San Francisco, CA – Sunrun (Nasdaq: RUN), America’s largest provider of home battery storage, solar, and home-to-grid power plants, announced financial results for the fourth quarter and full year ended December 31, 2025.
Highlights:
Net change in cash and restricted cash of $290 million and Cash Generation1 of $377 million in 2025
Outlook for positive Cash Generation2 in the range of $250 million to $450 million for full year 2026
Aggregate Subscriber Value of $1.3 billion in Q4
Contracted Net Value Creation of $176 million in Q4, or $0.76 per share
Storage Attachment Rate reached record 71% in Q4
Paid down $81 million of recourse debt in Q4 with excess cash
Mary Powell, Sunrun’s Chief Executive Officer, said:
“Sunrun is delivering innovative, storage-first energy offerings that protect American families from rising utility costs and an increasingly unreliable power grid. As we continue to scale our network of over one million customers, we are building a distributed power plant that we believe is critical in meeting the nation’s urgent demand for more power. We are executing on this vital mission from a position of financial strength – generating strong margins and structurally generating cash.”
“We exceeded the midpoint of our Cash Generation guidance for the year and are on track for another strong year