Following the release of the company’s impressive financial results for the second quarter that concluded on June 30, 2025, Sunrun Inc. (NASDAQ: RUN) had a notable spike in share price this morning, increasing 30.42% to $11.83.
Strong Financial Results and Margin Growth
Sunrun reported $569.3 million in total sales in Q2 2025, a 9% year-over-year growth. The main driver of this gain was an 18% increase in revenue from client agreements and incentives, which came to $458.0 million. In the meantime, sales of products and solar energy systems saw an 18% drop in revenue, reaching $111.3 million.
While net income attributable to common stockholders was $279.8 million, or $1.22 per basic share and $1.07 per diluted share, operating expenditures and cost of revenue both saw modest 5% increases. Additionally, the business reported its highest-ever Upfront Net Subscriber Value, with a 17 percentage point increase in margin from year to year.
Growth in Storage, Grid Services, and Efficiency
Sunrun reached a new high with a 70% storage attachment rate, up from 54% a year ago, driven by increased demand for resilient home energy solutions. The company added 50% more storage customers than in the prior-year quarter and has now installed over 195,000 solar and storage systems, representing 3.2 GWh of Networked Storage Capacity.
As the largest home-to-grid distributed power plant operator in the U.S., Sunrun provided essential utility-scale services, including energy dispatches that helped prevent rolling blackouts during power plant outages last month.
Debt Reduction and Capital Market Activity
Sunrun continued strengthening its balance sheet, reducing recourse debt by $21 million in Q2 and by $235 million since March 2024. It also raised $431 million through its third securitization transaction of 2025, bringing total asset-backed issuance to approximately $1.4 billion for the year.
Partnership with Tesla Expands in Texas
In July, Sunrun launched an exclusive offering for Texas customers—Tesla Electric + Sunrun Flex—delivering fixed electricity rates, competitive solar sellback pricing, and advanced battery-backed outage protection, enhancing both value and peace of mind for residential users.
