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SunPower cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$26.5M in Q2 2026 · −$60.5M over twelve months

Operating cash flow−$26.5M
Free cash flow−$26.5M
Cash / net income-3.8×

Analysis

In Q2 2026, SunPower generated −$26.5M of operating cash flow.

Over the twelve months to Jun 28, 2026, operating cash flow was −$60.5M; the largest uses were operating cash flow ($60.5M); besides operations, cash came from net borrowing (+) / repaid (−) ($57.9M), other financing ($11.6M); the cash balance fell by $9.8M.

Operating cash flow was −$26.5M against net income of $6.9M — -3.8× profit, less cash than reported earnings, worth checking against working capital. The largest differences: prepaid and other assets −$9.5M, receivables +$6.1M, deferred revenue −$4.0M.

Free cash flow

SunPower: free cash flow by quarterSunPower: free cash flow by quarter−$21.5MQ3 2024−$25.6MQ4 2024−$2.6MQ1 2025−$4.4MQ2 2025−$6.2MQ3 2025−$2.1MQ4 2025−$25.7MQ1 2026−$26.5MQ2 2026
Operating cash flow less capital spending.
SunPower: operating cash flow against capital spendingSunPower: operating cash flow against capital spendingOperating cash flowCapital spending−$21.5M$0Q3 2024−$25.6M$0Q4 2024−$2.6M$0Q1 2025−$4.4M$0Q2 2025−$6.2M$0Q3 2025−$2.1M$0Q4 2025−$25.7M$0Q1 2026−$26.5M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$26.5M, Capital spending $0.

Capital allocation, year by year

SunPower: where the cash came from (up) and went (down), by fiscal yearSunPower: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$11.0MFY2021: Net borrowing $1.1MFY2021: Shares issued −$18.6MFY2021: Capital spending −$9K$1.1MFY2021FY2022: Operating cash flow −$31.5MFY2022: Net borrowing $15.5MFY2022: Shares issued $29.5MFY2022: Acquisitions $4.8M$49.9MFY2022FY2023: Operating cash flow −$58.6MFY2023: Net borrowing $19.7MFY2023: Shares issued $10.0MFY2023: Capital spending −$35K$29.7MFY2023FY2024: Operating cash flow −$54.7MFY2024: Net borrowing $80.9MFY2024: Shares issued $7.2MFY2024: Acquisitions −$53.5M$88.1MFY2024FY2025: Operating cash flow −$15.3MFY2025: Net borrowing $15.6MFY2025: Shares issued $7.2MFY2025: Acquisitions −$19.3M$22.8MFY2025
Over these 5 years operating cash flow totalled −$171M; the largest uses were operating cash flow ($171M) and acquisitions ($72.8M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$4.1M
Debt$204M
Net debt$200M
Cash runway1 month

SunPower is burning cash: its operations consume cash, a free cash flow of −$60.5M a year at the current rate against $4.1M of cash and investments: a runway of about 1 month before any new financing.

Where the cash came from and went

SunPower: sources (+) and uses (−) of cash, Q2 2026SunPower: sources (+) and uses (−) of cash, Q2 2026Net borrowing (+) / repaid (−)$29.3MOperating cash flow−$26.5MOther financing−$8.2MCash drawn (+) / kept (−)$5.4M
SunPower: sources (+) and uses (−) of cash, TTM to Q2 2026SunPower: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$60.5MNet borrowing (+) / repaid (−)$57.9MNot reconciled−$18.8MOther financing$11.6MCash drawn (+) / kept (−)$9.8M

From profit to cash

SunPower: net income to operating cash flow, Q2 2026SunPower: net income to operating cash flow, Q2 2026Net income$6.9MDepreciation & amortization$3.2MStock-based pay$1.3MReceivables$6.1MInventory$838KPayables−$26KAccrued liabilities$304KDeferred revenue−$4.0MPrepaid and other assets−$9.5MOperating cash flow−$26.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202571195237
Q2 202536173518
Q1 202545292054
Q4 202431221241
Q3 20241771482109

Every quarter

QuarterOperating cash flowAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$26.5M—$29.3M—$5.4M−$26.5M
Q1 2026−$25.7M$553K$10.7M$7.0M$2.8M−$25.7M
Q4 2025−$2.1M$1.4M—$4.8M−$4.5M−$2.1M
Q3 2025−$6.2M—$19.8M$216K$6.1M−$6.2M
Q2 2025−$4.4M—−$507K$502K−$572K−$4.4M
Q1 2025−$2.6M—−$215K$57K$2.8M−$2.6M
Q4 2024−$25.6M—$13.0M$591K$66.1M−$25.6M
Q3 2024−$21.5M——$432K−$77.7M−$21.5M

SunPower: income statement and cash flow

SunPower, Q2 2026: revenue $54.9M (-17% year over year), operating margin -42.8%. The chart follows the revenue to costs, profit and cash.

SunPower: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.