SunPower Inc. filings document the reporting record of an emerging growth company with common stock and warrants outstanding. Recent Forms 8-K describe material agreements, convertible debentures, SAFE financing arrangements, unregistered sales of securities, exchange transactions, creation of debt obligations, and capital-structure changes tied to its solar technology, services, and installation business.
The filing record also covers annual-report timing, operating and financial results, Regulation FD presentation materials, shareholder voting matters, and audit committee determinations that prior interim financial statements should no longer be relied upon. These disclosures include governance, liquidity and accounting matters associated with SunPower's residential solar, New Homes, dealer and related installation operations.
SunPower Inc. reports Q1 2026 results showing revenue of $72.8M, down from $78.4M a year earlier, and a net income of $5.3M driven by fair value gains on derivatives. The core business generated a loss from operations of $19.2M.
Cash and cash equivalents were $9.5M with current debt of about $38.0M and a net operating cash outflow of $25.7M, leading management to state there is substantial doubt about the company’s ability to continue as a going concern. SunPower closed the Cobalt acquisition and continues integrating prior Sunder and Ambia deals, bringing goodwill to $75.6M and expanding its residential solar footprint.
SunPower Inc. filed an amended Form 10‑Q/A to restate its Q1 2025 financial statements. The restatement corrects material errors in revenue recognition, cost of revenues, stock-based compensation, and interest and amortization of debt discount, affecting multiple balance sheet and income statement accounts.
For the thirteen weeks ended March 30, 2025, as restated, SunPower reported revenue of $78.4 million and net income of $4.8 million, largely driven by a $15.1 million gain from remeasurement of derivative liabilities. The company had cash and cash equivalents of $10.6 million, total assets of $143.2 million, total liabilities of $235.3 million and a stockholders’ deficit of $92.1 million.
Management discloses substantial doubt about the company’s ability to continue as a going concern within one year, citing recurring losses, negative operating cash flows and limited liquidity, and notes that material weaknesses in internal control over financial reporting persisted as of March 30, 2025.
SUNPOWER INC. Alyeska Investment Group, L.P., Alyeska Fund GP, LLC and Anand Parekh report beneficial ownership of 10,196,302 shares of common stock, equal to 9.16% of the class, based on holdings as of March 31, 2026. The filing states the position includes 839,577 shares of common stock and 9,356,725 shares issuable upon conversion of convertible securities. The number of shares outstanding is reported as 111,300,000 (as provided by the company on April 21, 2026).
SunPower Inc. filed an initial Form 3 for director Bernard Gutmann. This filing establishes his status as a reporting person under SEC rules but shows no reported transactions, holdings, or derivative positions in the data provided.
SunPower Inc. notified the SEC it could not timely file its Quarterly Report on Form 10-Q for the quarter ended March 29, 2026 due to a delay in compiling and processing certain information. The company expects to file the Form 10-Q on or before the fifth calendar day following the prescribed due date.
The notification was signed by Chief Executive Officer Thurman J. Rodgers on May 13, 2026. The filing also states the company will file a Form 10-Q/A for Q1 2025 in connection with the Q1 2026 filing and includes forward-looking statement cautionary language.
SunPower Inc. reported preliminary unaudited Q1 2026 results showing revenue of $72.8M and a GAAP operating loss of $19.2M, compared with Q4 2025 revenue of $91.0M. Despite the loss, GAAP gross margin improved to 62%, up from 51% in Q4.
On a non-GAAP basis, operating loss was $12.9M versus non-GAAP operating income of $3.2M in Q4. Management implemented quarterly cost reductions of $9.9M and estimates Q2 2026 revenue of $75M with an operating loss of about $3.0M, and Q3 2026 revenue of $96M, which they describe as cashflow breakeven.
The company completed a demanding 2025 Form 10-K audit that led to restatements of Q1–Q3 2025, reducing full-year revenue from $308M in prior quarterly reports to $300M in the 10-K and non-GAAP operating income from $10.9M to $7.3M. In response, SunPower accepted the resignation of its CFO Wendell Laidley, temporarily appointed CEO T.J. Rodgers as Principal Financial Officer, and added former ON Semiconductor CFO Bernard Gutmann to its board and audit committee while strengthening internal controls and audit processes.
SunPower Inc.’s chief executive officer, Thurman J. Rodgers, and affiliated entities report beneficial ownership of 50,576,853 shares of common stock, equal to 33.2% of SunPower’s outstanding shares as of April 13, 2026. This Schedule 13D reflects his role as CEO and major investor and replaces an earlier Schedule 13G.
Rodgers’ position combines directly held shares, stock options and warrants with large holdings in several trusts and Rodgers Capital LLC, plus substantial stakes through 10%, 12% and 7% convertible senior notes and prior Simple Agreements for Future Equity. As an officer, director and significant holder, he may influence SunPower’s strategic decisions, capital structure and potential corporate transactions, while reserving the right to buy or sell additional securities.
SunPower Inc. closed a private Offering of $41,000,000 in 10.00% Convertible Senior Secured Notes due 2029. The Notes were sold to qualified institutional buyers and an institutional accredited investor, and also issued to affiliates of the CEO and to Chicken Parm Pizza LLC in exchange for existing funding obligations.
The Notes are secured by a first-priority security interest in substantially all assets under a Pledge and Security Agreement and related patent and trademark security agreements. A maximum of 36,283,184 shares of common stock may be issued upon conversion. SunPower also repurchased $21,250,000 of 7.0% Convertible Senior Notes due 2029 in exchange for 18,805,310 shares of common stock plus about $456,438 of accrued interest, and paid $4,000,000 in cash to Chicken Parm Pizza LLC under an amended and restated Seller Note.
SunPower Inc.’s chief executive officer, Thurman J. Rodgers, indirectly acquired 10% Convertible Senior Secured Notes due 2029 with $6,000,000 principal amount through family trusts. Two Simple Agreements for Future Equity totaling $5,000,000 and $1,000,000 were exchanged into these notes.
The notes are held by the Rodgers Massey Revocable Living Trust ($5,000,000) and the Rodgers Family Freedom & Free Markets Charitable Trust ($1,000,000), where the reporting person and spouse serve as trustees. The notes are initially convertible at 610.3143 shares of common stock per $1,000 principal amount, representing 3,661,885 underlying shares, and mature on May 1, 2029 unless earlier converted or repurchased.
SunPower Inc. entered agreements for a private Offering of $41 million of 10.00% Convertible Senior Secured Notes due 2029. The notes are senior, secured obligations, guaranteed by a subsidiary and secured by first-priority liens on substantially all company and guarantor assets.
The notes convert at an initial rate of 610.3143 shares per $1,000 (about $1.64 per share), a 45% premium to the April 21, 2026 closing price, with a maximum conversion rate of 884.9557 shares. Net proceeds after specified repayments and fees are expected to be about $9.75 million for working capital and general purposes, including paying off the remaining YA debenture balance.
SunPower also amended its Sunder acquisition debt, issuing a $7 million amended and restated Seller Note, and agreed with YA to prepay $5 million of an existing debenture and amortize the remaining $5 million in four installments. Separately, it struck exchange agreements to repurchase $21.25 million of 7.0% convertible notes in exchange for 18,805,310 common shares plus accrued interest, collectively targeting about $40 million of debt reduction.