Sunrun (RUN) AI Stock Analysis

Company Guidance

Sunrun reiterated its full‑year 2026 guidance and expects cash generation of $250 million to $450 million (excluding roughly $50 million–$100 million of equipment safe‑harbor investments); in Q1 the company reported cash generation of negative $59 million (negative $31 million excluding $28 million of safe‑harbor spend), added ~19,000 customers with a 73% storage attachment rate (up 2 points sequentially) and average system sizes up 5% Q/Q, and delivered aggregate subscriber value of ~$1.1 billion (Danny reported aggregate contracted subscriber value of $980 million) with contracted net value creation of $108 million (Danny reported upfront net value creation of $91 million, ~9% of contracted value), aggregate creation costs of $872 million, upfront net subscriber value of $5,136 per customer, repaid $92 million of recourse debt to finish the quarter with $680 million of unrestricted cash and $626 million of parent recourse debt, raised $774 million of non‑recourse asset‑level debt YTD, priced a $584 million securitization tranche at +220 bps, has closed/term‑sheeted capacity to fund ~1,000 MW of projects plus >$675 million in unused warehouse commitments to fund >250 MW, and monetized ~23% of Q1 subscribers through non‑retained/partially retained structures.