Filing Flows › SunPower (SPWR) › Q1 2025
SunPower (SPWR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 19, 2025
SunPower (SPWR) reported revenue of $78.4M for the first quarter 2025 (Q1 2025), +681% from a year earlier and -12% from the quarter before. Operating margin was -4.8%, net earnings $4.8M (6.1% of revenue).
SunPower, Q1 2025: revenue $78.4M (+681% year over year), operating margin -4.8%, net earnings $4.8M, operating cash flow −$2.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $78.4M | -12% | +681% |
| Operating profit | −$3.7M | — | — |
| Net earnings | $4.8M | -90% | — |
| Operating cash flow | −$2.6M | — | — |
What changed
Revenue was $78.4M in Q1 2025, up 681% year over year and down 12% from the previous quarter.
Gross margin was 34.9%, up 12.2 points from a year earlier. Operating costs exceeded revenue by $3.7M, an operating margin of -4.8%. Operating expenses grew 216% against revenue growth of 681%. The fastest-growing cost line was General & admin (+192%). Net earnings were $4.8M. The effective tax rate was 0.0%. Non-operating items added $8.5M, 177% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$2.6M. Non-cash charges added back $1.6M of depreciation and amortization and $469K of share-based compensation. Working capital and other items used $9.5M.
Questions
What was SunPower's revenue in the first quarter 2025?
SunPower (SPWR) reported revenue of $78.4M for the first quarter 2025 (Q1 2025), +681% from a year earlier and -12% from the quarter before.
Was SunPower profitable in the first quarter 2025?
Operating loss was $3.7M (-4.8% of revenue) and net earnings $4.8M.
Source: SunPower 10-Q on SEC EDGAR.