Solar Integrated Roofing Corp (OTCMKTS: SIRC) reported revenues of $17.1 million (up 87%) in Q1 2021.
Revenue expectations
Solar Integrated expects to post revenues of $100 million in 2022, considering the brisk pace of takeovers in 2021.
The company recently concluded several acquisitions in roofing, solar, and battery space.
Acquires Future Home Power
Solar Integrated purchased Future Home Power. The takeover helps the company to accrue weekly incremental revenues of $1 million. Future Home Power engages in the sale of roofing, solar, and battery storage.
Other acquisitions
Solar Integrated clinched a BPO firm – Balance, LLC. The company is also augmenting unified back-office capabilities for supporting its future and recent acquisitions.
Solar Integrated also took over an EV charging and diversified energy services company – Pacific Lighting Management, to support the growth of its EV charging solutions division.
Pacific Lighting supports government and large commercial customers with its innovative EV charging solutions and energy services.
Solar Integrated acquired a leading solar and roofing solution in the South Carolina and adjoining markets – Cornerstone Construction. It helps the company to transform itself into a national brand.
Solar Integrated purchased a solar installer based in southern California – Enerev. The company expects to generate monthly revenues of $2 million from this takeover.
Strengthens the board
Solar Integrated strengthened its board by inducting Muthla AlSayer, a technology expert, and Donald Pierce, an established management consultant, and executive.
The company added a cryptocurrency partner – Coinbase Commerce. It also completed the integration of financial and technical modules and expected to commence testing accepting payments in cryptocurrency for its subsidiary – Cornerstone Construction’s customers.
Solar Integrated hired MZ Group, investor relations specialists to strengthen its financial communications program and maintain strategic investor relations.
Solar Integrated’s CEO, David Massey, said the company began 2022, focusing on executing its acquisition pipeline of complementing roofing, solar, and battery companies. He is pleased that the company is transitioned into a national brand offering battery backup, solar, roofing installation, EV charging, back-office technology support, electrical contracting, and HVAC work.
Solar Integrated realized revenues of $17.1 million in 2021 through these acquisitions and expects to report robust earnings of $100 million in 2022.
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