XML 43 R21.htm IDEA: XBRL DOCUMENT
v3.25.4

Segment Information | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 28, 2025 | Dec. 29, 2024
Segment Information [Abstract] |  |
Segment Information | (15) Segment Information The segment information is presented on a basis that is consistent with the Company’s internal management reporting. The Company’s Chief Executive Officer (“CEO”) is the Chief Operating Decision Maker (“CODM”). The CODM manages the Company and reports financial results based on three reportable segments which are the same as the Company’s operating segments. The CODM evaluates the performance of these reportable segments and allocates resources to make operating decisions based on certain financial information, including segmented internal income/(loss) prepared on a basis consistent with U.S. GAAP. The measurement criteria is based on their operating revenue and operating income (loss) and excluding any corporate costs which are not allocatable to the operating segments. The CODM’s measurement criteria does not include segment assets. During the periods presented, the Company reported its financial performance through the following three reportable segments; Residential Solar Installation, New Homes Business and Sunder. Residential Solar Installation. This segment performs solar system, storage and battery installations for residential homeowners. New Homes Business. This segment is new, as a result of the SunPower Acquisition which occurred in the fourth quarter of fiscal 2024. The Company developed a method to allocate direct expenses for the respective reportable segments. This segment performs solar system installations for new home builders. Sunder. This segment is new beginning in fiscal year 2025, as a result of the Sunder Acquisition which occurred late in the third quarter of fiscal 2025. This segment’s principal activity is a solar energy sales force to initiate and execute contracts with customers throughout the United States.
|  | Thirteen Weeks Ended |
|  | September 28, 2025 |  |  | September 29, 2024 |
(in thousands) |  | Residential Solar Installation |  |  | New Homes Business |  |  | Sunder |  |  | Total |  |  | Residential Solar Installation |  |  | New Homes Business |  |  | Sunder |  |  | Total |
Operating revenues |  | $ | 38,579 |  |  | $ | 27,116 |  |  |  | 4,310 |  |  | $ | 70,005 |  |  | $ | 5,536 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,536 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  |  | 20,984 |  |  |  | 13,329 |  |  |  | 3,652 |  |  |  | 37,965 |  |  |  | 8,693 |  |  |  | — |  |  |  | — |  |  |  | 8,693 |
Sales commissions |  |  | 7,479 |  |  |  | 55 |  |  |  | — |  |  |  | 7,534 |  |  |  | 7,270 |  |  |  | — |  |  |  | — |  |  |  | 7,270 |
Sales and marketing |  |  | 4,781 |  |  |  | 1,686 |  |  |  | — |  |  |  | 6,467 |  |  |  | 1,093 |  |  |  | — |  |  |  | — |  |  |  | 1,093 |
General and administrative(1) |  |  | 12,240 |  |  |  | 9,243 |  |  |  | — |  |  |  | 21,483 |  |  |  | 18,450 |  |  |  | — |  |  |  | — |  |  |  | 18,450 |
Operating (loss) income from continuing operations |  |  | (6,905 | ) |  |  | 2,803 |  |  |  | 658 |  |  |  | (3,444 | ) |  |  | (29,970 | ) |  |  | — |  |  |  | — |  |  |  | (29,970 | )
Reconciliation of segment (loss) income from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,104 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,338 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 86 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,256 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (65,684 | )
Gain on extinguishment of debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19,948 |
(Loss) from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (15,804 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (77,958 | )
(1) | For the thirteen weeks ended September 28, 2025, depreciation and amortization expense was $1.0 million, $0.3 million, and zero for the Residential Solar Installation, New Homes Business and Sunder reportable segments, respectively. For the thirteen weeks ended September 29, 2024, depreciation and amortization expense was $0.3 million for the Residential Solar Installation reportable segment.
|  | Thirty-Nine Weeks Ended |
|  | September 28, 2025 |  |  | September 29, 2024 |
(in thousands) |  | Residential Solar Installation |  |  | New Homes Business |  |  | Sunder |  |  | Total |  |  | Residential Solar Installation |  |  | New Homes Business |  |  | Sunder |  |  | Total |
Operating revenues |  | $ | 114,097 |  |  | $ | 101,862 |  |  |  | 4,310 |  |  | $ | 220,269 |  |  | $ | 20,068 |  |  | $ | — |  |  | $ | — |  |  | $ | 20,068 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  |  | 67,388 |  |  |  | 55,930 |  |  |  | 3,652 |  |  |  | 126,970 |  |  |  | 21,834 |  |  |  | — |  |  |  | — |  |  |  | 21,834 |
Sales commissions |  |  | 22,882 |  |  |  | 1,391 |  |  |  | — |  |  |  | 24,273 |  |  |  | 11,691 |  |  |  | — |  |  |  | — |  |  |  | 11,691 |
Sales and marketing |  |  | 19,591 |  |  |  | 2,173 |  |  |  | — |  |  |  | 21,764 |  |  |  | 3,762 |  |  |  | — |  |  |  | — |  |  |  | 3,762 |
General and administrative(1) |  |  | 32,782 |  |  |  | 19,600 |  |  |  | — |  |  |  | 52,382 |  |  |  | 29,789 |  |  |  | — |  |  |  | — |  |  |  | 29,789 |
Operating (loss) income from continuing operations |  |  | (28,546 | ) |  |  | 22,768 |  |  |  | 658 |  |  |  | (5,120 | ) |  |  | (47,008 | ) |  |  | — |  |  |  | — |  |  |  | (47,008 | )
Reconciliation of segment (loss) income from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (23,258 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,230 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 102 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,724 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (66,234 | )
Gain on extinguishment of debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19,948 |
(Loss) from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (30,099 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (101,422 | )
(1) | In the thirty-nine weeks ended September 28, 2025, depreciation and amortization expense was $3.4 million, $0.9 million and zero for the Residential Solar Installation, New Homes Business and Sunder reportable segments, respectively. In the thirty-nine weeks ended September 29, 2024, depreciation and amortization expense was $1.0 million for the Residential Solar Installation reportable segment.
