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Complete Solaria (CSLR)
NASDAQ:CSLR
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Complete Solaria
(NASDAQ:CSLR)
40Underperform
Complete Solaria (CSLR) vs. S&P 500 (SPY)
Market Cap
$105.49M
Dividend YieldN/A
Average Volume (3M)369.21K
Price to Earnings (P/E)―
Beta (1Y)2.11
Revenue Growth65.91%
EPS Growth-23.44%
CountryUS
Employees134
SectorTechnology
Sector Strength40
IndustrySolar
Share Statistics
EPS (TTM)-2.02
Shares Outstanding73,767,265
10 Day Avg. Volume404,331
30 Day Avg. Volume369,207
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)2.69
Price to Cash Flow (P/CF)-1.30
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$2.00Price Target Upside41.84% Upside
Rating ConsensusHold
Number of Analyst Covering1
Complete Solaria Business Overview & Revenue Model
Company DescriptionComplete Solaria (CSLR) is a company operating in the renewable energy sector, specifically focusing on solar energy solutions. The company is engaged in the design, manufacturing, and installation of high-efficiency solar panels and systems for residential and commercial use. Complete Solaria aims to provide sustainable and cost-effective energy solutions to reduce carbon footprints and promote clean energy adoption.
How the Company Makes MoneyComplete Solaria makes money primarily through the sale of its solar panels and energy systems. The company's revenue model includes direct sales to both residential and commercial clients who are looking to transition to solar power. Additionally, Complete Solaria may generate income from installation services, maintenance contracts, and potentially through financing arrangements that allow customers to pay for solar systems over time. The company may also engage in strategic partnerships with other businesses or energy providers to expand its market reach and improve its financial performance. Key revenue streams include product sales, installation fees, and service agreements.
Complete Solaria Financial Statement Overview
Summary
Complete Solaria is experiencing significant financial distress across all major financial statements. The company struggles with declining revenues, significant losses, negative equity, and cash flow challenges. These issues indicate a precarious financial position and highlight the urgent need for strategic restructuring or capital infusion to stabilize operations.Income Statement
The company has been experiencing a decline in revenue with a negative revenue growth rate as reported in the TTM (Trailing-Twelve-Months) figures. The gross profit margin is quite low at approximately 2.26%, and the company is facing severe losses with a net profit margin of -321.33%. EBIT and EBITDA margins are also deeply negative, indicating operational inefficiencies and significant challenges in profitability.25
Negative
Balance Sheet
The balance sheet reveals high leverage with a negative stockholders' equity of -$142.7 million, leading to an unstable financial situation. The debt-to-equity ratio cannot be calculated due to negative equity. Return on equity is negative due to substantial losses. The equity ratio is also negative, suggesting potential long-term insolvency risks.15
Very Negative
Cash Flow
The company is grappling with negative operating and free cash flows, with TTM free cash flow showing a significant decrease. The operating cash flow to net income ratio is negative, indicating cash flow issues. Financing activities are the primary source of cash, but this reliance on external financing is not sustainable.30
Negative
| Breakdown | ||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 40.80M | 87.62M | 79.80M | 68.82M | 29.38M | Gross Profit |
| 923.00K | 17.79M | 20.31M | 28.69M | 12.28M | EBIT |
| -63.06M | -52.36M | -22.61M | -7.33M | -5.12M | EBITDA |
| -109.50M | -81.25M | -22.36M | -7.10M | -4.86M | Net Income Common Stockholders |
| -131.09M | -269.56M | -29.48M | -9.28M | -5.68M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 1.79M | 2.59M | 4.41M | 5.28M | 0.00 | Total Assets |
| 40.85M | 47.32M | 228.18M | 26.40M | 127.69K | Total Debt |
| 66.30M | 63.21M | 66.78M | 25.50M | 0.00 | Net Debt |
| 64.51M | 60.62M | 62.37M | 20.23M | 0.00 | Total Liabilities |
| 125.93M | 124.14M | 122.90M | 47.79M | 108.19K | Stockholders Equity |
| -85.08M | -76.81M | 105.28M | -21.39M | 19.51K |
| Cash Flow | Free Cash Flow | |||
| -43.75M | -60.59M | -33.03M | -12.06M | -6.77M | Operating Cash Flow |
| -40.76M | -58.61M | -31.51M | -10.99M | -6.19M | Investing Cash Flow |
| 6.66M | 6.17M | 3.33M | -1.06M | -584.00K | Financing Cash Flow |
| 111.91M | 50.42M | 31.19M | 16.89M | 6.36M |
Complete Solaria Technical Analysis
Positive
1.41
Price Trends
1.57
Positive
1.69
Negative
1.80
Negative
Market Momentum
<0.01
Negative
47.19
Neutral
31.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CSLR, the sentiment is Positive. The current price of 1.41 is below the 20-day moving average (MA) of 1.53, below the 50-day MA of 1.57, and below the 200-day MA of 1.80, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 47.19 is Neutral, neither overbought nor oversold. The STOCH value of 31.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CSLR.
