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If it's 100% employee owned, does that mean SparkFun is a co-op?

A cooperative[0] is usually operated and run for the mutual benefit of it's members. So for example, a credit union co-op provides services by members, and for members.

Since Sparkfun provides the majority of it's services to non-members, it's unlikely that it would fit the bill of a co-op.

[0] - https://en.wikipedia.org/wiki/Cooperative

This isn't true -- there are worker cooperatives, where workers own the means of production and sell the goods to others: https://en.wikipedia.org/wiki/Worker_cooperative

Which isn't to say that Sparkfun is a coop -- I don't think it is, just a bootstrapped company where the equity has stayed within the hands of founders/employees.

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