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SunPower Reports First Quarter 2021 Results FOR IMMEDIATE RELEASE . Contacts : Investors Bob Okunski 408-240-5447 Bob.Okunski@sunpower.com Media Sarah Spitz 832-444-7151 Sarah.Spitz@sunpower.com Appointed digital and customer experience veteran Peter Faricy as CEO Total year - over - year bookings growth of greater than 30 percent Gross margin dollar expansion across both businesses - 60 percent year - over - year growth SAN JOSE , Calif . , May 5 , 2021 - SunPower Corp. ( NASDAQ : SPWR ) , a leading solar technology and energy services provider , today announced financial results for its first quarter ended April 4 , 2021 . " While demand is soaring , less than three percent of U.S. homes currently have solar and storage and penetration is still in its infancy . To significantly increase category growth , the adoption of distributed energy needs to be easy , reliable and affordable , " said Peter Faricy , CEO of SunPower . " SunPower has the deepest history and strongest residential and commercial products in the business , and we see customer experience and digital product innovation as the keys to our future success . We believe we are well positioned to accelerate and lead the next era of solar . " " Specifically , our solid first quarter results reflect the continued strong demand for our industry - leading solar and storage solutions in both our residential and commercial markets , " said Faricy . " We continue to see homeowners and businesses across the country looking for cleaner , lower - cost energy with resiliency becoming a critical factor in their decisions . SunPower is delivering the industry's leading solutions today while investing in the highest growth markets including storage , energy services , and expanding our community solar efforts . With these strategic initiatives and favorable national policy proposals , we are on track to achieve our 2021 goals and drive growth in 2022 and beyond . " Residential and Light Commercial ( RLC ) Residential strength - 22 percent gross margin , $ 25 million Adjusted EBITDA • Overall bookings up 25 percent , record new homes bookings • Strong success in shifting residential mix to more full systems sales ( 55 percent in Q121 ) • Progress on addressable market expansion initiatives such as multi - family , loan servicing , long tail Commercial and Industrial Solutions ( C & I Solutions ) Revenue growth of > 20 percent , year - over - year ( YOY ) megawatts ( MW ) growth of 34 percent , backlog above 275 MW Strong bookings momentum - up 50 percent compared to Q1 2020 Helix storage- > 20 MWh Front of the Meter ( FTM ) storage under contract , > 400 MWh awarded or shortlisted