Slide 1: First Quarter 2021 Earnings Call
OCTQX: TGEN FIRST QUARTER 2021 Earnings Call May 13, 2021
Slide 2: Participants
Participants Benjamin Locke Chief Executive Officer President & Chief Operating Robert Panora Officer Jack Whiting General Counsel & Secretary Roger Deschenes Chief Accounting Officer 2
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation and accompanying documents contain “forward-looking statements” which may describe strategies, goals, outlooks or other non- historical matters, or projected revenues, income, returns or other financial measures, that may include words such as "believe," "expe
Slide 4: Earnings Call Agenda
Earnings Call Agenda Agenda: Tecogen Overview Q1 2021 Results Earnings Takeaways • Reduced OpEx – 21% YoY • Gross margin improvement • Cash and equivalents balance 03/31/21of $3.7 million vs. $1.5 million YE 2020 Q&A 4
Slide 5: Tecogen Overview
Tecogen Overview Clean and Efficient Energy Systems Leader in Distributed Generation Technology • Unmatched efficiency of air-conditioning and cooling systems • Ultera technology ensures emissions compliance in most stringent US districts • Enable black-start and off-grid power generation • Ranked 3
Slide 6: Q1 2021 Results
Q1 2021 Results $ in thousands 1Q'21 1Q'20 YoY Change Revenue = $6.1 million Revenue Products $ 2,123 $ 3,052 $ (929) • Compared to $8.0 million in 1Q ’20, 24% decrease Service 3,281 4,160 (879) Energy Production 653 751 (98) • Product revenue down 30% Total Revenue 6,057 7,963 (1,906) -23.9% • Serv
Slide 7: Q1 Adjusted EBITDA Reconciliation
Q1 Adjusted EBITDA Reconciliation Reconciliation of Q1 2021 Net Income to Adjusted EBITDA Quarter Ended, March 31, EBITDA: Earnings Before Interest, Taxes, Non-GAAP financial disclosure (in thousands) 2021 2020 Net income (loss) attributable to Tecogen Inc. $ 1,767 $ (1,202) Depreciation & Amortizat
Slide 8: 1Q '21 Performance by Segment
1Q ’21 Performance by Segment Product Sales Impacted by COVID Service Contracts/Parts Energy Production Revenue Continue Recovery Recovering YoY % of Total YTD Revenue ($ thousands) 2021 2020 Growth Rev Product revenue decreased 30% QoQ Revenue • Cogeneration sales impacted by COVID-19 Cogeneration
Slide 9: 1Q '21 Earnings Takeaways
1Q ‘21 Earnings Takeaways Business Segments Recovering from COVID Challenges • Product sales down; Product backlog increased 36% from year end • Service contracts/parts revenue increased 12% QoQ despite COVID setbacks • Energy production revenues are beginning to recover Stable Cash Position • PPP l
Slide 10: Tecogen Path to Profitability
Tecogen Path to Profitability Grow Core Business Segments • Expanding sales network, product offerings, chiller market • Continue expanding service O&M • Identify opportunistic energy production investments Commercialize Ultera • Support Origin Engine agreement • Continue catalyst development • Focu
Slide 11: Q&A
Q&A Company Information Tecogen, Inc 45 First Ave Waltham, MA 02451 www.Tecogen.com Contact information Benjamin Locke, CEO 781.466.6402 Benjamin.Locke@Tecogen.com 11