SPWRW SunPower Inc. - Warrant
$0.07
Price · Aug 19, 2026
Fundamentals as of May 19, 2026
52W Range
$0–$0
12% of range
Analyst Rating
—
Price Target
—
P/E (TTM)
-0.0
ROE
46.0%
Net Profit Margin
-15.1%
SPWRW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.07
Market Cap
$1M
P/E (TTM)
-0.0
EPS (TTM)
$-0.52
Revenue (TTM)
$300M
Div Yield
—
ROE
46.0%
Debt/Equity
-0.3
52W Range
$0 – $0
SPWRW Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$300M
2022-12-31
→
2025-12-28
EPS
$-0.52
2022-12-31
→
2025-12-28
Free Cash Flow
—
2023-12-31
→
2023-12-31
Margins
-15.1%
2023-12-31
→
2025-12-28
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
SPWRW
Peer Median
P/E (TTM)
-0.0
—
P/S (TTM)
0.0
—
P/B
-0.0
—
EV / EBITDA
-0.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
SPWRW
Peer Median
Gross Margin
43.1%
—
Operating Margin
-9.0%
—
Net Profit Margin
-15.1%
—
ROA
-23.5%
—
ROE
46.0%
—
ROIC
42.4%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
SPWRW
Peer Median
Debt / Equity
-0.3
—
Current Ratio
0.7
—
Quick Ratio
0.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
SPWRW
Peer Median
Revenue YoY
175.9%
—
Revenue CAGR 3Y
65.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
SPWRW
Peer Median
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $300M | $109M | $88M | $66M | |
| Cost of Revenue | $171M | $69M | $70M | $47M | |
| Gross Profit | $129M | $40M | $18M | $20M | |
| SG&A Expense | $90M | $77M | $32M | $14M | |
| Operating Expenses | $156M | $108M | $70M | $41M | |
| Operating Income | $-27M | $-69M | $-52M | $-21M | |
| Interest Expense | · | · | $14M | $5M | |
| Interest Income | $3.0K | $19.0K | $36.0K | $5.0K | |
| Other Non-op | $9M | $8M | $-30M | $-2M | |
| Pretax Income | $-43M | $-54M | $-96M | $-28M | |
| Income Tax | $2M | · | $-20.0K | $27.0K | |
| Net Income | $-45M | $-56M | $-270M | $-29M | |
| EPS (Basic) | $-0.52 | $-0.85 | $-4.94 | $-1.31 | |
| EPS (Diluted) | $-0.52 | $-1.22 | $-4.94 | $-1.31 | |
| Shares (Basic) | 87,108,928 | 66,655,837 | 24,723,370 | 22,524,400 | |
| Shares (Diluted) | 87,108,928 | 75,793,548 | 24,723,370 | 22,524,400 | |
| EBITDA | $-24M | $-66M | $-52M | $-4M |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $10M | $13M | $3M | $4M | |
| Receivables | · | $52M | $26M | $28M | |
| Inventory | $4M | $22M | $3M | $13M | |
| Prepaid Expense | $17M | $8M | $6M | $10M | |
| Other Current Assets | $10M | $4M | · | · | |
| Current Assets | $113M | $96M | $38M | $55M | |
| PP&E (Net) | $5M | $5M | $4M | $3M | |
| PP&E (Gross) | $9M | $6M | $8M | $6M | |
| Accum. Depreciation | $4M | $916.0K | $4M | · | |
| Goodwill | $63M | $18M | · | · | |
| Intangibles | $51M | $17M | · | $43M | |
| Other Non-current Assets | $2M | $628.0K | $198.0K | $1M | |
| Total Assets | $241M | $144M | $47M | $228M | |
| Accounts Payable | $26M | $8M | $13M | $14M | |
| Short-term Debt | $24M | $2M | $27M | $0 | |
| Current Liabilities | $155M | $79M | $109M | $60M | |
| Capital Leases | $3M | $2M | $664.0K | $1M | |
| Other Non-current Liabilities | $6M | $9M | · | $3M | |
| Total Liabilities | $331M | $242M | $124M | $123M | |
| Long-term Debt | $165M | $147M | · | · | |
