Filing Flows › Sunrun (RUN) › Q3 2026 › vs Q3 2025
Sunrun (RUN) Q3 2026 vs Q3 2025 (year over year)
Sunrun's revenue rose $375M (+52%) from $725M in Q3 2025 to $1.1B in Q3 2026. The biggest changes: Energy systems and product sales +$313M (+134%); Customer agreements and incentives +$61.9M (+13%). Operating margin 14.0% against 0.5% (+13.5 pts).
Sunrun, Q3 2026: revenue $1.1B (+52% year over year), operating margin 14.0%, net earnings $153M, operating cash flow $301M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 14.0% | 0.5% | +13.5 pts |
| Net margin | 13.9% | 2.3% | +11.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Customer agreements | $518M | $458M | $59.6M | +13% |
| Energy systems | $514M | $165M | $349M | +212% |
| Incentives | $35.4M | $33.1M | $2.3M | +7% |
| Products | $32.4M | $68.2M | −$35.8M | -52% |
| Customer agreements and incentives | $553M | $492M | $61.9M | +13% |
| Energy systems and product sales | $546M | $233M | $313M | +134% |
| Revenue | $1.1B | $725M | $375M | +52% |
| Operating profit | $153M | $3.7M | $150M | 42× |
| Costs & expenses | $946M | $721M | $225M | +31% |
| Pre-tax earnings | $41.8M | −$280M | $322M | — |
| Other expense, net | $112M | $284M | −$172M | -61% |
| Research & development | $10.1M | $9.3M | $877K | +9% |
| Sales & marketing | $240M | $165M | $75.2M | +46% |
| General & admin | $65.9M | $65.5M | $381K | +0.6% |
| Other operating costs | $630M | $481M | $149M | +31% |
| Income tax benefit | $45.2M | $2.2M | $43.0M | 21× |
| Loss borne by minority interests | $66.3M | $294M | −$228M | -77% |
| Net earnings | $153M | $16.6M | $137M | +824% |
| Depreciation & amortization | $197M | $182M | $15.1M | +8% |
| Share-based compensation | $19.3M | $29.6M | −$10.3M | -35% |
| Working capital & other | $67.8M | $349M | −$281M | -81% |
| Operating cash flow | $301M | −$122M | $423M | — |
Questions
How much did Sunrun's revenue grow year over year in Q3 2026?
Sunrun's revenue rose $375M (+52%) from $725M in Q3 2025 to $1.1B in Q3 2026.
What drove Sunrun's revenue change in Q3 2026?
Energy systems and product sales +$313M (+134%); Customer agreements and incentives +$61.9M (+13%).