Renewable Energy
Merger / DESPAC
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OREM, Utah (April 30, 2025) – SunPower (Nasdaq: SPWR) reported its Q1 2025 results, marking its first profitable quarter in four years. The company, formerly Complete Solaria, Inc., achieved a revenue of $80.2 million and a profit of $1.3 million.
SunPower chairman and CEO, T.J. Rodgers, highlighted that this is the company’s second quarterly report after the SunPower asset purchase and the first after rebranding as SunPower on April 21, 2025.
Key Highlights:
- Q1’25 revenue was $80.2 million, aligning with expectations despite the traditionally challenging winter quarter.
- SunPower has reduced its staffing by 3x since October 1, 2024, and is now leanly staffed with 906 employees, ahead of the target of 980.
- The company has brought in key new employees, including Dr. Richard Swanson and Dr. Mehran Sedigh.
- Headcount and cost reductions led to $1.3 million in operating income in Q1’25.
- The cash balance grew slightly to $14.0 million from $13.3 million in Q4’24.
SunPower forecasts steady revenue and positive operating income for the next quarter and will provide a more detailed forecast at its annual meeting in May.
Subsequent events include the company's rebranding as SunPower (Nasdaq: SPWR), a strategic partnership with Sunder, and the addition of three public-company ex-CEO directors to its board.