Solyndra, the thin film solar startup that filed for an IPO back in December has updated its latest financial figures for the fiscal year that ended January 2, 2010 in an amended S-1 filing on Tuesday. According to the document Solyndra brought in revenues of $100.47 million for the fiscal year that ended on January 2, 2010, up from $6.01 million for the fiscal year that ended on January 2, 2009.
Now that is some crazy revenue growth. Solyndra started commercial shipments back in July 2008 and produced 30.5 MW for the fiscal year that ended January 2010, compared to 1.8 MW for the fiscal year that ended January 2009. Solyndra is looking to boost capacity even more, and says in its filing that it is looking to “expand from our current annualized production run rate at Fab 1, which was 54 MW during our fiscal month ended January 2, 2010, to our estimated 110 MW annualized production run rate by the fourth fiscal quarter of 2010.”
At the same time that Solyndra is boosting manufacturing capacity it also seems to be successfully shoring up its losses. The company’s latest 2010 financials show a loss of $172.50 million for fiscal year that ended January 2, 2010, compared to a loss of $232.07 million for the fiscal year that ended January 2, 2009. However, Solyndra still has an accumulated deficit of $557.7 million as of January 2, 2010.
Solyndra’s major solar integrator customers for the fiscal year that ended January 2009 included Geckologic GmbH, and Phoenix Solar AG, and for the fiscal year that ended January 2010 included USE Umwelt Sonne Energie GmbH, Alwitra GmbH, Carlisle Syntec Incorporated, and Sunconnex B.V.
The company, which makes a tubular solar design for rooftops, still faces a lot of challenges in 2010. Of course there’s its pending IPO to worry about. But the company is also looking for a second loan guarantee from the DOE (it already received the first loan guarantee back in May 2009) in the amount of $469 million to partially fund Phase II of its factory production.