Revenue: As of FY2026 Q2, the actual value is USD 55.96 M.

EBIT: As of FY2026 Q2, the actual value is USD -18.12 M.

Q2 2026 Financial Performance Overview

Revenue

SunPower Inc. reported Q2 2026 revenue of $55,956 thousand, a decrease from $72,793 thousand in Q1 2026, representing a $16.8 million decline quarter-over-quarter.

Gross Profit and Margin

• GAAP: Gross Profit was $26,159 thousand in Q2 2026, down from $45,162 thousand in Q1 2026. Gross Margin was 47% in Q2 2026, compared to 62% in Q1 2026.
• Non-GAAP: Gross Profit was $27,598 thousand in Q2 2026, down from $46,883 thousand in Q1 2026. Gross Margin was 49% in Q2 2026, compared to 64% in Q1 2026.

Operating Expenses (Opex)

• GAAP: Operating Expense was $44,273 thousand in Q2 2026, a reduction from $64,357 thousand in Q1 2026. Opex (less commission) was $28,332 thousand in Q2 2026, down from $35,793 thousand in Q1 2026.
• Non-GAAP: Operating Expense was $40,071 thousand in Q2 2026, a reduction from $59,748 thousand in Q1 2026. Opex (less commission) was $24,130 thousand in Q2 2026, down from $31,184 thousand in Q1 2026. Operating expenses decreased by $19.7 million, including a $7.1 million reduction in fixed costs.

Operating Income (Loss)

• GAAP: Operating Income (Loss) was -$18,115 thousand in Q2 2026, an improvement from -$19,196 thousand in Q1 2026.
• Non-GAAP: Operating Income (Loss) was -$12,473 thousand in Q2 2026, an improvement from -$12,865 thousand in Q1 2026.

Cash Balance

SunPower’s cash balance was $4,024 thousand at the end of Q2 2026, down from $9,488 thousand in Q1 2026, falling below the minimum cash target of $10 million.

Other Financial Adjustments

GAAP Stock Comp, Intangibles, and M&A adjustments were $5,642 thousand in Q2 2026, compared to $6,331 thousand in Q1 2026. Total Non-GAAP adjustments for operating income were $5,642 thousand in Q2 2026 and $6,331 thousand in Q1 2026.

Operational Highlights

SunPower experienced 1,105 delayed jobs in its Direct Division during Q2 2026, which are anticipated to clear in Q3, releasing approximately $15.3 million in revenue. The company implemented $7.1 million in quarterly fixed operating expense reductions in Q1 2026 and plans an additional $5.9 million in Q3 2026, totaling $13.0 million in permanent cost reductions. Tom Kowalczuk was appointed CFO on July 7, 2026. SunPower’s Cobalt Power Systems completed a 1.2MW commercial solar & storage project at Santa Clara University and an advanced solar system at San Francisco’s Waterfront Plaza. The company achieved high Net Promoter Scores (NPS) from Starbucks and the Megawatt Millenium Solar Project.

Q3 2026 Outlook

SunPower is forecasting Q3 2026 revenue to grow to over $75 million. The company expects to reduce its operating loss by 90%, from -$12.5 million in Q2 2026 to less than -$1.0 million in Q3 2026. Additionally, SunPower plans to further reduce fixed expenses by another $5.9 million in Q3 2026.