SunPower Corporation (SPWR) Income Statement
SPWR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSPWR revenue and net income
Where SPWR's revenue goes
2025Each bar shows an amount and its share of revenue. SPWR kept −15.1% of revenue as net income.
SPWR profit margins
SPWR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +175.9% | +65.3% | +59.2% | −15.3% |
| Gross profit | +227.1% | +86.8% | +60.1% | −6.2% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SPWR quarterly EPS vs estimates
SunPower beat the analyst EPS estimate in 3 of the last 8 quarters.
SPWR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $300.0M | $108.7M | $87.6M | $66.5M | $68.8M | $29.4M | $1.09B | $1.20B | $1.79B | $2.55B |
| Cost of revenue | $170.8M | $69.2M | $69.8M | $46.6M | $40.1M | $17.1M | $928.7M | $1.05B | $1.81B | $2.33B |
| Gross profit | $129.2M | $39.5M | $17.8M | $19.8M | $28.7M | $12.3M | $163.5M | $148.5M | −$18.6M | $221.8M |
| Research & development | — | — | $24.0M | — | $15.7M | $22.4M | $34.2M | $49.2M | $82.2M | $116.9M |
| Sales, general & admin | $156.1M | $108.0M | $32.1M | $41.0M | $5.8M | $3.8M | $172.1M | $200.1M | $278.6M | $332.8M |
| Total operating expenses | $156.1M | $108.0M | $70.1M | $41.0M | $36.0M | $17.4M | $206.3M | $327.8M | $360.9M | $677.3M |
| Operating income | −$26.9M | −$68.5M | −$52.4M | −$21.2M | −$7.3M | −$5.1M | −$42.8M | −$269.8M | −$379.5M | −$216.4M |
| Interest income | $3,000 | $19,000 | $36,000 | $5,000 | $0 | $0 | — | — | — | — |
| Interest expense | $25.1M | $16.2M | $14.0M | $5.0M | $1.7M | $523,000 | $49.0M | $108.3M | $90.3M | $61.3M |
| Income before taxes | −$42.7M | −$54.4M | −$96.2M | −$28.0M | −$9.3M | −$5.7M | $191.0M | −$898.7M | −$1.20B | −$564.6M |
| Income taxes | $1.6M | $2.0M | −$20,000 | $27,000 | $3,000 | $3,000 | $16.5M | $2.1M | −$3.9M | $7.3M |
| Net income | −$45.4M | −$56.5M | −$269.6M | −$29.5M | −$9.3M | −$5.7M | $22.2M | −$811.1M | −$929.1M | −$448.6M |
| EBITDA | −$8.5M | −$35.5M | −$81.3M | −$22.4M | −$7.1M | −$4.9M | $320.1M | −$131.1M | −$925.2M | −$296.6M |
| EPS (diluted) | −$0.52 | −$0.42 | −$1.17 | $0.16 | $0.10 | $2.00 | −$0.33 | −$3.87 | −$0.86 | −$0.77 |
| Gross margin | 43.1% | 36.3% | 20.3% | 29.8% | 41.7% | 41.8% | 15.0% | 12.4% | −1.0% | 8.7% |
| Operating margin | −9.0% | −63.0% | −59.8% | −31.8% | −10.6% | −17.4% | −3.9% | −22.4% | −21.2% | −8.5% |
| Net margin | −15.1% | −51.9% | −307.7% | −44.3% | −13.5% | −19.3% | 2.0% | −67.5% | −51.8% | −17.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $54.9M | $72.8M | $88.5M | $70.0M | $67.5M | $78.4M | $88.7M | $5.5M | $4.5M | $10.0M | $20.7M | $24.6M |
| Cost of revenue | $32.2M | $28.1M | $39.6M | $38.0M | $38.8M | $51.0M | $47.4M | $8.7M | $5.4M | $7.8M | $18.0M | $18.4M |
| Gross profit | $22.7M | $44.7M | $48.8M | $32.0M | $28.8M | $27.4M | $41.3M | −$3.2M | −$892,000 | $2.3M | $2.7M | $6.2M |
| Research & development | — | — | — | — | — | — | — | — | — | — | $4.8M | $6.5M |
| Sales, general & admin | $33.7M | $63.9M | $57.7M | $35.5M | $31.5M | $22.6M | $62.8M | $26.8M | $8.6M | $9.8M | $9.1M | $6.3M |
