industries (Sector > Industry > Sub-Industry)
The PrivCo Industry Classification System™ (PICS) is our proprietary, modernized industry classification system, geared especially toward privately-held companies and including newer emerging sub-industries that are not reflected in other outdated industry classification systems, such as SIC and NAICS.
Competitors & Comparables
Ownership
| Owner Name | Type of Owner | % Ownership Stake |
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Charts, Financials, and Statistics (Table Format)
Copy & Paste Financials Into Spreadsheet or
| Income Statement | 2011 | 2010 | 2009 |
| Other Sales Revenue, Net - Services | View | View | View |
| Revenue from Lease or rental of property or equipment | View | View | View |
| Revenues | View | View | View |
| Cost of Services - Other | View | View | View |
| Direct Operating Costs | View | View | View |
| Cost of Goods and Services Sold | View | View | View |
| Gross Profit | View | View | View |
| Selling and Marketing Expenses | View | View | View |
| General and Administrative Expenses | View | View | View |
| Total Operating Expenses excluding costs | View | View | View |
| Operating Income/(Loss) | View | View | View |
| Interest Expense | View | View | View |
| Non-operating Expense - Other | View | View | View |
| Income/(Loss) from Continuing Operations Before Income Taxes | View | View | View |
| Provision for Income Taxes | View | View | View |
| Minority Interest, Net of Tax Effect | View | View | View |
| Net Income (Loss) | View | View | View |
| Balance Sheet | 2011 | 2010 |
| Cash and Cash Equivalents | View | View |
| Current Restricted Cash | View | View |
| Net Accounts Receivable Trade | View | View |
| Net Other Receivables | View | View |
| Net Inventories | View | View |
| Current Deferred Income Taxes | View | View |
| Prepaid Expenses | View | View |
| Current Assets | View | View |
| Other Property, Plant and Equipment | View | View |
| Other Property, Plant and Equipment, Net | View | View |
| Restricted Cash | View | View |
| Noncurrent Other Assets | View | View |
| Assets | View | View |
| Accounts Payable | View | View |
| Accrued Expenses - Other | View | View |
| Dividends Payable | View | View |
| Current Deferred/(Unearned) Revenue | View | View |
| Current Customer Deposits | View | View |
| Current Line of Credit | View | View |
| Current Portion of Long-Term Debt | View | View |
| Current Capital Lease Obligations | View | View |
| Current Other Liabilities | View | View |
| Current Liabilities | View | View |
| Long-Term Debt | View | View |
| Capital Lease Obligations - Long-Term | View | View |
| Minority Interest | View | View |
| Deferred Tax Liability | View | View |
| Deferred/(Unearned) Revenue - Long-Term | View | View |
| Noncurrent Other Liabilities | View | View |
| Liabilities | View | View |
| Redeemable Convertible Preferred Stock Obligations | View | View |
| Common Stock - Value (Excluding Additional Paid in Capital) | View | View |
| Additional Paid in Capital | View | View |
| Retained Earnings | View | View |
| Stockholders' Equity | View | View |
| Liabilities and Stockholders' Equity | View | View |
| Cash Flow Statement | 2011 | 2010 | 2009 |
| Operating Activities Beginning Net Income | View | View | View |
| Depreciation and Amortization | View | View | View |
| Gain/(Loss) on Sale/Retirement of Property, Plant and Equipment | View | View | View |
| Adjustment for Equity Based Compensation Expense | View | View | View |
| Deferred Income Taxes | View | View | View |
| Other Adjustments to Common Stockholders' Net Income - Increase/(Decrease) | View | View | View |
| Change Accounts Receivable | View | View | View |
| Change Other Receivable | View | View | View |
| Increase/(Decrease) in Inventories | View | View | View |
| Increase/(Decrease) in Other Current Assets | View | View | View |
| Change Prepaid Expenses Other Current Assets | View | View | View |
| Increase/(Decrease) in Other Non-operating Assets | View | View | View |
