**Complete Solaria, Inc. (Rebranded as SunPower Inc.) Reports Financial Results in Form 10-K Filing**
Complete Solaria, Inc., now rebranded as SunPower Inc., filed its Form 10-K, revealing a net loss from continuing operations of $44.3 million for the fiscal year ended December 28, 2025, compared to a net loss of $54.4 million in the previous fiscal year. The company's accumulated deficit stood at $456.7 million as of the end of 2025. Revenue for the same period reached $300 million, a significant increase from the $108.7 million reported in the fiscal year ended December 29, 2024. This growth was primarily driven by increased activity in the Residential Solar Installation and New Homes Business segments, as well as the addition of the Dealer segment following the acquisition of Sunder Energy LLC.
The company's cost of revenues also increased, totaling $170.8 million in 2025 compared to $69.2 million in 2024, reflecting the higher volume of solar system installations. Operating expenses rose to $156.1 million, up from $108 million in the prior year, with increases in sales commissions, sales and marketing, and general and administrative expenses. Interest expense also increased, reaching $25.1 million in 2025, compared to $16.2 million in 2024, primarily due to the issuance of additional debt. The company's cash and cash equivalents, excluding restricted cash, were $9.6 million as of December 28, 2025.
Strategic developments during the year included the acquisitions of Sunder Energy LLC, Ambia Energy LLC, and Cobalt Power Systems, Inc., aimed at expanding the company's market share and geographic reach. These acquisitions, along with the earlier acquisition of certain assets from SunPower Corporation, are expected to contribute to future revenue growth. The company also sold the solar panel assets of The Solaria Corporation to Maxeon Solar Technologies, Ltd. in October 2023.
The filing also disclosed material weaknesses in the company's internal controls over financial reporting, leading to material errors in previously issued interim financial statements. The company is taking steps to remediate these weaknesses, including hiring additional personnel and engaging third-party consultants. Management has expressed substantial doubt about the company's ability to continue as a going concern, citing recurring losses and negative cash flows. The company's ability to continue operations is contingent upon obtaining sufficient funding through external financial transactions or cash flows generated from operations.
About Complete Solaria, Inc.
Complete Solaria designs, sells, and installs solar energy systems for residential homeowners and small to medium-sized businesses. It offers a comprehensive platform with software tools, financing options, and a network of sales and build partners to deliver customized, energy-efficient solar solutions. The company focuses on customer experience, operational efficiency, and strategic acquisitions to expand its market presence in the renewable energy sector.
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