SunPower Inc. Segments Disclosure
(17) Segment Information
| Fiscal Year Ended December 28, 2025 | ||||||||||||||||
| (in thousands) | Residential Solar Installation | New Homes Business | Dealer | Total | ||||||||||||
| Operating revenues | $ | 160,987 | $ | 124,595 | $ | 14,418 | $ | 300,000 | ||||||||
| Less: | ||||||||||||||||
| Cost of revenues (1) | 88,400 | 82,288 | 100 | |||||||||||||
| Sales commissions | 26,298 | 5,032 | 5,679 | |||||||||||||
| Sales and marketing | 25,154 | 3,253 | 623 | |||||||||||||
| General and administrative (1) | 58,597 | 29,648 | 1,859 | |||||||||||||
| Segment operating income (loss) | (37,462 | ) | 4,374 | 6,157 | (26,931 | ) | ||||||||||
| Reconciliation of segment income (loss) from continuing operations before income taxes: | ||||||||||||||||
| Unallocated amounts: | ||||||||||||||||
| Interest expense | (25,095 | ) | ||||||||||||||
| Interest income | 3 | |||||||||||||||
| Other non-operating income, net | 9,347 | |||||||||||||||
| Loss from continuing operations before taxes | $ | (42,676 | ) | |||||||||||||
| (1) | For the year ended December 28, 2025, depreciation and amortization expense was as follows |
| (in millions) | Residential Solar Installation | New Homes Business | Dealer | Total | ||||||||||||
| Depreciation and amortization classified in: | ||||||||||||||||
| Cost of revenues | $ | 2.0 | $ | 0.1 | $ | 0.1 | $ | 2.2 | ||||||||
| General and administrative | 5.3 | 0.8 | 0.9 | 7.0 | ||||||||||||
| Total | $ | 7.3 | $ | 0.9 | $ | 1.0 | $ | 9.2 | ||||||||
| Fiscal Year Ended December 29, 2024 | ||||||||||||
| (in thousands) | Residential Solar Installation | New Homes Business | Total | |||||||||
| Operating revenues | $ | 67,460 | $ | 41,282 | $ | 108,742 | ||||||
| Less: | ||||||||||||
| Cost of revenues | 45,266 | 23,974 | ||||||||||
| Sales commissions | 23,388 | 1,202 | ||||||||||
| Sales and marketing | 6,827 | |||||||||||
| General and administrative(1) | 57,641 | 18,953 | ||||||||||
| Segment operating (loss) | (65,662 | ) | (2,847 | ) | (68,509 | ) | ||||||
| Reconciliation of segment loss from continuing operations before income taxes: | ||||||||||||
| Unallocated amounts: | ||||||||||||
| Interest expense | (16,223 | ) | ||||||||||
| Interest income | 19 | |||||||||||
| Other non-operating income, net | 7,932 | |||||||||||
| Gain on troubled debt restructuring | 22,337 | |||||||||||
| Loss from continuing operations before taxes | $ | (54,444 | ) | |||||||||
| (1) | For the year ended December 29, 2024, depreciation and amortization expense was $2.6 million and $0.1 million for the Residential Solar Installation and New Homes Business reportable segments, respectively. |
| (2) | General corporate expense represents costs primarily legacy costs that were not expected to be ongoing subsequent to the acquisition of the SunPower Businesses. |
The Company recast its general and administrative expenses within results of operations by reportable segment for the fiscal year ended December 29, 2024 to conform to the fiscal 2025 presentation. In fiscal 2024, the Company allocated those costs which were specifically associated with the specific reportable segment with the remainder being presented as unallocated. Beginning in fiscal 2025, the Company changed its method to an allocation of general and administrative costs based upon relative revenue of each reportable segment consistent with the presentation of fiscal 2025 results segment results of operations.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Apr 14, 2026 | Showing above |
| 2024 | Apr 30, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.