KITCHENER, ON, May 2, 2025 /PRNewswire/ -- Canadian Solar Inc. ("the Company", "Canadian Solar") (NASDAQ: CSIQ) today announced that it will hold a conference call on Thursday, May 15, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m., May 15, 2025, in Hong Kong) to discuss the Company's first quarter 2025 results and business outlook.The dial-in phone number for the live audio call is +1-877-704-4453 (toll-free from the U.S.), 800 965 561 (from Hong Kong), +86 400 120 2840 (local dial-in from Mainland China) ...

Financial Data and Key Metrics Changes - Revenue for the first quarter was $20.8 million, exceeding guidance and representing a 58% increase from the prior quarter and a 65% increase year-over-year due to higher product volumes [20][21] - GAAP gross loss was $3.4 million, or 16.6% of revenue, compared to a gross loss of $3.8 million, or 29.1% of revenue in the prior quarter [20] - Non-GAAP gross loss was $3 million, or 14.4% of revenue, an improvement from $3.4 million, or 25.6% of revenue in the prior quarter [21] - GAAP net loss was $3.8 million, or $0.58 per diluted share, compared to a loss of $12.2 million, or $0.96 per diluted share in the prior quarter [21] - Adjusted EBITDA loss was $9.8 million, slightly better than the top end of guidance, compared to losses of $9.8 million in the prior quarter [22] Business Line Data and Key Metrics Changes - The company has added over 6.5 gigawatts to its backlog, with agreements signed with tier one accounts [5] - The average project size of bids increased by 65% year-over-year, indicating a significant uptick in bidding activity [11] - 1P solutions now represent 90% of all bidding activity, reflecting a strategic shift in product focus [13] Market Data and Key Metrics Changes - Customer visits to product demonstration facilities increased by 100% and 240% over the past six and nine months, respectively [11] - Bidding volume in the first quarter was up 60% compared to the previous year, indicating heightened market activity [11] Company Strategy and Development Direction - The company is focused on converting backlog into sustainable growth and profitability, with a strong emphasis on expanding its 1P product line [5][6] - The strategic shift from 2P to 1P solutions is aimed at addressing market demand and expanding the served market [9][12] - The company is actively involved in advocating for the continuation of investment tax credits and manufacturing credits to support industry growth [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the solar market, noting high demand for solar generation and active involvement from corporate customers in project development [16] - The company anticipates continued growth in backlog and revenue, with expectations of achieving adjusted EBITDA breakeven on a quarterly basis within 2025 [23][25] - Management acknowledged uncertainties in the market due to tariffs and permitting processes but emphasized the importance of maintaining operational flexibility [14][39] Other Important Information - The contracted backlog now stands at $482 million, with cash at the end of the quarter reported at $5.9 million [22][18] - The company has reduced operating expenses for six consecutive quarters, achieving the lowest level since becoming public [21] Q&A Session Summary Question: Exposure to tariffs for components - Management acknowledged that there is some exposure to tariffs on imported items but emphasized a diversified supply chain to mitigate impacts [28] Question: Impact of module change configurations on backlog - Management indicated that while there is movement in module configurations, they have not seen significant project shifts due to module impacts [30][31] Question: Percentage of projects on hold due to tariff clarity - Management noted that while there is some resequencing of projects, the majority remain on track, with flexibility built into project timelines [38] Question: Development activity slowdown - Management clarified that development activity has not slowed, but negotiations between off-takers and project owners have paused due to tariff uncertainties [41] Question: Expectations for gross margin and adjusted EBITDA - Management highlighted that higher volumes and market share gains are driving expectations for improved gross margins and positive adjusted EBITDA [47]

Core Viewpoint - Worksport Ltd. is participating in the D. Boral Capital Inaugural Global Conference on May 14, 2025, in New York City, which is expected to attract investors and feature keynote speaker Kevin O'Leary [1][2]. Company Overview - Worksport Ltd. (NASDAQ: WKSP) designs, develops, manufactures, and owns intellectual property for various products, including tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions [3]. - The company has a partnership with Hyundai for the SOLIS Solar cover and offers a hard-folding cover compatible with all major truck models, gaining traction in the electric vehicle sector [3]. - Worksport aims to leverage the growing consumer shift towards clean energy with its proprietary solar solutions, mobile energy storage systems, and Cold-Climate Heat Pump technology [3]. D. Boral Capital Overview - D. Boral Capital LLC is an investment bank based in New York, providing advisory and financing solutions to middle market and emerging growth companies [4]. - The firm has a strong track record, having aggregated over $25 billion in capital across approximately 350 transactions [5].

May 1, 2025 First Quarter 2025 Earnings Results 2 Forward-Looking Statements and Non-GAAP Financial Measures This presentation contains forward looking statements. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict,""potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimate ...

