SunPower Corporation (SPWR) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
880 HARBOUR WAY SOUTH, SUITE 600 RICHMOND, CA 94804 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3674 - Semiconductors and Related Devices (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 114,104 | 116,478 | 509,506 | 535,245 | 499,935 | 451,085 | |||
| Cash and cash equivalent | 114,104 | 116,478 | 377,026 | 396,510 | 206,355 | 142,250 | |||
| Short-term investments | 132,480 | 138,735 | 293,580 | 308,835 | |||||
| Restricted cash and investments | 2,075 | 10,471 | 10,668 | 13,204 | 1,024 | 681 | |||
| Receivables | 220,196 | 202,516 | 173,633 | 183,154 | 155,631 | 124,837 | |||
| Inventory, net of allowances, customer advances and progress billings | 402,375 | 360,452 | 295,731 | 228,253 | 222,524 | 245,612 | |||
| Inventory | 402,375 | 360,452 | 295,731 | 228,253 | 222,524 | 245,612 | |||
| Prepaid expense | 30,814 | 32,496 | 34,124 | 31,972 | 36,591 | 27,880 | |||
| Deferred costs | 101,224 | 121,214 | 125,604 | 124,592 | 101,162 | 76,069 | |||
| Derivative instruments and hedges, assets | 80 | 1,384 | |||||||
| Advances on inventory purchases | 4,645 | 15,258 | 12,059 | 6,432 | 2,216 | 2,685 | |||
| Disposal group, including discontinued operation | 179,484 | ||||||||
| Other undisclosed current assets | 158,060 | 112,318 | 91,194 | 67,466 | 52,504 | 51,560 | |||
| Total current assets: | 1,033,573 | 972,587 | 1,252,519 | 1,190,318 | 1,071,587 | 1,159,893 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 35,219 | 36,302 | 36,926 | 38,295 | 28,809 | 30,337 | |||
| Property, plant and equipment | 95,785 | 84,077 | 76,473 | 64,784 | 50,675 | 42,495 | |||
| Intangible assets, net (including goodwill) | 146,680 | 148,433 | 150,190 | 150,650 | 150,739 | 151,114 | |||
| Goodwill | 125,998 | 125,998 | 125,998 | 126,338 | 126,338 | 126,338 | |||
| Intangible assets, net (excluding goodwill) | 20,682 | 22,435 | 24,192 | 24,312 | 24,401 | 24,776 | |||
| Restricted cash and investments | 19,679 | 18,910 | 18,812 | 24,265 | 21,270 | 12,857 | |||
| Other noncurrent assets | 185,999 | 176,940 | 186,927 | 206,630 | 169,882 | 129,529 | |||
| Other undisclosed noncurrent assets | 39,767 | 40,768 | 41,779 | 42,552 | 43,510 | 44,550 | |||
| Total noncurrent assets: | 523,129 | 505,430 | 511,107 | 527,176 | 464,885 | 410,882 | |||
| TOTAL ASSETS: | 1,556,702 | 1,478,017 | 1,763,626 | 1,717,494 | 1,536,472 | 1,570,775 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 227,386 | 223,694 | 243,139 | 240,083 | 188,444 | 179,069 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | ✕ | 3,902 | 7,855 | ✕ | ||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 42,048 | 32,442 | ✕ | ||
| Accounts payable | 227,386 | 223,694 | 243,139 | 194,133 | 148,147 | 179,069 | |||
| Deferred revenue | 223,846 | 162,343 | 141,863 | 135,497 | 102,778 | 66,127 | |||
| Debt | 48,054 | 125,344 | 82,240 | 2,185 | 62,089 | 107,863 | |||
| Disposal group, including discontinued operation | 138,153 | ||||||||
| Other undisclosed current liabilities | 145,031 | 179,024 | 584,394 | 532,552 | 549,780 | 564,995 | |||
| Total current liabilities: | 644,317 | 690,405 | 1,051,636 | 910,317 | 903,091 | 1,056,207 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 305,709 | 155,969 | 308 | 103,967 | 77,674 | 26,553 | |||
| Long-term debt, excluding current maturities | 305,709 | 155,969 | 308 | 72,567 | 54,130 | 338 | |||
| Liabilities, other than long-term debt | 150,701 | 151,915 | 155,637 | 136,586 | 136,616 | 128,354 | |||
| Deferred revenue | 11,057 | 11,339 | 11,588 | 18,344 | 18,674 | 19,059 | |||
| Other liabilities | 112,771 | 112,214 | 114,702 | 118,242 | 117,942 | 109,295 | |||
| Operating lease, liability | 26,873 | 28,362 | 29,347 | 31,400 | 23,544 | 26,215 | |||
| Total noncurrent liabilities: | 456,410 | 307,884 | 155,945 | 240,553 | 214,290 | 154,907 | |||
