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Sunrun RUN Under Customer Agreements: — Deferred Revenue

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Other financials

Income statement

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Revenue$870.0M+52.8%
Operating income$34.8M+131%
Net income$115.2M-58.8%
EPS (diluted)$0.42-60.7%

Balance sheet

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Cash & equivalents$712.4M+15.3%
Total debt$72.8M-28.6%
Total equity$3.5B+19.2%
Total assets$23.4B+10.0%

Cash flow

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Operating cash flow-$186.2M+36.4%
CapEx$4.3M+409%
Free cash flow-$190.5M+35.1%

Valuation

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Market cap$2.26B+9.0%
Enterprise value$1.62B+4.1%
P/E5.6×
P/S0.7×-0.3×

Profitability

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Gross margin55.4%
Operating margin-150.2%-204pp
Net margin11.6%+6.1pp
FCF margin-33.7%+3.3pp

Returns & leverage

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Return on equity12.6%+6.9pp
Debt / equity0.0×
Current ratio1.4×0.0×

Where this comes from

Reported directly by Sunrun in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The source filing: Sunrun’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:14 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053366
Line itemJune 30, 2026December 31, 2025
Under Customer Agreements:
Payments received, net$1,063,433$1,047,929
Financing component balance91,09187,294
1,154,5241,135,223
Under SREC contracts:
Payments received, net362,634356,263
Financing component balance26,59021,847
389,224378,110

Item 1. Financial Statements (Unaudited)

FAQ

What is Sunrun's under customer agreements: — deferred revenue?
Sunrun (RUN) reported under customer agreements: — deferred revenue of $1.15B in Q2 2026.
How has Sunrun's under customer agreements: — deferred revenue changed year-over-year?
Sunrun's under customer agreements: — deferred revenue increased by 8.2% year-over-year, from $1.07B to $1.15B.
What is the long-term trend for Sunrun's under customer agreements: — deferred revenue?
Over 3 years (2022 to 2025), Sunrun's under customer agreements: — deferred revenue has grown at a 10.7% compound annual growth rate (CAGR), from $3.22B to $4.36B.
What does under customer agreements: — deferred revenue mean?
This metric represents the portion of payments received from customers under long-term solar energy service agreements that has not yet been recognized as revenue. It reflects the obligation to provide solar energy services over the remaining term of the contract as the performance obligations are satisfied over time. This balance serves as a key indicator of future contracted revenue streams and the long-term stability of the customer base.

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