Core Viewpoint - PainReform's acquisition of DeepSolar positions the company as a potential leader in the high-growth, high-margin AI solar energy management sector while maintaining its focus on pharmaceutical innovation [1][4]. Company Overview - PainReform is a clinical-stage specialty pharmaceutical company focused on reformulating established therapeutics, particularly in post-surgical pain relief [9]. - The company has successfully acquired 100% of DeepSolar, an AI-driven solar analytics platform, from BladeRanger Ltd [1][2]. Acquisition Details - The acquisition allows PainReform to enter the clean energy sector, leveraging DeepSolar's software to optimize solar farm efficiency and profitability [2]. - DeepSolar's AI analytics platform enhances energy production and reduces operational inefficiencies, integrating with SCADA systems for monitoring and predictive maintenance [3][6]. - The transaction involved PainReform issuing 178,769 ordinary shares and 223,792 pre-funded warrants to BladeRanger Ltd as part of the acquisition [7]. Market Potential - The solar energy market is projected to grow at an annual rate of 25.32%, generating over 1 terawatt (TW) of energy from 2021 to 2026 [3]. - The residential solar market reached a valuation of $94.2 billion in 2024 and is expected to grow at 8% annually through 2034 [3]. Strategic Goals - PainReform aims to broaden DeepSolar's customer base, targeting utility-scale solar operators, independent power producers, and residential solar users [2]. - The company plans to explore strategic partnerships with utility companies, solar technology providers, and smart grid operators to drive revenue growth [4][5]. - DeepSolar's SaaS model is expected to generate steady, high-margin revenue streams while reducing operational costs for customers by up to 30% [6]. Technological Differentiation - DeepSolar's AI capabilities provide a competitive advantage in the renewable energy market, positioning PainReform as a potential technology leader in solar asset optimization [6].

Financial Data and Key Metrics Changes - The company achieved $275 million in revenue for Q4 2024 and $916 million for the full year, exceeding the midpoint of previously communicated guidance [12][52] - Q4 adjusted gross margin improved by 410 basis points year-on-year to 29.8%, while full year adjusted gross margin reached 34.1%, an increase of 680 basis points compared to 2023 [12][53] - Adjusted EBITDA for Q4 was $45.2 million, with a full year total of $173.6 million, down from $288.1 million in the prior year [12][54] - The net loss attributable to common shareholders for Q4 was $141.2 million, compared to a net income of $6 million in the prior year [51][54] - Free cash flow for the year was $135 million, ending with a cash balance of $364 million [12][55] Business Line Data and Key Metrics Changes - The order book ended the year at $2 billion, up 10% from 2023, with over 20% growth in the domestic portion [17] - The OmniTrack terrain following tracker contributed almost 10% of 2024 revenue, reflecting strong market traction [18] Market Data and Key Metrics Changes - Utility scale solar remains the cheapest and fastest-growing energy source, with solar and solar plus battery storage representing 64% of new electricity deployment in the U.S. [21] - The U.S. market stabilized towards the end of 2024, with expectations for continued momentum in 2025 despite previous headwinds [22][29] Company Strategy and Development Direction - The company is focused on supply chain resiliency, with a new manufacturing facility in Albuquerque aimed at reducing costs and risks [13] - Continued investment in innovation, including partnerships with companies like SWAP Robotics, to enhance operational efficiency and project cycle times [37][38] - The company aims to provide 100% domestic content trackers in the U.S. by the first half of 2025 [26][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the utility scale solar industry's value proposition and demand, expecting 20% top-line growth in 2025 [29][66] - The company is taking a conservative approach to forecasting for 2025, with expectations for revenue between $1.05 billion and $1.15 billion [59] Other Important Information - The company experienced significant impairment charges related to the 2022 STI acquisition, impacting operating expenses [49] - The company is actively monitoring developments regarding the Inflation Reduction Act and its implications for the solar industry [24][26] Q&A Session Summary Question: Can you discuss the EBITDA margin in Q1 compared to the rest of the year? - Management indicated that Q1 EBITDA margins are expected to be lower due to the continuation of large shipments from Q4 and the roll-off of some amortization [70] Question: What initiatives are being taken to grow the backlog? - Management noted a strong win rate for new orders, with a book-to-bill ratio of 1.5 in North America, despite some debookings in Brazil [78] Question: What pricing dynamics are expected in 2025? - Management stated that pricing remains disciplined, with commodity prices impacting ASPs rather than aggressive pricing strategies [82] Question: How does the competitive environment look after Soltec's exit in Europe? - Management acknowledged gaining market share in Brazil but noted legal constraints in Spain preventing immediate project takeovers [108] Question: Are there plans to sell off any 45X credits? - Management indicated that selling credits is not a near-term plan, as most credits are filed by vendors, but they would evaluate selling excess credits in the future [113]

