SunPower Inc.
For the period ended Sep 28, 2025. Filed Dec 19, 2025.
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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.
Sep 28, 2025 · Filed Dec 19, 2025
SPWR$0.24-11.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Balance Sheets
(in thousands except share and per share amounts)
| September 28, | December 29, | |
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $5,072 | $13,378 |
| Accounts receivable, net | 80,753 | 51,908 |
| Inventories | 8,694 | 22,110 |
| Prepaid expenses and other current assets | 20,830 | 8,206 |
| Total current assets | 115,349 | 95,602 |
| Restricted cash | 3,841 | 3,841 |
| Property and equipment, net | 3,670 | 5,493 |
| Operating lease right-of-use assets | 2,528 | 3,041 |
| Intangible assets, net | 38,956 | 17,385 |
| Goodwill | 42,911 | 18,476 |
| Other noncurrent assets | 1,085 | 628 |
| Total assets | $208,340 | $144,466 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| Current liabilities: | ||
| Accounts payable | $19,857 | $7,980 |
| Accrued expenses and other current liabilities (1) | 59,271 | 56,081 |
| Notes payable to related parties | 21,500 | 1,500 |
| Contract liabilities | 9,713 | 10,003 |
| SAFE Agreement with related party | 497 | 384 |
| Forward purchase agreement liabilities with related parties | — | 1,274 |
| Forward purchase agreement liabilities | 4,301 | 2,220 |
| Total current liabilities | 115,139 | 79,442 |
| Warranty provision, noncurrent | 2,140 | 3,437 |
| Warrant liability | 4,683 | 1,561 |
| Contract liabilities, noncurrent | 1,713 | 918 |
| Notes payable and derivative liabilities, net of current | 148,205 | 92,638 |
| Notes payable and derivative liabilities with related parties, net of current | 34,572 | 53,193 |
| Operating lease liabilities, net of current portion | 1,335 | 2,263 |
| Other long-term liabilities | 12,869 | 8,553 |
| Total liabilities | 320,656 | 242,005 |
| Commitments and contingencies (Note 12) | ||
| Stockholders’ (deficit): | ||
| Common stock, $0.0001 par value; Authorized 1,000,000,000 shares as of September 28, 2025, and December 29, 2024; issued and outstanding 89,167,963 and 73,784,645 shares as of September 28, 2025, and December 29, 2024, respectively. | 14 | 14 |
| Additional paid-in capital | 330,083 | 313,661 |
| Accumulated other comprehensive income | 165 | 165 |
| Accumulated deficit | (442,578) | (411,379) |
| Total stockholders’ (deficit) | (112,316) | (97,539) |
| Total liabilities and stockholders’ (deficit) | $208,340 | $144,466 |
| (1) | Includes accrued interest due to related parties of $1.2 million and $2.2 million as of September 28, 2025, and December 29, 2024, respectively. |
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