Maxeon Solar Technologies, Ltd. income statement MAXNQ
In fiscal 2024, which ended Dec 31, 2024, Maxeon Solar Technologies, Ltd. reported revenue of $509.0 million, down 54.7% from the year before. It recorded a net loss of $614.3 million. The operating loss came to $576.6 million, an operating margin of -113.3%. Diluted earnings per share were -$96.00. Across the 5 fiscal years shown, revenue shrank from $844.8 million in fiscal 2020 to $509.0 million in fiscal 2024, about 11.9% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2024
Dec 31, 2024
|
FY 2023
Dec 31, 2023
|
FY 2022
Jan 1, 2023
|
FY 2021
Jan 2, 2022
|
FY 2020
Jan 3, 2021
|
|---|---|---|---|---|---|
| Revenue |
509
-54.7%
|
1,123
+5.9%
|
1,060
+35.3%
|
783
-7.3%
|
845
|
| Cost of revenue |
758
-27.4%
|
1,045
-5.7%
|
1,108
+36.4%
|
812
-5.0%
|
855
|
| Gross profit |
-249
-419.3%
|
78
+262.9%
|
-48
-65.3%
|
-29
-196.6%
|
-10
|
| Research and development |
38
-17.8%
|
46
-8.0%
|
50
+6.8%
|
47
+36.1%
|
34
|
| Selling, general and administrative |
174
+37.5%
|
126
+25.5%
|
101
+13.2%
|
89
+3.0%
|
86
|
| Restructuring and impairment |
116
-7.4%
|
125
+5823.0%
|
2
-73.8%
|
8
|
0
|
| Operating expenses |
327
+10.1%
|
297
+95.2%
|
152
+6.2%
|
143
+19.1%
|
120
|
| Operating income |
-577
-163.1%
|
-219
-9.4%
|
-200
-16.1%
|
-172
-32.5%
|
-130
|
| Other income (expense) |
-20
+63.2%
|
-54
-112.3%
|
-26
+61.6%
|
-67
-1583.7%
|
4
|
| Pretax income |
-597
-118.1%
|
-274
-21.1%
|
-226
+5.5%
|
-239
-90.2%
|
-126
|
| Income tax |
18
+2967.7%
|
-1
-101.9%
|
32
+15757.6%
|
0
-98.3%
|
12
|
| Net income |
-614
-129.7%
|
—
|
-267
-5.1%
|
-255
-78.4%
|
-143
|
| Basic EPS |
-96.00
+83.9%
|
-594.46
+9.1%
|
-653.85
-9529.6%
|
-6.79
|
—
|
| Diluted EPS |
-96.00
+83.9%
|
-594.46
+9.1%
|
-653.85
-9529.6%
|
-6.79
|
—
|
| Weighted average shares, basic |
6
+1279.1%
|
0
+13.4%
|
0
-98.9%
|
37
|
—
|
| Weighted average shares, diluted |
6
+1279.1%
|
0
+13.4%
|
0
-98.9%
|
37
|
—
|
| Other measures | |||||
| Depreciation and amortization |
43
-22.2%
|
56
-1.5%
|
57
+34.4%
|
42
-10.8%
|
47
|
| EBITDA |
-533
-226.5%
|
-163
-13.8%
|
-144
-10.2%
|
-130
-57.2%
|
-83
|
| Interest coverage |
-12.71x
|
—
|
—
|
—
|
—
|
| Margins | |||||
| Gross margin |
-49.00%
|
6.96%
|
-4.52%
|
-3.70%
|
-1.16%
|
| Operating margin |
-113.28%
|
-19.52%
|
-18.89%
|
-22.02%
|
-15.41%
|
| Pretax margin |
-117.20%
|
-24.35%
|
-21.31%
|
-30.52%
|
-14.88%
|
| Profit margin |
-120.68%
|
—
|
-25.23%
|
-32.49%
|
-16.88%
|
| EBITDA margin |
-104.74%
|
-14.54%
|
-13.54%
|
-16.63%
|
-9.81%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Semiconductors & Related Devices (SIC 3674)
- Listed as
- MAXNQ
- Fiscal year ends
- December 31
- Incorporated in
- Singapore
- Headquarters
- Singapore
- SEC filer status
- Accelerated filer
- SEC CIK
- 1796898
- Former names
- Maxeon Solar Technologies, Ltd. (until Oct 2, 2026); Maxeon Solar Technologies, Pte. Ltd. (until Jul 2, 2020)
Other Semiconductors & Related Devices companies
- Nvidia Corp NVDA
- Broadcom Inc. AVGO
- Micron Technology Inc MU
- Advanced Micro Devices Inc AMD
- Intel Corp INTC
- Applied Materials Inc /DE AMAT
- Texas Instruments Inc TXN
- Arm Holdings PLC /UK ARM
Source: SEC EDGAR filings. This is company-reported data, not investment advice.