Reserve adjustment
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SunPower Q3’25 10Q Report Filed
Globenewswire· 2025-12-23 13:00
Core Viewpoint - SunPower Inc. has filed its Q3'25 10Q report, revealing a significant adjustment in bad-debt reserves, which has impacted its reported operating income [2]. Financial Performance - The Q3'25 report shows an increase in bad-debt reserves from $7.1 million to $8.2 million due to auditor recommendations, which is a notable rise compared to the typical quarterly reserve drawdown of $0.45 million [2]. - The adjustment in reserves led to a reduction in non-GAAP Q3'25 operating income from $3.123 million to $2.123 million, which is not a record [2]. Company Operations - SunPower has successfully contacted 38 out of 40 homebuilders regarding aged accounts receivable (AR) and is now receiving payments, indicating improved collection confidence [2]. - The company undertook significant efforts to address aged AR by recreating invoices line-by-line, which contributed to the delay in the reserve adjustment [2]. Company Overview - SunPower Inc. is a leading provider of residential solar services in North America, focusing on energy-efficient solutions through its digital platform and installation services [3].