S
SunPower Inc.
SPWRCIK 0001838987NasdaqEmerging GrowthConstruction - Special Trade ContractorsDelawareFY ends Dec 29
Period
FY 2025
Revenue
$300.00M
Net Income
$-45.35M
Total Assets
$241.19M
Equity
$-90.14M
Shares Out
146.30M
Op. Cash Flow
$-15.33M
Business
SunPower Inc. is a residential solar energy company that sells and installs solar systems to homeowners, home builders, and small to medium-sized commercial customers. The company operates through a network of sales partners and builder partners, providing design, engineering, permitting, and installation services, along with financing options and battery storage offerings. SunPower serves U.S. residential and commercial markets through both third-party sales channels and in-house installation capabilities, supported by proprietary software platforms for order management and project fulfillment.
Summary from 10-K filed 2026-04-14
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | 300 | 109 | 88 | 66 | — | |
| Cost of revenues | 171 | 69 | 70 | 47 | — | |
| Gross profit | 129 | 40 | 18 | 20 | — | |
| Sales commissions | 37 | 25 | 31 | 21 | — | |
| Sales and marketing | 29 | 7 | 7 | — | — | |
| General and administrative | 90 | 77 | 32 | 14 | — | |
| Total operating expenses | 156 | 108 | 70 | 41 | — | |
| Loss from continuing operations | −27 | −69 | −52 | −21 | −4 | |
| Interest expense | −25 | −16 | −14 | — | — | |
| Interest income | 3,000 | 19,000 | 36,000 | 5,000 | 105,681 | |
| Other non-operating income , net | 9 | 8 | −30 | −2 | — | |
| Gain on troubled debt restructuring | — | 22 | — | — | — | |
| Total Other (expense) income, net | −16 | 14 | −44 | −7 | 9 | |
| Loss from continuing operations before income taxes | −43 | −54 | −96 | −28 | — | |
| Income tax (provision) | −2 | — | 20,000 | −27,000 | — | |
| Net loss from continuing operations | −44 | −54 | −96 | −28 | — | |
| Net loss from discontinued operations, net of taxes | −1 | −2 | −173 | −1 | — | |
| Net loss | −45 | −56 | −270 | −29 | 5 | |
| Comprehensive loss (net of tax) | −45 | −56 | −269 | −29 | — | |
| Net loss from continuing operations per share attributable to common stockholders, basic (in Dollars per share) | −0.51 | −0.82 | −3.89 | −1.24 | — | |
| Net loss from discontinued operations per share attributable to common stockholders, basic (in Dollars per share) | −0.01 | −0.03 | −1.05 | −0.07 | — | |
| Net loss per share attributable to common stockholders, basic (in Dollars per share) | −0.52 | −0.85 | −4.94 | −1.31 | — | |
| Weighted-average shares used to compute net loss per share attributable to common stockholders, basic (in Shares) | 87 | 67 | 25 | 23 | — | |
| Net loss from continuing operations per share attributable to common stockholders, diluted (in Dollars per share) | −0.51 | −1.19 | −3.89 | −1.24 | — | |
| Net loss per share attributable to common stockholders, diluted (in Dollars per share) | −0.52 | −1.22 | −4.94 | −1.31 | — | |
| Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted (in Shares) | 87 | 76 | 25 | 23 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 10 | 13 | 3 | 4 | 277,583 | |
| Trade accounts receivable, net of allowance for credit losses of $5,206 and $1,701 as of December 28, 2025 and December 29, 2024, respectively | 68 | 26 | — | — | — | |
| Inventories | 4 | 22 | 3 | 13 | — | |
| Prepaid expenses and other current assets | 17 | 8 | 6 | 10 | — | |
| Contract assets, current portion | 14 | 26 | — | — | — | |
| Total current assets | 113 | 96 | 38 | 55 | 1 | |
| Restricted cash | 4 | 4 | 4 | 4 | — | |
| Property and equipment, net | 5 | 5 | 4 | 3 | — | |
| Operating lease right-of-use assets | 5 | 3 | 1 | 2 | — | |
| Other noncurrent assets | 2 | 628,000 | 198,000 | 1 | — | |
| Goodwill | 63 | 18 | — | — | — | |
| Intangible assets, net | 51 | 17 | — | — | — | |
| Total assets | 241 | 144 | 47 | 228 | 346 | |
| Accounts payable | 26 | 8 | 13 | 14 | — | |
| Accrued expenses and other current liabilities | 57 | 56 | 28 | 20 | — | |
