SunPower Inc (SPWR)
NASDAQ:SPWR
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SunPower Inc
(NASDAQ:SPWR)
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Rating:51Neutral
Price Target:
$1.00
▼(-18.70% Downside)
Action:ReiteratedDate:04/15/26
The score is held back primarily by weak financial fundamentals (negative equity, rising debt, and negative free cash flow) and a still-bearish technical setup (below key moving averages with negative MACD). Offsetting factors include improving operating momentum and constructive guidance from the latest call, plus supportive liquidity/reporting actions and financing approvals, though these also come with dilution and funding-dependence risk.
Positive Factors
Improving operating profitability
Four consecutive quarters of operating profit and a record Q4 operating income demonstrate the company is moving from loss-making toward structural operating break-even. Sustained positive operating income reduces reliance on financing and indicates durable improvements in cost control and execution across its combined operations.
Negative Factors
Weak balance sheet
Persistently negative shareholders’ equity and rising debt materially weaken financial flexibility and increase refinancing risk. This capital-structure impairment constrains ability to absorb shocks, raises cost of capital, and limits strategic optionality across the 2–6 month horizon and beyond unless materially repaired.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving operating profitability
Four consecutive quarters of operating profit and a record Q4 operating income demonstrate the company is moving from loss-making toward structural operating break-even. Sustained positive operating income reduces reliance on financing and indicates durable improvements in cost control and execution across its combined operations.
Read all positive factors
SunPower Inc (SPWR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$143.45M
Dividend YieldN/A
Average Volume (3M)1.41M
Price to Earnings (P/E)―
Beta (1Y)1.87
Revenue Growth657.27%
EPS GrowthN/A
CountryUS
Employees600
SectorTechnology
Sector Strength88
IndustrySolar
Share Statistics
EPS (TTM)-0.01
Shares Outstanding119,540,700
10 Day Avg. Volume1,803,841
30 Day Avg. Volume1,406,925
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)-1.52
Price to Sales (P/S)0.44
P/FCF Ratio-8.92
Enterprise Value/Market Cap1.89
Enterprise Value/Revenue0.88
Enterprise Value/Gross Profit1.81
Enterprise Value/Ebitda-73.86
Forecast
1Y Price Target
$5.40Price Target Upside339.02% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.21
Revenue Forecast (FY)$422.50M
SunPower Inc Business Overview & Revenue Model
Company Description
SunPower, Inc. is a solar technology, services, and installation company. It offers sales enablement, project management, partner coordination, and customer communication. The company was founded William J. Anderson by in 2010 and is headquartered...
How the Company Makes Money
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SunPower Inc Earnings Call Summary
Earnings Call Date:Jan 20, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call emphasized clear operational momentum: record quarterly revenue and profit, rapid expansion of the sales force, material acquisitions (Sunder, Ambia, LOI for Cobalt) that contributed to growth, improved productivity (revenue per employee >$400k) and secured financing capacity (ELOC to $55M). Management acknowledged integration and reporting issues (late SEC filing, mixed financial systems), continuing margin targets (4% op margin vs. 10% goal), and near-term seasonality/ITC uncertainty that could pressure Q1. Overall, the positives—meaningful revenue and profit improvement, scalable sales capacity, product/technology initiatives and financing runway—outweigh the integration, reporting and margin challenges in the near term.Positive Updates
Record Q4 Revenue and Sequential Growth
Q4 revenue reached $88.5M, up ~26% quarter-over-quarter (from ~$70M). This drove a record quarter for the combined company and contributed to a 2025 full-year revenue of $308.8M.
Negative Updates
Low Operating Margin Relative to Target
Q4 operating margin was ~4% of revenue vs. management's 10% target, indicating significant room for margin improvement even though operating income was a record for the company.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Q4 Revenue and Sequential Growth
Q4 revenue reached $88.5M, up ~26% quarter-over-quarter (from ~$70M). This drove a record quarter for the combined company and contributed to a 2025 full-year revenue of $308.8M.
