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  "documentTitle": "Sunnova Energy International Inc. (NOVA)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-09-29 00:00:00",
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      "kind": "callout",
      "text": "FY2019 and YTD revenue growth is slowing",
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      "text": "While Q2 2020 revenue was up Y-o-Y, we believe this was due to the catchup after a weak Q1",
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      "text": "Revenue Growth (FY2018-FY2019, Q2-2019 YTD-Q2-2020 YTD)",
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      "text": "Revenue Growth: 26%",
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      "text": "We observe slowing reported revenue growth as the solar financing market remains highly competitive with little differentiation between companies' offerings. Sunnova is not immune from the industry pressure and the recent cost driven Sunrun / Vivint Solar deal signals lower future revenue growth. Despite Y-o-Y revenue growth in Q2 2020, YTD revenue growth follows the greater trend, down from 35% to ~26% Y-o-Y.",
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      "text": "Source: Company filings",
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      "text": "Revenue Growth Decelerating",
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