The stock market is having a rough start to 2024, and that's causing the renewable energy industry to give back a lot of what was gained late in 2023. Today, stocks dropped because the Federal Reserve's meeting minutes from December were released and weren't as rosy as the market thought. Shares of renewable energy asset owner NextEra Energy Partners (NEP -2.85%) fell as much as 5%, SunPower (SPWR -7.79%) fell 11.5%, and Maxeon Solar Technologies (MAXN -5.59%) dropped 10.1%. At the market close, shares were ...

• New IP infringement action filed in the Netherlands• Cease & Desist letter sent regarding false claimsSINGAPORE, Dec. 21, 2023 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar innovation and channels, today announced that its subsidiary Maxeon Solar Pte. Ltd. has filed a request to initiate preliminary injunction proceedings concerning patent infringement claims against Eironn Netherlands B.V. (Aiko Energy) and its wholesalers VDH Solar Groothandel B.V. and Libra En ...

Exhibit 99.1 Investor Contact: Robert Lahey robert.lahey@maxeon.com +1 (202) 246-1872 Media Contact: Anna Porta anna.porta@maxeon.com +39 345 7706205 Maxeon Solar Technologies Announces Third Quarter 2023 Financial Results --$228 Million Revenue, $2.7 Million Gross Income-- --SunPower Dispute Settled-- Singapore, November 16, 2023 – Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) ("Maxeon" or "the Company"), a global leader in solar innovation and channels, today announced its financial results for the third ...

MAXEON This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding: (a) our expectations regarding pricing trends, demand and growth projections; (b) potential disruptions to our operations and supply chain that may result from epidemics, natural disasters or military conflicts, including the duration, scope and impact ...

Financial Data and Key Metrics Changes - Maxeon reported Q2 2023 revenues of $348 million, reflecting a 9% sequential growth and a 46% year-on-year increase, although it was below guidance [48][53] - Adjusted EBITDA for Q2 was $30 million, or 8.7% of revenue, aligning with guidance [118] - Cash and short-term investments increased to $456 million from $304 million at the end of Q1, attributed to a capital raise [54] Business Line Data and Key Metrics Changes - Total shipments for Q2 were 807 megawatts, up 4% sequentially and 55% year-on-year, but below guidance of 860 to 900 megawatts due to demand fluctuations [12][22] - Non-GAAP operating expenses were $41 million in Q2, up from $38 million in Q1, consistent with guidance [27] - The utility-scale business became the primary growth driver, with over 1.4 gigawatts shipped in Q2, 90% to U.S. customers [100] Market Data and Key Metrics Changes - In the U.S., residential demand was impacted by NEM 3.0 implementation and high interest rates, leading to a slowdown in sales [114] - European demand is growing, but high inventory levels in the commodity segment have created challenges [25][31] - The company is shifting focus to commercial and industrial (C&I) applications to mitigate residential demand slowdown [52] Company Strategy and Development Direction - Maxeon is focused on reshoring the solar supply chain to the U.S. and expanding its manufacturing capacity, with plans to increase the Albuquerque factory's capacity to 4.5 gigawatts [50][142] - The company aims to maintain strong average selling prices (ASPs) despite competitive pricing pressures in the distributed generation market [48][116] - Future growth is expected from utility-scale projects and the new Maxeon 7 technology, with a strong backlog and higher contracted prices anticipated [137][142] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a rapidly changing demand environment, particularly in the U.S. and Europe, but remains optimistic about long-term fundamentals [22][114] - The company expects a recovery in California's market and anticipates stronger performance in Q4 compared to Q3 due to seasonality [38][149] - Management is confident in resolving disputes with SunPower and believes both parties are incentivized to reach a resolution [115][136] Other Important Information - The company is experiencing a slowdown in residential demand but is optimistic about the C&I market, leveraging past experience in that sector [58][162] - Maxeon has a pipeline of projects expected to drive financial performance improvements over the next three years [142] - The company is committed to maintaining its competitive advantage through cost reductions and operational excellence [120] Q&A Session All Questions and Answers Question: What is the outlook for the demand slowdown in the U.S. and Europe? - Management clarified that while Europe is growing, the issue is primarily related to inventory that needs to be worked off, not a demand slowdown [63] Question: Can you elaborate on the situation with SunPower? - Management stated that both parties believe there have been noncompliance issues under the master supply agreement, and they are working towards a resolution [115][136] Question: How does the company plan to address the slowdown in residential demand? - The company is reallocating sales focus towards C&I applications to mitigate the impact of the slowdown in residential demand [52][162] Question: What are the expectations for Q4 performance? - Management expects Q4 to be stronger than Q3, driven by seasonal factors and a recovery in the Maxeon business [149]

