Fuelcell Energy, Inc. · NASDAQ:FCEL
Fuelcell Energy — Q2 2020 Earnings Presentation
17 slides from Fuelcell Energy's earnings presentation, Jun 12, 2020
Slide 1: Q2 FY2020 Financial Results & Business Update
Q2 FY2020 Financial Results & Business Update June 12, 2020 Exhibit 99.2
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements with respect to the Company’s anticipated financial results and statements re
Slide 3: FuelCell Energy: A Global Leader in Fuel Cell Technology
GLOBAL CUSTOMERS FuelCell Energy: A Global Leader in Fuel Cell Technology – Operating Since 1969 Demand for Clean, Reliable Electricity Driving Adoption of Fuel Cell Technology COMPANY HIGHLIGHTS1 Headquarters Danbury, CT Listing: NASDAQ FCEL Employees ~300 Continents 3 Global Plant Installations 59
Slide 4: Purpose Statement
Purpose Statement Enable The World To Live A Life Empowered By Clean Energy
Slide 5: Today's Messages
Today’s Messages Fiscal Q2 revenue growth reflecting growth across the business 1 Improved margins compared to prior year led by increased Advanced Technology work on Carbon Capture Technology, partially offset by unabsorbed fixed costs as a result of the Covid-19 pandemic 2 3 Additional financing a
Slide 6: Q2 2020 Financial Performance
Q2 2020 Financial Performance
Slide 7: Second Quarter of Fiscal 2020 Highlights
Second Quarter of Fiscal 2020 Highlights REVENUE 105% increase to $18.9M in Q2 FY20 versus $9.2M in Q2 FY19 GROSS PROFIT $0.17M vs. $(3.6M) in Q2 FY19 OPERATING EXPENSE 41%, or $5.7M, decrease vs. Q2 FY19 LOSS FROM OPERATIONS Improved to $(8.1M) vs. $(17.6M) in Q2 FY19 Improving Financial Performanc
Slide 8: Second Quarter of Fiscal 2020 Financial Performance
Second Quarter of Fiscal 2020 Financial Performance Operational Expenses, Cash and Equivalents, and COVID-19 Impacts Managed 1 Refer to reconciliation in Appendix. 2 As of 4/30/20. 3 Cash funded under the Orion Energy Partners loan facility to pay for approved project related expenses Net Loss, Net
Slide 9: Capital Structure Supports Execution of Business Plan
Capital Structure Supports Execution of Business Plan Liquidity to Execute Backlog and Support Anticipated Growth 1. Crestmark Sale-Leaseback $14.4M, ten-year sale-leaseback financing structure allows 2.8MW Tulare BioMAT project to move into Generation portfolio, improving recurring cash flows and m
Slide 10: Powerhouse Business Strategy
Powerhouse Business Strategy Positioning FuelCell Energy for Long-term Growth and Value Creation On a Three-year Execution Path to Transform the Company TRANSFORM STRENGTHEN GROW Build a Solid Financial Foundation Strengthen the Business and Maximize Operational Efficiencies Capture Growth by Levera
Slide 11: Focused on Execution
Focused on Execution Continuing Progress on Key Projects and Evolving Clean Energy Technologies MOST RECENT PROJECT MOBILIZATION San Bernardino Project, California 1 LIPA Project in Yaphank, Long Island, NY 2 Fuel Cell Project: SureSourceTM 1.4 MW San Bernardino Municipal Water Department San Bernar
Slide 12: Continued Focus on Profitable Growth
Continued Focus on Profitable Growth Enabled by Strengthened Financial Position and Sources of Funding FY 2022 TARGETS Grow Generation Portfolio1 100% Revenue Growth1 Double-digit CAGR Adjusted EBITDA Deliver Positive Adj. EBITDA FUTURE GOALS Achieve Grid Pricing Parity Positive EBITDA Positive Free
Slide 13: Key Investment Highlights
Key Investment Highlights 1 2 3 4 Strengthened balance sheet with funding secured to deliver long-term projects to generate recurring revenue New leadership committed to project execution, achieving financial milestones and operational efficiencies Unrivaled technology for ultra-clean, reliable and
Slide 14: Q&A
Q&A fuelcellenergy
Slide 15: Appendix
Appendix fuelcellenergy
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation These supplemental non-GAAP measures are provided to assist readers in determining operating performance. Management believes EBITDA and Adjusted EBITDA are useful in assessing performance and highlighting trends on an overall basis. Management also believes these mea
Slide 17: FuelCell Energy Operating Portfolio and Project Backlog Overview
FuelCell Energy Operating Portfolio and Project Backlog Overview Refers to FCEL fiscal quarter (1) (1)