Welcome to our dedicated page for Complete Solaria news (Ticker: $CSLR), a resource for investors and traders seeking the latest updates and insights on Complete Solaria stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Complete Solaria's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
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Rhea-AI Summary
Complete Solaria, Inc. (NASDAQ: CSLR) receives a $5 million investment from Chairman T.J. Rodgers via private placement, ensuring financial stability well into 2024 despite market challenges.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.35%
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Rhea-AI Summary
Complete Solaria, Inc. (NASDAQ: CSLR) appoints Chris Lundell as Chief Executive Officer, effective immediately. Lundell, a seasoned renewables executive, brings extensive experience in high-tech companies and consulting, aiming to enhance customer service, expand market share, and strengthen the company's culture and brand.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.31%
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Rhea-AI Summary
Complete Solaria, Inc. (CSLR) announced that Taner Ozcelik will not join as the new CEO and Founder Will Anderson will remain interim CEO. Executive Chairman T.J. Rodgers stated that Ozcelik's decision was due to the extensive travel and commitment required for the role, and the company will continue its CEO search.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.32%
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Rhea-AI Summary
Complete Solaria Inc. (NASDAQ: CSLR) reported its third quarter 2023 results, including a revenue of $24.6 million, a 25% gross margin, and the sale of its Module business for $10.2 million. The company aims to further improve its gross margin to the 32%-40% range in the current Q4 quarter. Despite a reduction in revenue and a decrease in gross margin, the company has made significant progress in reducing operating expenses and improving efficiency. The new CEO, Taner Ozcelik, and board member, Chris Lundell, bring extensive experience to the company. Complete Solaria experienced record gross bookings of $56.4 million, indicating strong customer demand.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.96%
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Rhea-AI Summary
Complete Solaria, Inc. will release its financial results for Q3 2023 on November 14, 2023. A webcast conference call will be held to discuss business updates, key milestones, and financial results. Interested parties can access the live webcast via the provided link.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.56%
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Rhea-AI Summary
Complete Solaria, Inc. announces completion of asset sale to Maxeon Solar Technologies
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-13.29%
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Rhea-AI Summary
Maxeon Solar Technologies and Complete Solaria announce asset purchase agreement. Maxeon to acquire Solaria's dealer channel operations and contracts, as well as solar panel patent portfolio. Maxeon expects transaction to expand US market footprint and provide access to tariff-free solar panels.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.8%
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Rhea-AI Summary
Complete Solaria Inc. (NASDAQ: CSLR) reported Q2 2023 results with revenue of $32.2 million, down 9% from the previous quarter. Systems revenue increased by 54% QoQ to $25.6 million, while Modules revenue decreased by 65% QoQ to $6.6 million. Gross margin improved by 6% QoQ to 18%. The company plans to focus solely on the higher-margin Systems business in the future and has signed a non-binding term sheet to sell its Modules business. The company also underwent a streamlined organization with a reduction of 59 employees, resulting in $7.9 million in annualized savings. New Systems bookings remain strong with $49.1 million in contracts in Q2.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-14.67%
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Rhea-AI Summary
Complete Solaria, Inc. plans to sell certain North American solar panel assets to a global manufacturer, shifting focus towards their 'total-service model'. The deal is expected to lower operating costs and increase profitability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.61%
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Rhea-AI Summary
Complete Solaria, Inc. will host a one-hour call on August 22, 2023, to review Q2 results and the residential solar market. The presentation will be followed by a live Q&A session. Registration is required for the virtual event. Presentation materials and webcast replay will be available on the Complete Solaria Investors page.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-11.2%
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Complete Solaria, Inc.
Nasdaq:CSLR
CSLR Rankings
CSLR Stock Data
85.92M
25.47M
35.14%
30.87%
0.33%
Optical Instrument and Lens Manufacturing
Manufacturing
United States of America
GRAND CAYMAN
About CSLR
in pursuing our strategy of creating a global financial services group, we intend to add value to the target business through active engagement with its management team, and enabling that company to leverage the benefits of scale to grow and increase profitability.