| (22) Segment Information The segment information is presented on a basis that is consistent with the Company’s internal management reporting. The Company’s Chief Executive Officer (“CEO”) is the Chief Operating Decision Maker (“CODM”). The CODM manages the Company and report financial results based on two reportable segments which are the same as our operating segments. CODM evaluates the performance of these reportable segments and allocates resources to make operating decisions based on certain financial information, including segmented internal income/(loss) from continuing operations prepared on a basis consistent with U.S. GAAP. The measurement criteria is based on their operating revenue and operating income (loss) and excluding any corporate costs which are not allocatable to the operating segments. The CODM’s measurement criteria does not include segment assets. During the periods presented, the Company reported its financial performance through the following two reportable segments; Residential Solar Installation and New Homes Business. Residential Solar Installation. This segment performs solar system, storage and battery installations for residential homeowners. New Homes Business. This segment is new in fiscal year 2024 as a result of the SunPower Acquisition which occurred in the fourth quarter of fiscal 2024. The Company developed a method to allocate direct expenses for the respective reportable segments. This segment performs solar system installations for new home builders.
|  | Fiscal Year Ended December 29, 2024 |
(in thousands) |  | Residential Solar Installation |  |  | New Homes Business |  |  | Total |
Operating revenues |  | $ | 67,460 |  |  | $ | 41,282 |  |  | $ | 108,742 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  |  | 45,266 |  |  |  | 23,974 |  |  |  | 69,240 |
Sales commissions |  |  | 23,388 |  |  |  | 1,202 |  |  |  | 24,590 |
Sales and marketing |  |  | 6,827 |  |  |  | - |  |  |  | 6,827 |
General and administrative (1) |  |  | 9,805 |  |  |  | 3,232 |  |  |  | 13,037 |
Operating income (loss) |  |  | (17,826 | ) |  |  | 12,874 |  |  |  | (4,952 | )
Reconciliation of segment loss from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |
General corporate expense |  |  | - |  |  |  | - |  |  |  | (63,557 | )
Interest expense |  |  | - |  |  |  | - |  |  |  | (16,223 | )
Interest income |  |  | - |  |  |  | - |  |  |  | 19 |
Other income (expense), net |  |  | - |  |  |  | - |  |  |  | 7,932 |
Gain on troubled debt restructuring |  |  | - |  |  |  | - |  |  |  | 22,337 |
Loss from continuing operations before taxes |  | $ | - |  |  | $ | - |  |  | $ | (54,444 | )
| (1) | For the year ended December 29, 2024, depreciation and amortization expense was $2.6 million and $0.1 million for the Residential Solar Installation and New Homes Business reportable segments, respectively.
|  | Fiscal Year Ended December 31, 2023 |
(in thousands) |  | Residential Solar Installation |  |  | New Homes Business |  |  | Total |
Operating revenues |  | $ | 87,616 |  |  | $ | - |  |  | $ | 87,616 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  |  | 69,828 |  |  |  | - |  |  |  | 69,828 |
Sales commissions |  |  | 31,127 |  |  |  | - |  |  |  | 31,127 |
Sales and marketing |  |  | 6,920 |  |  |  | - |  |  |  | 6,920 |
General and administrative (1) |  |  | 32,099 |  |  |  | - |  |  |  | 32,099 |
Operating income (loss) |  |  | (52,358 | ) |  |  | - |  |  |  | (52,358 | )
Reconciliation of segment loss from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |
General corporate expense |  |  | - |  |  |  | - |  |  |  | - |
Interest expense |  |  | - |  |  |  | - |  |  |  | (14,033 | )
Interest income |  |  | - |  |  |  | - |  |  |  | 36 |
Other income (expense), net |  |  | - |  |  |  | - |  |  |  | (29,862 | )
Gain on troubled debt restructuring |  |  | - |  |  |  | - |  |  |  | - |
Loss from continuing operations before taxes |  | $ | - |  |  | $ | - |  |  | $ | (96,217 | )
| (1) | For the year ended December 31, 2023, depreciation and amortization expense was $0.9 million for the Residential Solar Installation reportable segment.
Assets by segment are as follows (in thousands):
|  | As of |
|  | December 29, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Residential Solar Installation |  | $ | 66,145 |  |  | $ | 47,322 |
New Homes Business |  |  | 78,321 |  |  |  | - |
Total assets |  | $ | 144,466 |  |  | $ | 47,322 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration