Quarterly ResultJul 28, 2026, 08:02 AM
SunPower Q2 Revenue $56.0M, Down 23%; Forecasts Q3 Revenue $75M+
AI Summary
SunPower Inc. announced preliminary unaudited Q2 2026 financial results, reporting revenue of $56.0 million, a significant drop from Q1 2026. The company posted a non-GAAP operating loss of $12.5 million and a cash balance of $4.0 million, below its target. The revenue decline was primarily due to delayed jobs in the SunPower Direct Division, leading to a management overhaul in that segment. Despite the poor Q2 performance, SunPower provided an optimistic Q3 2026 outlook, forecasting revenue exceeding $75 million and reducing its operating loss to less than $1.0 million, supported by ongoing cost reduction initiatives.
Key Highlights
- Q2 2026 revenue was $56.0 million, a $16.8 million decrease from Q1 2026.
- Non-GAAP operating loss for Q2 2026 was $12.5 million, a slight improvement from Q1.
- Cash balance at quarter-end was $4.0 million, falling below the minimum target of $10 million.
- Q2 revenue miss attributed to 1,105 delayed jobs in the SunPower Direct Division due to quality issues.
- Replaced the top two and a half tiers of the SunPower Direct management team.
- Forecasts Q3 2026 revenue of over $75 million and an operating loss of less than $1.0 million.
- Achieved $7.1 million in fixed operating expense reductions in Q2, with another $5.9 million planned for Q3.
- Appointed Tom Kowalczuk as Chief Financial Officer on July 7, 2026.
Price Impact
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