Eos Energy Enterprises, Inc. · NASDAQ:EOSE
Eos Energy Enterprises — Q2 2023 Earnings Presentation
13 slides from Eos Energy Enterprises's earnings presentation, Aug 15, 2023
Slide 1: Eos Energy Enterprises Q2 2023 Financial Results
Eos Energy Enterprises Q2 2023 Financial Results August 15, 2023
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "pote
Slide 3: Operating Highlights
Operating Highlights 1 2 1 Opportunity Pipeline 1H Booked Orders Orders Backlog at 6/30 $9.7 billion $86.9 million $533.6 million representing 37 GWh representing 349 MWh representing 2.2 GWh 3 4 1 LTD Discharge Energy Q2 Revenue Cash On Hand at 6/30 1.4 GWh $0.2 million $23.2 million (1) Numbers sh
Slide 4: Eos Z3 Transition
Eos Z3 Transition Z3 Transition 4
Slide 5: Eos Z3 System Positions Eos to Become a Leader in LDES
Eos Z3 Transition Eos Z3 System Positions Eos to Become a Leader in LDES ™ Eos Z3 is designed to drive down cost, improve performance, and have a competitive levelized cost of storage 1 Design Enhancements 2 Initial Battery Performance 3 System Simplification Same validated chemistry with a simpler
Slide 6: Eos Z3 Launch Update
Eos Z3 Transition Eos Z3 Launch Update Beginning Eos Z3 battery module and Eos cube commercial manufacturing ramp Semi-Automated Manufacturing Cells Eos Z3 System and Assembly State-of-the-Art Manufacturing Design Design layout for existing TC Facility Early Successes Improvement Actions ✓ New BMS i
Slide 7: Eos Z3 Path to Profitability Driving Improvement Across Margins
Eos Z3 Transition Eos Z3 Path to Profitability Driving Improvement Across Margins More Competitive with market due to shortage of $/kWh 1 manufacturing capacity and increased LDES demand IRA tax credits accelerate path to break-even 2 IRA’s 10% Domestic ITC expected to allow price negotiation based
Slide 8: Commercial Pipeline & Orders Backlog
Commercial Pipeline & Orders Backlog 8
Slide 9: Current Commercial Activity
Commercial Pipeline & Orders Backlog Current Commercial Activity Total current pipeline increased $1.1B vs. Q1 ’23 1 1 1 Lead Generation Current Pipeline - $9.7B; 37 GWh Backlog Active proposals LOI / Firm commitments $10.9B $1.3B $6.8B $1.6B $533.6M 59 GWh 5 GWh 25 GWh 7 GWh 2.2 GWh Technical Non-b
Slide 10: Commercial to Operation Cashflow Cycle
Commercial Pipeline & Orders Backlog Commercial to Operation Cashflow Cycle Example model for working capital as up to 60% of cash is generally expected to be received prior to customer delivery Purchase Commercial Letter of Intent MSA Manufacturing Commissioning Commercial Operation OrderManufactur
Slide 11: Financial Results
Financial Results eos.
Slide 12: Second Quarter 2023 Eos Income Statement
Financial Results Second Quarter 2023 Eos Income Statement Revenue COGS $ in millions $ in millions ($ in millions) Q2 2023 Q2 2022 -96% -69% 5.9 36.9 Revenue 0.2 5.9 Cost of goods sold 11.2 36.9 Gross Profit (11.0) (31.0) 11.2 0.2 R&D expense 5.0 5.5 Q2 2022 Q2 2023 Q2 2022 Q2 2023 SG&A expense 13.
Slide 13: Progress Against 2023 Objectives
Financial Results Progress Against 2023 Objectives + Current opportunity pipeline increased $1.1B from Q1 ’23 $600–800M + Signed 5 new Letters of Intent for 1.2 GWh through 1H 2023 in booked orders + Continue to focus on key targeted states to capture market share $30–50M + 1H 2023 revenue of $9.1M
Eos Energy Enterprises — Q2 2023 Earnings Presentation on 6ix