| Total Debt | $24M | $2M | $33M | · | |
| Common Stock | $16.0K | $14.0K | $7.0K | $3.0K | |
| Paid-in Capital | · | $314M | $278M | $191M | |
| Retained Earnings | $-457M | $-411M | $-355M | $-85M | |
| AOCI | $165.0K | $165.0K | $143.0K | $27.0K | |
| Stockholders' Equity | $-90M | $-98M | $-77M | $105M | |
| Liabilities + Equity | $241M | $144M | $47M | $228M | |
| Shares Outstanding | 111,334,959 | 73,784,645 | 49,065,361 | 19,932,429 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $3M | $2M | $930.0K | $648.0K | |
| Stock-based Comp | $10M | $3M | $3M | $433.0K | |
| Deferred Tax | $1M | · | · | · | |
| Amort. of Intangibles | $6M | $700.0K | · | · | |
| Other Non-cash | $15M | $-4M | · | · | |
| Operating Cash Flow | $-15M | $-55M | $-59M | $-32M | |
| CapEx | · | · | $35.0K | · | |
| Investing Cash Flow | $-19M | $-55M | $6M | $3M | |
| Stock Issued | $7M | $7M | $5M | · | |
| Net Stock Activity | $7M | · | $5M | $-19M | |
| Financing Cash Flow | $31M | $120M | $50M | $31M | |
| Net Change in Cash | $-4M | $11M | $-2M | $3M | |
| Taxes Paid | · | $10.0K | · | $-6.0K | |
| Free Cash Flow | · | · | $-59M | · | |
| Levered FCF | · | · | $-73M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Gross Margin | 43.1% | 36.3% | 20.3% | · | |
| Operating Margin | -9.0% | -63.0% | -59.8% | · | |
| Net Margin | -15.1% | -51.9% | -307.6% | · | |
| Pretax Margin | -14.2% | -50.1% | -109.8% | · | |
| EBITDA Margin | -8.0% | -60.5% | -59.8% | · | |
| ROA | -23.5% | -58.9% | -195.7% | 1.7% | |
| ROE | 46.0% | 47.0% | 422.5% | -39.5% | |
| ROIC | 42.4% | · | 120.3% | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 0.7 | 1.2 | 0.3 | 0.0 | |
| Quick Ratio | 0.1 | 0.5 | 0.3 | 0.0 | |
| Debt / Equity | -0.3 | -0.0 | -0.4 | · | |
| Interest Coverage | · | · | -3.7 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 1.6 | 1.1 | 0.6 | · | |
| Inventory Turnover | 12.9 | 5.5 | 8.7 | · | |
| Receivables Turnover | · | 4.2 | 3.2 | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue YoY | 175.9% | 24.1% | 31.8% | · | |
| Revenue CAGR 3Y | 65.2% | · | · | · |
Valuation (TTM) 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $300M | $109M | $88M | $66M | |
| Net Income TTM | $-45M | $-56M | $-270M | $-29M | |
| Market Cap | $39M | · | · | · | |
| Enterprise Value | $53M | · | · | · | |
| P/E | -0.7 | · | · | · | |
| P/S | 0.1 | · | · | · | |
| P/B | -0.4 | · | · | · | |
| P / Cash Flow | -2.5 | · | · | · | |
| EV / EBITDA | -2.2 | · | · | · | |
| EV / Revenue | 0.2 | · | · | · | |
| Earnings Yield | -149.6% | · | · | · |
Income Statement 17
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $73M | $80M | $64M | $66M | $78M | $89M | $6M | $4M | $10M | $21M | · | · | $18M | $12M | |
| Cost of Revenue | $28M | · | · | $42M | $51M | $47M | $9M | $5M | $8M | $18M | · | · | $13M | $8M | |
| Gross Profit | $45M | $28M | $32M | $24M | $27M | $41M | $-3M | $-892.0K | $2M | $3M | · | · | $5M | $4M | |
| SG&A Expense | $30M | $28M | $20M | $16M | $15M | $47M | $18M | $6M | $5M | $9M | · | · | $9M | $2M | |
