Sunrun
November 4, 2026
SAN FRANCISCO - November 4, 2026
Sunrun reported third-quarter 2026 revenue of $1.10 billion on November 4, up 52 percent from $724.6 million a year earlier, as the residential solar and storage company said its direct-install business returned to growth and storage attachments hit a company record.
Net income attributable to common stockholders was $153.2 million, or $0.64 per basic share and $0.56 per diluted share, compared with $16.6 million, or $0.07 and $0.06, in the third quarter of 2025. Customer agreements and incentives revenue rose 13 percent to $553.5 million. Energy systems and product sales jumped 134 percent to $546.0 million, which the company tied mainly to a third-party sale arrangement for certain newly originated storage and energy systems that began in the third quarter of 2025; Sunrun said it still handles the customer experience and servicing on those accounts.
"Sunrun has returned its direct business to growth, with installations increasing 9 percent year-over-year," said Mary Powell, chief executive officer. "Sunrun is the nation's largest Residential Independent Power Producer. We hit a 75 percent attachment rate of storage assets, the highest in our history."
Subscriber Additions were 22,957 in the quarter, down 24 percent from a year earlier. Sunrun ended September 30 with 1,057,695 Subscribers, up 9 percent year over year, and 1,229,709 Customers. Storage Attachment Rate reached a record 75 percent, up from 70 percent a year earlier. Networked Storage Capacity stood at about 5.0 gigawatt-hours across more than 284,000 storage and solar systems. Aggregate Subscriber Value for the quarter was about $1.3 billion, down 20 percent from the prior-year period. Net Subscriber Value fell 28 percent to $9,462.
Net cash provided by operating activities was $301 million. Cash Generation, a non-GAAP measure the company emphasizes, was $6 million, or $56 million excluding $50 million of net investments in equipment for tax-credit safe harbor. Chief financial officer Danny Abajian said the company expects higher Cash Generation in the fourth quarter.
For full-year 2026, Sunrun narrowed Aggregate Subscriber Value guidance to about $4.6 billion from a prior range of $4.6 billion to $4.9 billion. Cash Generation guidance was revised to about $200 million for the year, excluding equipment safe-harbor investments, from a prior range of $200 million to $375 million.
Sunrun, based in San Francisco, sells and leases home solar and battery systems and runs home-to-grid power programs. Its stock trades on Nasdaq under the symbol RUN.