Sunpower Inc. Financials
Financial Health Signals
Sunpower Inc. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Sunpower Inc. generates $0.97 in operating cash flow (-$54.7M OCF vs -$56.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Sunpower Inc. earns $-4.2 in operating income for every $1 of interest expense (-$68.5M vs $16.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Sunpower Inc. (SPWR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Sunpower Inc. generated $108.7M in revenue in fiscal year 2024. This represents an increase of 24.1% from the prior year.
Sunpower Inc.'s EBITDA was -$65.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 27.9% from the prior year.
Sunpower Inc. reported -$56.5M in net income in fiscal year 2024. This represents an increase of 79.1% from the prior year.
Sunpower Inc. earned $-1.22 per diluted share (EPS) in fiscal year 2024. This represents an increase of 75.3% from the prior year.
Sunpower Inc. held $13.4M in cash against $147.3M in long-term debt as of fiscal year 2024.
Sunpower Inc. had 74M shares outstanding in fiscal year 2024. This represents an increase of 50.3% from the prior year.
Sunpower Inc.'s gross margin was 36.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 16.0 percentage points from the prior year.
Sunpower Inc.'s operating margin was -63.0% in fiscal year 2024, reflecting core business profitability. This is down 3.2 percentage points from the prior year.
Sunpower Inc.'s net profit margin was -51.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 255.7 percentage points from the prior year.
SPWR Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $70.0M+3.7% | $67.5M-18.4% | $82.7M-6.7% | $88.7M+1874.0% | $4.5M-55.3% | $10.0M-51.6% | $20.7M-15.7% | $24.6M |
| Cost of Revenue | $38.0M-2.1% | $38.8M-9.0% | $42.6M-10.1% | $47.4M+780.5% | $5.4M-30.6% | $7.8M-57.0% | $18.0M-1.7% | $18.4M |
| Gross Profit | $32.0M+11.4% | $28.8M-28.4% | $40.1M-2.7% | $41.3M+4726.5% | -$892K-139.1% | $2.3M-15.1% | $2.7M-56.9% | $6.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $21.5M+37.8% | $15.6M-36.6% | $24.6M-47.5% | $46.8M+649.4% | $6.2M+22.6% | $5.1M-61.6% | $13.3M+499.1% | $2.2M |
| Operating Income | -$3.4M-26.7% | -$2.7M-360.8% | $1.0M+104.8% | -$21.5M-126.5% | -$9.5M-25.8% | -$7.5M+72.4% | -$27.3M-146.8% | -$11.1M |
| Interest Expense | $8.1M+5.8% | $7.7M+2.2% | $7.5M-27.1% | $10.3M+342.4% | $2.3M-34.9% | $3.6M-30.9% | $5.2M+171.5% | $1.9M |
| Income Tax | N/A | N/A | N/A | N/A | $10K+900.0% | $1K | N/A | -$1K |
| Net Income | -$16.9M+24.6% | -$22.4M-375.9% | $8.1M-82.7% | $47.0M+395.6% | -$15.9M-65.8% | -$9.6M+73.7% | -$36.5M+82.4% | -$206.9M |
| EPS (Diluted) | $-0.19+32.1% | $-0.28 | $0.00-100.0% | $0.27+203.8% | $-0.26-30.0% | $-0.20-112.5% | $1.60+130.8% | $-5.20 |
SPWR Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $208.3M+27.7% | $163.1M+10.4% | $147.8M+2.3% | $144.5M+332.6% | $33.4M-18.3% | $40.9M-13.7% | $47.3M-34.3% | $72.0M |
| Current Assets | $115.3M-0.9% | $116.4M+15.4% | $100.8M+5.5% | $95.6M+298.1% | $24.0M-23.2% | $31.3M-17.2% | $37.7M-24.7% | $50.1M |
| Cash & Equivalents | $5.1M-54.4% | $11.1M+5.4% | $10.6M-21.1% | $13.4M+627.5% | $1.8M+3.0% | $1.8M-31.1% | $2.6M+56.1% | $1.7M |
| Inventory | $8.7M+67.5% | $5.2M-52.9% | $11.0M-50.2% | $22.1M+987.6% | $2.0M-26.7% | $2.8M-9.3% | $3.1M-75.5% | $12.5M |
| Accounts Receivable | $80.8M+106.1% | $39.2M+33.7% | $29.3M-43.5% | $51.9M+299.2% | $13.0M-37.9% | $20.9M-20.3% | $26.3M+1.1% | $26.0M |
| Goodwill | $42.9M+116.4% | $19.8M+7.3% | $18.5M0.0% | $18.5M | N/A | N/A | N/A | N/A |
| Total Liabilities | $320.7M+18.6% | $270.3M+14.2% | $236.8M-2.2% | $242.0M+93.0% | $125.4M-0.4% | $125.9M+1.4% | $124.1M+1.1% | $122.8M |
| Current Liabilities | $115.1M+14.0% | $101.0M+19.5% | $84.5M+6.4% | $79.4M-29.9% | $113.3M-3.2% | $117.0M+7.2% | $109.2M+1.7% | $107.4M |
| Long-Term Debt | $204.3M+33.6% | $152.9M | N/A | $147.3M | N/A | N/A | N/A | N/A |
| Total Equity | -$112.3M-4.8% | -$107.2M-20.5% | -$89.0M+8.8% | -$97.5M-6.1% | -$92.0M-8.1% | -$85.1M-10.8% | -$76.8M-51.3% | -$50.8M |
| Retained Earnings | -$442.6M-4.0% | -$425.7M-5.6% | -$403.3M+2.0% | -$411.4M-8.1% | -$380.4M-4.4% | -$364.5M-2.7% | -$354.9M-8.4% | -$327.3M |
