Filing Flows › Sunrun (RUN) › Q2 2025
Sunrun (RUN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Sunrun (RUN) reported revenue of $569M for the second quarter 2025 (Q2 2025), +9% from a year earlier and +13% from the quarter before. Operating margin was -19.7%, net loss $279M (49.0% of revenue).
Sunrun, Q2 2025: revenue $569M (+9% year over year), operating margin -19.7%, net loss $279M, operating cash flow −$293M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $569M | +13% | +9% |
| Operating profit | −$112M | — | — |
| Net earnings | −$279M | — | — |
| Operating cash flow | −$293M | — | — |
What changed
Revenue was $569.3M in Q2 2025, up 9% year over year and up 13% from the previous quarter. Customer agreements was the largest line at 76% of revenue. Customer agreements added $75.4M year over year (up 21%), 166% of the total change. Solar energy systems declined 31%.
Operating costs exceeded revenue by $112.2M, an operating margin of -19.7%. Total costs grew 5% against revenue growth of 9%. The fastest-growing cost line was General & admin (+17%). The quarter ended with a net loss of $279.0M, wider than the previous quarter's $277.2M loss. Minority interests bore $558.8M of it: to shareholders the quarter was a profit of $279.8M. Net interest and other expense of $261.7M was the main reason.
Operating cash flow was −$292.7M. Non-cash charges added back $189.7M of depreciation and amortization and $25.0M of share-based compensation. Working capital and other items used $228.4M.
Questions
What was Sunrun's revenue in the second quarter 2025?
Sunrun (RUN) reported revenue of $569M for the second quarter 2025 (Q2 2025), +9% from a year earlier and +13% from the quarter before.
Was Sunrun profitable in the second quarter 2025?
Operating loss was $112M (-19.7% of revenue) and net loss $279M.
Source: Sunrun 10-Q on SEC EDGAR.