Sunrun Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
RUN$8.71-10.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net loss | $(283,150) | $(335,773) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization, net of amortization of deferred grants | 150,520 | 123,105 |
| Deferred income taxes | (2,202) | (59,613) |
| Stock-based compensation expense | 28,869 | 28,266 |
| Interest on pass-through financing obligations | 4,756 | 4,862 |
| Reduction in pass-through financing obligations | (9,335) | (9,641) |
| Unrealized (gain) loss on derivatives | (55,103) | 30,721 |
| Other noncash items | 14,639 | 27,366 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (1,371) | (9,385) |
| Inventories | 47,753 | (103,986) |
| Prepaid expenses and other assets | (135,678) | (109,454) |
| Accounts payable | 59,641 | (1,428) |
| Accrued expenses and other liabilities | 3,395 | (26,776) |
| Deferred revenue | 34,173 | 2,413 |
| Net cash used in operating activities | (143,093) | (439,323) |
| Investing activities: | ||
| Payments for the costs of solar energy systems | (538,975) | (506,314) |
| Purchases of property and equipment, net | 3,531 | (3,996) |
| Net cash used in investing activities | (535,444) | (510,310) |
| Financing activities: | ||
| Proceeds from state tax credits, net of recapture | — | 4,033 |
| Proceeds from line of credit | 139,805 | 143,331 |
| Repayment of line of credit | (292,305) | (96,236) |
| Proceeds from issuance of convertible senior notes, net of capped call transaction | 444,822 | — |
| Repurchase of convertible senior notes | (173,715) | — |
| Proceeds from issuance of non-recourse debt | 770,106 | 514,880 |
| Repayment of non-recourse debt | (431,532) | (50,968) |
| Payment of debt fees | (47,779) | (733) |
| Proceeds from pass-through financing and other obligations, net | 1,808 | 2,004 |
| Repayment of pass-through financing obligation | (20,000) | — |
| Payment of finance lease obligations | (6,732) | (4,477) |
| Contributions received from noncontrolling interests and redeemable noncontrolling interests | 164,337 | 397,750 |
| Distributions paid to noncontrolling interests and redeemable noncontrolling interests | (74,834) | (63,901) |
| Acquisition of noncontrolling interest | (1,159) | (7,175) |
| Proceeds from transfer of investment tax credits | 106,529 | — |
| Payments to redeemable noncontrolling interests and noncontrolling interests of investment tax credits | (106,529) | — |
| Net proceeds related to stock-based award activities | 1,056 | 1,328 |
| Net cash provided by financing activities | 473,878 | 839,836 |
| Net change in cash and restricted cash | (204,659) | (109,797) |
| Cash and restricted cash, beginning of period | 987,838 | 953,023 |
| Cash and restricted cash, end of period | $783,179 | $843,226 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for interest | $136,711 | $93,988 |
| Cash paid for income taxes | $— | $— |
| Supplemental disclosures of noncash investing and financing activities | ||
| Purchases of solar energy systems and property and equipment included in accounts payable and accrued expenses | $59,370 | $69,557 |
| Right-of-use assets obtained in exchange for new finance lease liabilities | $14,891 | $10,175 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.