| Total operating expenses | $46.1M | $63.9M | $50.0M | $35.5M | $31.5M | $31.1M | $62.8M | $26.8M | $8.6M | $9.8M | $18.7M | $17.3M |
| Operating income | −$23.5M | −$19.2M | −$1.1M | −$3.4M | −$2.7M | −$3.7M | −$21.5M | −$30.0M | −$9.5M | −$7.5M | −$16.1M | −$11.1M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $3,000 | $83,000 | $86,000 | $10,000 | $6,000 | $10,000 | $9,000 |
| Interest expense | $8.5M | $6.9M | $1.8M | $8.1M | $7.7M | $6.0M | $8.0M | $2.3M | $2.3M | $3.6M | $5.2M | $1.9M |
| Income before taxes | $6.9M | $4.6M | −$1.1M | −$15.8M | −$22.4M | $4.8M | $47.0M | −$78.0M | −$13.9M | −$9.6M | −$22.8M | −$51.0M |
| Income taxes | — | −$608,000 | — | — | — | −$11,000 | −$11,000 | — | $10,000 | $1,000 | −$19,000 | −$1,000 |
| Net income | $6.9M | $5.2M | −$1.1M | −$16.9M | −$22.4M | $4.8M | $47.0M | −$78.0M | −$15.9M | −$9.6M | −$27.6M | −$206.9M |
| EBITDA | −$20.3M | $15.2M | −$1.1M | −$6.4M | −$13.3M | $10.9M | $56.7M | −$75.3M | −$11.2M | −$5.7M | −$17.3M | −$48.9M |
| EPS (diluted) | −$0.28 | $0.00 | −$0.14 | −$0.20 | −$0.23 | $0.05 | $0.45 | −$0.41 | −$0.26 | −$0.20 | −$0.51 | −$0.18 |
| Gross margin | 41.3% | 61.4% | 55.2% | 45.8% | 42.6% | 34.9% | 46.5% | −57.0% | −19.9% | 22.7% | 13.0% | 25.4% |
| Operating margin | −42.8% | −26.4% | −1.3% | −4.9% | −4.0% | −4.8% | −24.2% | −541.4% | −211.4% | −75.1% | −77.5% | −45.1% |
| Net margin | 12.6% | 7.2% | −1.3% | −24.1% | −33.2% | 6.1% | 53.0% | −1,408.2% | −353.8% | −95.5% | −133.4% | −841.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SPWR's financial statements (latest annual report filed April 14, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SPWR financial results
In fiscal year 2025 (ended December 31, 2025), SunPower reported revenue of $300.0 million, up 175.9% from the year before. It had a net loss of $45.4 million, a net profit margin of −15.1%. Diluted earnings per share came to −$0.52. Over five years revenue grew at an average rate of 59.2% a year.
See the SPWR stock overview for the latest quote and news, or the SPWR chart for price history and technical indicators.
SPWR income statement FAQ
What is SunPower's annual revenue?
SunPower reported total revenue of $300.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 175.9% from $108.7 million the previous year.
Is SunPower profitable?
No. SunPower reported a net loss of $45.4 million in fiscal 2025, a net profit margin of −15.1%; its operating margin was −9.0%.
What is SunPower's gross margin?
SunPower's gross margin was 43.1% in fiscal 2025: for every $100 of revenue, SunPower kept $43 after the direct cost of its products and services.
How fast is SunPower growing?
Revenue grew 59.2% a year on average over the last five fiscal years, from $29.4 million to $300.0 million.
What are SunPower's earnings per share?
SunPower earned $-0.52 per diluted share in fiscal 2025, compared with $-0.42 a year earlier.
When does SunPower's fiscal year end?
SunPower's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 14, 2026.