Sunrun Inc. reported total revenue of $569.3 million for the second quarter of 2025, a 9% increase from the prior-year period. Revenue from Customer Agreements and Incentives grew by 18% to $458.0 million, while Solar Energy Systems and Product Sales revenue decreased by 18% to $111.3 million, reflecting the company's increasing mix of subscription customers.
The company achieved its fifth consecutive quarter of positive Cash Generation, reporting $27 million in Q2 2025. Contracted Net Value Creation surged by 316% year-over-year to $376 million, or $1.64 per share, and Aggregate Subscriber Value increased by 40% to $1.6 billion. The storage attachment rate reached an all-time high of 70% for new customers, with Storage Capacity Installed growing 48% to 392 megawatt hours.
Sunrun reiterated its full-year 2025 Cash Generation guidance of $200 million to $500 million. Notably, the company raised its full-year 2025 Contracted Net Value Creation guidance to a range of $1.0 billion to $1.3 billion, an increase from the prior range of $650 million to $850 million, representing 67% growth at the midpoint. This upward revision is attributed to increased cost efficiencies and value optimization.
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