SunPower CEO, T.J. Rodgers, commented, “My last shareholder letter presented models for the impact on the solar industry of losing the 30% ITC tax subsidy. That market elasticity model showed that our then-current revenue of about $80 million per quarter would shrink to $74.6 million when the effective ITC price increase cooled down the market in Q1’26. We then extended the model to study bigger quarterly revenue reductions to $71 million, at which the company still would be profitable. However, our Q2’25 actual revenue dropped to $67.5 million, further and faster than our predictions, but we still made a $2.42 million operating profit – due to a vigorous effort in reducing our operating expense from $21.9 million in Q1’25 to $17.3 million in Q2’25, a full $4.6 million improvement. In addition, we focused on our most profitable market segments, which raised gross margin from 39% to 43%.
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