Financial Performance - Revenue for the three months ended April 2, 2023, was $318,332 thousand, a 42.6% increase from $223,081 thousand for the same period in 2022[8]. - Gross profit for the same period was $53,625 thousand, compared to a gross loss of $12,964 thousand in the prior year[8]. - Operating income for the three months ended April 2, 2023, was $11,704 thousand, a significant improvement from an operating loss of $50,374 thousand in the same period last year[8]. - Net income attributable to stockholders for the three months ended April 2, 2023, was $20,271 thousand, compared to a net loss of $59,112 thousand in the prior year[8]. - The company reported a comprehensive income of $22,045 thousand for the three months ended April 2, 2023, compared to a comprehensive loss of $60,000 thousand in the same period last year[10]. - The basic income per share for the three months ended April 2, 2023, was $0.49, a recovery from a loss of $1.45 per share for the same period in 2022[132]. Cash and Liquidity - Cash and cash equivalents increased to $278,849 thousand as of April 2, 2023, up from $227,442 thousand on January 1, 2023[4]. - The net increase in cash, cash equivalents, and restricted cash for the three months ended April 2, 2023, was $35.8 million, up from $15.5 million for the same period in 2022[16]. - The company expects that its current cash and cash equivalents, along with cash generated from operations, will be sufficient to meet its obligations over the next 12 months[20]. - The company has a total cash, cash equivalents, and restricted cash of $303.7 million as of April 2, 2023, compared to $207.8 million as of April 3, 2022[16]. - The company reported a decrease in restricted cash primarily due to the release of cash collateralized for standby letters of credit[19]. Assets and Liabilities - Total assets as of April 2, 2023, were $1,267,535 thousand, slightly up from $1,260,418 thousand at the beginning of the year[4]. - Total liabilities decreased to $1,193,387 thousand as of April 2, 2023, from $1,212,348 thousand on January 1, 2023[4]. - As of April 2, 2023, contract liabilities amounted to $328.3 million, an increase of $27.4 million from January 1, 2023, primarily due to additional customer advances[47][48]. - The company reported accounts receivable, net, of $72.2 million as of April 2, 2023, up from $54.3 million on January 1, 2023, indicating a growth of approximately 33%[49]. - The company had total inventories of $316.4 million, an increase from $303.2 million on January 1, 2023, representing a growth of approximately 4.1%[55]. Expenses and Investments - Research and development expenses for the three months ended April 2, 2023, were $11,076 thousand, down from $13,894 thousand in the prior year[8]. - The company recognized stock-based compensation of $4,033 thousand during the three months ended April 2, 2023[11]. - The company has recognized a total refund liability of $24.3 million related to the Amendment to the Solarization Agreement, to be repaid in 12 equal installments until the fourth quarter of 2025[36]. - The company has $59.3 million of prepayments in "Contract liabilities, current portion" on its Condensed Consolidated Balance Sheets as of April 2, 2023[39]. Restructuring and Strategic Initiatives - The Company implemented a restructuring plan in May 2021, resulting in the closure of a manufacturing facility in Toulouse, France, affecting less than 40 employees[136]. - A subsequent restructuring plan was adopted in June 2022, focusing on the closure of a module factory in Porcelette, France, with an expected impact on less than 30 employees[137]. - The total restructuring benefits recognized for the three months ended April 2, 2023, amounted to $(212,000), while the previous year recorded $(235,000)[138]. - As of April 2, 2023, the total restructuring reserve stood at $191,000, down from $563,000 at the beginning of the period[140]. - The company continues to focus on improving operating performance and liquidity through various strategies, including evaluating restructuring plans and renegotiating payment terms[24]. Debt and Financing - The company completed the sale of $207 million in aggregate principal amount of 7.50% first lien senior secured convertible notes due 2027 to TZE SG at a purchase price equivalent to 97% of the principal amount[43]. - The net carrying amount of the Green Convertible Notes was $192.1 million as of April 2, 2023, with a fair value of $314.4 million[98]. - The interest expense for the Green Convertible Notes for the three months ended April 2, 2023, was $4.1 million, including $3.25 million in contractual interest and $858,000 in amortization[99]. - The carrying amount of the Prepaid Forward was $58.5 million as of April 2, 2023, with a gain of $23.8 million recorded for the three months ended April 2, 2023[105]. - The outstanding amount of the Revolving Credit agreement was $50.0 million as of both April 2, 2023, and January 1, 2023, with interest expenses recorded at $0.7 million for the three months ended April 2, 2023[113].

Exhibit 99.1 Investor Contact: Robert Lahey robert.lahey@maxeon.com +1 (202) 246-1872 Media Contact: Anna Porta anna.porta@maxeon.com +39 345 7706205 Maxeon Solar Technologies Announces First Quarter 2023 Financial Results --$54 Million Non-GAAP Gross Margin, $31 Million Adjusted EBITDA-- --2023 Adjusted EBITDA Guidance Increased to $95 to $120 Million-- Singapore, May 11, 2023 – Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) ("Maxeon" or "the Company"), a global leader in solar innovation and channels, toda ...

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Q4 2022 Earnings Conference Call March 7, 2023 5:00 PM ET Company Participants Robert Lahey - Head of IR Bill Mulligan - CEO Kai Strohbecke - CFO Peter Aschenbrenner - Chief Strategy Officer Conference Call Participants Julien Dumoulin-Smith - Bank of America Philip Shen - ROTH MKM Brian Lee - Goldman Sachs Pavel Molchanov - Raymond James David Arcaro - Morgan Stanley Donovan Schafer - Northland Capital Markets Operator Good day, ladies and gentlemen, and welcom ...

Exhibit 99.1 Investor Contact: Robert Lahey robert.lahey@maxeon.com +1 (202) 246-1872 Media Contact: Anna Porta anna.porta@maxeon.com +39 345 7706205 Maxeon Solar Technologies Announces Fourth Quarter and Fiscal Year 2022 Financial Results --Record Gross Profit of $20 million in fourth quarter of 2022-- --Guiding Positive Adj. EBITDA in first quarter of 2023-- Singapore, March 8, 2023 – Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) ("Maxeon" or "the Company"), a global leader in solar innovation and channel ...

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Q3 2022 Earnings Conference Call November 10, 2022 5:00 PM ET Company Participants Robert Lahey - Head of IR Mark Babcock - Interim CEO Kai Strohbecke - CFO Peter Aschenbrenner - Chief Strategy Officer Conference Call Participants Julien Dumoulin-Smith - Bank of America Donovan Schafer - Northland Capital Markets Brian Lee - Goldman Sachs Philip Shen - ROTH Capital Partners Pavel Molchanov - Raymond James Operator Good day, ladies and gentlemen. Welcome to the M ...