Maxeon Solar Stock Price, News & Analysis

Maxeon Solar Technologies (NASDAQ:MAXN) received a favorable patent validity ruling in China, affirming the validity of its patent for shingled solar cell panel technology amidst a challenge by LONGi Green Energy. The ruling, decided by the China National Intellectual Property Administration, confirms Maxeon’s rights over its technology used in Performance panels. This decision enhances Maxeon’s position in the solar market, where it has deployed over 3 gigawatts of its technology in 60 countries. The company maintains an extensive international patent portfolio with over 150 patents related to solar technology.

Maxeon Solar Technologies (NASDAQ:MAXN) has appointed Mark Babcock as Chief Revenue Officer to enhance its revenue generation and global expansion. Babcock will report to CEO Jeff Waters and oversee market-facing functions, focusing on growth in over 100 countries. With over two decades of experience in the solar sector, Babcock aims to drive sustainable growth and explore new revenue opportunities. This strategic addition comes as Maxeon continues its growth trajectory after becoming an independent public entity in August 2020.

Maxeon Solar Technologies (NASDAQ: MAXN) has become a signatory of the United Nations Global Compact, a major corporate sustainability initiative. This commitment marks a significant step in their first quarter of operations since becoming independent in August 2020. Maxeon aims to align its Environmental, Social, and Governance (ESG) strategy with the UN's Sustainable Development Goals, addressing global sustainability challenges. The company has appointed Lindsey Wiedmann as Global ESG Executive Leader, enhancing its commitment to social responsibility and sustainable innovation.

Maxeon Solar Technologies (NASDAQ: MAXN) will present at the Bank of America 2020 Virtual Renewable Energy Symposium on December 3, 2020, at 1:00 PM ET. The management team will engage in virtual investor meetings throughout the day. Attendance is by invitation only for Bank of America's clients. Founded in Singapore, Maxeon is a global leader in solar innovation, offering SunPower® brand solar panels and holding over 900 patents. With operations across continents, the company aims to lead in sustainable solar manufacturing.

Maxeon Solar Technologies (NASDAQ:MAXN) revealed its Q3 2020 results, showing a net loss of $67.8 million compared to $46.6 million in Q2 2020. Revenues were reported at $206.6 million, a decrease from $309.6 million year-over-year. Module shipments reached 531 MW, up from 428 MW in Q2. For Q4 2020, Maxeon expects module shipments between 550 MW and 690 MW, with revenues projected between $210 million and $260 million. The company anticipates a gross profit of $1 million to $7 million but a wider adjusted EBITDA loss of $15 million to $20 million due to polysilicon costs.

Maxeon Solar Technologies (NASDAQ: MAXN) will announce its third quarter 2020 financial results on November 19, 2020. Investors can access the earnings press release and supplemental financial information on Maxeon's Investor Relations page. A conference call will be held on the same date at 6:00 PM ET to discuss the results and provide business updates. Dial-in details and a webcast will be available for interested parties. A replay of the conference call will be accessible by phone until November 26, 2020.

Maxeon Solar Technologies (NASDAQ: MAXN) announced the launch of the SunPower Advantage Installer Program, aimed at enhancing solar installation capabilities in Norway, Sweden, Denmark, Poland, Portugal, and Spain. This program offers specialized training, expert knowledge updates, a Labour Reimbursement Program, and a reward system for installers. Maxeon aims to strengthen its market presence and support installers in delivering high-quality solar solutions. The program is free of charge, reflecting Maxeon's commitment to innovation and customer satisfaction.

Maxeon Solar Technologies (NASDAQ: MAXN) will present at the UBS Global Energy Transition Call Series on October 9, 2020, at 11:00 AM ET. The management will focus on trends in the rooftop solar market outside the U.S. This event is part of a series featuring energy experts discussing innovative business models benefiting from the global energy transition. Interested participants can register for the session here.

Maxeon Solar Technologies (NASDAQ: MAXN) has completed its registered offering of ordinary shares, raising approximately $58.5 million from the sale of around 3.8 million shares. This offering was linked to a previous transaction involving $200 million in green convertible senior notes, with the initial conversion rate set at 54.9611 shares per $1,000 principal amount. The offering was executed through Merrill Lynch International as part of a physical delivery forward transaction and is aimed at bolstering Maxeon’s financial position.