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v3.25.4

Segment Information (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 28, 2025 | Dec. 29, 2024
Segment Information [Abstract] |  |
Schedule of Financial Performance through Reportable Segments | This segment performs solar system installations for new home builders.
|  | 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.
| 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.
Schedule of Assets by 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 |

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