| Increase/(Decrease) in Accounts Payable | View | View | View |
| Increase/(Decrease) in Accrued Expenses | View | View | View |
| Increase/(Decrease) in Unearned Premiums | View | View | View |
| Increase/(Decrease) in Customer Deposits | View | View | View |
| Net Cash Flows Provided By/(Used In) Operating Activities | View | View | View |
| Purchase of Property, Plant and Equipment | View | View | View |
| Acquisition of Businesses, Net of Cash Acquired | View | View | View |
| Purchase of Other Assets | View | View | View |
| Net Cash Flows Provided By/(Used In) Investing Activities | View | View | View |
| Proceeds from Lines of Credit | View | View | View |
| Repayments on Lines of Credit | View | View | View |
| Proceeds from Capital Lease Obligations | View | View | View |
| Net Proceeds from Issuance of Long-Term Debt and Capital Securities | View | View | View |
| Reduction of Capital Lease Obligations | View | View | View |
| Repayments of Long-Term Debt and Capital Securities | View | View | View |
| Proceeds from Issuance of Treasury Stock | View | View | View |
| Proceeds from Issuance of Redeemable Convertible Preferred Stock | View | View | View |
| Proceeds from Stock Options Exercised | View | View | View |
| Proceeds Issuance Minority Interest | View | View | View |
| Payment of Dividends - Minority Interest | View | View | View |
| Net Cash Flows Provided By/(Used In) Financing Activities | View | View | View |
| Increase/(Decrease) in Cash and Cash Equivalents | View | View | View |
| Cash and cash equivalents at the beginning of the year | View | View | View |
| Total Cash and cash equivalents at the end of the year | View | View | View |
| Income Taxes Paid | View | View | View |
| Cash Interest Expense | View | View | View |
| Supplemental Other Net | View | View | View |
| Financial Notes: | |
| * | SolarCity Corporation fiscal year end: 12/31 |
Charts, Financials, and Statistics (Graphs)
(Copy and paste into spreadsheet or export all SolarCity Corporation financials to Excel and create your own graphs.)
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SolarCity Corporation Other Sales Revenue, Net - Services ($ MM): |
SolarCity Corporation Revenue from Lease or rental of property or equipment ($ MM): |
SolarCity Corporation Revenues ($ MM): |
SolarCity Corporation Cost of Services - Other ($ MM): |
SolarCity Corporation Direct Operating Costs ($ MM): |
SolarCity Corporation Cost of Goods and Services Sold ($ MM): |
SolarCity Corporation Gross Profit ($ MM): |
SolarCity Corporation Selling and Marketing Expenses ($ MM): |
SolarCity Corporation General and Administrative Expenses ($ MM): |
SolarCity Corporation Total Operating Expenses excluding costs ($ MM): |
SolarCity Corporation Operating Income/(Loss) ($ MM): |
SolarCity Corporation Interest Expense ($ MM): |
SolarCity Corporation Non-operating Expense - Other ($ MM): |
SolarCity Corporation Income/(Loss) from Continuing Operations Before Income Taxes ($ MM): |
SolarCity Corporation Provision for Income Taxes ($): |
SolarCity Corporation Minority Interest, Net of Tax Effect ($ MM): |
SolarCity Corporation Net Income (Loss) ($ MM): |
SolarCity Corporation Cash and Cash Equivalents ($ MM): |
SolarCity Corporation Current Restricted Cash ($ MM): |
SolarCity Corporation Net Accounts Receivable Trade ($ MM): |
SolarCity Corporation Net Other Receivables ($ MM): |
SolarCity Corporation Net Inventories ($ MM): |
SolarCity Corporation Current Deferred Income Taxes ($ MM): |
SolarCity Corporation Prepaid Expenses ($ MM): |
SolarCity Corporation Current Assets ($ MM): |
SolarCity Corporation Other Property, Plant and Equipment ($ MM): |
SolarCity Corporation Other Property, Plant and Equipment, Net ($ MM): |
SolarCity Corporation Restricted Cash ($ MM): |
SolarCity Corporation Noncurrent Other Assets ($ MM): |
SolarCity Corporation Assets ($ MM): |
SolarCity Corporation Accounts Payable ($ MM): |
SolarCity Corporation Accrued Expenses - Other ($ MM): |
