Complete Solar to Report Strong Q4 and Full Year 2024 Results, Driven by SunPower Acquisition

Complete Solar Holdings, Inc. d/b/a Complete Solar ("Complete Solar" or the "Company") (Nasdaq: CSLR), a solar technology, services, and installation company, is set to release its fourth quarter and full year 2024 results before market open on Tuesday, January 21, 2025. The Company will host a webcast conference call on the same day at 2:00 PM ET, led by T.J. Rodgers and the management team.

Complete Solar's recent acquisition of SunPower assets, including the New Homes, Blue Raven, and Dealer businesses, along with the rights to the SunPower brand, is expected to significantly impact the Company's revenue and earnings growth in 2025. The combined company, "NewCo," is projected to achieve $100 million in revenue in Q4'24, with a sustainable operating income loss of $1.0 million, followed by its first profitable quarter in Q2'25 with $0.4 million in operating income.



The integration of SunPower assets is expected to result in a significant headcount reduction, which should lead to a decrease in the operating income loss. In Q3'24, the operating income loss was ($40.0 million), but it is now expected to drop to $2-11 million in Q4'24 due to the headcount reduction. Complete Solar's CEO, T.J. Rodgers, has presented a Rev. 5 Annual Operating Plan to over 1,000 employees, detailing the plan to cut headcount and other costs to achieve breakeven operating income in 2025.



Complete Solar's acquisition of SunPower assets is expected to have a substantial positive impact on the Company's revenue and earnings growth in 2025. The combined revenue in Q3'24 for NewCo was $117.3 million, which overstates the current revenue rate due to the pileup of SunPower backlog in Q1 and Q2'24. The current belief is that the revenue will be $80 million in Q4'24, as some of the backlog will not carry over to the next quarter.

Investors and interested parties can access the webcast through registration or via the Events page in the Investor Relations section of Complete Solar's website. Participants are advised to log in at least 10 minutes before the event starts. A replay of the webcast will be available afterward on the company's website.

Complete Solar's acquisition of SunPower assets and the integration of the two companies present significant challenges, including combining different business cultures, streamlining operations, and ensuring a smooth transition for employees. However, the successful integration of these assets is crucial for Complete Solar to achieve its growth objectives.



In conclusion, Complete Solar's acquisition of SunPower assets is expected to drive strong revenue and earnings growth in 2025, as the combined company, "NewCo," is projected to achieve $100 million in revenue in Q4'24 and its first profitable quarter in Q2'25. The integration of SunPower assets presents challenges, but the Company is well-positioned to overcome these obstacles and achieve its growth objectives. Investors and interested parties should closely monitor Complete Solar's Q4 and full year 2024 results, as well as the Company's progress in integrating SunPower assets, to assess its financial performance and growth prospects.