Eos Energy Enterprises, Inc. · NASDAQ:EOSE
Eos Energy Enterprises — Q3 2024 Earnings Presentation
17 slides from Eos Energy Enterprises's earnings presentation, Nov 6, 2024
Slide 1: Eos Energy Enterprises Q3 2024 Financial Results
Eos Energy Enterprises Q3 2024 Financial Results November 06, 2024
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our expected reve
Slide 3: Non-GAAP Financial Measures
Non – GAAP Financial Measures To provide investors with additional information regarding our financial results, we have disclosed in this earnings presentation non-GAAP financial measures, including adjusted EBITDA and adjusted earnings per share (EPS), which are non-GAAP financial measures as defin
Slide 4: Operating Highlights
Òperating Highlights 1 2 1 Commercial Pipeline Booked Orders Orders Backlog at 9/30 $14.2 billion $136.5 million $588.9 million Representing ~59 GWh Representing ~0.5 GWh Representing ~2.3 GWh 3 4 15 Discharge Energy Q3 Revenue Cash On Hand at 9/30 4.4 GWh $0.9 million $23.0 million ~4.0 GWh in the
Slide 5: Recent Accomplishments
Operating Highlights Recent Accomplishments Strategic investment milestones achieved; large order secured post 3Q close Cerberus Milestones Commercial Momentum Achieved August and October milestones 216 MWh purchase order with City Utilities of Springfield, Missouri Additional $65 million fund
Slide 6: Operational Scale & Capacity
Operational Scale & Capacity 6
Slide 7: Delivering on Cost-Out & Optimizing Production Ramp
Operational Scale & Capacity Delivering on Cost-Out & Optimizing Production Ramp Driving improvements to yield quality product with faster throughput 1 2 3 Q3 Cost-Out Progress Mfg. Process Subassembly Process Battery Manufacturing Containerization Targeting 80% reduction from Z3 launch to scale Sem
Slide 8: Commercial Growth
Commercial Growth eos
Slide 9: Strengthening the Value Proposition
Commercial Growth Building a Full Strengthening the Value Proposition Bankability Offering Now quoting RTE in alignment with industry standards DC-DC Round Trip Energy Efficiency (RTE) for Z3 Module 1 95 Extending Warranty & Launching 90 C/16 Suite of Insurance Products 85 C/10 Technology Performanc
Slide 10: Current Commercial Activity
Commercial Growth Current Commercial Activity Total pipeline increased ~$0.4B from prior quarter 1 2 1 1 Lead Generation Commercial Opportunity Pipeline - $14.2B Backlog Active proposals LOI / Firm commitments $9.9B $2.7B $9.8B $1.7B $588.9M ~38 GWh ~10 GWh ~42 GWh ~7 GWh ~2.3 GWh Technical Non-bind
Slide 11: Financial Results & Forecast
Financial Results & Forecast 11
Slide 12: Enhancing Capital Flexibility
Financial Results & Forecast Enhancing Capital Flexibility $170m drawn from delayed draw term loan with additional capital for expansion Cerberus Delayed Draw Term Loan Cerberus Revolver DOE Loan Expected to be less than $170m $40.5m $105m $398.6m To be funded at Expansion program Funded to date Jan
Slide 13: Third Quarter 2024 Financials
Financial Results & Forecast Third Quarter 2024 Financials Business Highlights ($ in millions) Q3 2024 Q3 2023 Revenue increased 25%, lower than Revenue 0.9 0.7 expectations, attributable to enclosure supply chain impact Gross Loss (24.9) (20.6) COGS increased 21% driven by larger projects in commis
Slide 14: Fiscal Year 2024 Outlook
Financial Results & Forecast Fiscal Year 2024 Outlook Revised Revenue Contribution Reducing FY 2024 revenue Margin guidance due to the following: $15m Positive by Year End 1 Significantly below Q3 expectations attributable to enclosure supply chain On track Enclosure supply chain timing and Defined
Slide 15: Appendix
APPENDIX Eos. Positively ingenious. J e€os.
Slide 16: GAAP to Non-GAAP Reconciliation: Net Loss to Adjusted EBITDA
Appendix Financials GAAP TO NON-GAAP RECONCILATION UNAUDITED RECONCILATION OF NET LOSS TO ADJSUTED EBITDA (In thousands) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net (loss) income $ (342,866) $ 14,932 $ (417,746) $ (188,298) add: Interest expense 5,424 9,4
Slide 17: GAAP to Non-GAAP Reconciliation: Adjusted Earnings (Loss) Per Share
Appendix Financials GAAP TO NON-GAAP RECONCILATION UNAUDITED RECONCILATION OF NET INCOME (LOSS) TO ADJSUTED EARNINGS (LOSS) PER SHARE (In thousands) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net (loss) income attributable to common shareholders $ (384,133)
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