$CSLR
Complete Solaria, Inc.

2023 Q2 Form 10-Q Financial Statement

#000121390023067241 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q2
Revenue $0.00
YoY Change
Cost Of Revenue $13.83M
YoY Change
Gross Profit $2.850M
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.510M
YoY Change 83.23%
Operating Profit -$1.511M
YoY Change 83.39%
Interest Expense $1.410M
YoY Change 204.4%
% of Operating Profit
Other Income/Expense, Net -$1.144M
YoY Change -140.15%
Pretax Income -$2.660M
YoY Change -231.29%
Income Tax
% Of Pretax Income
Net Earnings -$2.655M
YoY Change -231.07%
Net Earnings / Revenue
Basic Earnings Per Share -$0.93
Diluted Earnings Per Share -$0.13
COMMON SHARES
Basic Shares Outstanding 25.20M shares
Diluted Shares Outstanding 25.20M shares

Balance Sheet

Concept 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00
YoY Change -100.0%
Cash & Equivalents $3.251K
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.251K
YoY Change -99.66%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $118.4M
YoY Change -65.75%
Other Assets
YoY Change
Total Long-Term Assets $118.4M
YoY Change -65.76%
TOTAL ASSETS
Total Short-Term Assets $3.251K
Total Long-Term Assets $118.4M
Total Assets $118.4M
YoY Change -65.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.000M
YoY Change 102.07%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $3.500M
YoY Change 636.07%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.49M
YoY Change 166.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $9.300M
YoY Change -41.13%
Total Long-Term Liabilities $9.300M
YoY Change -41.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.49M
Total Long-Term Liabilities $9.300M
Total Liabilities $19.79M
YoY Change 0.28%
SHAREHOLDERS EQUITY
Retained Earnings -$20.03M
YoY Change 6.66%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$19.79M
YoY Change
Total Liabilities & Shareholders Equity $118.4M
YoY Change -65.85%

Cashflow Statement

Concept 2023 Q2
OPERATING ACTIVITIES
Net Income -$2.655M
YoY Change -231.07%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$340.0K
YoY Change -47.89%
INVESTING ACTIVITIES
Capital Expenditures $30.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$400.0K
YoY Change
Cash From Investing Activities -$400.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 700.0K
YoY Change -30.0%
NET CHANGE
Cash From Operating Activities -340.0K
Cash From Investing Activities -400.0K
Cash From Financing Activities 700.0K
Net Change In Cash -40.00K
YoY Change -111.51%
FREE CASH FLOW
Cash From Operating Activities -$340.0K
Capital Expenditures $30.00K
Free Cash Flow -$370.0K
YoY Change