| Operating Expenses | $64M | $50M | $34M | $33M | $31M | $63M | $27M | $9M | $10M | $19M | · | · | $14M | $7M | |
| Operating Income | $-19M | $-22M | $-2M | $-9M | $-4M | $-22M | $-30M | $-9M | $-8M | $-26M | $-2M | $-2M | $-16M | $-3M | |
| Interest Expense | $100.0K | · | $4M | · | · | · | $50.0K | · | $4M | · | · | · | $2M | $941.0K | |
| Interest Income | · | $0 | · | · | $3.0K | $-83.0K | $86.0K | $10.0K | $6.0K | $19.0K | $18 | $33 | $-2M | · | |
| Other Non-op | $31M | $11M | $-4M | $-12M | $15M | $74M | $-66M | $-2M | $2M | $-41M | $-1M | $2M | $-7M | $4.0K | |
| Pretax Income | $5M | $-13M | $-13M | $-27M | $5M | $47M | $-78M | $-14M | $-10M | $-23M | · | · | $-17M | $-4M | |
| Income Tax | $-608.0K | · | · | · | · | · | · | $10.0K | $1.0K | $-19.0K | · | · | $23.0K | · | |
| Net Income | $5M | $-14M | $-14M | $-27M | $5M | $47M | $-78M | $-16M | $-10M | $-235M | $-3M | $170.2K | $-29M | $-4M | |
| EPS (Basic) | $0.04 | $-0.15 | $-0.15 | $-0.34 | $0.06 | $0.64 | $-1.03 | $-0.26 | $-0.20 | $9.31 | · | · | $-0.48 | $-0.31 | |
| EPS (Diluted) | $0.00 | $-0.05 | $-0.15 | $-0.34 | $0.02 | $0.27 | $-1.03 | $-0.26 | $-0.20 | $9.31 | · | · | $-0.48 | $-0.31 | |
| Shares (Basic) | 124,279,055 | -158,733,403 | 84,593,644 | 81,176,254 | 80,209,585 | -118,881,125 | 75,348,627 | 61,111,005 | 49,077,330 | 7,753,391 | · | · | 9,471,033 | 13,431,410 | |
| Shares (Diluted) | 163,787,402 | -240,991,210 | 84,593,644 | 81,176,254 | 112,302,063 | -109,743,414 | 75,348,627 | 61,111,005 | 49,077,330 | 7,753,391 | · | · | 9,471,033 | 13,431,410 | |
| EBITDA | $-19M | · | $-996.0K | $-9M | $-2M | · | $-30M | $-9M | $-8M | · | $-2M | $-2M | · | $195.5K |
Balance Sheet 28
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $9M | $10M | $5M | $11M | $11M | $13M | $80M | $2M | $2M | $3M | · | · | $4M | $169.6K | |
| Receivables | · | · | $73M | $27M | $25M | · | $8M | $13M | $21M | $26M | · | · | $28M | · | |
| Inventory | $4M | $4M | $9M | $5M | $11M | $22M | $607.0K | $2M | $3M | $3M | · | · | $13M | · | |
| Prepaid Expense | $28M | $17M | $20M | $9M | $13M | $8M | $13M | $7M | $6M | $6M | · | · | $10M | $325.4K | |
| Other Current Assets | $11M | $10M | · | · | · | $4M | · | · | · | · | · | · | · | · | |
| Current Assets | $122M | $113M | $106M | $104M | $96M | $96M | $102M | $24M | $31M | $38M | $3.3K | $47.5K | $55M | $495.0K | |
| PP&E (Net) | $5M | $5M | $4M | $4M | $5M | $5M | $590.0K | $4M | $4M | $4M | · | · | $3M | · | |
| PP&E (Gross) | · | $9M | · | · | · | $6M | $793.0K | $9M | $8M | $8M | · | · | $6M | · | |
| Accum. Depreciation | · | $4M | · | · | · | $916.0K | $203.0K | · | · | $4M | · | · | · | · | |
| Goodwill | $76M | $63M | $42M | $18M | $18M | $18M | · | · | · | · | · | · | · | · | |
| Intangibles | $52M | $51M | $39M | $16M | $17M | $17M | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $2M | $2M | $1M | $890.0K | $614.0K | $628.0K | $154.0K | $198.0K | $198.0K | $198.0K | · | · | $1M | · | |
| Total Assets | $262M | $241M | $199M | $149M | $143M | $144M | $108M | $33M | $41M | $47M | $118M | $117M | $228M | $348M | |
| Accounts Payable | $28M | $26M | $20M | $17M | $15M | $8M | $5M | $11M | $11M | $13M | $7M | $6M | $14M | $3M | |
