SunPower Inc.
1.9400-0.10 (-4.9%)
Oct 28, 4:00:00 PM EDT · NasdaqGM · SPWR · USD
Key Stats
Market Cap
167.70MP/E (TTM)
-Basic EPS (TTM)
-0.94Dividend Yield
0%Recent Filings
8-K
10-Q
Q2 FY2025 results
Complete Solaria posted Q2 revenue of $67.5M, up 1,403% y/y from $4.5M, fueled by the SunPower acquisition that added the New Homes Business segment contributing $30.1M while Residential Solar Installation grew 733% y/y to $37.4M; gross margin swung to 43% from -20% y/y, reflecting scale efficiencies. Yet operating loss narrowed to $2.7M from $9.5M y/y, though net loss widened to $22.4M from $13.9M y/y, driven by $7.7M interest expense and $12.0M other expense from derivative fair-value changes exceeding operating loss by over 20% due to remeasurements of convertible note derivatives and warrants. Cash dipped to $11.1M from $13.4M at year-end, with operating cash use at $7.1M YTD; total debt stands at $152.9M including $1.5M related-party note maturing 2029 at variable rates, no revolver availability disclosed. The SunPower deal closed September 2024 for $54.5M cash, recognizing $19.8M goodwill and $18.1M finite-lived intangibles amortized over undisclosed lives. Revenue momentum builds, but supply chain disruptions pose a key risk.
8-K
FPA Amendment Extends Valuation
Complete Solaria amended its OTC Equity Prepaid Forward Transaction with Polar Multi-Strategy Master Fund on August 1, 2025, extending the valuation date to July 17, 2026, or earlier upon triggers like VWAP shortfalls or delisting. The deal caps potential liability at $2.00 per share, payable in cash or shares at the company's option, while Polar retains the prepayment without remitting any settlement. This tweak buys time amid stock volatility. Settlement hinges on future prices.
8-K
CFO resigns; interim appointed
Complete Solaria announced CFO Daniel Foley's resignation on July 22, 2025, effective immediately. Jeanne Nguyen, the company's corporate controller since the SunPower acquisition in September 2024, steps in as interim CFO and principal financial officer. With 23 years in accounting and finance, including prior roles at SunPower and PwC, Nguyen ensures continuity amid the leadership shift. No related arrangements or conflicts disclosed.
8-K
Q2 Profit Amid Revenue Dip
SunPower reported preliminary Q2 2025 revenue of $67.5 million, down from $82.7 million in Q1 amid a sharp ITC subsidy freeze, yet non-GAAP operating profit held steady at $2.4 million through aggressive cost cuts slashing expenses by $4.6 million and boosting gross margin to 43%. Headcount trimmed to 861, with bookings signaling recovery. Cost reductions persist, but integration risks loom.
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