Summary by Moomoo AI
Sunrun, the leading provider of residential solar, storage, and energy services in the United States, has released its financial results for the quarter ending June 30, 2024. The company reported a net loss of $259.9 million, a decrease from the $340.7 million loss in the same quarter the previous year. Despite the net loss, Sunrun's revenue from customer agreements increased by 30% year-over-year to $358.1 million, driven by new systems placed in service. However, total revenue decreased by 11% to $523.9 million due to a significant drop in solar energy systems and product sales, which fell by 73% and 6% respectively. Operating expenses saw a reduction, with sales and marketing expenses decreasing by 22% due to lower headcount and customer acquisition costs. The company's operating loss improved...Show More