Correction: Complete Solar Announces Preliminary Q3'24 Results

Core Insights - Complete Solar announced preliminary Q3'24 financial results with revenue of $117.3 million and a loss of$42.0 million following the merger with SunPower [1][2] - The company plans to present its Rev. 5 Annual Operating Plan aimed at achieving breakeven operating income by 2025, which includes cutting headcount and other costs [2][3] - A revenue forecast of $100 million for Q4'24 has been provided, reflecting adjustments from Q3'24 results [3] Financial Performance - Q3'24 revenue breakdown includes: - New Homes:$53.2 million with a loss of $12.0 million - Blue Raven Solar:$43.5 million with a loss of $6.8 million - Dealer Division:$20.6 million with a loss of $22.2 million - Total GAAP operating loss for Q3'24 was$64.1 million, while the non-GAAP net loss was $41.0 million [3][9] Cost Management - The company has implemented a$25.8 million reduction in operating expenses for Q4'24 [3] - Non-GAAP adjustments for Q3'24 included $9.225 million in stock-based compensation and$13.905 million in restructuring charges, totaling $23.130 million [7][10] Strategic Direction - Complete Solar has become a leading solar services provider in North America following its acquisition of SunPower assets, focusing on digital platforms and installation services [4]