Filing Flows › Sunrun (RUN) › How it makes money
How Sunrun (RUN) makes money
Sunrun (RUN) made $1.1B of revenue in the third quarter 2026 (Q3 2026), +52% from a year earlier. Customer agreements and incentives brought in $553M (50%); Energy systems and product sales brought in $546M (50%). Of every dollar of revenue, 14¢ was left as operating profit, 14¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Customer agreements and incentives | $553M | 50.3% | +2% | +13% |
| ↳ Customer agreements | $518M | 47.1% | +2% | +13% |
| ↳ Incentives | $35.4M | 3.2% | -4% | +7% |
| Energy systems and product sales | $546M | 49.7% | +67% | +134% |
| ↳ Energy systems | $514M | 46.7% | +77% | +212% |
| ↳ Products | $32.4M | 2.9% | -8% | -52% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.1B | 100.0% |
| Operating profit | $153M | 14.0% |
| Net earnings | $153M | 13.9% |
| Operating cash flow | $301M | 27.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.1B | +52% |
| Q2 2026 | $870M | +53% |
| Q1 2026 | $722M | +43% |
| Q4 2025 | $1.2B | +124% |
| Q3 2025 | $725M | +35% |
| Q2 2025 | $569M | +9% |
| Q1 2025 | $504M | +10% |
From Sunrun's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Sunrun make money?
Sunrun (RUN) made $1.1B of revenue in the third quarter 2026 (Q3 2026), +52% from a year earlier. Customer agreements and incentives brought in $553M (50%); Energy systems and product sales brought in $546M (50%). Of every dollar of revenue, 14¢ was left as operating profit, 14¢ was left as net earnings.
What is Sunrun's biggest business?
Customer agreements and incentives: $553M in the third quarter 2026, 50% of revenue, +13% from a year earlier.
What is Sunrun's profit margin?
Net earnings were $153M, 13.9% of revenue, in the third quarter 2026; the operating margin was 14.0%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.