v3.25.2

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenue:
Total revenue	$ 569,336	$ 523,866	$ 1,073,607	$ 982,054
Operating expenses:
Sales and marketing	152,459	151,657	298,449	303,921
Research and development	8,063	10,243	18,042	22,330
General and administrative	71,543	61,229	129,306	112,495
Total operating expenses	681,585	651,914	1,300,744	1,293,224
Loss from operations	(112,249)	(128,048)	(227,137)	(311,170)
Interest expense, net	(247,137)	(207,207)	(474,571)	(399,366)
Other (expense) income, net	(14,528)	64,378	(59,927)	154,308
Loss before income taxes	(373,914)	(270,877)	(761,635)	(556,228)
Income tax benefit	(94,930)	(10,949)	(205,480)	(13,150)
Net loss	(278,984)	(259,928)	(556,155)	(543,078)
Net loss attributable to noncontrolling interests and redeemable noncontrolling interests	(558,757)	(399,002)	(885,939)	(594,334)
Net income attributable to common stockholders	$ 279,773	$ 139,074	$ 329,784	$ 51,256
Net income per share attributable to common stockholders
Basic (in dollars per share)	$ 1.22	$ 0.63	$ 1.45	$ 0.23
Diluted (in dollars per share)	$ 1.07	$ 0.55	$ 1.28	$ 0.23
Weighted average shares used to compute net income per share attributable to common stockholders
Basic (in shares)	229,167	222,474	227,794	221,178
Diluted (in shares)	261,152	255,107	259,539	244,755
Customer agreements and incentives
Revenue:
Total revenue	$ 458,000	$ 387,825	$ 860,920	$ 710,792
Operating expenses:
Costs	345,376	298,665	654,005	568,199
Solar energy systems and product sales
Revenue:
Total revenue	111,336	136,041	212,687	271,262
Operating expenses:
Costs	$ 104,144	$ 130,120	$ 200,942	$ 286,279

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-11

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(2)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(2)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

Sunrun Inc. 10-Q