Complete Solar to Report 2024 and Q1’25 on April 30

Rhea-AI Summary

Complete Solar (Nasdaq: CSLR) has rescheduled its earnings call to April 30, 2025, at 1:00pm ET, where it will present both audited 2024 financial results and unaudited Q1'25 results. The delay from the original April 23 date is due to a one-week extension of their SEC 10K filing deadline.

CEO T.J. Rodgers confirmed that Q1'25 results will align with previous guidance, showing positive operating income and cash flow. The delay stems from audit complexities involving the financial combination of three previously independent companies: Complete Solar, old SunPower, and Blue Raven, each operating with different accounting systems.

The company is actively implementing SOX compliance programs to strengthen financial controls, with management expecting future audits to be more timely and cost-effective. Interested parties can access the webcast through registration or via the company's investor relations website.

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OREM, Utah, April 18, 2025 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. d/b/a Complete Solar (Nasdaq: CSLR), a solar technology, services, and installation company, today announced that it revised the date for its upcoming earnings call, and Complete Solar will present its audited 2024 financial results and unaudited Q1’25 results in a quarterly investor report on April 30, 2025 at 1:00pm ET. Interested parties may access the webcast by registering here or by visiting the Events page within the IR section of the company website: investors.completesolar.com/news-events/events.

Complete Solar chairman and CEO T.J. Rodgers stated, “We look forward to presenting our audited 2024 financial results and our unaudited Q1’25 financials on April 30, when we will present the results of the first two quarters of the combined company which will be consistent with our prior public guidance of positive operating income and cash flow in Q1'25.

Rodgers continued, “This press release has been issued because we have pushed out our prior announced April 23 report date due to a one-week delay on our SEC 10K filing, in turn due to the complexity-induced delay of our first audit, which required the financial combination of three previously independent companies: Complete Solar, old SunPower and Blue Raven (an unintegrated SunPower acquisition) – each with different accounting systems. So, our audit will be finished on April 25, not April 14, as we expected.

Rodgers concluded, “I accepted one week of delay in our investor webcast to April 30, so I have an air-tight, fully audited set of numbers. In addition, we are vigorously pursuing our SOX program right now to tighten the controls of our financial processes, so I expect our next audit to be on or ahead of schedule, and come in and at a much lower cost to shareholders.”

About Complete Solar
With its recent acquisition of SunPower assets, Complete Solar has become a leading residential solar services provider in North America. Complete Solar’s digital platform and installation services support energy needs for customers wishing to make the transition to a more energy-efficient lifestyle. For more information visit www.completesolar.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “will,” “goal,” “prioritize,” “plan,” “target,” “expect,” “focus,” “forecast,” “look forward,” “opportunity,” “believe,” “estimate,” “continue,” “anticipate,” and “pursue” or the negative of these terms or similar expressions. Forward-looking statements in this press release include, without limitation, the establishment of Complete Solar as a $300-million solar installer, our ranking by annualized revenue in the solar installer industry, our expectations regarding profitability and cashflow positive operations, deepening our relationship with Sunder Energy, and the benefits of our use of the SunPower name. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, our ability to implement further headcount reductions and cost controls, our ability to integrate and operate the combined business with the SunPower assets, our ability to achieve the anticipated benefits of the SunPower acquisition, global market conditions, any adjustments, changes or revisions to our financial results arising from our financial closing procedures, the completion of our audit and financial statements for Q4/24 and fiscal 2024, and other risks and uncertainties applicable to our business. For additional information on these risks and uncertainties and other potential factors that could affect our business and financial results or cause actual results to differ from the results predicted, readers should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our annual report on Form 10-K filed with the SEC on April 1, 2024, our quarterly reports on Form 10-Q filed with the Securities and Exchange Commission and other documents that we have filed with, or will file with, the Securities Exchange Commission, including our annual report on Form 10-K with respect to fiscal 2024 that will be filed with the Securities and Exchange Commission. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Complete Solar assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact:

Sioban Hickie
VP Investor Relations
Shickie@CompleteSolar.com
(801) 477-5847

Source: Complete Solar, Inc.

FAQ

When will Complete Solar (CSLR) release its 2024 and Q1 2025 earnings?

Complete Solar will release its earnings on April 30, 2025, at 1:00pm ET, featuring both audited 2024 results and unaudited Q1'25 financials.

Why did Complete Solar (CSLR) delay its earnings release from April 23 to April 30?

The delay is due to audit complexities from combining three companies' different accounting systems, requiring an additional week to complete the SEC 10K filing.

What financial performance is Complete Solar (CSLR) expecting for Q1 2025?

Complete Solar has guided for positive operating income and cash flow in Q1'25, as confirmed by CEO T.J. Rodgers.

How can investors access Complete Solar's (CSLR) earnings webcast on April 30?

Investors can access the webcast by registering through the provided link or visiting the Events page in the IR section at investors.completesolar.com/news-events/events.

What steps is Complete Solar (CSLR) taking to improve financial reporting?

The company is implementing SOX compliance programs to strengthen financial controls, aiming for more timely and cost-effective future audits.