| Short-term debt with related parties | 22 | 2 | 33 | — | — | |
| Current portion of long-term notes payable | 3 | — | — | — | — | |
| Deferred consideration, current with related party | 17 | — | — | — | — | |
| Deferred consideration, current | 5 | — | — | — | — | |
| Contract liabilities, current portion | 20 | 10 | 2 | — | — | |
| SAFE Agreement with related party | 535,000 | 384,000 | — | — | — | |
| Forward purchase agreement liabilities with related parties | — | 1 | 3 | — | — | |
| Forward purchase agreement liabilities | 4 | 2 | 599,000 | — | — | |
| Total current liabilities | 155 | 79 | 109 | 60 | 3 | |
| Warranty provision, noncurrent | 3 | 3 | 3 | — | — | |
| Warrant liability | 4 | 2 | 10 | — | — | |
| Contract liabilities, noncurrent | 794,000 | 918,000 | 1 | — | — | |
| Notes payable and derivative liabilities | 120 | 93 | — | — | — | |
| Deferred income taxes | 1 | — | — | — | — | |
| Deferred consideration, noncurrent with related party | 5 | — | — | — | — | |
| Other long-term liabilities | 6 | 11 | — | 3 | — | |
| Total liabilities | 331 | 242 | 124 | 123 | 23 | |
| Commitments and contingencies (Note 12) | — | — | — | — | — | |
| Common stock, $0.0001 par value; Authorized 1,000,000,000 shares as of December 28, 2025 and December 29, 2024; issued and outstanding 111,334,959 and 73,784,645 shares as of December 28, 2025 and December 29, 2024, respectively | 16,000 | 14,000 | 7,000 | 3,000 | — | |
| Additional paid-in capital | 366 | 314 | 278 | — | — | |
| Accumulated other comprehensive loss | 165,000 | 165,000 | 143,000 | 27,000 | — | |
| Accumulated deficit | −457 | −411 | −355 | −85 | −22 | |
| Total stockholders (deficit) | −90 | −98 | −77 | 105 | −21 | |
| Total liabilities and stockholders (deficit) | 241 | 144 | 47 | 228 | 346 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation expense | 10 | 3 | 3 | 433,000 | — | |
| Non-cash lease expense | 1 | 816,000 | 947,000 | 468,000 | — | |
| Depreciation and amortization | 9 | 3 | 930,000 | 648,000 | — | |
| Amortization of debt issuance costs | 15 | 6 | — | — | — | |
| Deferred income tax provision | 1 | — | — | — | — | |
| Provision for credit losses | 4 | 9 | 4 | 2 | — | |
| Change in fair value of SAFE Agreements with related party | 151,000 | −616,000 | — | — | — | |
| Loss on conversion of SAFE Agreements to shares of common stock with related party | — | 1 | — | — | — | |
| Change in fair value of deferred consideration | −560,000 | — | — | — | — | |
| Loss on issuance of derivative liability | — | 25 | — | — | — | |
| Change in fair value of derivative liabilities | −11 | −34 | — | — | — | |
| Change in fair value of warrant liabilities | 3 | −3 | −29 | 5 | — | |
| Change in fair value of forward purchase agreement liabilities | 471,000 | −337,000 | 4 | — | — | |
| Non-cash expense in connection with warrants issued for vendor services | — | 9 | — | — | — | |
| Loss on impairments and disposals | 113,000 | 4 | — | — | — | |
| Non-cash income | −628,000 | — | — | — | — | |
| Non-cash interest expense | — | 2 | 5 | 5 | — | |
| Gain on troubled debt restructuring | — | −22 | 10 | −3 | — | |
| Accretion of debt in CS Solis | — | 4 | — | — | — | |
| Other financing costs | — | 450,000 | — | — | — | |
| Accounts receivable | −39 | 3 | −12 | −10 | — | |
| Contract assets, current portion | 8 | −21 | −2 | — | — | |
| Inventories | 38 | 9 | 2 | −5 | — | |
| Prepaid expenses and other current assets | −5 | −170,000 | −4 | 2 | — | |
| Other noncurrent assets | −664,000 | 111,000 | 1 | −1 | — | |
| Accounts payable | 15 | −10 | 2 | 3 | 3 | |
| Accrued expenses and other current liabilities | −16 | 14 | −3 | −1 | — | |
| Operating lease liabilities | −2 | −849,000 | −598,000 | −617,000 | — | |
| Warranty provision, noncurrent | −378,000 | 21,000 | 255,000 | 157,000 | — | |
| Contract liabilities | −3 | 82,000 | −2 | 1 | — | |
| Net cash used in operating activities from continuing operations | −15 | −55 | −59 | −32 | −2 | |
