SUNPOWER CORP
us.sunpower.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Dec 18, 2023. Its latest SEC filing is a 25-NSE from Sep 20, 2024.
10-Q for Q3 FY2023, filed Dec 18, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Sells solar power systems, battery storage, and home energy solutions to homeowners and new home builders.
10-K for FY2022, filed Mar 10, 2023
Who Were Their Customers?
Homeowners and new home builders buy directly through SunPower Direct or through third-party dealers and resellers.
10-K for FY2022, filed Mar 10, 2023Our scope and scale allow us to deliver solar and battery storage solutions for residential customers, including individual homeowners and…View ↗
Our internal sales team, SunPower Direct, including a dedicated new homes division, and our third-party dealer network of more than 700…View ↗
Advances in financing are playing a big part in driving increased profits and dealer loyalty. We sell our residential solar energy…View ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2023, filed Dec 18, 2023
−$37.4MView ↗
- ▼ Now a loss
- vs $135.6M in Q3 FY2022
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Aug 12, 2024
Nasdaq moves to delist SunPower’s shares
SunPower said it would not appeal, and its shares were expected to move to the Pink Open Market.
Sources
8-K, filed Aug 12, 2024
On August 7, 2024, the Company received written notice (the “Delisting Notice”) from the Listing Qualifications Department of the Nasdaq…View ↗
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Aug 6, 2024
Files for bankruptcy and agrees to sell parts of its business
Complete Solaria agreed to buy Blue Raven Solar, New Homes, and the non-installing dealer network for $45 million, subject to court approval and competing bids.
Sources
8-K, filed Aug 6, 2024
On August 5, 2024, prior to the filing of the Chapter 11 Cases, the Company and its subsidiaries named therein (together, the “Sellers”)…View ↗
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Jul 3, 2024
Auditor resigns amid restatement of financial statements
SunPower said its 2022 annual report and three quarterly reports from 2023 should no longer be relied upon and should be restated.
Sources
8-K, filed Jul 3, 2024
On June 27, 2024, SunPower Corporation (the “Company”) was notified by the Company’s independent registered public accounting firm, Ernst &…View ↗
A narrower customer focus
The older report describes solar systems and services for residential, commercial, and power plant customers worldwide; the latest describes solar and related home-energy offerings for residential customers, primarily in the United States and Canada.
10-K for FY2019, filed Feb 18, 2020 10-K for FY2022, filed Mar 10, 2023SunPower Corporation (together with its subsidiaries, “SunPower,” the “Company,” “we,” “us,” or “our”) is a leading solar technology and…View ↗
As a result of the sale of our C&I Solutions business, we now operate in a single operating segment, providing solar power systems and…View ↗
Our scope and scale allow us to deliver solar and battery storage solutions for residential customers, including individual homeowners and…View ↗
Who Did They Compete With?
Competes with SunRun, Sunnova Energy International, Tesla, SolarEdge, Complete Solaria, Amicus Solar, GAF Energy, ADT Solar, REC Group, Generac Holdings, Maxeon Solar Technologies, Enphase Energy, and Sunlight Financial Holdings
10-K for FY2022, filed Mar 10, 2023SunRun, Inc., Sunnova Energy International Inc., Tesla, Inc., SolarEdge, Complete Solaria Inc., Amicus Solar, GAF Energy, ADT Solar, REC…View ↗
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