| Short-term Debt | · | $24M | $198M | $151M | $2M | · | $3M | $30M | $36M | · | · | · | $0 | · | |
| Current Liabilities | $172M | $155M | $119M | $98M | $87M | $79M | $42M | $113M | $117M | $109M | $10M | $9M | $60M | $3M | |
| Capital Leases | · | $3M | $1M | $2M | $2M | $2M | $382.0K | $445.0K | $543.0K | $664.0K | · | · | $1M | · | |
| Other Non-current Liabilities | $8M | $6M | $13M | $8M | $8M | $11M | · | $3M | $3M | · | · | · | $3M | · | |
| Total Liabilities | $324M | $331M | $316M | $262M | $235M | $242M | $251M | $125M | $126M | $124M | $20M | $15M | $123M | $17M | |
| Long-term Debt | · | $165M | $204M | $151M | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | · | · | $198M | $151M | $2M | · | $3M | $30M | $36M | · | · | · | · | · | |
| Common Stock | $16.0K | $16.0K | $14.0K | $14.0K | $14.0K | $14.0K | $14.0K | $13.0K | $7.0K | $7.0K | · | · | $3.0K | · | |
| Paid-in Capital | · | · | · | $320M | · | · | · | · | $279M | · | $244.4K | $2M | $191M | · | |
| Retained Earnings | $-451M | $-457M | $-448M | $-434M | $-407M | $-411M | $-458M | $-380M | $-365M | $-355M | $-20M | $-17M | $-85M | $-17M | |
| AOCI | $165.0K | $165.0K | $165.0K | $165.0K | $165.0K | $165.0K | $165.0K | $165.0K | $98.0K | $143.0K | · | · | $27.0K | · | |
| Stockholders' Equity | $-61M | $-90M | $-118M | $-114M | $-92M | $-98M | $-143M | $-92M | $-85M | $-77M | $-20M | $-15M | $105M | $-17M | |
| Liabilities + Equity | $262M | $241M | $199M | $149M | $143M | $144M | $108M | $33M | $41M | $47M | $118M | $117M | $228M | $348M | |
| Shares Outstanding | 120,347,463 | 111,334,959 | 88,714,258 | 82,189,469 | 80,020,836 | 73,784,645 | 72,977,921 | 63,044,287 | 49,096,537 | 49,065,361 | · | · | 19,932,429 | · |
Cash Flow 14
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $4M | $-1M | $600.0K | $1M | $2M | $1M | $305.0K | $329.0K | $357.0K | $308.0K | · | · | $185.0K | · | |
| Stock-based Comp | $2M | $2M | $4M | $4M | $469.0K | $-1M | $2M | $1M | $1M | $1M | · | · | · | · | |
| Deferred Tax | $-608.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Amort. of Intangibles | $3M | $4M | $700.0K | $700.0K | $700.0K | $700.0K | $0 | $0 | · | · | · | · | · | $17.0K | |
| Other Non-cash | · | · | · | · | $-9M | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-26M | $-2M | $-6M | $-4M | $-3M | $-26M | $-21M | $-3M | $-5M | $-12M | · | $-525.4K | $-14M | $-16M | |
| CapEx | · | · | · | · | · | · | · | · | · | $6.0K | · | · | · | · | |
| Investing Cash Flow | $553.0K | $1M | · | · | · | $-54M | $-161.0K | $-347.0K | $-536.0K | $8M | · | $236M | $4M | · | |
| Net Debt Issued | $-5M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Issued | $7M | $5M | · | · | · | $551.0K | · | · | · | · | $0 | $-237M | · | $44M | |
| Net Stock Activity | $7M | · | · | · | · | · | · | · | · | · | · | $-237M | · | · | |
| Financing Cash Flow | $22M | $5M | $21M | $5M | $-198.0K | $13M | $99M | $3M | $5M | $5M | · | $-236M | $17M | $13M | |
| Net Change in Cash | $-3M | $5M | $-6M | $572.0K | $-3M | $-66M | $78M | $62.0K | $-801.0K | $997.0K | · | · | $8M | · | |
