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$0.23-3.6%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
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands except share and per share amounts)
| Thirteen Weeks Ended | Thirty-Nine Weeks Ended | |||
|---|---|---|---|---|
| September 28, | September 29, | September 28, | September 29, | |
| 2025 | 2024 | 2025 | 2024 | |
| Revenues (1) | $70,005 | $5,536 | $220,269 | $20,068 |
| Cost of revenues | 37,965 | 8,693 | 126,970 | 21,834 |
| Gross profit (loss) | 32,040 | (3,157) | 93,299 | (1,766) |
| Operating expenses: | ||||
| Sales commissions | 7,534 | 7,270 | 24,273 | 11,691 |
| Sales and marketing | 6,467 | 1,093 | 21,764 | 3,762 |
| General and administrative | 21,483 | 18,450 | 52,382 | 29,789 |
| Total operating expenses | 35,484 | 26,813 | 98,419 | 45,242 |
| Loss from continuing operations | (3,444) | (29,970) | (5,120) | (47,008) |
| Interest expense (2) | (8,104) | (2,338) | (23,258) | (8,230) |
| Interest income | — | 86 | 3 | 102 |
| Other expense, net (3) | (4,256) | (65,684) | (1,724) | (66,234) |
| Gain on extinguishment of debt | — | 19,948 | — | 19,948 |
| Total other expense, net | (12,360) | (47,988) | (24,979) | (54,414) |
| Loss from continuing operations before income taxes | (15,804) | (77,958) | (30,099) | (101,422) |
| Income tax (provision) | — | — | — | (11) |
| Net loss from continuing operations | (15,804) | (77,958) | (30,099) | (101,433) |
| Loss from discontinued operations, net of tax | (1,100) | — | (1,100) | (2,007) |
| Net loss from discontinued operations, net of taxes | (1,100) | — | (1,100) | (2,007) |
| Net loss | (16,904) | (77,958) | (31,199) | (103,440) |
| Other comprehensive income: | ||||
| Foreign currency translation adjustment | — | — | — | 22 |
| Comprehensive loss (net of tax) | $(16,904) | $(77,958) | $(31,199) | $(103,418) |
| Net loss from continuing operations per share attributable to common stockholders, basic and diluted | $(0.19) | $(1.03) | $(0.37) | $(1.64) |
| Net loss from discontinued operations per share attributable to common stockholders, basic and diluted | (0.01) | — | (0.01) | (0.03) |
| Net loss per share attributable to common stockholders, basic and diluted | $(0.20) | $(1.03) | $(0.38) | $(1.67) |
| Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted | 84,904,228 | 75,348,627 | 82,036,790 | 61,868,747 |
| (1) | Revenue is net of dealer fees attributable to related party of $0.3 million and $1.6 million in the thirteen and thirty-nine week periods ended September 28, 2025, respectively. Revenue is net of dealer fees attributable to related party of $1.6 million in each of the thirteen and thirty-nine week periods ended September 29, 2024. Refer to Note 16 – Related Party Transactions for details. |
| (2) | Includes related party interest expense and amortization of debt issuance costs of $1.8 million and $1.5 million in the thirteen week periods ended September 28, 2025, and September 29, 2024, respectively. Includes related party interest expense and amortization of debt issuance costs of $5.4 million and $5.6 million in the thirty-nine weeks periods ended September 28, 2025, and September 29, 2024, respectively. |
| (3) | Includes the following related party transactions (in millions): |
| Thirteen Weeks Ended | Thirty-Nine Weeks Ended | |||
|---|---|---|---|---|
| September 28, 2025 | September 29, 2024 | September 28, 2025 | September 29, 2024 | |
| Loss on issuance of derivative liabilities | $— | $(3.0) | $— | $(3.0) |
| (Loss) gain on remeasurement of derivative liabilities (Note 9 – Borrowings and Derivative Liabilities) | (0.3) | (22.8) | 1.8 | (22.8) |
| Gain (loss) due to change in fair value of Forward Purchase Agreements | — | 2.8 | 0.1 | 1.8 |
| Loss on conversion of SAFE Agreements to common stock | — | — | — | (1.3) |
| Change in fair value of SAFE Agreement | (0.1) | (0.9) | (0.1) | (0.9) |
| (Loss) gain due to change in fair value of Carlyle warrants | — | — | — | 2.9 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.