| Capitalization of internal-use-software costs | — | −1 | — | — | — | |
| Cash paid for acquisitions; net of cash acquired | −19 | −54 | — | 5 | — | |
| Net cash used in investing activities from continuing operations | −19 | −55 | 6 | 3 | −345 | |
| Proceeds from issuance of convertible notes, net of issuance cost | 20 | 82 | — | — | — | |
| Proceeds from issuance of convertible notes to related parties | 7 | 26 | — | — | — | |
| Payment of debt issuance costs | −200,000 | — | — | — | — | |
| Proceeds from issuance of SAFE agreements with related party | — | 6 | — | — | — | |
| Proceeds from issuance of common stock | 7 | 7 | 5 | — | — | |
| Proceeds from exercise of common stock options | 480,000 | 532,000 | 5 | 128,000 | — | |
| Proceeds from exercise of warrant for common stock | 60,000 | — | — | — | — | |
| Investor financing deposit related party | 2 | — | — | — | — | |
| Taxes paid related to net share settlement of equity awards | −727,000 | — | — | — | — | |
| Principal repayment of notes payable | −2 | −300,000 | −10 | −10 | — | |
| Financing lease payments | −2 | −551,000 | — | — | — | |
| Net cash provided by financing activities from continuing operations | 31 | 120 | 50 | 31 | 347 | |
| Effect of exchange rate changes on cash | — | 22,000 | — | — | — | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | −4 | 11 | −2 | 3 | — | |
| Cash paid during the year for interest | 8 | 77,000 | 2 | 162,000 | — | |
| Cash paid during the year for income taxes | — | 10,000 | — | 6,000 | — | |
| Issuance of Seller Note as partial purchase consideration for acquisition of Sunder(8) | 20 | — | — | — | — | |
| Issuance of common stock as partial consideration for acquisition of Sunder | 6 | — | — | — | — | |
| Deferred consideration recognized for acquisition of Sunder | 11 | — | — | — | — | |
| Issuance of common stock as partial purchase consideration for acquisition of Ambia | 16 | — | — | — | — | |
| Deferred consideration recognized for acquisition of Ambia | 17 | — | — | — | — | |
| September 2024 Notes and related derivative liability, net of unamortized debt discount | 14 | — | — | — | — | |
| Accrued interest | 213,000 | — | — | — | — | |
| Common stock | 1,000 | — | — | — | — | |
| Debt issuance costs incurred in connection with the issuance of September 2025 Notes | 1 | — | — | — | — | |
| Taxes accrued but unpaid related to net share settlement of equity awards | 1 | — | — | — | — | |
| Cancellation of existing indebtedness in Exchange Agreement | — | 66 | — | — | — | |
| Issuance of convertible notes in Exchange Agreement | — | 43 | — | — | — | |
| Issuance of common stock in Exchange Agreement | — | 2 | — | — | — | |
| Conversion of SAFE Agreements to shares of common stock related party | — | 5 | — | — | — | |
| Operating lease right-of-use assets obtained in exchange for new operating lease liabilities | — | 116,000 | — | 245,000 | — | |
| Offering costs | — | 1 | — | — | — | |
| Warrants issued in debt issuance | — | 860,000 | — | — | — | |
| Carlyle Warrant modification related party | — | 7 | 11 | — | — |
Filings
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Frequently asked questions
What is SunPower Inc.'s CIK number?
SunPower Inc.'s SEC CIK number is 0001838987 (1838987). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find SunPower Inc.'s SEC filings?
All of SunPower Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did SunPower Inc. last report earnings?
SunPower Inc. (SPWR) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001213900-26-054740). This is SunPower Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is SunPower Inc.'s most recent earnings 8-K?
SunPower Inc.'s latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001213900-26-054740. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View SunPower Inc.'s latest earnings 8-K →
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