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Divestiture | 3 Months Ended
--- | ---
Mar. 31, 2024
Divestiture [Abstract] |
Divestiture |
(7) | Divestiture
Discontinued operations As previously described in Note 1 – Organization, on August 18, 2023, the Company entered into a Non-Binding Letter of Intent to sell certain of Complete Solaria’s North American solar panel assets, inclusive of intellectual property and customer contracts, to Maxeon. Under the terms of the Disposal Agreement, Maxeon agreed to acquire certain assets and employees of Complete Solaria. The Company determined that this divestiture represented a strategic shift in the Company’s business and qualified as a discontinued operation. In October 2023, the Company completed the sale of its solar panel business to Maxeon, pursuant to the terms of the Asset Purchase Agreement Disposal Agreement. The components of amounts reflected in the unaudited condensed consolidated statements of operations and comprehensive loss related to discontinued operations are presented in the table, as follows (in thousands):
|  | Thirteen-Weeks |
|  | Ended April 2, 2023 |
Revenues |  | $ | 18,721 |
Cost of revenues |  |  | 19,479 |
Gross loss |  |  | (758 | )
Operating expenses: |  |  |  |
Sales and marketing |  |  | 2,866 |
General and administrative |  |  | 4,185 |
Total operating expenses |  |  | 7,051 |
Loss from discontinued operations |  |  | (7,809 | )
Other income (expense), net |  |  | — |
Loss from discontinued operations before income taxes |  |  | (7,809 | )
Income tax benefit |  |  | 4 |
Net loss from discontinued operations |  | $ | (7,805 | )

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