SolarCity Corporation Dividends Payable ($ MM): |
SolarCity Corporation Current Deferred/(Unearned) Revenue ($ MM): |
SolarCity Corporation Current Customer Deposits ($ MM): |
SolarCity Corporation Current Line of Credit ($ MM): |
SolarCity Corporation Current Portion of Long-Term Debt ($ MM): |
SolarCity Corporation Current Capital Lease Obligations ($ MM): |
SolarCity Corporation Current Other Liabilities ($ MM): |
SolarCity Corporation Current Liabilities ($ MM): |
SolarCity Corporation Long-Term Debt ($ MM): |
SolarCity Corporation Capital Lease Obligations - Long-Term ($ MM): |
SolarCity Corporation Minority Interest ($ MM): |
SolarCity Corporation Deferred Tax Liability ($ MM): |
SolarCity Corporation Deferred/(Unearned) Revenue - Long-Term ($ MM): |
SolarCity Corporation Noncurrent Other Liabilities ($ MM): |
SolarCity Corporation Liabilities ($ MM): |
SolarCity Corporation Redeemable Convertible Preferred Stock Obligations ($ MM): |
SolarCity Corporation Common Stock - Value (Excluding Additional Paid in Capital) ($): |
SolarCity Corporation Additional Paid in Capital ($ MM): |
SolarCity Corporation Retained Earnings ($ MM): |
SolarCity Corporation Stockholders' Equity ($ MM): |
SolarCity Corporation Liabilities and Stockholders' Equity ($ MM): |
SolarCity Corporation Operating Activities Beginning Net Income ($ MM): |
SolarCity Corporation Depreciation and Amortization ($ MM): |
SolarCity Corporation Gain/(Loss) on Sale/Retirement of Property, Plant and Equipment ($): |
SolarCity Corporation Adjustment for Equity Based Compensation Expense ($ MM): |
SolarCity Corporation Deferred Income Taxes ($): |
SolarCity Corporation Other Adjustments to Common Stockholders' Net Income - Increase/(Decrease) ($ MM): |
SolarCity Corporation Change Accounts Receivable ($ MM): |
SolarCity Corporation Change Other Receivable ($ MM): |
SolarCity Corporation Increase/(Decrease) in Inventories ($ MM): |
SolarCity Corporation Increase/(Decrease) in Other Current Assets ($ MM): |
SolarCity Corporation Change Prepaid Expenses Other Current Assets ($ MM): |
SolarCity Corporation Increase/(Decrease) in Other Non-operating Assets ($ MM): |
SolarCity Corporation Increase/(Decrease) in Accounts Payable ($ MM): |
SolarCity Corporation Increase/(Decrease) in Accrued Expenses ($ MM): |
SolarCity Corporation Increase/(Decrease) in Unearned Premiums ($ MM): |
SolarCity Corporation Increase/(Decrease) in Customer Deposits ($ MM): |
SolarCity Corporation Net Cash Flows Provided By/(Used In) Operating Activities ($ MM): |
SolarCity Corporation Purchase of Property, Plant and Equipment ($ MM): |
SolarCity Corporation Acquisition of Businesses, Net of Cash Acquired ($ MM): |
SolarCity Corporation Purchase of Other Assets ($ MM): |
SolarCity Corporation Net Cash Flows Provided By/(Used In) Investing Activities ($ MM): |
SolarCity Corporation Proceeds from Lines of Credit ($ MM): |
SolarCity Corporation Repayments on Lines of Credit ($ MM): |
SolarCity Corporation Proceeds from Capital Lease Obligations ($ MM): |
SolarCity Corporation Net Proceeds from Issuance of Long-Term Debt and Capital Securities ($ MM): |
SolarCity Corporation Reduction of Capital Lease Obligations ($ MM): |
SolarCity Corporation Repayments of Long-Term Debt and Capital Securities ($ MM): |
SolarCity Corporation Proceeds from Issuance of Treasury Stock ($ MM): |
SolarCity Corporation Proceeds from Issuance of Redeemable Convertible Preferred Stock ($ MM): |
SolarCity Corporation Proceeds from Stock Options Exercised ($ MM): |
SolarCity Corporation Proceeds Issuance Minority Interest ($ MM): |
SolarCity Corporation Payment of Dividends - Minority Interest ($ MM): |
SolarCity Corporation Net Cash Flows Provided By/(Used In) Financing Activities ($ MM): |
SolarCity Corporation Increase/(Decrease) in Cash and Cash Equivalents ($ MM): |
SolarCity Corporation Cash and cash equivalents at the beginning of the year ($ MM): |
SolarCity Corporation Total Cash and cash equivalents at the end of the year ($ MM): |
