Complete Solaria Reports 1,403% Revenue Growth but Incurred $22.4 Million Net Loss

Complete Solaria, Inc. reported significant financial growth in its latest quarterly filing, with revenues reaching $67.5 million for the thirteen weeks ended June 29, 2025, compared to just $4.5 million during the same period in 2024. This represents a remarkable increase of 1,403%. For the twenty-six weeks ended June 29, 2025, the company generated $150.3 million in revenue, up from $14.5 million in the prior year, marking a 934% increase. The substantial revenue growth is attributed primarily to the acquisition of certain assets from SunPower, which expanded the company's operational capacity and market reach.

Despite the revenue surge, Complete Solaria reported a net loss of $22.4 million for the most recent quarter, an increase from a loss of $13.9 million in the same quarter last year. The loss from continuing operations for the twenty-six weeks was $14.3 million, a decrease from $23.5 million in the prior year. The increase in losses is largely due to rising operating expenses, which totaled $31.5 million for the quarter, compared to $8.6 million in the previous year. This increase was driven by higher sales commissions, marketing expenses, and general administrative costs, reflecting the company's efforts to scale its operations post-acquisition.

Operationally, Complete Solaria has made strides in expanding its customer base and geographic footprint. The company reported a significant increase in installations, with approximately 977 installations in the Residential Solar Installation segment and 1,502 in the New Homes Business segment during the quarter. The total customer count has also grown, reflecting the company's enhanced market presence following the SunPower acquisition. As of June 29, 2025, the company had 83,108,708 shares of common stock outstanding, indicating a potential increase in shareholder engagement and investment interest.

Looking ahead, Complete Solaria's management has expressed optimism about future growth, focusing on expanding installation capacity and developing new geographic markets. The company aims to leverage its partnerships with national-scale sales partners to enhance revenue and margins. However, the filing also highlighted concerns regarding liquidity, as the company has incurred recurring losses and negative cash flows from operations, raising substantial doubt about its ability to continue as a going concern. Management plans to seek additional funding to support operations and execute its growth strategy, while also addressing the material weaknesses in internal controls identified in the report.