Complete Solaria, Inc. ( CSLR ) shares are trading higher after the company released its preliminary fourth-quarter results.

The Fremont, California-based company disclosed that its quarterly revenue escalated to $81.1 million (vs. consensus of $50 million) from $5.5 million in the third quarter on a standalone basis and surpassed the company guidance of $80 million.

Notably, in the third quarter report, the company outlined an operating plan for Complete Solar based on the successful $45 million acquisition of SunPower’s business unit assets, forming Complete Solar “NewCo” (CSLR).

Operating expenses, excluding sales commissions, dropped from $84 million in the third quarter to $19.8 million in the fourth quarter.

Complete Solaria ( CSLR ) reduced headcount by 67% vs October 1 to 1,140 by the end of the fourth quarter.

The company targets a final headcount for the combined company of 980.

Notably, the headcount cut lowered adjusted operating expenses to $35.7 million in the fourth quarter of 2024 from $94 million in the third quarter of 2024.

The company finished the fourth quarter with $13.3 million in cash and plans to grow cash from operations during 2025.

Q1 Outlook: The company expects modest sequential revenue growth to $82 million (vs. consensus of $90.0 million) in the first quarter of 2025, despite seasonal declines of 5%-14% in the solar industry during the first quarter.

The company sees adjusted operating income at breakeven in the quarter.

Complete Solaria ( CSLR ) forecasts a further 30% decline in operating expenses (less commissions) in the first quarter of 2025.

Price Action: Complete Solaria ( CSLR ) shares are up 13.66% at $1.83 at the last check Tuesday.

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