SunPower returns to profitability after 4 years with $1.3 million net income in Q1 2025
The company reduced its headcount from 3,499 to 906 employees to streamline operations and cut costs
Official rebranding to SunPower marks a new era with a refreshed brand and ticker symbol (SPWR)
SunPower, formerly known as Complete Solaria, Inc., has announced a return to profitability with its Q1 2025 results, reporting $80.2 million in revenue and $1.3 million in net income – its first profitable quarter since 2021.
Once one among the largest solar PV companies in the US, and having filed for bankruptcy in 2024, the name SunPower made a return as Complete Solaria rebranded itself using this legacy name (see SunPower To Return, As Complete Solaria Announces Rebranding). The company’s official rebranding to SunPower followed the acquisition of SunPower assets last year.
For the first quarter of 2025, SunPower achieved $80.2 million in revenues, in line with internal expectations even during a traditionally difficult winter quarter. The company credited operational efficiencies and strong market performance for maintaining revenue during slower months, particularly in northern regions impacted by snow-related installation delays.
SunPower reported net income of $1.3 million for Q1 2025, marking its first profitable quarter in 4 years. The turnaround follows significant cost-cutting efforts, including reducing its workforce from nearly 3,499 to 906 employees, streamlining operations post-merger of Complete Solar, SunPower, and Blue Raven Solar. The company also grew its cash balance to $14.0 million by the end of the quarter.
On April 21, 2025, the company officially rebranded to SunPower, adopting the iconic solar brand name it acquired in September 2024. Alongside the name change, its stock ticker also switched from CSLR to SPWR on Nasdaq.
Speaking about the performance and signaling a fresh start for the company, SunPower Chairman and CEO, T.J. Rodgers said, “We are at the right headcount to be profitable at USD 300 million in annualized revenue. Our successive USD 80 million-plus quarters re-define our company with an annualized revenue of $300 million-plus, now producing a USD 1 million-plus quarterly operating profit. The market is beginning to recognize that fact.”
Looking ahead, SunPower expects steady revenue and positive operating income for the next quarter, with growth initiatives poised to boost performance in the second half of 2025.