$Complete Solaria (CSLR.US)$ NEWS Complete Solaria to be Sel...
NEWS
Complete Solaria to be Self-Funded in Q2 2024
Improved gross margin of 24% in Q1’24 despite revenue drop, with Q2’24 forecast exceeding 30%.
Operational efficiency achieved through headcount reduction to 109 employees, down from 428 in June ’23.
All remaining employees granted retention stock options to bolster motivation and loyalty.
CEO transition to T.J. Rodgers to drive fundraising and M&A strategies, with a focus on financial stability.
Organizational restructuring into product lines for enhanced business focus and operational effectiveness.
Operational efficiency achieved through headcount reduction to 109 employees, down from 428 in June ’23.
All remaining employees granted retention stock options to bolster motivation and loyalty.
CEO transition to T.J. Rodgers to drive fundraising and M&A strategies, with a focus on financial stability.
Organizational restructuring into product lines for enhanced business focus and operational effectiveness.
Revenue drop to $10.0 million in Q1’24 due to working capital shortage and unresolved loan situation with Carlyle.
Operating expenses reduced, with Q2’24 opex forecast at $3.6 million, emphasizing cost-cutting measures.
Private equity debt holders' control limiting financial transactions, requiring negotiation for debt-to-equity swap.
Dependency on $11.5 million additional working capital and $13 million accounts payable settlement to resume growth.
Operating expenses reduced, with Q2’24 opex forecast at $3.6 million, emphasizing cost-cutting measures.
Private equity debt holders' control limiting financial transactions, requiring negotiation for debt-to-equity swap.
Dependency on $11.5 million additional working capital and $13 million accounts payable settlement to resume growth.
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