SunPower Inc.

SunPower Inc. secured a $3.5 million investment from an institutional investor on August 4, 2026, through a Simple Agreement for Future Equity (SAFE). This SAFE is convertible into the company's equity securities during its next financing round, with the conversion based on the purchase amount divided by the applicable price per share and no discount. The transaction was conducted as an unregistered sale of equity securities, relying on the exemption provided by Section 4(a)(2) of the Securities Act of 1933.

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.

SunPower Inc. received a notice from Nasdaq on July 21, 2026, indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company's stock traded below this threshold for 30 consecutive business days. SunPower has 180 calendar days, until January 19, 2027, to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive business days. The company plans to actively monitor its stock price and explore options to meet the requirement.

SunPower Inc. has entered into OTC Equity Prepaid Forward Transaction Settlement Agreements with several investment funds to settle existing forward purchase agreements. The company will initially issue 17,900,462 shares of common stock, with the potential for additional shares based on future trading prices. These shares are being issued under an exemption from registration requirements, and the agreements also include registration rights for the recipients. One of the sellers has a provision for monthly cash amortization payments if their full settlement amount is not realized through share sales by a specified date.

SunPower Inc. announced that it will present its second-quarter 2026 financial results through a webcast on Tuesday, July 28, at 1:00 PM ET. Interested parties can register for the event or access it via the investor relations section of the company's website. This webcast will provide updates on the company's performance for the quarter.

SunPower Inc. announced the successful completion of a 977-kilowatt solar system at the 330-unit Millenium Project in Palm Desert, California. The system is expected to generate over 1.6 million kWh of energy annually. The company achieved a Net Promoter Score (NPS) of 90 for this project, marking a significant milestone in its customer transformation program. SunPower also highlighted its progress in improving its overall NPS from -25% in Q2'25, targeting 70%+ by Q2'27.

SunPower Inc. announced the departure of Jeanne Nguyen, its former Chief Accounting Officer. Her departure was effective on July 8, 2026. The company filed an 8-K to disclose this management change.

SunPower Inc. announced the appointment of Tom Kowalczuk as its new Chief Financial Officer, effective June 30, 2026. In connection with his appointment, Mr. Kowalczuk received an inducement grant consisting of 1.0 million time-based restricted stock units (RSUs). These RSUs will vest with 20% after one year and the remainder ratably over the subsequent four years, subject to his continuous service. The Board of Directors approved this inducement award without shareholder approval, in accordance with Nasdaq Stock Market Listing Rule 5635(c).

SunPower Inc. has announced the appointment of Tom Kowalczuk as its new Chief Financial Officer and Principal Financial Officer, effective June 30, 2026. Mr. Kowalczuk brings over 20 years of finance and accounting experience, including his most recent role as CFO of Bespoken Spirits. His compensation package includes an annual base salary of $400,000, a target bonus opportunity of 50% of his base salary, and a grant of 1,000,000 restricted stock units.

SunPower Inc. entered into agreements to exchange approximately $10.7 million of cash interest, otherwise payable on its convertible senior notes, for 19,300,991 shares of its common stock. This transaction, which closed on July 1, 2026, allows the company to conserve cash by avoiding these interest payments. CEO T.J. Rodgers indicated that Q2'26 was likely the bottom quarter for the company and the U.S. residential solar industry, citing cost reductions, increased financial flexibility, a record backlog, and expectations for strong growth in Q3.