SunPower revenue rises to $65.1 million as quarterly report is delayed
Key Facts
SunPower reported a delay in its quarterly 10-Q for the period ended September 27, 2026, citing delays in compiling and processing information for inclusion in the report. In its notice, the company said it expected to file the report no later than the fifth calendar day after its scheduled filing date. The notice comes as the company presents preliminary, unaudited estimates for the third quarter, including a modest increase in revenue compared with the same period a year earlier. Chief Financial Officer Tom Kowalchuk signed the late-filing notice on November 12, 2026. The disclosure therefore combines a delay to the periodic report with preliminary indicators for revenue, costs and loss.
SunPower estimated third-quarter 2026 revenue at $65.1 million, compared with $64.5 million in the third quarter of 2025. The comparison covers the quarter ended September 27, 2026, versus the quarter ended September 28, 2025. The company said in its filing that preliminary third-quarter 2026 revenue was $65.1 million, compared with $64.5 million in the corresponding period. This shows a year-over-year increase in revenue, but the final 10-Q had not been filed when the notice was issued. The figures remain preliminary and unaudited estimates until the periodic report is published.
By contrast, estimated cost of revenue rose to $44.8 million in the third quarter of 2026, compared with $32.4 million in the third quarter of 2025. Estimated total operating expenses also reached $47.9 million, up from $33.7 million in the corresponding period. The comparisons show that costs and expenses increased alongside the modest rise in revenue. The company estimated its net comprehensive loss after tax at $21.5 million in the third quarter of 2026, compared with a loss of $13.7 million a year earlier. In its filing, the company said net comprehensive loss after tax was $21.5 million, compared with $13.7 million in the third quarter of 2025.
The preliminary third-quarter results follow a decline in revenue in the second quarter of 2026 to $56.0 million from $72.8 million in the first quarter. SunPower said at the time that the quarterly revenue decline was $16.8 million and affected results. In a separate disclosure on liquidity and going concern, the company recorded an operating loss of $42.7 million during the 26 weeks ended June 28, 2026. Cash and cash equivalents, excluding restricted cash, totaled $4.1 million on that date, while current debt stood at $17.5 million. The company said operating losses and negative operating cash flows would continue in the near term, and that failure to obtain sufficient additional financing could lead it to reduce spending, suspend programs or cease operations.
SunPower completed a private financing in September 2026, issuing 103,109,005 shares at $0.2541 per share, for gross proceeds of about $26.2 million earmarked for working capital and general purposes. The company’s prospectus said the shares registered for resale represented 33.8% of outstanding shares and 46.2% of shares held by non-affiliates, based on data from October 9, 2026. The prospectus said that selling a large number of these shares could pressure the share price and weaken the company’s ability to raise additional capital. The company had also disclosed a Nasdaq notice regarding failure to meet the minimum bid-price requirement, with 180 days to regain compliance. This requires a price of at least $1 for 10 consecutive business days before January 19, 2027.
EL7 data showed SPWR shares closed at $0.2119 on November 12, 2026, compared with $0.2295 on November 11 and $0.2341 on November 10. The stock closed at $0.2429 on November 9 and $0.2746 on November 6. SunPower’s historical pricing tool shows a close of $0.23 on both November 10 and 11, with a notice that prices are delayed by at least 15 minutes and sourced from LSEG. As for the next step, the company said it expected to file the 10-Q no later than the fifth calendar day after its scheduled due date. The notice did not specify a calendar date for the filing in the information presented.