Globenewswire·2025-04-30 11:00Core Viewpoint - SunPower has reported its first profitable quarter in four years, coinciding with its rebranding from Complete Solaria, Inc. to SunPower, and has shown significant improvements in revenue and operating income [3][18]. Financial Performance - Q1 2025 revenue was $80.2 million, consistent with expectations, despite being a traditionally challenging winter quarter [9]. - The company achieved a gross margin of 36% in Q1 2025, down from 47% in Q4 2024 [4]. - Operating income for Q1 2025 was $1.3 million on a non-GAAP basis, a significant improvement from a loss of $5.9 million in Q4 2024 [16]. - Cash balance increased to $14.0 million in Q1 2025 from $13.3 million in Q4 2024 [13]. Operational Changes - The company reduced its workforce from 3,499 employees to 906 within a quarter, aligning staffing levels with profitability targets [9]. - SunPower has implemented continuous cost-cutting measures, leading to improved operating income over the last three quarters [16]. Strategic Developments - SunPower has formed a strategic partnership with Sunder, a solar sales firm, expected to contribute to revenue growth starting in Q3 2025 [18]. - The board has been strengthened with the addition of three former public company CEOs, enhancing governance and strategic oversight [19]. Future Outlook - The company forecasts steady revenue and positive operating income for the next quarter, with a detailed growth plan to be presented at the May annual meeting [15].