Complete Solaria, Inc.
For the period ended Jun 29, 2025. Filed Aug 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 29, 2025 · Filed Aug 13, 2025
SPWR$0.23-3.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands except number of shares)
| Twenty-Six Weeks Ended | ||
|---|---|---|
| June 29, 2025 | June 30, 2024 | |
| Cash flows from operating activities from continuing operations | ||
| Net loss | $(14,295) | $(25,482) |
| Net loss from discontinued operations, net of income taxes | — | (2,007) |
| Net loss from continuing operations | (14,295) | (23,475) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 4,031 | 2,570 |
| Non-cash interest expense | — | 2,020 |
| Non-cash lease expense | 605 | 349 |
| Depreciation and amortization | 3,002 | 686 |
| Provision for credit losses | 1,217 | 900 |
| Change in reserve for excess and obsolete inventory | — | (1,228) |
| Change in fair value of SAFE Agreement – related party | 34 | — |
| Change in fair value of forward purchase agreement liabilities (1) | (1,612) | 2,822 |
| Change in fair value of derivative liabilities (2) | (3,675) | — |
| Amortization of debt issuance costs (3) | 9,318 | — |
| Change in fair value of warrant liabilities | 3,043 | (2,625) |
| Non-cash income (4) | (314) | — |
| Loss on impairments and disposals | 113 | — |
| Accretion of debt in CS Solis – related party | — | 3,872 |
| Loss on conversion of SAFE Agreements to shares of common stock | — | 1,250 |
| Non-cash expense in connection with warrant issued for vendor services | — | 1,639 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (14,549) | 12,378 |
| Inventories | 15,572 | 2,311 |
| Contract assets | (25,713) | — |
| Prepaid expenses and other current assets | (911) | (1,422) |
| Other noncurrent assets | (262) | — |
| Accounts payable | 9,316 | (2,125) |
| Accrued expenses and other liabilities | (2,293) | (6,051) |
| Operating lease liabilities | (705) | (332) |
| Contract liabilities | 11,028 | (1,176) |
| Net cash used in operating activities | (7,050) | (7,637) |
| Cash flows from investing activities from continuing operations | ||
| Capitalization of internal-use software costs | — | (883) |
| Net cash used in investing activities from continuing operations | — | (883) |
| Cash flows from financing activities from continuing operations | ||
| Proceeds from issuance of convertible notes | 200 | — |
| Principal repayment of note payable | — | (300) |
| Finance lease payments | (1,022) | — |
| Proceeds from exercise of common stock options | 559 | 60 |
| Proceeds from exercise of warrant for common stock | 60 | — |
| Investor financing deposit – related party | 5,000 | 2,000 |
| Proceeds from issuance of SAFE Agreements | — | 6,000 |
| Net cash provided by financing activities from continuing operations | 4,797 | 7,760 |
| Effect of exchange rate changes | — | 21 |
| Net decrease in cash, cash equivalents and restricted cash | (2,253) | (739) |
| Cash, cash equivalents, and restricted cash at beginning of period | 17,219 | 6,416 |
| Cash, cash equivalents, and restricted cash at end of period | $14,966 | $5,677 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for interest | $1,445 | $— |
| Cash paid for income taxes | — | 10 |
| Supplemental disclosure of noncash financing and investing activities: | ||
| Conversion of SAFE Agreements to shares of common stock with related party | $— | $5,000 |
| Measurement period adjustment to increase goodwill due to a decrease in acquired fair value of inventory in SunPower Acquisition | 1,349 | — |
| (1) | Includes related party expense of zero and $1.0 million in the twenty-six week periods ended June 29, 2025, and June 30, 2024, respectively. |
| (2) | Includes related party gain on remeasurement of $2.1 million in the twenty-six week period ended June 29, 2025. |
| (3) | Includes related party amortization of $1.8 million in the twenty-six week period ended June 29, 2025. |
| (4) | Includes related party non-cash income of $0.1 million in the twenty-six week period ended June 29, 2025. |
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