Core Viewpoint - Complete Solar Holdings, Inc. reported preliminary Q3'24 financial results, revealing $117.3 million in revenue and a loss of $42.0 million post-merger with SunPower [1][2]. Financial Performance - The company generated $117.3 million in revenue for Q3'24, with a GAAP operating loss of $64.1 million and a non-GAAP net loss of $41.0 million [3][4]. - Revenue breakdown by division includes: - New Homes: $53.2 million with a loss of $12.0 million - Blue Raven Solar: $43.5 million with a loss of $6.8 million - Dealer (+ CSLR): $20.6 million with a loss of $22.2 million [3]. - The company anticipates a revenue forecast of $100 million for Q4'24, adjusting for non-recurring revenues from Q3'24 [4]. Strategic Initiatives - CEO T.J. Rodgers announced plans to present a Rev. 5 Annual Operating Plan aimed at cutting headcount and costs to achieve breakeven operating income by 2025 [2]. - A $25.8 million reduction in operating expenses has already been implemented for Q4'24 [4]. Company Background - Complete Solar has become a leading solar services provider in North America following its acquisition of SunPower assets, focusing on digital platforms and installation services to support energy-efficient transitions for customers [5].
Complete Solar Announces Preliminary Q3'24 Results