Complete Solaria, Inc. reported significant financial improvements in its latest quarterly filing, with revenues reaching $82.7 million for the thirteen weeks ended March 30, 2025, a substantial increase of 724% compared to $10.0 million in the same period last year. The company achieved a gross profit of $40.1 million, resulting in a gross margin of 49%, up from 23% in the prior year. This growth is primarily attributed to the acquisition of SunPower's assets, which expanded the company's operational capacity and customer base.
The company also reported a net income of $8.1 million for the quarter, a turnaround from a net loss of $9.6 million in the previous year. This improvement was bolstered by a $15.1 million gain on the remeasurement of derivative liabilities, which significantly impacted the overall financial results. Operating expenses increased to $39.1 million, driven by higher sales commissions, marketing, and general administrative costs, reflecting the company's expansion efforts and increased operational scale.
In terms of operational metrics, Complete Solaria's customer base expanded significantly, with installations increasing by approximately 800 in the Residential Solar Installation segment and 2,600 in the New Homes Business segment, following the SunPower acquisition. The company reported a total of 79.9 million shares outstanding as of March 30, 2025, up from 73.8 million shares at the end of the previous fiscal period, indicating a strategic move to enhance liquidity and support growth initiatives.
Looking ahead, Complete Solaria's management expressed optimism about future growth, focusing on expanding installation capacity and entering 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 ongoing concerns regarding liquidity and the ability to continue as a going concern, given the company's history of losses and the need for additional funding to support operations and growth strategies. The management is actively seeking to address these challenges while navigating the complexities of the solar energy market.
About Complete Solaria, Inc.
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