Complete Solaria Risk Analysis
Complete Solaria disclosed 59 risk factors in its most recent earnings report. Complete Solaria reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Complete Solaria Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $13.95B | 10.02 | 17.62% | ― | 26.75% | 55.24% | |
68 Neutral | $7.39B | 67.08 | 11.30% | ― | -41.92% | -76.24% | |
57 Neutral | $20.31B | 10.03 | -14.49% | 2.79% | 5.15% | -23.76% | |
53 Neutral | $506.90M | 12.49 | 1.34% | ― | -21.68% | -99.75% | |
51 Neutral | $784.75M | ― | -116.01% | ― | -68.86% | -4917.87% | |
46 Neutral | $1.49B | ― | -73.12% | ― | -9.83% | -71.44% | |
40 Underperform | $105.49M | ― | 91.86% | ― | 65.91% | -23.44% |
* Technology Sector Average
Performance Comparison
CSLR
Complete Solaria
1.62
1.11
217.65%
CSIQ
Canadian Solar
8.18
-9.18
-52.88%
ENPH
Enphase Energy
54.13
-65.47
-54.74%
FSLR
First Solar
129.63
-55.66
-30.04%
SEDG
SolarEdge Technologies
14.35
-56.35
-79.70%
RUN
Sunrun
6.43
-5.86
-47.68%
Complete Solaria Earnings Call Summary
Earnings Call Date: Jan 21, 2025 | % Change Since: -12.42% | Next Earnings Date: May 1, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a company undergoing significant transformation with successful acquisition and integration, substantial revenue growth, and effective cost reductions. However, challenges such as the quarterly loss, underperformance of the dealer division, and broader market instability temper the positive achievements.Highlights
Successful Acquisition and Integration
Complete Solar successfully acquired SunPower assets for $45 million, integrating significantly larger company operations and reducing headcount from 3,499 to 1,140, with a target of 980.
Revenue Growth and Forecast
Achieved Q4 2024 revenue of $81.1 million, up from $5 million in the previous quarter. Forecasting revenue growth to $82 million in Q1 2025.
Operating Expense Reduction
Reduced operating expenses from $94 million in Q3 to $35 million in Q4, with a further 30% reduction planned.
Positive Outlook for Breakeven
Forecasting operating income breakeven in Q1 2025, with anticipated operating income at $800,000.
Employee Recognition
Board awarded a $1.14 million bonus to employees for Q4 performance, recognizing their efforts in achieving company goals.
Lowlights
Q4 2024 Loss
Reported a quarterly loss of $5.4 million despite significant revenue growth.
Challenges in Dealer Division
Dealer division underperformed with a significant miss on its revenue plan, leading to a reduction in headcount from 140 to 5.
Integration Challenges
Encountered challenges in merging financials and employee counts post-acquisition, including unidentified employees.
Volatility in Solar Market
Noted that 70 solar companies went out of business recently, highlighting the instability and challenges in the solar industry.
Company Guidance
During the Complete Solar earnings call for Q4 2024, key metrics and guidance were provided by the executives. The company reported revenue of $81.1 million for the quarter, slightly below the earlier projection of $100 million, with a gross margin of 37%. Operating expenses were significantly reduced from $94 million in Q3 to $35 million in Q4, with further reductions planned. The company achieved a non-GAAP operating expense of $20 million in Q4, down from $84 million in Q3. Complete Solar is forecasting a revenue of $82 million for Q1 2025 and aims for operating income breakeven, with a projected profit margin of $800,000. The company has aggressively cut its workforce from 3,499 to 1,140, with a target of 980 employees. Additionally, cash reserves bottomed out at $13 million from an initial $80 million raised for the SunPower acquisition, but are expected to increase in the coming quarter.Complete Solaria Corporate Events
Executive/Board ChangesPrivate Placements and FinancingM&A TransactionsBusiness Operations and StrategyFinancial Disclosures
Complete Solaria Expands Board Amid Successful Q4 2024
Positive
Jan 27, 2025
On January 24, 2025, Complete Solaria’s Board of Directors expanded from nine to ten members, appointing J. Daniel McCranie as a new director. This appointment follows a September 2024 transaction in which a trust controlled by McCranie purchased $750,000 of the company’s 7.00% Convertible Senior Notes due 2029. In recent developments, Complete Solaria, under CEO T.J. Rodgers, reported a successful Q4 2024, achieving $80 million in revenue following the acquisition of SunPower’s business assets. The company completed substantial integration with SunPower, reducing its workforce significantly and forecasting continued revenue growth in Q1 2025, despite the typical seasonal dip in the solar industry.
M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
Complete Solaria Reports Strong Q4 2024 Financial Results
Positive
Jan 21, 2025
Complete Solaria reported its preliminary unaudited financial results for Q4 2024, following its acquisition of SunPower assets. The company achieved a consolidated revenue of $81.1 million, surpassing expectations, and successfully integrated SunPower’s business units, significantly increasing its workforce. The company has reduced operating expenses and forecasts modest revenue growth and breakeven operating income for Q1 2025. The integration has positioned Complete Solaria to expand its market presence while streamlining operations.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.