SPWR Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.4M-43.7% | -$4.4M-68.4% | -$2.6M+89.7% | -$25.6M-849.5% | -$2.7M+45.6% | -$4.9M+57.5% | -$11.7M+42.2% | -$20.1M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | -$53.6M-15350.4% | -$347K+35.3% | -$536K-107.0% | $7.7M+1553.8% | -$530K |
| Financing Cash Flow | $21.0M+320.3% | $5.0M+2622.7% | -$198K-101.5% | $13.0M+329.8% | $3.0M-35.8% | $4.7M-2.6% | $4.8M-75.5% | $19.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SPWR Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.8%+3.2pp | 42.6%-5.9pp | 48.5%+2.0pp | 46.5%+66.4pp | -19.9%-42.6pp | 22.7%+9.8pp | 13.0%-12.4pp | 25.4% |
| Operating Margin | -4.9%-0.9pp | -4.0%-5.3pp | 1.3%+25.5pp | -24.3%+187.1pp | -211.4%-136.2pp | -75.1%+56.8pp | -131.9%-86.9pp | -45.1% |
| Net Margin | -24.1%+9.1pp | -33.2%-43.0pp | 9.8%-43.2pp | 53.0%+406.8pp | -353.8%-258.3pp | -95.5%+80.6pp | -176.1%+665.2pp | -841.3% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -8.1%+5.6pp | -13.7%-19.2pp | 5.5%-27.0pp | 32.5%+80.1pp | -47.6%-24.1pp | -23.5%+53.7pp | -77.1%+210.1pp | -287.3% |
| Current Ratio | 1.00-0.2 | 1.15-0.0 | 1.19-0.0 | 1.20+1.0 | 0.21-0.1 | 0.27-0.1 | 0.35-0.1 | 0.47 |
| Debt-to-Equity | -1.82-0.4 | -1.43+1.2 | -2.66-1.2 | -1.51-0.1 | -1.36+0.1 | -1.48+0.1 | -1.62+0.8 | -2.42 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$97.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Sunpower Inc.'s annual revenue?
Sunpower Inc. (SPWR) reported $108.7M in total revenue for fiscal year 2024. This represents a 24.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Sunpower Inc.'s revenue growing?
Sunpower Inc. (SPWR) revenue grew by 24.1% year-over-year, from $87.6M to $108.7M in fiscal year 2024.
Is Sunpower Inc. profitable?
No, Sunpower Inc. (SPWR) reported a net income of -$56.5M in fiscal year 2024, with a net profit margin of -51.9%.
What is Sunpower Inc.'s earnings per share (EPS)?
Sunpower Inc. (SPWR) reported diluted earnings per share of $-1.22 for fiscal year 2024. This represents a 75.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Sunpower Inc.'s EBITDA?
Sunpower Inc. (SPWR) had EBITDA of -$65.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Sunpower Inc. have?
As of fiscal year 2024, Sunpower Inc. (SPWR) had $13.4M in cash and equivalents against $147.3M in long-term debt.
What is Sunpower Inc.'s gross margin?
Sunpower Inc. (SPWR) had a gross margin of 36.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Sunpower Inc.'s operating margin?
Sunpower Inc. (SPWR) had an operating margin of -63.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Sunpower Inc.'s net profit margin?
Sunpower Inc. (SPWR) had a net profit margin of -51.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Sunpower Inc.'s operating cash flow?
Sunpower Inc. (SPWR) generated -$54.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Sunpower Inc.'s total assets?
Sunpower Inc. (SPWR) had $144.5M in total assets as of fiscal year 2024, including both current and long-term assets.
How many shares does Sunpower Inc. have outstanding?
Sunpower Inc. (SPWR) had 74M shares outstanding as of fiscal year 2024.
What is Sunpower Inc.'s current ratio?
Sunpower Inc. (SPWR) had a current ratio of 1.20 as of fiscal year 2024, which is considered adequate.
What is Sunpower Inc.'s debt-to-equity ratio?
Sunpower Inc. (SPWR) had a debt-to-equity ratio of -1.51 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sunpower Inc.'s return on assets (ROA)?
Sunpower Inc. (SPWR) had a return on assets of -39.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Sunpower Inc.'s cash runway?
Based on fiscal year 2024 data, Sunpower Inc. (SPWR) had $13.4M in cash against an annual operating cash burn of $54.7M. This gives an estimated cash runway of approximately 3 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Sunpower Inc.'s debt-to-equity ratio negative or unusual?
Sunpower Inc. (SPWR) has negative shareholder equity of -$97.5M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Sunpower Inc.'s Piotroski F-Score?
Sunpower Inc. (SPWR) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sunpower Inc.'s earnings high quality?
Sunpower Inc. (SPWR) has an earnings quality ratio of 0.97x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Sunpower Inc. cover its interest payments?
Sunpower Inc. (SPWR) has an interest coverage ratio of -4.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.