MARKET COMPOSITE
Market TodayThemes and Stocks SummaryThematic Stock SearchCrypto SummaryFAQAbout
Home/
RUN - Sunrun Inc
$16.83
0.17(1.02%)8:00:00 PM 5/26/2023
Sunrun Inc. is an American provider of residential solar panels and home batteries, headquartered in San Francisco, California. Sunrun was co-founded in January 2007 by Lynn Jurich, Ed Fenster, and Nat Kreamer with a business model in which it offered customers either a lease or a Power Purchase Agreement business model whereby homeowners paid for electricity usage but did not buy solar panels outright, reducing the initial capital outlay required by the homeowner. Sunrun is responsible for installation, maintenance, monitoring and repairs.

Financials

Quarterly financials
(USD)Mar 2023Q/Q
Revenue589.8MM-3%
Operating Income-227.7MM+20%
Operating Expenses817.5MM-
Net Income-240.4MM-481%
R&D4.6MM+11%
G&A51.9MM+6%
Marketing202.8MM+7%
Amortization1.3MM-

Highlights of Management Discussion and Risk Factors in 10-K/10-Q filling

Positive
1.
We believe Sunrun will be uniquely positioned as the leading national provider of solar and storage energy subscription offerings, making our clean energy services more accessible to even more communities.
2.
Robust storage offerings will enable a variety of grid services and grid reliability benefits.
3.
The solar energy systems that are operational are expected to generate a positive return rate over the term of the Customer Agreement, typically 20 or 25 years.
4.
In sum, we believe the electrification of the U.S. economy with renewable energy presents an unprecedented economic opportunity, as well as our country’s best path to achieving net zero emissions by 2050.
5.
This low cost of capital enables us to offer attractive pricing to our customers for the energy generated by the solar energy system on their homes.
6.
Additionally, we believe our omni-channel model and geographic reach provides us with the capabilities to execute on these opportunities in a variety of markets.
7.
These assets are attractive to fund investors due to the long-term, recurring nature of the cash flows generated by our Customer Agreements, the high credit scores of our customers, the fact that energy is a non-discretionary good and our low loss rates.
8.
Using our proprietary technology, we target homes with advantageous revenue and cost characteristics, which means we are often able to offer pricing that allows customers to save more on their energy bill while maintaining our ability to meet our targeted returns.
9.
We believe the electrification of U.S. households with renewable energy, and the accompanying development of an inter-connected, smart grid will provide a number of market opportunities beyond our traditional solar and battery storage offerings, including EV chargers, battery retrofits, re-powered or expanding systems, home energy management services, and other home electrification products.
10.
Revenue from solar energy systems sales increased by $442.6 million compared to the prior year primarily due to an overall increased demand for solar energy systems in the marketplace, particularly through retail partners.
11.
In addition, fund investors can receive attractive after-tax returns from our investment funds due to their ability to utilize 55Commercial ITCs, accelerated depreciation and certain government or utility incentives associated with the funds’ ownership of solar energy systems.
12.
Sunrun’s next goal and chapter of growth is to be the go-to company for clean 54energy and storage solutions, and reliable home electrification, providing our customers with affordable renewable energy throughout their homes and our communities with a cleaner, more resilient grid.
13.
Product sales increased by $112.4 million compared to the prior year primarily due to an overall increased demand for solar energy related products and services in the marketplace, and to a lesser extent, price increases on various solar products sold to resellers.
14.
Through these electrification, storage, and grid services opportunities, we aim to be the consumer brand synonymous with repowering our customers’ homes with renewable energy and providing a pathway to a cleaner, healthier future.
15.
For example, with the insights provided by our technology, we can offer competitive pricing to customers with homes that have favorable characteristics, such as roofs that allow for easy installation, high electricity consumption, or low shading, effectively passing through the cost savings we are able to achieve on these installations to the customer.
16.
In collaboration with grid managers, we can deploy our battery systems where they will add the most value for utilities, the grid, and customers.
17.
Through this partnership, customers in participating markets have the opportunity to install a solar and battery system on their home, enabling them to power their household with clean, affordable energy and charge their truck with the power of the sun.
18.
They will also play a crucial role in markets like California where time-of-use and net-billing policies mean that optimizing when power is consumed during the day is key to providing the most customer value.
19.
The Opportunity of Home Electrification and Storage Solutions to Build a Clean, Resilient GridThe United States is on the precipice of a once-in-a-generation transformation of our energy system.
20.
Factors that could cause or contribute to such differences include those identified below and those discussed in the section titled “Risk Factors” included elsewhere in this Annual Report on Form 10-K.We provide clean, solar energy to customers at a significant savings compared to traditional utility energy.
21.
The Cost of solar energy systems and product sales increased to 88% of solar energy systems and product sales revenue during 2022, when compared with 85% in the prior year period, primarily as a result of increased demand for solar energy related products and services in the marketplace.
22.
We are actively delivering demand response and capacity services to meet operational needs in multiple geographies, and partnering with grid managers to build a more resilient electricity system that integrates the new energy technologies customers want.
23.
Additionally, the average price of system sales increased 12% from the prior year period.
24.
We also believe that energy storage offerings will play an increasingly important role and be a key part of the customer value proposition.
25.
We also continue to pursue the development of our grid services business, creating virtual power plants that lead to a cleaner, more resilient grid.
26.
The $147.1 million increase in Revenue from Customer Agreements was primarily due to new systems placed in service in 2022 and a full year of revenue recognized in 2022 for systems placed in service in 2021 versus only a partial amount of such revenue related to the period in which the assets were in service in 2021.
Negative
1.
Our estimated production shortfall reduced revenue during the twelve months ended December 31, 2022 by less than $6.2 million more than the prior year's period.
2.
Factors that could impact Gross Earning Assets include, but are not limited to, customer payment defaults, or declines in utility rates or early termination of a contract in certain circumstances, including prior to installation.
3.
Throughout fiscal 2022, we observed market uncertainty, increasing inflationary pressures, supply constraints and the ongoing and rippling effects from the COVID-19 pandemic.
4.
Circumstances that could indicate impairment and require us to perform a quantitative impairment test include a significant decline in our financial results, a significant decline in our enterprise value relative to our net book value, a sustained decline in our stock price, or an unanticipated change in competition or our market share and a significant change in our strategic plans.
5.
Factors that we consider in deciding when to perform an impairment review would include significant negative industry or economic trends, and significant changes or planned changes in our use of the assets.
6.
We face global macroeconomic challenges, particularly in light of increases and volatility in interest rates, uncertainty in markets, inflationary trends, navigating complex and evolving regulatory and tax frameworks, and the dynamics of the global trade environment.
7.
Changes in economic conditions could result in higher interest rates, thereby increasing our interest expense and operating expenses and reducing funds available for capital investments, operations and other purposes.
8.
If financing is not available to us on acceptable terms if and when needed, we may be required to reduce planned spending, which could have a material adverse effect on our operations.
The management discussion contents above are extracted from this specific SEC Edgar 10-K filling, with report date as 2022-12-31 and filed on 2023-02-22. The process is fully automated and without human validation. Although we make every effort getting the relevant information, please be advised that We make no representation or warranties of any kind about completeness, accuracy, reliability, suitability or availability of the information exacted from Edgar 10-K/10-Q filings.
Stock Chart

