Sunrun stock holds on to growth as revenue reaches $405.6 million

Sunrun stock, tied to Sunrun Inc. (US86732Y1091), is anchored by second-quarter 2026 revenue of $405.6 million and a customer base that reached 1.02 million as of 30 June 2026. The company also reported 188 MW of deployments in the quarter, giving the stock a numbers-first backdrop even without a fresh market catalyst.

$405.6 million revenue

In the second quarter of 2026, Sunrun reported revenue of $405.6 million, compared with $523.9 million in the second quarter of 2025. That is a year-over-year decline of 22.6%, a useful comparison because it shows how the business is still working through a lower-revenue period while keeping a large installed base in place.

Adjusted EBITDA came in at $158.9 million in the same quarter, and the company ended the period with 1.02 million customers. Those two figures matter together: one shows operating cash generation, while the other shows the scale of the recurring customer base behind the companys subscription model.

188 MW and 1.02 million customers

Sunrun said it deployed 188 MW in the second quarter of 2026, after 189 MW in the first quarter of 2026. The sequential change is modest, but it still gives a concrete read on volume trends across the companys residential solar and storage platform.

The customer count of 1.02 million as of 30 June 2026 is the larger structural number. For equity holders, that base is often read alongside cash generation and deployment volume, because the value of the installed fleet depends on both growth and operating discipline.

Capital structure pressure

At the quarter end, Sunrun reported total cash and cash equivalents of $542 million and total debt of $8.3 billion. The debt figure is more than 15 times the cash balance, which keeps balance-sheet leverage central to any reading of the stock.

That leverage backdrop matters because the companys revenue base has moved lower year over year while the installed customer count stayed above 1 million. The comparison between scale and profitability is more relevant than a simple sales headline for assessing Sunrun stock.

Residential solar remains the product

Sunrun's core product remains its residential solar and storage offering, built around home customers rather than utility-scale projects. The quarter's 188 MW of deployments and 1.02 million customers show that the product line still operates at national scale, even as revenue and leverage stay under close scrutiny.

The companys model is also visible in its mix of recurring customer relationships and asset-backed financing. That structure can support long-dated cash flow, but the quarter's $8.3 billion debt load means the balance between growth and capital intensity remains a central issue.

Sunrun stock as of now

Sunrun stock is quoted on Nasdaq under RUN, and its latest public numbers leave investors focused on the gap between a $405.6 million quarterly revenue base and $8.3 billion of debt. As of 21 July 2026, the most defensible reading is that Sunrun remains a scale story with leverage still at the center of the valuation debate.