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OREM, Utah - Complete Solaria, Inc., known as SunPower, a prominent solar technology and installation company with a current market capitalization of $143.85 million, announced today its rebranding and a change in its ticker symbol. Trading at $1.95 per share, the company’s stock will trade under the new symbols SPWR and SPWRW on the Nasdaq, starting from April 22, 2025.
SunPower, with a history dating back to 1985, has been a key player in the solar industry for 40 years, crossing the $1 billion revenue mark in 2008. The company is recognized for its innovation, contributions to research and development, and setting quality standards in the solar sector.
T.J. Rodgers, Chairman and CEO, expressed his enthusiasm about the rebranding, which he described as the next chapter in the company’s history. He emphasized SunPower’s commitment to maintaining its reputation for operational excellence and leading technology.
The rebranding includes the introduction of a new logo, Helios, inspired by NASA’s Helios solar-powered airplane. This aircraft, which set an altitude record in 2001 using SunPower solar cells, serves as a symbol of the company’s innovative spirit.
SunPower is set to present its full-year 2024 audited financial results and the first quarter of 2025 unaudited results in an upcoming webcast scheduled for April 30, 2025, at 1:00pm EDT. According to InvestingPro data, the company faces significant financial challenges with negative EBITDA of -$61.76 million, though it maintains a healthy current ratio of 2.46, indicating sufficient liquidity to meet short-term obligations.
As a leading provider of residential solar services in North America, SunPower supports customers transitioning to energy-efficient lifestyles through its digital platform and installation services. InvestingPro analysis reveals 13 additional key insights about SunPower’s performance and prospects, available exclusively to subscribers, including detailed financial health metrics and growth indicators.
This rebranding initiative was based on a press release statement issued by SunPower.
In other recent news, Complete Solaria Inc. reported its financial results for the fourth quarter of 2024, with revenue reaching $81.1 million and a net loss of $5.94 million. Despite the losses, the company is focusing on strategic cost reductions and aims to achieve operating income breakeven by the first quarter of 2025. Complete Solaria has also announced a change to its fiscal year-end, aligning it with industry standards, effective from December 29, 2024. The company continues to integrate assets acquired from SunPower Corporation, with the goal of leveraging these assets for growth in the commercial and residential solar markets.
Complete Solaria’s Board of Directors has scheduled the 2025 Annual Meeting of Stockholders for May 15, 2025, with a record date set for March 31, 2025. The company has also reduced its headcount significantly as part of its cost-cutting measures. Analysts have shown interest in the company’s plans to leverage the SunPower brand and its strategic focus on technology and acquisitions. The company’s leadership, including CEO T.J. Rogers, remains committed to overcoming current challenges and rebuilding the company. The company projects a revenue of $82 million for the first quarter of 2025, indicating a positive outlook for the coming months.
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