Core Insights - Enphase Energy has shipped over 6.5 million IQ Microinverters and 50 MWh of IQ Batteries from U.S. manufacturing facilities, with a significant portion featuring higher domestic content [1][3][4] - Approximately 80% of all Enphase microinverter shipments now originate from the United States, supporting over 300,000 American homes [4] Manufacturing and Product Development - Enphase began shipping IQ8HC™ Microinverters and IQ Battery 5Ps from South Carolina and Texas in 2023, with products identified by the "DOM" suffix qualifying for the Domestic Content Bonus Credit [3] - The company continues to expand its manufacturing capabilities, with recent shipments of advanced microinverters featuring higher domestic content than previous models [3] Industry Impact and Recognition - The milestone of shipping 6.5 million microinverters is seen as a validation of the performance and reliability of Enphase's products, setting a high standard in the industry [4] - Installers of Enphase products have noted the positive impact of U.S. manufacturing on their ability to take on a broader range of projects, particularly those requiring domestic components [4] Company Overview - Enphase Energy is a global leader in microinverter-based solar and battery systems, with approximately 81.5 million microinverters shipped and 4.8 million systems deployed in over 160 countries [5]

Core Points - Canadian Solar Inc. filed its annual report on Form 20-F for the year ended December 31, 2024, with the U.S. SEC [1] - The annual report is accessible on the Company's Investor Relations website and the SEC's website [1] Company Overview - Canadian Solar is one of the largest solar technology and renewable energy companies globally, founded in 2001 and headquartered in Kitchener, Ontario [2] - The Company is a leading manufacturer of solar photovoltaic modules and provides solar energy and battery energy storage solutions [2] - Canadian Solar has delivered nearly 150 GW of solar photovoltaic modules worldwide over the past 24 years [2] - The subsidiary e-STORAGE has shipped over 10 GWh of battery energy storage solutions, with a contracted backlog of US$3.2 billion as of December 31, 2024 [2] - Since entering project development in 2010, Canadian Solar has developed approximately 11.5 GWp of solar power projects and 4.5 GWh of battery energy storage projects globally [2] - The Company has a diversified project development pipeline, including 25 GWp of solar and 75 GWh of battery energy storage capacity in various stages of development [2] - Canadian Solar is recognized as one of the most bankable companies in the solar and renewable energy industry and has been publicly listed on NASDAQ since 2006 [2]

Core Insights - Maxeon Solar Technologies reported a fiscal year 2024 revenue of $509 million, a decrease from $1,123 million in fiscal year 2023, reflecting ongoing challenges in the market [1][2][17] - The company is facing significant disruptions due to U.S. Customs & Border Protection's barring of its solar panels from U.S. import since July 2024, despite compliance with the Uyghur Forced Labor Prevention Act [2][3] - Maxeon is restructuring its operations to focus on the U.S. market, streamline operations, and enhance efficiency while also identifying domestic component vendors [2][3] Financial Performance - In Q4 2024, Maxeon reported shipments of 211 MW, compared to 199 MW in Q3 2024 and 653 MW in Q4 2023 [2][17] - The gross loss for Q4 2024 was $47.656 million, compared to a gross profit of $2.728 million in Q4 2023 [2][17] - The net loss attributable to stockholders for fiscal year 2024 was $614.3 million, significantly higher than the $275.8 million loss in fiscal year 2023 [2][17] Operational Changes - The company has divested its assets in the Philippines and businesses outside the U.S. to improve liquidity and support ongoing transformation [2][3] - Maxeon is committed to fiscal discipline, having restructured interest payments on outstanding debt to reduce cash burden [2][3] - The company will no longer report earnings quarterly and will instead file audited financial statements through Form 20-F with the SEC [2][3] Future Outlook - Maxeon is unable to provide financial guidance due to ongoing restructuring and market uncertainties [2][3] - The company is focused on establishing alternative manufacturing and supply chains to enhance resilience against market headwinds [2][3] - Strategic initiatives are being implemented to ensure the delivery of efficient and reliable solar energy products to residential, commercial, and utility-scale customers [2][3]

Financial Data and Key Metrics Changes - SunPower reported $121.27 million in profit for Q1 2025, a significant increase from a loss of $5.9 million in the previous quarter [6][7] - The company achieved profitability and cash flow positivity in the quarter, marking a turnaround from the previous quarter's losses [6][7] - Non-GAAP profit for the quarter was reported at $121.27 million, compared to $81.1 million in the prior quarter, indicating a 49% increase [6][10] Business Line Data and Key Metrics Changes - The company has streamlined its operations post-merger, reducing headcount from 3,500 to 906, which has contributed to cost savings and improved profitability [11][12][17] - The focus on maintaining a lean workforce has resulted in an annualized savings of $1.6 million [16][17] - Revenue per employee is currently at $369,000, which is considered strong for the solar industry [23] Market Data and Key Metrics Changes - SunPower's market performance has been relatively stable compared to competitors, with the company slightly ahead of industry averages despite market challenges [65] - The company is positioned to benefit from a strategic partnership with Sundar, a sales firm that will support growth and increase sales capacity [58] Company Strategy and Development Direction - SunPower aims to enhance its technology edge by partnering with REC for panels and Enphase for inverters, focusing on innovation in solar technology [86][109] - The company is committed to maintaining strong financials through disciplined cost management and strategic acquisitions, while being cautious about integrating new companies [68][70] - The management emphasizes the importance of customer satisfaction and quality service as a core value to differentiate from competitors [101][104] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current challenges in the solar market but believes that SunPower is better positioned than many competitors [65] - The company is entering a new phase in the renewable energy sector, with a focus on scaling up production and improving supply chain efficiencies [44][45] - The management is optimistic about the future, leveraging decades of industry experience to navigate complex challenges [45][56] Other Important Information - SunPower has strengthened its board by adding three directors with extensive public company experience, enhancing governance and strategic oversight [59][61] - The company has rebranded itself to reflect its new direction and vision, which includes a focus on technology and customer service [66][100] Q&A Session Summary Question: What is the company's strategy for future growth? - The company plans to focus on technology partnerships and maintaining a lean operational structure to drive profitability and growth [86][68] Question: How is SunPower addressing customer satisfaction? - SunPower is committed to improving customer service and quality, with management personally involved in addressing customer issues [101][104] Question: What are the expectations for market performance moving forward? - Management believes that SunPower is positioned to perform better than competitors in the current market environment, despite overall industry challenges [65]