Facts In Submission

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2023-06-30
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dei Entity File Number
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dei Entity Registrant Name
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COMPLETE SOLARIA, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Address Address Line1
EntityAddressAddressLine1
45700 Northport Loop East
dei Entity Address City Or Town
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Fremont
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dei City Area Code
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270-2507
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the unaudited condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimates made in preparing these unaudited condensed consolidated financial statements include, among other things, the fair value measurement of the Private Warrant liabilities and promissory note.</span></p>
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10350000 usd
CY2022 fact Ordinary Share Issuance Costs
OrdinaryShareIssuanceCosts
18600644 usd
CY2022 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
33877957 usd
CY2022Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
349927313 usd
us-gaap Redemption Premium
RedemptionPremium
237372952 usd
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
5825267 usd
CY2023Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
118379628 usd
CY2022Q2 fact Sponsor Share
SponsorShare
25000 shares
CY2023Q2 us-gaap Option Contract Indexed To Equity Settlement Number Of Shares Effect Of Change In Fair Value Of Share
OptionContractIndexedToEquitySettlementNumberOfSharesEffectOfChangeInFairValueOfShare
25000 shares
CY2023Q2 us-gaap Securities Borrowed
SecuritiesBorrowed
1188999 usd
CY2022Q4 us-gaap Securities Borrowed
SecuritiesBorrowed
828600 usd
CY2023Q2 us-gaap Other Notes Payable
OtherNotesPayable
100000 usd
CY2021Q1 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
6405000 usd
CY2021Q1 fact Deferred Underwriting Discount Per Unit
DeferredUnderwritingDiscountPerUnit
0.35
CY2021Q1 fact Aggregate Gross Proceeds
AggregateGrossProceeds
12075000 usd
us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
9056250 usd
fact Partial Reversal Of Transaction Costs
PartialReversalOfTransactionCosts
271687 usd
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
8784563 usd
CY2023Q2 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
3018750 usd
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
100000000 usd
us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
10000000 usd
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020 us-gaap Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
25000 usd
CY2020 fact Sponsor Paid Average Price
SponsorPaidAveragePrice
0.003
fact Total Number Of Ordinary Shares Outstanding Percentage
TotalNumberOfOrdinarySharesOutstandingPercentage
0.20 pure
fact Warrant Expiration Term
WarrantExpirationTerm
P5Y
CY2023Q2 us-gaap Investments And Cash
InvestmentsAndCash
118379628 usd
CY2023Q2 us-gaap Other Assets
OtherAssets
118379628 usd
fact Warrant Liabilities Public Warrants
WarrantLiabilitiesPublicWarrants
3622500 usd
fact Warrant Liabilities Private Warrants
WarrantLiabilitiesPrivateWarrants
2662460 usd
fact Convertible Note Amount
ConvertibleNoteAmount
448680 usd
fact Convertible Noteone
ConvertibleNoteone
448680 usd
fact Convertible Notes Two
ConvertibleNotesTwo
291639 usd
CY2023Q2 fact Total Warrant Liabilities
TotalWarrantLiabilities
7473959 usd
CY2022 fact Investments Held In Trust Account Us Money Market Fund
InvestmentsHeldInTrustAccountUSMoneyMarketFund
349927313 usd
CY2022 fact Investments Held In Trust Account Net
InvestmentsHeldInTrustAccountNet
349927313 usd
CY2022 fact Warrant Liabilities Public Warrants
WarrantLiabilitiesPublicWarrants
1725000 usd
CY2022 fact Warrant Liabilities Private Warrants
WarrantLiabilitiesPrivateWarrants
1253333 usd
CY2022 fact Convertible Note Amount
ConvertibleNoteAmount
338200 usd
CY2022 fact Convertible Noteone
ConvertibleNoteone
338200 usd
CY2022 fact Convertible Notes Two
ConvertibleNotesTwo
152200 usd
CY2022Q4 fact Total Warrant Liabilities
TotalWarrantLiabilities
3806933 usd
CY2023Q2 us-gaap Share Price
SharePrice
10.6
CY2022Q4 us-gaap Share Price
SharePrice
10.1
CY2023Q2 fact Fair Value Measurement Strike Price
FairValueMeasurementStrikePrice
11.5
CY2022Q4 fact Fair Value Measurement Strike Price
FairValueMeasurementStrikePrice
11.5
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M26D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y4M17D
fact Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rates
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRates
16.60%
CY2022 fact Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rates
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRates
de minimis
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0544 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0398 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q4 fact Fair Value Convertible Promissory Notes
FairValueConvertiblePromissoryNotes
828600 usd
CY2023Q1 fact Borrowing Of Convertible Promissory Note
BorrowingOfConvertiblePromissoryNote
100000 usd
CY2023Q1 fact Proceeds Received In Excess Of Initial Fair Value Of Convertible Promissory Note
ProceedsReceivedInExcessOfInitialFairValueOfConvertiblePromissoryNote
-12198 usd
CY2023Q1 us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
257725 usd
CY2023Q1 fact Fair Value Convertible Promissory Notes
FairValueConvertiblePromissoryNotes
1174127 usd
CY2023Q2 us-gaap Change In Unrealized Gain Loss On Hedged Item In Fair Value Hedge1
ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1
14872 usd
CY2023Q2 fact Fair Value Convertible Promissory Notes
FairValueConvertiblePromissoryNotes
1188999 usd
CY2023Q3 fact Aggregate Shares Of Common Stock
AggregateSharesOfCommonStock
6720000 shares
CY2023Q3 us-gaap Share Price
SharePrice
2
CY2023Q2 fact Trust Proceeds
TrustProceeds
14700000 usd
fact Net Proceeds
NetProceeds
3500000 usd
us-gaap Proceeds From Sale Of Trust Assets To Pay Expenses
ProceedsFromSaleOfTrustAssetsToPayExpenses
6600000 usd
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
22900000 usd
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
2745879 shares
us-gaap Common Stock Convertible Conversion Price Decrease
CommonStockConvertibleConversionPriceDecrease
0.01
CY2023Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
1995879 shares
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
00-0000000
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
usd
CY2022Q4 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
usd
CY2023Q2 us-gaap Common Stock Value
CommonStockValue
usd
CY2022Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
usd
fact Cash Withdrawn From Trust Account In Connection With Redemptions
CashWithdrawnFromTrustAccountInConnectionWithRedemptions
usd
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
fact Proceed Received In Excess Of Initial Fair Value Of Convertible Promissory Note
ProceedReceivedInExcessOfInitialFairValueOfConvertiblePromissoryNote
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001838987

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fact-20230630_lab.xml Edgar Link unprocessable
fact-20230630_def.xml Edgar Link unprocessable
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f10q0623_completesol_htm.xml Edgar Link completed
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