SolarCity Corporation Income Taxes Paid ($ MM): |
SolarCity Corporation Cash Interest Expense ($ MM): |
SolarCity Corporation Supplemental Other Net ($ MM): |
SolarCity Corporation Total Employees: |
SolarCity Corporation Productivity (Revenue/Employee) ($): |
SolarCity Corporation Implied Company Valuation ($ MM): |
SolarCity Corporation Stock Price ($): |
Mergers & Acquisitions
| Date | Status | Target | Buyer | Deal Type | Price | |
| Details | May. 2010 | Completed | View | View | Acquisition Asset Sale | View |
| Details | Jan. 2011 | Completed | View | View | Acquisition Asset Sale | View |
| Details | Feb. 2011 | Completed | View | View | Acquisition Asset Sale | View |
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VC/Funding Activity
| Date | Investor | Round | Investor Type | |
| Sep. 2006 | View | Seed | Angel / Individual | |
| Sep. 2006 | View | Seed | Angel / Individual | |
| Sep. 2006 | View | Seed | Angel / Individual | |
| Details | Total Round Seed View | |||
| Aug. 2007 | View | C | Venture Capital | |
| Aug. 2007 | View | C | Private Equity | |
| Aug. 2007 | View | C | Venture Capital | |
| Details | Total Round C1 View | |||
| Oct. 2008 | View | D | Corporate | |
| Oct. 2008 | View | D | Venture Capital | |
| Oct. 2008 | View | D | Venture Capital | |
| Oct. 2008 | View | D | Private Equity | |
| Details | Total Round D2 View | |||
| Oct. 2009 | View | Venture Round | Venture Capital | |
| Details | Total Round Venture Round View | |||
| Jan. 2010 | View | E | ||
| Details | Total Round E View | |||
| Jan. 2010 | View | Debt Funding | Private Equity | |
| Details | Total Round Debt Funding View | |||
| Jul. 2010 | View | E-1 | Venture Capital | |
| Jul. 2010 | View | E-1 | Venture Capital | |
| Jul. 2010 | View | E-1 | Venture Capital | |
| Jul. 2010 | View | E-1 | Venture Capital | |
| Details | Total Round E-13 View | |||
| Jul. 2011 | View | Venture Round | ||
| Details | Total Round Venture Round View | |||
| Feb. 2012 | View | Venture Round | Private Equity | |
| Feb. 2012 | View | Venture Round | Small Business Investment Company (SBIC) | |
| Feb. 2012 | View | Venture Round | Venture Capital | |
| Details | Total Round Venture Round View | |||
| Jun. 2012 | View | Venture Round | Corporate | |
| Details | Total Round Venture Round View | |||
| Total of Funding Shown Above View | ||||
| 1 | 8 accredited investors participated in...Read More → |
| 2 | 6 accredited...Read More → |
| 3 | Mayfield provided the majority of...Read More → |
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Public / Private History (PPH™)
| Date | Deal Type | Action | Resulting Status | Valuation | Amount Raised | Public Ticker | |
| Details | Dec. 2012 | View | View | View1 | View | View | View |
| 1 | IPO was expected to take...Read More → |
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Detailed Business Description: SolarCity Corporation
SolarCity Corporation Business Model
SolarCity Corporation provides solar system design and installation services. SolarCity Corporation offers commercial powerstation, solarguard monitoring, and solar lease and financing services; and a set of energy-related services, including upgrading air conditioning systems and insulating air ducts to minimize leaks. SolarCity Corporation also provides residential solar services for Oregon homeowners. SolarCity Corporation offers its products and services to commercial, residential, and government customers in San Francisco Bay area, San Jose, Los Angeles, Fresno, San Diego, and Sacramento, California; Portland, Oregon; Phoenix, Arizona; and Colorado. SolarCity Corporation was founded in 2006 and has headquarters in Foster City, California with an operations center in Marlborough, Massachusetts. SolarCity Corporation has additional offices in San Francisco, Los Angeles, Fresno, Foster City, Berkeley, San Diego, Culver City, and Sacramento,… Continue Reading →
Exhibits
Supplemental Resources
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