Sunrun Reports Strong Q1 Results: Significant Revenue Growth – Profitability Restored – Solar Stock on the Fast Track
San Francisco, USA – U.S. solar provider Sunrun delivered strong financial results for the first quarter of 2025. Revenue increased by 10% to $504.3 million (Q1 2024: $458.2 million). Cash generation reached $56 million – marking the fourth consecutive quarterly surplus.
Net income stood at $50 million, or diluted earnings of $0.20 per share, compared to a loss of $87.8 million or -$0.40 per share in the same period last year.
The total value of all active customer contracts grew to $1.2 billion (+23%), and contracted net assets rose to $2.6 billion, equating to $11.36 per share. Additionally, Sunrun repaid $27 million of redeemable debt from excess cash and ended the quarter with $979 million in liquid assets.
Sunrun recorded 23,692 new customer contracts in Q1, a 7% increase year-over-year. The total number of customers grew to 912,878 (+14%). Installed solar capacity reached 191 megawatts (+8%), while storage capacity grew by 61% to 334 MWh. The share of new customers with battery storage reached 69% (previous year: 50%).
Average revenue per new customer increased by 15% to $52,206. The investment cost per customer was $41,817 (+7%). The net value per customer rose significantly to $10,390 (+66%).
For the full year, Sunrun maintains its forecast of cash generation between $200 million and $500 million.
After the first three trading days of the week, Sunrun's stock was down 1.7%, closing at €6.49 (closing price, May 7, 2025, Stuttgart Stock Exchange). This morning, however, the stock experienced a surge. It is currently up approximately 13%, trading at €7.33.
Source: IWR Online, 08 May 2025