Financial Data and Key Metrics Changes - The company achieved $275 million in revenue for Q4 2024 and $916 million for the full year 2024, exceeding the midpoint of previously communicated guidance [12][52] - Q4 adjusted gross margin improved by 410 basis points year-on-year to 29.8%, while full year adjusted gross margin reached 34.1%, an increase of 680 basis points compared to 2023 [12][53] - Adjusted EBITDA for Q4 was $45.2 million, with a margin of 16.4%, compared to $48.2 million and a margin of 14.1% in Q4 2023 [50] - The net loss attributable to common shareholders in Q4 was $141.2 million, compared to a net income of $6 million in the prior year [51] Business Line Data and Key Metrics Changes - The order book ended the year at $2 billion, up 10% from 2023, with over 20% growth in the domestic portion [17] - The OmniTrack terrain following tracker contributed almost 10% of 2024 revenue, reflecting strong market traction [18] Market Data and Key Metrics Changes - Utility scale solar remains the cheapest and fastest-growing energy source, with a projected 50% increase in annual electricity production needed by 2035 [20] - Solar and solar plus battery storage accounted for 64% of all new electricity deployment in the U.S. [21] - The Brazilian market is experiencing slow growth due to currency devaluation and tariffs, expected to continue for 3 to 4 more quarters [27] Company Strategy and Development Direction - The company is focused on supply chain resiliency, with a new manufacturing facility in Albuquerque, New Mexico, aimed at reducing costs and risks [13] - Continued investment in innovation, including a significant investment in SWAP robotics to enhance operational efficiency [37] - The company aims to provide 100% domestic content trackers in the U.S. by the first half of 2025 [26][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the stabilization of the market towards the end of 2024 and expects continued momentum in 2025 [22][29] - The company anticipates a 20% top-line growth in 2025, driven by a recovery in market share and shipments from delayed projects [29][59] - Management noted that the competitive environment remains disciplined, particularly in North America, despite challenges in other regions [82] Other Important Information - The company ended 2024 with a strong cash balance of $364 million, an increase of $115 million from the previous year [55] - Total operating expenses for Q4 were $220.7 million, significantly impacted by noncash impairment charges related to the 2022 STI acquisition [49] Q&A Session Summary Question: Can you discuss the EBITDA margin in Q1 compared to the rest of the year? - Management indicated that Q1 EBITDA margins are forecasted to be lower due to the continuation of large shipments from Q4 and the roll-off of some amortization [70] Question: Were there any safe harbor orders received in Q4 or into Q1? - Management noted that less than 10% of the order book consists of safe harbor orders, with no new orders currently in the book but ongoing discussions with customers [72][74] Question: Why did the new orders backlog lag behind despite a growing pipeline? - Management explained that while the win rate for new orders is improving, there were debookings in Brazil that masked strength in the North American order book [78][80] Question: What pricing dynamics are expected in 2025? - Management stated that pricing remains disciplined, with ASP declines primarily driven by commodity prices rather than market competition [82] Question: How does the company view the competitive environment following Soltec's exit in Europe? - Management acknowledged a change in competition in Brazil, with opportunities to pick up projects, but noted legal constraints in Spain [108][110]

RONKONKOMA, N.Y., Feb. 27, 2025 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, today announced that it has entered into a securities purchase agreement with certain institutional investors for the purchase and sale of 17,391,306 shares of the Company’s common stock (or common stock equivalents in lieu thereof) Series A warrants to purchase up to an aggregate 17,391,306 shares ...

Financial Data and Key Metrics Changes - In 2024, First Solar reported net sales of $4.2 billion, a 27% increase year-on-year, with a diluted EPS of $12.02, up from $7.74 in 2023 [7][31][88] - Gross margin for the full year was 44%, an increase of 5 percentage points from 2023, but Q4 gross margin dropped to 37% from 50% in the prior quarter [21][22] - The company ended 2024 with a cash balance of $1.8 billion, an increase of $0.5 billion from the prior quarter [32] Business Line Data and Key Metrics Changes - First Solar sold a record 14.1 gigawatts of modules in 2024, with a year-end contracted backlog of 68.5 gigawatts valued at $20.5 billion [6][12] - Manufacturing output included 15.5 gigawatts, comprising 9.6 gigawatts of Series 6 modules and 5.9 gigawatts of Series 7 modules [8][10] - The company began producing CuRe modules in Q4 2024 and is on track to ramp up production capacity to over 25 gigawatts by 2026 [10][72] Market Data and Key Metrics Changes - The contracted backlog included 37.1 gigawatts with potential adjusters that could generate an additional $0.7 billion in revenue [15] - The total pipeline of potential bookings decreased to 80.3 gigawatts, with mid to late-stage opportunities at 21 gigawatts [15][16] - The company faced challenges in international markets due to policy uncertainties and competition, particularly in Europe and India [67][68] Company Strategy and Development Direction - First Solar's strategy focuses on technology differentiation, emphasizing thin-film technologies and a three-pillar approach to innovation [36][41] - The company aims to leverage its strong balance sheet to support growth and navigate macroeconomic uncertainties [85] - The management plans to continue a selective approach to contracting, prioritizing long-term relationships with customers [17][56] Management Comments on Operating Environment and Future Outlook - Management highlighted the need for decisive actions to address China's dominance in the solar supply chain and the importance of US manufacturing [51][52] - The uncertain policy environment post-US elections is causing caution among customers, impacting procurement and project timelines [60][62] - Despite near-term challenges, management remains optimistic about long-term growth in solar demand due to its low-cost profile and speed to deployment [60][61] Other Important Information - The company is constructing a $1.1 billion manufacturing facility in Louisiana, expected to begin operations in the second half of 2025 [11] - Warranty charges related to Series 7 manufacturing issues are estimated to range from $56 million to $100 million [23][84] - The company has filed a lawsuit against JinkoSolar for patent infringement, reinforcing its commitment to protecting its intellectual property [44] Q&A Session Summary Question: What are the expectations for module sales in 2025? - First Solar expects module sales of 18 to 20 gigawatts in 2025, with a significant portion produced in the US [75][90] Question: How is the company addressing the challenges in international markets? - The company is reducing output from its Southeast Asian factories due to policy uncertainties and is focusing on optimizing its domestic production capabilities [72][67] Question: What is the outlook for gross margin in 2025? - Gross margin is expected to be between 47% for the full year 2025, factoring in ramp costs and the impact of Section 45X tax credits [88][90]

