Earnings ·
SunPower Inc. reported preliminary Q2 2026 revenue of $55.96 million, a $16.8 million decline from Q1's $72.79…
SPWRSunPower Inc.
SunPower Inc. reported preliminary Q2 2026 revenue of $55.96 million, a $16.8 million decline from Q1's $72.79 million, driven by a backlog of approximately 1,105 delayed jobs in its SunPower Direct Division due to quality specification violations. The company incurred a non-GAAP operating loss of $12.47 million, slightly better than Q1's $12.87 million loss, as operating expenses fell by $19.7 million, including a $7.1 million reduction in fixed costs. Management replaced the top tiers of the Direct Division's management team and expects to clear the backlog in Q3, targeting revenue growth to over $75 million and a 90% reduction in operating losses to under $1 million. The company ended the quarter with a cash balance of $4.02 million, below its $10 million target, having avoided dilutive equity financing. SunPower Inc. operates in the solar technology, services, and installation industry.