| Total liabilities: | 1,100,727 | 998,289 | 1,207,581 | 1,150,870 | 1,117,381 | 1,211,114 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 455,077 | 478,844 | 555,242 | 557,625 | 413,317 | 358,615 | |||
| Treasury stock, value | (232,940) | (231,717) | (226,646) | (225,703) | (224,829) | (222,573) | |||
| Additional paid in capital | 2,847,884 | 2,839,233 | 2,855,930 | 2,845,845 | 2,840,028 | 2,719,927 | |||
| Accumulated other comprehensive income | 11,586 | 11,573 | 11,568 | 11,097 | 11,139 | 11,170 | |||
| Accumulated deficit | (2,171,628) | (2,140,420) | (2,085,784) | (2,073,788) | (2,213,195) | (2,150,083) | |||
| Other undisclosed equity, attributable to parent | 175 | 175 | 174 | 174 | 174 | 174 | |||
| Equity, attributable to noncontrolling interest | 898 | 884 | 803 | 8,999 | 5,774 | 1,046 | |||
| Total equity: | 455,975 | 479,728 | 556,045 | 566,624 | 419,091 | 359,661 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,556,702 | 1,478,017 | 1,763,626 | 1,717,494 | 1,536,472 | 1,570,775 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 463,360 | 434,267 | 498,183 | 475,711 | 417,772 | 350,277 | ||
| Cost of revenue | (389,431) | (353,229) | (354,437) | (370,264) | (336,273) | (277,968) | ||
| Gross profit: | 73,929 | 81,038 | 143,746 | 105,447 | 81,499 | 72,309 | ||
| Operating expenses | (97,090) | (111,341) | (137,013) | (92,960) | (99,460) | (82,899) | ||
| Operating income (loss): | (23,161) | (30,303) | 6,733 | 12,487 | (17,961) | (10,590) | ||
| Nonoperating income (expense) | (5,168) | (15,830) | (10,174) | 131,296 | (20,524) | (3,558) | ||
| Other nonoperating income (expense) | 289 | (10,983) | (6,755) | 135,368 | (14,652) | 1,444 | ||
| Interest and debt expense | (5,786) | (5,678) | (6,341) | (4,216) | (5,964) | (5,044) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (34,115) | (51,811) | (9,782) | 139,567 | (44,449) | (19,192) | ||
| Income (loss) from equity method investments | 1,500 | (5,700) | 2,400 | 3,200 | ||||
| Other undisclosed income from continuing operations before income taxes | 5,786 | 4,178 | 12,041 | 1,816 | 2,764 | 5,044 | ||
| Income (loss) from continuing operations before income taxes: | (28,329) | (46,133) | (3,441) | 143,783 | (38,485) | (14,148) | ||
| Income tax expense (benefit) | (378) | (1,328) | 3,075 | (3,109) | (3,226) | |||
| Income (loss) from continuing operations: | (28,707) | (47,461) | (366) | 140,674 | (41,711) | (14,148) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 140,674 | (62,327) | (39,853) | |
| Loss from discontinued operations | (20,616) | (25,705) | ||||||
| Other undisclosed net income (loss) | (2,487) | (7,094) | (4,204) | 1,958 | ||||
| Net income (loss): | (31,194) | (54,555) | (4,570) | 142,632 | (62,327) | (39,853) | ||
| Net income (loss) attributable to noncontrolling interest | (14) | (81) | (1,005) | (3,225) | (785) | 589 | ||
| Other undisclosed net income attributable to parent | 11,393 | |||||||
| Net income (loss) available to common stockholders, basic: | (31,208) | (54,636) | (5,575) | 139,407 | (63,112) | (27,871) | ||
| Other undisclosed net income (loss) available to common stockholders, diluted | (4,560) | 3,026 | 20,616 | |||||
| Net income (loss) available to common stockholders, diluted: | (31,208) | (54,636) | (10,135) | 142,433 | (42,496) | (27,871) | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (31,194) | (54,555) | (4,570) | 142,632 | (62,327) | (39,853) | ||
| Other comprehensive income (loss) | 13 | 5 | 471 | (42) | (31) | 2 | ||
| Other undisclosed comprehensive income | 11,393 | |||||||
| Comprehensive income (loss): | (31,181) | (54,550) | (4,099) | 142,590 | (62,358) | (28,458) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (14) | (81) | (1,005) | (3,225) | (785) | 589 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (31,195) | (54,631) | (5,104) | 139,365 | (63,143) | (27,869) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.