Complete Solaria Files Q3 2024 10-Q Report

TL;DR

SOLARIA FILES 10-Q FOR Q3 2024. CHECK FINANCIALS.

AI Summary

Complete Solaria, Inc. filed its quarterly report on Form 10-Q for the period ended September 29, 2024. The company, formerly known as Freedom Acquisition I Corp., is incorporated in Delaware and operates in the semiconductors & related devices industry. Its principal executive offices are located in Fremont, California.

Why It Matters

This filing provides investors with an update on Complete Solaria's financial performance and operational status for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.

Key Numbers

• 20240929 — Quarter End Date (The reporting period for this 10-Q filing.)
• 001-40117 — SEC File Number (Identifies the company's filing with the SEC.)

Key Players & Entities

• Complete Solaria, Inc. (company) — Registrant
• September 29, 2024 (date) — Quarterly period end date
• Freedom Acquisition I Corp. (company) — Former company name
• 001-40117 (other) — Commission file number
• Fremont, CA (location) — Business address city and state

FAQ

Key Financial Figures

• $0.0001 — ich Registered Common stock, par value $0.0001 per share CSLR Nasdaq Redeemable warr
• $1.0 million — interest expense to related parties of $1.0 million and $1.3 million during the thirteen an
• $1.3 million — to related parties of $1.0 million and $1.3 million during the thirteen and thirty-nine wee
• $0.1 million — expense to related parties of less than $0.1 million and $0.4 million during the thirteen an
• $0.4 million — d parties of less than $0.1 million and $0.4 million during the thirteen and thirty-nine wee
• $12.0 million — vely. (2) Other expense, net includes $12.0 million and $15.6 million of other expense attr
• $15.6 million — expense, net includes $12.0 million and $15.6 million of other expense attributed to related
• $36.9 million — e, net attributed to related parties of $36.9 million for each of the thirteen and thirty-nin

Filing Documents

• ea0220604-10q_complete.htm (10-Q) — 2037KB
• ea022060401ex31-1_complete.htm (EX-31.1) — 10KB
• ea022060401ex31-2_complete.htm (EX-31.2) — 10KB
• ea022060401ex32-1_complete.htm (EX-32.1) — 8KB
• 0001213900-24-099667.txt ( ) — 10655KB
• cslr-20240929.xsd (EX-101.SCH) — 105KB
• cslr-20240929_cal.xml (EX-101.CAL) — 68KB
• cslr-20240929_def.xml (EX-101.DEF) — 511KB
• cslr-20240929_lab.xml (EX-101.LAB) — 874KB
• cslr-20240929_pre.xml (EX-101.PRE) — 513KB
• ea0220604-10q_complete_htm.xml (XML) — 1210KB

Risk Factors

Risk Factors iii PART I. FINANCIAL INFORMATION 1 Item 1. Financial 1 Unaudited Condensed Consolidated Balance Sheets 1 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss 2 Unaudited Condensed Consolidated Statements Stockholders' Deficit 3 Unaudited Condensed Consolidated Statements of Cash Flows 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 3. Quantitative and Qualitative Disclosures about Market Risk 55 Item 4. Controls and Procedures 55 PART II. OTHER INFORMATION 57 Item 1.

Legal Proceedings

Legal Proceedings 57 Item 1A.

Risk Factors

Risk Factors 57 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 85 Item 3. Defaults Upon Senior Securities 85 Item 4. Mine Safety Disclosures 85 Item 5. Other Information 85 Item 6. Exhibits 85

Signatures

Signatures 87 i SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain securities laws. Our forward-looking statements include, but are not limited to, statements regarding our and our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and similar expressions may identify forward-looking our ability to recognize the anticipated benefits of the Business Combination (as defined below), which may be affected by, among other things, competition and our ability to grow and manage growth profitably following the closing of the Business Combination; our financial and business performance following the Business Combination, including financial projections and business metrics; changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; our ability to meet the expectations of new and current customers, and our ability to achieve market acceptance for our products; our expectations and forecasts with respect to market opportunity and market growth; our ability to leverage our acquisition under the asset purchase agreement with SunPower Corporation and other acquisitions, including our ability to integrate acquired businesses, to fund and meet the liquidity needs of the acquired businesses, to retain key employees of the acquired businesses, to take

RISK FACTORS

RISK FACTORS Our management has identified conditions that raise substantial doubt about our ability to continue as a going concern. Our business depends in part on the availability of rebates, tax credits and other financial incentives. The expiration, elimination or reduction of these rebates, credits or incentives or the ability to monetize them could adversely impact the business. Existing regulations and policies and changes to these regulations and policies may present technical, regulatory, and economic barriers to the purchase and use of solar power products, which may significantly reduce demand for our products and services. Risks associated with a highly complex global supply chain, including from disruptions, delays, trade tensions, or shortages. We rely on net metering and related policies to offer competitive pricing to customers in many of our current markets and changes to net metering policies may significantly reduce demand for electricity from residential solar energy systems. We utilize a limited number of suppliers of solar panels and other system components to adequately meet anticipated demand for our solar service offerings. Any shortage, delay or component price change from these suppliers or delays and price increases associated with the product transport logistics could result in sales and installation delays, cancellations, and loss of market share. We provide warranties for solar system installations, solar panels, and other system components that may negatively impact overall profitability. We utilize third-party sales and installation partners whose performance could result in sales and installation delays, cancellations, and loss of market share. Risks associated with solar system installation and connection delays, including the potential for recoupment or clawback of payments by financing partners. Due to the general economic environment and any market pressure that would drive down the average selling prices of

View Full Filing

View this 10-Q filing on SEC EDGAR