Financial Performance - SunPower reported record Q4'25 revenue of $88.5 million, a 26.5% increase from $70.0 million in Q3'25, driven by acquisitions of Sunder and Ambia[5] - Gross profit for Q4'25 was $48.8 million, with a gross margin of 55%, up from 46% in Q3'25[5] - Non-GAAP operating income reached $3.5 million in Q4'25, compared to $2.0 million in Q3'25, representing 4.0% of revenue[9] - Full-year 2025 revenue totaled $308.8 million, with an operating income of $10.9 million[9] - Q1'26 revenue is projected to be $84 million, with an expected operating income of $2.0 million, reflecting a typical winter quarter slump[9] - SunPower Inc. reported a GAAP operating loss from continuing operations of $29,970 thousand in Q3 2024, improving to a loss of $1,115 thousand by Q4 2025[32] - Non-GAAP net income (loss) improved from a loss of $7,077 thousand in Q3 2024 to a profit of $3,545 thousand in Q4 2025[32] - Total non-GAAP adjustments peaked at $22,893 thousand in Q3 2024, with a subsequent decrease to $4,660 thousand by Q4 2025[32] - The company anticipates a return to profitability with a projected non-GAAP net income of $2,938 thousand in Q1 2025[32] Cash and Financing - The company ended Q4'25 with a cash balance of $9.3 million, an increase from $5.1 million in Q3'25, and secured a $55 million equity line of credit[7] Market Expansion and Product Development - SunPower's salesforce grew to 1,977 representatives by the end of Q4'25, enhancing market share potential for 2026[11] - The company announced a joint development agreement with REC to produce a new high-wattage bifacial solar panel named "Monolith," targeting over 500 watts output[23] - SunPower signed a Letter of Intent to acquire Cobalt Power Systems, aiming to enhance its market position and install the new Monolith panels[25] - SunPower Inc. has indicated a focus on market expansion and new product development as part of its strategic initiatives moving forward[33] Cost Management and Financial Strategy - The company aims to improve its price-to-sales (P/S) ratio from 0.55 to 1.75, which could significantly increase its share price[18] - SunPower Inc. is actively managing acquisition costs related to headcount reductions and professional services, which may impact future financial performance[33] - SunPower Inc. continues to emphasize the importance of non-GAAP financial measures to provide a clearer picture of operational performance[33] Expenses and Charges - Depreciation and amortization expenses related to capital expenditures were $1,745 thousand in Q4 2024, increasing to $1,942 thousand in Q4 2025[32] - Stock-based compensation, a non-cash expense, was recorded at $1,516 thousand in Q3 2024 and increased to $2,718 thousand in Q4 2025[32] - Restructuring charges reached $21,072 thousand in Q3 2024, with no further charges reported in subsequent quarters[32]
plete Solaria(CSLR) - 2025 Q4 - Annual Results