Eos Energy Enterprises, Inc. · NASDAQ:EOSE
Eos Energy Enterprises — Q1 2024 Earnings Presentation
15 slides from Eos Energy Enterprises's earnings presentation, May 15, 2024
Slide 1: Eos Energy Enterprises Q1 2024 Financial Results
Eos Energy Enterprises Q1 2024 Financial Results May 15, 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: Completed Successful Line 1 Factory Acceptance Testing (FAT)
Highlights Completed Successful Line 1 Factory Acceptance Testing (FAT) Installing line in Turtle Creek, PA for planned Q2 Site Acceptance Testing (SAT) FAT Complete Final de-bugging & system integration completed in 6 weeks Achieved 12-second cycle time All process stations verified for desig
Slide 4: Running the Business Operationally
Highlights Running the Business Operationally Continued progress toward goals outlined in December 2023 Strategic Outlook Call Eos Z3 Cubes set on foundations in New Jersey Progress since 12/12/23 Cash Flow Impact • Transitioned to lower-cost, higher energy density Z3 battery module Reduced Z3 Perfo
Slide 5: Operating Highlights
Operating Highlights Booked Orders 2 1 Commercial Pipeline Orders Backlog at 3/31 1 $13.3 billion $125 million $602.7 million Representing ~49 GWh Representing 500 MWh Representing ~2.4 GWh 1 Cash On Hand at 3/31 2 Discharge Energy Q1 Revenue 3 3.0 GWh $6.6 million $31.8 million ~2.6 GWh in the fiel
Slide 6: Commercial Opportunity Pipeline & Orders Backlog
Commercial Opportunity Pipeline & Orders Backlog 6
Slide 7: Total Cumulative Energy Discharged Surpasses 3.0 GWh
Commercial Opportunity Pipeline & Orders Backlog Total Cumulative Energy Discharged Surpasses 3.0 GWh Over 1.4 GWh discharged energy from Jan to April 2024 primarily by existing Gen 2.3 projects 2.6 GWh .2 GWh .2 GWh 3.0 GWh Field FAT Lab TOTAL Total Energy Discharged Over 400 MWh discharged in 3 we
Slide 8: Current Commercial Activity
Commercial Opportunity Pipeline & Orders Backlog Current Commercial Activity Q1 LOI conversion increased commercial backlog to over $600M 1 1 1 Lead Generation Commercial Opportunity Pipeline - $13.3B Backlog Active proposals LOI / Firm commitments $9.5B $2.1B $9.9B $1.3B $602.7M ~37GWh ~8GWh ~35GWh
Slide 9: Operational Performance & Capacity
Operational Performance & Capacity 9
Slide 10: Design Enhancements Driving Cost-Out Cost Roadmap
Operational Performance & Capacity Design Enhancements Driving Cost-Out Cost Roadmap Transitioned to newer lower-cost Z3 battery module and Inline Cube Lower-Cost, Higher Energy Eos Z3TM Density Z3 Battery Module Inline Energy Cube Current Eos Z3TM Cube Old energy density up to 695 kWh1 New Addition
Slide 11: Achieving Progress on Z3 Cost Out Target
Operational Performance & Capacity Achieving Progress on Z3 Cost Out Target Ahead of plan; accelerated direct material reductions while implementing lower-cost designed product $/kWh Direct Material Manufacturing Overhead Direct Labor + Lower overhead absorption driven by cost-out & performance Manu
Slide 12: Financial Results & Forecast
Financial Results & Forecast 12
Slide 13: First Quarter 2024 Eos Income Statement
Financial Results & Forecast First Quarter 2024 Eos Income Statement Revenue COGS ($ in millions) Q1 2024 Q1 2023 $ in millions $ in millions -25% +5% Revenue 6.6 8.8 8.8 28.2 26.9 Cost of Goods Sold 28.2 26.9 6.6 Gross Loss (21.6) (18.1) R&D expense 5.2 5.4 SG&A expense 14.2 14.0 Q1 2024 Q1 2023 Q1
Slide 14: Efficient Capital Model to Scale Capacity
Financial Results & Forecast Efficient Capital Model to Scale Capacity 1.25 GWh capacity on budget for SotA Line 1; further investment to increase capacity and throughput Line 1 Expected Capex for 1.25 GWh Annualized Capacity Investment Highlights Automation 1 In line with 1.25 GWh Injection Molding
Slide 15: Reaffirming Fiscal Year 2024 Outlook
Financial Results & Forecast Reaffirming Fiscal Year 2024 Outlook Upcoming Key Events SotA Line 1 SAT Contribution Scheduled for Q2 2024 Revenue Margin Stifel 2024 Cross Sector Conference June 5, 2024 $60M - $90M Positive in Q4 Evercore ISI Global Clean Energy & Transition Technologies June 12, 2024
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