Short Volume Ratio = Short Volume / All Volume. Source of Short Volume data comes from 

Finra

Moving Average Convergence/Divergence oscillator (MACD) is one of the simplest and most effective momentum indicators available.

Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. According to Wilder, RSI is considered overbought when above 70 and oversold when below 30.

Related Peers

POWI4.60%
PXLW7.10%
leak data

Stock news

    05/23/2023RUN
    Down More Than 50%: These 3 Beaten-Down Stocks Could Stage a Strong Rebound, Analysts Say

    Wilt Chamberlain holds the NBA record for career rebounds, with 23,924 in total, or 22.9 per game, for a truly great sustained performance. But rebounds don’t only come in basketball, and a savvy investor, while not likely to pick up 23,924 rebounding stock transactions, can still find plenty of stocks that are primed for rebounds in the current market environment. That environment, with headwinds still in play making every shot more difficult, has left plenty of fundamentally sound stocks under

    05/8/2023RUN
    10 Biggest Solar Companies

    With JinkoSolar Holding Co. leading the pack, these are the 10 biggest solar companies by 12-month trailing revenue.

    05/6/2023RUN
    Sunrun's Numbers Don't Add Up

    Sunrun (NASDAQ: RUN) reported earnings this week, which should cause some alarms for investors. The value that management claims to have generated may be evaporating before our eyes. In the video below, Travis Hoium digs into the numbers and Sunrun's rosy assumptions.

    05/4/2023RUN
    Sunrun, SunPower Slump After Marketing Expenses Led to Losses

    (Bloomberg) -- Rooftop solar companies SunPower Corp. and Sunrun Inc. posted higher-than-expected sales in the first-quarter as homeowners in California rushed to snap up panels before a cut in a key state solar subsidy. But the sales rush cost a lot in marketing, and now many customers are facing a months-long wait for new installations.Most Read from BloombergZelenskiy Denies Ukraine Sent Drones to Hit Putin, KremlinTD, First Horizon End $13 Billion Merger as Regulators StallChina Takes the Yu

    05/4/2023RUN
    Q1 2023 Sunrun Inc Earnings Call

    Q1 2023 Sunrun Inc Earnings Call

    05/3/2023RUN
    Sunrun Sees Business Surge as Consumers Try to Beat New California Solar Rules

    The company has figured out how to overcome issues that have plagued other solar firms in recent months, including less-favorable government policies and high interest rates, CEO Mary Powell told Barron’s.

    05/3/2023RUN
    Sunrun Reports First Quarter 2023 Financial Results

    Solar Energy Capacity Installed of 240 Megawatts, exceeding the high-end of guidance Net Subscriber Value of $12,000, exceeding guidance Sales activities growing over 30% year-over-year in Q1, with over 80% growth in California Launched Sunrun Shift™ offering in California, sales activities increasing significantly in recent weeks Annual Recurring Revenue now $1.1 billion with Average Contract Life Remaining of 17.6 years Networked Solar Energy Capacity of 5.9 Gigawatts SAN FRANCISCO, May 03, 20

    05/1/2023RUN
    Solar Stocks Have Fallen Sharply. Investors Need to Be Picky.

    Solar panel sales are being pressured by higher interest rates plus California's decision to reduce the financial benefits for installing roof panels.

    04/30/2023RUN
    3 Stocks to Buy as the World Moves Toward Decarbonization

    The move toward decarbonization and the global transition to renewable energy sources is accelerating. According to the International Energy Agency (IEA), renewable power sources will surpass coal to become the world’s biggest source of electricity generation by early 2025. That makes now a great time to consider buying the best green energy stocks. Furthermore, according to Allied Market Research, the global renewable energy market is forecast to reach $1.98 trillion by 2030 as investments in w

    04/28/2023RUN
    Sunrun (RUN) Stock Sinks As Market Gains: What You Should Know

    Sunrun (RUN) closed the most recent trading day at $21.04, moving -1.45% from the previous trading session.

scroll to load more