Financial Performance - In 2024, the company achieved net sales of $4.2 billion, a 27% increase year-on-year, with diluted EPS at $12.02, which was below the low end of guidance due to an after-tax impact from tax credits [3][19] - Gross margin for Q4 was 37%, down from 50% in the previous quarter, while the full year gross margin was 44%, an increase of five percentage points from 2023 [11][12] Business Line Performance - The company secured full year net bookings of 4.4 gigawatts, leading to a year-end contracted backlog of 68.5 gigawatts [3][5] - A record 14.1 gigawatts of modules were sold in 2024, with production reaching 15.5 gigawatts, including 9.6 gigawatts of Series six modules and 5.9 gigawatts of Series seven modules [3][4] Market Data - The contracted backlog at the end of 2023 was 78.3 gigawatts, valued at approximately $23.3 billion, which decreased to 68.5 gigawatts valued at $20.5 billion by the end of 2024 [5][6] - The total pipeline of potential bookings remains strong at 80.3 gigawatts, although mid to late stage bookings opportunities decreased to 21 gigawatts [8][9] Company Strategy and Industry Competition - The company is focused on a technology strategy centered around three pillars: improvements to core semiconductor technology, development of next-generation thin film semiconductors, and the next generation TANDER device [22][23] - The company emphasizes a selective approach to contracting, prioritizing long-term relationships and value differentiation [9][10] Management Commentary on Operating Environment and Future Outlook - Management highlighted significant near-term uncertainty due to unresolved policy environments following the U.S. elections, which is affecting customer procurement and project timelines [41][42] - The company expects to face challenges in balancing supply and demand due to project delays and contract terminations, particularly in international markets [46][48] Other Important Information - The company is constructing a $1.1 billion manufacturing facility in Louisiana, expected to begin operations in the second half of 2025, which will increase global manufacturing capacity to over 25 gigawatts by 2026 [4][20] - The company recorded warranty charges related to manufacturing issues affecting Series seven modules, with total charges estimated between $56 million and $100 million [14][16] Q&A Session Summary Question: What are the expectations for 2025 production and sales? - The company forecasts total production of 18 to 19 gigawatts for 2025, with module sales expected to be between 18 to 20 gigawatts [54][55] Question: How is the company addressing the challenges in the current policy environment? - The company is actively monitoring the policy landscape and adjusting its strategies to mitigate risks associated with potential tariffs and trade regulations [48][49] Question: What are the anticipated impacts of the new manufacturing facilities? - The new facilities are expected to enhance production capacity and efficiency, contributing to the company's long-term growth strategy [51][52]

As filed with the United States Securities and Exchange Commission on July 24, 2024. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Complete Solaria, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of Delaware 001-40117 93-2279786 (Commission File Number) (I.R.S. Employer Identification Number) 45700 Northport Loop East Fremont, CA 94538 (510) 270-2507 (Add ...

As filed with the Securities and Exchange Commission on April 9, 2024 Registration No. 333-277070 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 3 To FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Ascent Solar Technologies, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 36741 20-3672603 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identifi ...

As filed with the Securities and Exchange Commission on April 5, 2024 Registration No. 333-277070 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 To FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Ascent Solar Technologies, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 36741 20-3672603 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identifi ...

As filed with the Securities and Exchange Commission on February 23, 2024 Registration No. 333-277070 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 To FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Ascent Solar Technologies, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 36741 20-3672603 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Iden ...