Sunrun Inc.RUNEarnings & Financial Report
Sunrun Inc. is an American provider of photovoltaic systems and battery energy storage products, primarily for residential customers. The company was established in 2007 and is headquartered in San Francisco, California.
RUN Q4 2025 Key Financial Metrics
Revenue
$1.2B
Gross Profit
N/A
Operating Profit
$97.4M
Net Profit
$103.6M
Gross Margin
N/A
Operating Margin
8.4%
Net Margin
8.9%
YoY Growth
123.5%
EPS
$0.38
Financial Flow
Sunrun Inc. Q4 2025 Financial Summary
Sunrun Inc. reported revenue of $1.2B (up 123.5% YoY) for Q4 2025, with a net profit of $103.6M (up 103.7% YoY) (8.9% margin). Cost of goods sold was N/A.
Key Financial Metrics
| Total Revenue | $1.2B |
|---|---|
| Net Profit | $103.6M |
| Gross Margin | N/A |
| Operating Margin | 8.4% |
| Report Period | Q4 2025 |
Revenue Breakdown
Sunrun Inc. Q4 2025 revenue of $1.2B breaks down across 4 segments, led by Products at $692.3M (59.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Products | $692.3M | 59.7% |
| Customer Agreements | $435.2M | 37.6% |
| Manufactured Product Other | $56.7M | 4.9% |
| Incentives | $31.3M | 2.7% |
Sunrun Inc. Revenue by Segment — Quarterly Trend
Sunrun Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Products and Customer Agreements) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Products | $692.3M | — | — | — |
| Customer Agreements | $435.2M | $458.5M | $433.4M | $381.4M |
| Manufactured Product Other | $56.7M | $68.2M | $73.5M | $61.3M |
| Incentives | $31.3M | $33.1M | $24.6M | $21.6M |
Sunrun Inc. Annual Revenue by Year
Sunrun Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $3.0B). Click any linked year to see what changed vs the prior annual report.
Sunrun Inc. Quarterly Revenue & Net Profit History
Sunrun Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $1.2B | +123.5% | $103.6M | 8.9% |
| Q3 2025 | $724.6M | +34.9% | $16.6M | 2.3% |
| Q2 2025 | $569.3M | +8.7% | $279.8M | 49.1% |
| Q1 2025 | $504.3M | +10.1% | $50.0M | 9.9% |
| Q4 2024 | $518.5M | +0.4% | $-2.8B | -542.7% |
| Q3 2024 | $537.2M | -4.6% | $-83.8M | -15.6% |
| Q2 2024 | $523.9M | -11.2% | $139.1M | 26.5% |
| Q1 2024 | $458.2M | -22.3% | $-87.8M | -19.2% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $458.2M | $523.9M | $537.2M | $518.5M | $504.3M | $569.3M | $724.6M | $1.16B |
| YoY Growth | -22.3% | -11.2% | -4.6% | 0.4% | 10.1% | 8.7% | 34.9% | 123.5% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $20.83B | $21.44B | $22.10B | $19.90B | $20.38B | $21.23B | $22.23B | $22.61B |
| Liabilities | $14.08B | $14.39B | $15.07B | $15.73B | $16.28B | $16.78B | $17.58B | $17.63B |
| Equity | $5.18B | $5.37B | $5.28B | $2.55B | $2.62B | $2.93B | $2.98B | $3.13B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-143.1M | $-208.5M | $-156.2M | $-258.4M | $-104.2M | $-292.7M | $-121.5M | $96.9M |