Financial Data and Key Metrics Changes - SunPower reported $121.27 million in profit for Q1 2025, a significant increase from a loss of $5.9 million in the prior quarter [7] - Non-GAAP profit for the quarter was $121.27 million, up from $81.1 million in the previous quarter, indicating a 49% increase [8][9] - The company achieved profitability and was cash flow positive during the quarter, marking a turnaround in financial performance [7][8] Business Line Data and Key Metrics Changes - The company is currently generating over $80 million in revenue per quarter, with plans to increase this figure [11] - The headcount has been reduced from 3,500 employees post-merger to 906, reflecting a significant cost-cutting effort [12][13] - The company is tracking revenue per employee, currently at $369,000, which is considered strong for the solar industry [24] Market Data and Key Metrics Changes - SunPower's performance is slightly ahead of competitors in the market, which are experiencing declines [66] - The company is focusing on maintaining solid financials amidst a challenging market environment, with a strategy to avoid the pitfalls that led to the bankruptcy of other solar companies [67][70] Company Strategy and Development Direction - SunPower is rebranding and restructuring to enhance its market position, with a focus on technology and innovation [67][88] - The company is forming strategic partnerships to support growth, including a partnership with a sales firm named Sundar [59] - SunPower aims to regain its technological edge by collaborating with companies like REC and Enphase for solar panels and inverters [88][111] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the renewable energy sector, noting the transition to a dominant energy source as solar becomes the lowest cost form of electrical energy [46][47] - The company is focused on improving customer service and quality to differentiate itself from competitors [103][106] - Management acknowledged the need for immediate action to retain key employees while reducing headcount, indicating a balanced approach to cost management [38][39] Other Important Information - The company has strengthened its board with experienced directors from public companies to enhance governance [60][62] - SunPower is implementing a disciplined approach to managing headcount and costs, with regular tracking of employee metrics [17][19] - The company is committed to maintaining a strong customer focus, emphasizing the importance of customer satisfaction in its operations [103][106] Q&A Session Summary Question: What is the company's strategy for growth in the current market? - Management highlighted the importance of strategic partnerships and technological innovation as key components of their growth strategy [59][88] Question: How is the company addressing customer service issues? - Management emphasized a commitment to improving customer service and quality, with a focus on treating customers well to avoid negative publicity [103][106] Question: What measures are being taken to ensure financial stability? - The company is actively managing costs through headcount reductions and disciplined financial tracking to maintain profitability [12][17][38]

Core Viewpoint - SunPower, formerly known as Complete Solaria, Inc., has reported its first profitable quarter in four years, coinciding with its rebranding and the acquisition of SunPower assets, indicating a positive turnaround for the company [3][18]. Financial Performance - Q1 2025 revenue was $80.2 million, consistent with expectations, and achieved during a traditionally challenging winter quarter [8]. - The gross margin for Q1 2025 was 36%, down from 47% in Q4 2024, while operating expenses were significantly reduced from $62.8 million in Q4 2024 to $27.4 million in Q1 2025 [3][4]. - The company reported an operating income of $1.3 million in Q1 2025, a significant improvement from a loss of $39.6 million in Q3 2024 and a loss of $5.9 million in Q4 2024 [16][19]. Staffing and Operational Efficiency - SunPower's workforce was reduced from 3,499 employees to 906 within a quarter, aligning staffing levels with profitability targets [8][16]. - The company aims to achieve profitability at an annualized revenue of $300 million, indicating a streamlined operational structure [9][16]. Strategic Developments - The rebranding to SunPower was officially announced on April 21, 2025, with a new ticker symbol SPWR effective April 22, 2025 [18]. - A strategic partnership with Sunder, a prominent solar sales firm, is expected to contribute to revenue growth starting in Q3 2025 [18]. - The board has been strengthened with the addition of three former public company CEOs, enhancing governance and strategic oversight [19][20]. Future Outlook - The company forecasts steady revenue and positive operating income for the next quarter, with a detailed growth plan to be presented at the May annual meeting [15].