Sunrun Inc. reported $34 million in Cash Generation for the fourth quarter of 2024, marking its third consecutive quarter of positive cash flow, following safe harbor equipment purchases. For the full year 2024, total revenue was $2,037.7 million, a 10% decrease from 2023, primarily due to a 50% decline in Solar Energy Systems and Product Sales revenue, offset by a 27% increase in Customer Agreements and Incentives revenue.
The company recorded a net loss attributable to common stockholders of $2,846.2 million, or $12.81 per share, for the full year 2024, which included a $3.1 billion non-cash goodwill impairment charge. Excluding this impairment, non-GAAP net income was $333.7 million, or $1.33 per diluted share. Sunrun paid down $132 million of recourse debt in Q4, bringing the total reduction to $186 million since March.
Storage Capacity Installed in Q4 grew 78% year-over-year to 392 Megawatt hours, with storage attachment rates reaching 62%. For full-year 2025, Sunrun guided for Cash Generation between $200 million and $500 million, and expects Solar Energy Capacity Installed to be approximately flat year-over-year, while anticipating robust growth in Storage Capacity Installed.
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