SunPower (herein "SunPower," the "Company" or Nasdaq: "SPWR") – a solar technology, services, and installation company – today announced that it has agreed to acquire Ambia Solar ("Ambia"), based in Lindon, Utah, just 1.7 miles from SunPower's HQ. Ambia is the No. 19 U.S. solar company by installed megawatts as reported by Ohm Analytics. The companies have signed a non-binding LOI for $37.5 million in equity. The transaction will close this quarter (Q4'25), subject to customary closing conditions. (The verb "will" in this press release should be interpreted as "will pursue the result stated in a definitive agreement scheduled for Q4'25 and act vigorously to achieve that agreement thereafter." It will also serve to highlight planned changes to investors and management alike.)

Based on three quarters of actual results and with one month left in Q4'25, Ambia's 2025E revenue forecast is $83.6 million. The equivalent 2025E revenue forecast for SunPower is $303.4 million.