| Taxes Paid | · | · | · | · | · | $0 | $0 | · | · | · | · | · | $32.0K | · |
Profitability 8
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.4% | · | 49.7% | 36.0% | 34.9% | · | -57.0% | -19.9% | 22.7% | · | · | · | · | · | |
| Operating Margin | -26.4% | · | -2.5% | -13.5% | -4.8% | · | -541.4% | -211.4% | -75.1% | · | · | · | · | · | |
| Net Margin | 7.2% | · | -21.2% | -41.3% | 6.1% | · | -1408.2% | -353.8% | -95.5% | · | · | · | · | · | |
| Pretax Margin | 6.4% | · | -19.5% | -41.3% | 6.1% | · | -1408.2% | -308.9% | -95.5% | · | · | · | · | · | |
| EBITDA Margin | -26.4% | · | -1.5% | -13.5% | -2.7% | · | -541.4% | -211.4% | -75.1% | · | · | · | · | · | |
| ROA | 2.6% | · | -8.9% | -30.0% | 5.2% | · | -86.6% | -20.9% | -12.2% | · | -1.1% | 0.07% | · | 0.98% | |
| ROE | -6.8% | · | 10.5% | 26.6% | -5.4% | · | 80.6% | 28.4% | 19.1% | · | 13.8% | -0.95% | · | -18.2% | |
| ROIC | 35.3% | · | · | · | · | · | · | 15.4% | 15.3% | · | · | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | · | 0.9 | 1.1 | 1.1 | · | 2.5 | 0.2 | 0.3 | · | 0.0 | 0.0 | · | 0.2 | |
| Quick Ratio | 0.1 | · | 0.7 | 0.4 | 0.4 | · | 2.1 | 0.1 | 0.2 | · | · | · | · | 0.1 | |
| Debt / Equity | · | · | -1.7 | -1.3 | -0.0 | · | -0.0 | -0.3 | -0.4 | · | · | · | · | · | |
| Interest Coverage | -191.9 | · | -0.4 | · | · | · | -599.4 | · | -2.1 | · | · | · | · | · |
Efficiency 3
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | · | 0.4 | 0.7 | 0.9 | · | 0.1 | 0.1 | 0.1 | · | · | · | · | · | |
| Inventory Turnover | 3.8 | · | · | 12.6 | 7.6 | · | 1.3 | 5.3 | 5.6 | · | · | · | · | · | |
| Receivables Turnover | · | · | 1.6 | 3.3 | 3.4 | · | 0.3 | 0.7 | 1.0 | · | · | · | · | · |
Valuation (TTM) 8
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $282M | · | $215M | $155M | $98M | · | $45M | $65M | $77M | · | · | · | · | · | |
| Net Income TTM | $-31M | · | $-114M | $-116M | $-99M | · | $-310M | $-244M | $-231M | · | $-30M | $-654.6K | · | $5M | |
| Market Cap | $22M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | -0.4 | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/S | 0.1 | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/B | -0.4 | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | -0.8 | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -261.1% | · | · | · | · | · | · | · | · | · | · | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-28 | 2024-12-29 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $300M | $109M | $88M | $66M | — |
| Gross Margin % | 43.1% | 36.3% | 20.3% | — | — |
| Operating Margin % | -9.0% | -63.0% | -59.8% | — | — |
| Net Income | $-45M | $-56M | $-270M | $-29M | $5M |
| Diluted EPS | $-0.52 | $-1.22 | $-4.94 | $-1.31 | — |
Balance Sheet
| 2025-12-28 | 2024-12-29 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | -0.3 | -0.0 | -0.4 | — | — |
| Current Ratio | 0.7 | 1.2 | 0.3 | 0.0 | 0.4 |
| Quick Ratio | 0.1 | 0.5 | 0.3 | 0.0 | 0.1 |
Cash Flow
| 2025-12-28 | 2024-12-29 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | $-59M | — | — |
