SunPower Inc (SPWR)
NASDAQ:SPWR
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SunPower Inc
(NASDAQ:SPWR)
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Rating:46Neutral
Price Target:
$1.00
▼(-15.25% Downside)
Action:ReiteratedDate:05/05/26
The score is held down primarily by weak financial health (negative equity, higher debt, and ongoing cash burn) and bearish technicals (price below key moving averages with negative MACD). These are partially offset by a more constructive earnings-call picture showing improving operating results and guidance for continued positive operating income, though liquidity and integration/reporting risks remain notable.
Positive Factors
Operational Momentum
SunPower’s reported record quarter (Q4 $88.5M) and four straight quarters of operating profit, plus full-year revenue ~ $309M, indicate improving core operations and scaling. Sustained positive operating income supports reinvestment capacity and credibility with partners over the next several months.
Negative Factors
Weak Balance Sheet
Negative equity (~-$90M) and rising debt (~$180M) materially weaken financial flexibility. This capital structure constrains the company’s ability to absorb shocks, raises refinancing risk, and limits capacity for non-dilutive investment or large roll-outs without external funding in the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Operational Momentum
SunPower’s reported record quarter (Q4 $88.5M) and four straight quarters of operating profit, plus full-year revenue ~ $309M, indicate improving core operations and scaling. Sustained positive operating income supports reinvestment capacity and credibility with partners over the next several months.
Read all positive factors
SunPower Inc (SPWR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$131.72M
Dividend YieldN/A
Average Volume (3M)1.41M
Price to Earnings (P/E)―
Beta (1Y)1.81
Revenue Growth175.88%
EPS Growth37.18%
CountryUS
Employees600
SectorTechnology
Sector Strength88
IndustrySolar
Share Statistics
EPS (TTM)-0.49
Shares Outstanding126,652,770
10 Day Avg. Volume1,803,841
30 Day Avg. Volume1,406,925
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)-1.52
Price to Sales (P/S)0.46
P/FCF Ratio-8.92
Enterprise Value/Market Cap2.04
Enterprise Value/Revenue0.87
Enterprise Value/Gross Profit1.79
Enterprise Value/Ebitda-73.31
Forecast
1Y Price Target
$5.40Price Target Upside357.63% 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:Aug 25, 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 | 300.00M | 108.74M | 87.62M | 66.47M | 68.82M |
| Gross Profit | 129.21M | 39.50M | 17.79M | 19.83M | 28.69M |
| EBITDA | -17.80M | -35.48M | -81.25M | -22.36M | -7.10M |
| Net Income | -45.35M | -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 | 188.42M | 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 | 30.91M | 120.10M | 50.42M | 31.19M | 16.89M |
SunPower Inc Technical Analysis
Negative
1.18
Price Trends
1.33
Negative
1.50
Negative
1.60
Negative
Market Momentum
-0.04
Negative
43.00
Neutral
55.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPWR, the sentiment is Negative. The current price of 1.18 is below the 20-day moving average (MA) of 1.21, below the 50-day MA of 1.33, and below the 200-day MA of 1.60, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 43.00 is Neutral, neither overbought nor oversold. The STOCH value of 55.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
64 Neutral | $353.51M | 2.07 | -16.66% | ― | 91.68% | 95.09% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
46 Neutral | $131.72M | -30.65 | 32.43% | ― | 175.88% | 37.18% | |
46 Neutral | $82.49M | -1.22 | 1044.27% | ― | 110.51% | -38.57% | |
42 Neutral | $14.19M | -0.39 | 54.21% | ― | ― | ― | |
40 Underperform | $56.81M | -3.39 | 71.01% | ― | -5.32% | 55.14% |
* Technology Sector Average
SPWR
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SunPower Inc Corporate Events
Business Operations and StrategyPrivate Placements and Financing
SunPower Raises Capital Through Convertible Notes and Exchanges
Neutral
Apr 29, 2026
On April 23, 2026, SunPower Inc. closed a $41 million private offering of 10.00% Convertible Senior Secured Notes due 2029, sold primarily to qualified institutional buyers and accredited investors, including $6 million to entities affiliated with...
Business Operations and StrategyPrivate Placements and Financing
SunPower Restructures Debt with New Convertible Notes Financing
Positive
Apr 22, 2026
On April 21, 2026, SunPower Inc. entered into a series of financing and exchange transactions centered on a $41 million private offering of 10.00% Convertible Senior Secured Notes due 2029, with portions placed with institutional investors, an aff...
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...
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.