Maxeon Solar Technologies announced its financial results for the six months ended June 30, 2025, on August 14, 2025, reporting a significant revenue drop to $39.041 million. This represents a steep decline from $371.675 million reported in the first half of 2024, indicating severe market and operational challenges.
The company's shipments for the first half of 2025 were 153.2 MW, a substantial decrease from 1,014 MW in the first half of 2024. Despite the revenue decline, the GAAP gross loss improved slightly to $(14.809) million from $(22.656) million in H1 2024, and the Adjusted EBITDA also showed improvement at $(48.562) million compared to $(87.013) million in H1 2024.
CEO George Guo stated that the results continue to reflect challenges from U.S. Customs & Border Protection (CBP)'s exclusion of solar panels from U.S. import since July 2024. Maxeon filed a complaint with the U.S. Court of International Trade (CIT) on July 15, challenging CBP's actions. The company will continue to defer providing financial guidance and holding conference calls due to ongoing restructuring and macroeconomic uncertainties.
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