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Institutional owners (13F) 34 filers · $502K total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 0 (-1 vs prior Q) | 1 (-3 vs prior Q) | 0 (-2 vs prior Q) | 3 (-2 vs prior Q) | -88K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Clear Street Derivatives LLC | $117,836 | 362,014 | 23.49% | Shares |
| Park West Asset Management LLC | $82,574 | 600,105 | 16.46% | Shares |
| ARISTEIA CAPITAL, L.L.C. | $43,784 | 279,682 | 8.73% | Shares |
| Sculptor Capital LP | $39,828 | 289,449 | 7.94% | Shares |
| PEAK6 LLC | $28,590 | 207,774 | 5.70% | Shares |
| SECURITY BENEFIT LIFE INSURANCE CO /KS/ | $21,000 | 150,000 | 4.19% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $19,755 | 141,110 | 3.94% | Shares |
| CSS LLC/IL | $17,909 | 130,155 | 3.57% | Shares |
| MILLENNIUM MANAGEMENT LLC | $17,399 | 126,447 | 3.47% | Call option |
| Shaolin Capital Management LLC | $13,760 | 100,000 | 2.74% | Shares |
| Oasis Management Co Ltd. | $12,394 | 18,033 | 2.47% | Shares |
| DEUTSCHE BANK AG\ | $10,500 | 75,000 | 2.09% | Call option |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $8,750 | 62,500 | 1.74% | Shares |
| CAAS CAPITAL MANAGEMENT LP | $7,500 | 37,500 | 1.50% | Shares |
| TORONTO DOMINION BANK | $6,900 | 50,000 | 1.38% | Shares |
| ANGELO GORDON & CO., L.P. | $6,000 | 25,000 | 1.20% | Call option |
| Calamos Advisors LLC | $5,950 | 42,500 | 1.19% | Shares |
| JANE STREET GROUP, LLC | $5,666 | 41,180 | 1.13% | Shares |
| OMERS ADMINISTRATION Corp | $5,250 | 37,500 | 1.05% | Shares |
| VR Advisory Services Ltd | $5,160 | 37,500 | 1.03% | Shares |
| LMR Partners LLP | $5,160 | 37,500 | 1.03% | Shares |
| TPG GP A, LLC | $3,440 | 25,000 | 0.69% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $3,440 | 25,000 | 0.69% | Shares |
| TENOR CAPITAL MANAGEMENT Co., L.P. | $3,312 | 24,072 | 0.66% | Shares |
| Limestone Investment Advisors LP | $2,074 | 15,076 | 0.41% | Shares |
| ZAZOVE ASSOCIATES LLC | $1,773 | 11,327 | 0.35% | Shares |
| DUPONT CAPITAL MANAGEMENT CORP | $1,750 | 12,500 | 0.35% | Shares |
| D. E. Shaw & Co., Inc. | $1,733 | 12,382 | 0.35% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,712 | 12,500 | 0.34% | Shares |
| CLEAR STREET LLC | $486 | 1,493 | 0.10% | Shares |
| Clear Street Group Inc. | $192 | 1,393 | 0.04% | Shares |
| Athos Capital Ltd | $20 | 28,420 | 0.00% | Shares |
| Mint Tower Capital Management B.V. | $2 | 12,500 | 0.00% | Shares |
| Vestcor Inc | $0 | 1,250 | 0.00% | Shares |
Company insiders 3 insiders · 2 officers · 2 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Thurman J. Rodgers | Chief Executive Officer | July 1, 2026 P | 2,471,485 | 0 | 0 | $0 |
| Tom Kowalczuk | Chief Financial Officer | June 30, 2026 A | 1,000,000 | 0 | 0 | $0 |
| Daniel J Mccranie | Director | July 1, 2026 P | 93,650 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Thurman J. Rodgers, Rodgers Capital LLC, TJ Rodgers 2012 Irrevocable Trust dtd 12/26/12, Valeta Massey 2012 Irrevocable Trust dtd 12/26/12, Rodgers Family Freedom and Free Markets Charitable Trust, Rodgers Massey Revocable Living Trust dtd 4/4/11 ×2 filings | July 6, 2026 | 39.40% | Amendment | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.