107 results
10-Q/A
2024 Q1
CSLR
Complete Solaria Inc.
15 May 24
Quarterly report (amended)
5:30pm
The FPA liabilities are measured at fair value on a recurring basis using a Monte Carlo simulation analysis. The expected volatility is determined based on the historical equity volatility of comparable companies over a period that matches the simulation period, which included the following inputs:
March 31, 2024 | December 31, 2023 | |||||||
Common stock trading price | $ | 0.59 | $ | 1.66 | ||||
Simulation period | 1.30 years | 1.55 years | ||||||
Risk-free interest rate | 4.90 | % | 4.48 | % | ||||
Volatility | 112.0 | % | 95.0 | % |
10-Q/A
2024 Q1
CSLR
Complete Solaria Inc.
15 May 24
Quarterly report (amended)
5:30pm
The following table sets forth our unaudited statements of operations data for the thirteen-weeks ended March 31, 2024 and the thirteen-weeks ended April 1, 2023. We have derived this data from our unaudited condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q. This information should be read in conjunction with our unaudited condensed consolidated financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q. The results of historical periods are not necessarily indicative of the results of operations for any future period.
(in thousands) | Thirteen- Weeks Ended March 31, 2024 | Thirteen- Weeks Ended April 2, 2023 | $ Change | % Change | ||||||||||||
Revenues | $ | 10,040 | $ | 16,677 | $ | (6,637) | (40 | )% | ||||||||
Cost of revenues(1) | 7,757 | 13,827 | (6,070) | (44 | )% | |||||||||||
Gross profit | 2,283 | 2,850 | (567) | (20 | )% | |||||||||||
Gross margin % | 23 | % | 17 | % | ||||||||||||
Operating expenses: | ||||||||||||||||
Sales commissions | 3,116 | 5,677 | (2,561) | (45 | )% | |||||||||||
Sales and marketing(1) | 1,618 | 683 | 935 | 137 | % | |||||||||||
General and administrative(1) | 5,093 | 8,913 | (3,820) | (43 | )% | |||||||||||
Total operating expenses | 9,827 | 15,273 | (5,446) | (36 | )% | |||||||||||
Loss from continuing operations | (7,544) | (12,423) | 4,879 | (39 | )% | |||||||||||
Interest expense(2) | (3,568) | (3,611) | 43 | (1 | )% | |||||||||||
Interest income | 6 | 8 | (2) | (25 | )% | |||||||||||
Other income, net(3) | 1,519 | 317 | 1,202 | 379 | % | |||||||||||
Loss from continuing operations before taxes | (9,587) | (15,709) | 6,122 | (39 | )% | |||||||||||
Income tax provision | (1) | — | (1) | * | % | |||||||||||
Net loss from continuing operations | $ | (9,588) | $ | (15,709) | $ | 6,121 | (39 | )% |
10-Q/A
2024 Q1
CSLR
Complete Solaria Inc.
15 May 24
Quarterly report (amended)
5:30pm
As part of the Company’s amended and restated warrant agreement with CRSEF Solis Holdings, LLC and its affiliates (“Carlyle”), the Company issued Carlyle a warrant to purchase shares of Complete Solaria Common Stock at a price per share of $0.01. Refer to Note 12 – Warrants for further details. The Company valued the warrants based on a Black-Scholes Option Pricing Method, which included the following inputs:
March 31, 2024 | December 31, 2023 | |||||||
Expected term | 7.0 years | 7.0 years | ||||||
Expected volatility | 77.0 | % | 77.0 | % | ||||
Risk-free interest rate | 3.92 | % | 3.92 | % | ||||
Expected dividend yield | 0.0 | % | 0.0 | % |
10-Q/A
2024 Q1
CSLR
Complete Solaria Inc.
15 May 24
Quarterly report (amended)
5:30pm
A summary of RSU activity for the thirteen-week period ended March 31, 2024 under the Plan is as follows:
Number of RSUs | Weighted Average Grant Date Fair Value | |||||||
Unvested at December 31, 2023 | 58,097 | $ | 2.07 | |||||
Granted | –– | $ | –– | |||||
Vested and released | –– | $ | –– | |||||
Cancelled or forfeited | –– | $ | –– | |||||
Unvested at March 31, 2024 | 58,097 | $ | 2.07 |
10-Q/A
2024 Q1
CSLR
Complete Solaria Inc.
15 May 24
Quarterly report (amended)
5:30pm
We disaggregate our revenues based on the following types of services (in thousands):
Thirteen-Weeks Ended | Thirteen-Weeks Ended | |||||||||||||||
March 31, 2024 | April 2, 2023 | $ Change | % Change | |||||||||||||
Solar energy system installations | $ | 9,922 | $ | 15,843 | $ | (5,921) | (37 | %) | ||||||||
Software enhanced services | 118 | 834 | (716) | (86 | )% | |||||||||||
Total revenue | $ | 10,040 | $ | 16,677 | $ | (6,637) | (40 | )% |
10-Q/A
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15 May 24
Quarterly report (amended)
5:30pm
10-Q/A
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15 May 24
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15 May 24
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10-Q/A
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15 May 24
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10-Q/A
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15 May 24
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10-Q/A
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15 May 24
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10-Q/A
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15 May 24
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10-Q/A
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15 May 24
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10-Q/A
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15 May 24
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15 May 24
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10-Q/A
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15 May 24
Quarterly report (amended)
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10-Q/A
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15 May 24
Quarterly report (amended)
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10-Q/A
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15 May 24
Quarterly report (amended)
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10-Q/A
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15 May 24
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10-Q/A
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15 May 24
Quarterly report (amended)
5:30pm