Westport Fuel Systems, Inc. · TSX:WPRT
Westport Fuel Systems — Q2 2025 Earnings Presentation
16 slides from Westport Fuel Systems's earnings presentation, Aug 12, 2025
Slide 1: Driving Cleaner Performance: Q2 2025 Results
Driving Cleaner Performance Q2 2025 Results NASDAQ: WPRT, TSX: WPRT August 11, 2025
Slide 2: Disclaimer and Forward-Looking Statements
Westport Fuel Systems Disclaimer and Forward-Looking Statements This presentation contains forward-looking statements, including statements regarding, future revenue expectations, future growth in markets, future of our development programs (including those relating to HPDI and Hydrogen), the global
Slide 3: Speaking Today...
Speaking Today... Dan Sceli Bill Larkin Chief Executive Officer Chief Financial Officer Nasdaq/TSX: WPRT 3
Slide 4: Setting the Stage for a New Beginning
Setting the Stage for a New Beginning Financial Highlights: • Revenue for Q2 2025 was $12.5 million, as compared to $14.1 million Revenue + Cespira earned Adjusted EBITDA[1] $12.0 million of in the same quarter of last year. In addition, Cespira generated $12.0 (Millions) revenue in 2Q25 (Millions)
Slide 5: Renewed Focus: Westport has the Right Solutions for a Variety of Applications
Renewed Focus: Westport has the Right Solutions for a Variety of Applications Westport’s products are timeline agnostic – meeting the diverse market needs with products and technologies that enable the use of net zero and lower-carbon fuels now We differentiate by delivering performance, economics a
Slide 6: Outlook – Positioned to Capture the Transition
Outlook – Positioned to Capture the Transition Our adaptive strategy allows us to drive business and technology success 1. Global Heavy-Duty truck market is growing and is expected to reach 1.95 million units in 2025, up from 1.93 million in 2024.1 2. China is the world’s largest LNG market – Westpo
Slide 7: Revenue Story: from Q2 2024 to Q2 2025
Revenue Story: from Q2 2024 to Q2 2025 Cespira earned $12.0 million in Q2 2025 $7.1 $88.8 $83.4 -$0.7 -$0.9 + Cespira earned $12.0 million in revenue in 2Q25 $12.5 -$76.4 Q2 2024 Q2 2024 LD HPCS Heavy Duty OEM Q2 2025 L-D Discontinued Q2 2025 Reported Minuses: - Decreased sales in the High-Pressure
Slide 8: Adjusted EBITDA Year Over Year
Adjusted EBITDA Year Over Year (1) Adjusted EBITDA ($ millions) $4.4 -$1.0 -$2.0 -$0.8 -$2.6 Q2 2024 Equity Income Gross Profit Operating Expenses Q2 2025 Pluses: + Reduced operating expenses in HD OEM and Corporate Minuses: - Cespira loss in Equity Income 8 1 Adjusted earnings before interest, taxe
Slide 9: Financial Performance – High-Pressure Controls and Systems
Financial Performance – High-Pressure Controls and Systems Revenue Gross Profit(1) ($ Millions) ($ Millions) $1.1 $3.6 -19% Gross margin -91% Gross margin Gross margin $2.9 31% of 28% 3% of of revenue revenue revenue $0.1 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Revenue: • General slowdown in the hydrogen in
Slide 10: Financial Performance – Heavy-Duty OEM
Financial Performance – Heavy-Duty OEM Revenue Gross Profit(1) ($ Millions) ($ Millions) $1.3 Gross margin 12% of revenue $0.7 -46% $10.5 -9% $9.6 Gross margin 7% of revenue Q2 2024 Q2 2025 Q2 2024 Q2 2025 Revenue: • Reduction of our manufacturing support to Cespira. • The JV will operate without ma
Slide 11: Financial Performance – Cespira
Financial Performance – Cespira Revenue ($ Millions) Gross Profit(1) ($ Millions) $0.2 Axis Title Q2 2024 Q2 2025 $12.0 GrossGross margin margin 18% of 5% of revenue Gross revenue margin -16% of $4.1 revenue Q2 2024 Q2 2025 -$1.9 Axis Title Revenue: • Reflects a full quarter of HPDI fuel systems sol
Slide 12: Financial Performance – Light-Duty (Discontinued Operations)
Financial Performance – Light-Duty (Discontinued Operations) Revenue Gross Profit(1) $15.1 ($ Millions) $14.7 ($ Millions) Gross margin 1% of revenue 10% Gross margin 3% Gross margin Gross margin $76.4 14% of $69.3 21% of 20% of revenue Gross margin revenue revenue 9% of revenue Q2 2024 Q2 2025 Q2 2
Slide 13: Liquidity
Liquidity Debt Repayments & Inventory Optimization (excludes assets and liabilities classified as held-for-sale) Cash Debt (Millions) (Millions) $14.8 $6.8 $4.9 $6.1 Q4 2024 Q2 2025 Q4 2024 Q2 2025 • Q2 2025 Cash used in operating activities of $5.6 million. • Q2 2025 Capital contribution into Cespi
Slide 14: Light-Duty Divestiture Proceeds Recap
Light-Duty Divestiture Proceeds Recap Provided the Company with $62.5 million (€53.6 million) in net proceeds, after the deduction of net debt in the Light-Duty segment and certain other closing costs • $41.2M (€35.3M) in initial cash proceeds received (including the €5M short-term loan settled at C
Slide 15: In Closing...
In Closing… Westport is delivering practical applications today; helping to lead the energy transition in transport that is currently underway Q2 2025 Highlights: 1. Demonstrating continued improvement in key financial metrics, including in adjusted EBITDA primarily via cost reductions achieved duri
Slide 16: Thank you
Westport Thank you
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