Read all positive updates
Company Guidance
Management guided that SunPower closed Q4 with record revenue of $88.5M (up 26% q/q from ~$70M) and record operating income of $3.545M (~4% margin), ended the quarter with $9.3M cash (up from $5.1M), added $4.3M of natural cash, increased its equity line to $55M, and carries roughly $8M of reserves after a $1.1M bad-debt reserve. For 2025 they reported $308.8M revenue and said Q1 FY26 revenue should be about $84M (a conservative ~4.4% q/q decline) with operating income expected to remain positive; they noted four consecutive profitable quarters, ~111M shares fully diluted, a minimum cash target of $10M and three funding deals in progress. Operationally they’ve nearly doubled 1099 sales reps from ~1,126 to ~2,000, maintain ~847 W‑2 employees (target ~820), achieved revenue/employee >$400k (breakeven ≈$285k, target $500k), and reiterated a plan to reach $1B revenue by 2028 (implying ~50% CAGR).SunPower Inc Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
18
Very Negative
Cash Flow
20
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 308.76M | 108.74M | 87.62M | 66.47M | 68.82M |
| Gross Profit | 149.79M | 39.50M | 17.79M | 19.83M | 28.69M |
| EBITDA | -3.66M | -35.48M | -81.25M | -22.36M | -7.10M |
| Net Income | -32.31M | -56.45M | -269.56M | -29.48M | -9.28M |
Balance Sheet | |||||
| Total Assets | 241.19M | 144.47M | 47.32M | 228.18M | 26.40M |
| Cash, Cash Equivalents and Short-Term Investments | 9.62M | 13.38M | 2.59M | 4.41M | 5.28M |
| Total Debt | 179.57M | 153.06M | 63.21M | 66.78M | 25.50M |
| Total Liabilities | 331.33M | 242.00M | 124.14M | 122.90M | 79.19M |
| Stockholders Equity | -90.14M | -97.54M | -76.81M | 105.28M | -52.79M |
Cash Flow | |||||
| Free Cash Flow | -15.33M | -55.82M | -60.59M | -33.03M | -12.06M |
| Operating Cash Flow | -15.33M | -54.66M | -58.61M | -31.51M | -10.99M |
| Investing Cash Flow | -19.34M | -54.66M | 6.17M | 3.33M | -1.06M |
| Financing Cash Flow | 0.00 | 120.10M | 50.42M | 31.19M | 16.89M |
SunPower Inc Technical Analysis
Neutral
1.23
Price Trends
1.35
Negative
1.51
Negative
1.61
Negative
Market Momentum
-0.05
Negative
47.82
Neutral
46.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPWR, the sentiment is Neutral. The current price of 1.23 is above the 20-day moving average (MA) of 1.21, below the 50-day MA of 1.35, and below the 200-day MA of 1.61, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 47.82 is Neutral, neither overbought nor oversold. The STOCH value of 46.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SPWR.
SunPower Inc Risk Analysis
SunPower Inc disclosed 59 risk factors in its most recent earnings report. SunPower Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SunPower Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $274.44M | ― | -16.66% | ― | 97.41% | 11.83% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | $143.45M | -4.23 | ― | ― | 657.27% | ― | |
46 Neutral | $55.17M | -1.22 | 1044.27% | ― | 39.53% | -7.16% | |
42 Neutral | $25.35M | -0.39 | 54.21% | ― | -54.68% | 63.56% | |
42 Neutral | $34.65M | -3.39 | 71.01% | ― | 27.17% | 57.71% |
* Technology Sector Average
SPWR
SunPower Inc
1.23
-0.59
-32.42%
MAXN
Maxeon Solar Technologies
1.54
-1.26
-45.00%
FTCI
FTC Solar
4.39
1.76
66.92%
TYGO
Tigo Energy
3.82
3.08
416.22%
ZEO
Zeo Energy
0.58
-0.78
-57.65%
SunPower Inc Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
SunPower Files 2025 10-K and Cleans Balance Sheet
Positive
Apr 14, 2026
On April 8, 2026, SunPower Inc. raised $5 million via a simple agreement for future equity with the Rodgers Massey Revocable Living Trust, an affiliate of CEO and Chairman T.J. Rodgers, with the instrument set to convert into equity at the price o...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
SunPower Shareholders Approve Expanded Equity Incentive and Financing
Positive
Mar 30, 2026
On March 25, 2026, SunPower Inc. shareholders approved a second amendment to the company’s 2023 Equity Incentive Plan, raising the total shares reserved for issuance under the plan to 44,573,109 common shares, which expands its capacity to g...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
SunPower Showcases Post-Bankruptcy Transformation at Roth Conference
Positive
Mar 23, 2026
On March 23, 2026, SunPower plans to present at the 38th Annual Roth Conference, outlining how it has been reshaped since the 2024 bankruptcy through new funding, acquisitions and operational restructuring. The company highlights that it has recor...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
SunPower Announces New Convertible Debenture Financing Agreement
Neutral
Mar 12, 2026
On March 6, 2026, SunPower Inc. entered into a purchase agreement with YA II PN, LTD. under which the investor bought a zero‑coupon, $10 million convertible debenture for $9 million, maturing March 6, 2027. The debenture features scheduled i...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Complete Solaria Completes Cobalt Acquisition Using Equity Consideration
Positive
Feb 2, 2026
On January 30, 2026, SunPower Inc. entered into a Share Purchase Agreement with California-based Cobalt Power Systems, Inc. and its stockholders and, on February 2, 2026, completed the acquisition of all outstanding Cobalt shares. The transaction ...
Business Operations and StrategyPrivate Placements and Financing
Complete Solaria Secures New Convertible Note Insider Financing
Positive
Jan 30, 2026
On January 27, 2026, SunPower Inc. entered into a Standby Equity Purchase Agreement with YA II PN, LTD., under which the investor agreed to provide up to $20 million in pre-paid advances via zero-coupon convertible promissory notes maturing in 202...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Complete Solaria Reports Record Q4 2025 Profitable Growth
Positive
Jan 20, 2026
On January 20, 2025, SunPower reported record preliminary financial results for the fourth quarter of 2025, with revenue rising to $88.5 million from $70.0 million in the prior quarter and non-GAAP operating income reaching a post-acquisition reco...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.