Eos Energy Enterprises, Inc. · NASDAQ:EOSE
Eos Energy Enterprises — Q1 2023 Earnings Presentation
14 slides from Eos Energy Enterprises's earnings presentation, May 10, 2023
Slide 1: Eos Energy Enterprises Q1 2023 Financial Results
Eos Energy Enterprises Q1 2023 Financial Results May 10, 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: 1 GWh total energy discharged in the field
1 GWh total energy discharged in the field Enough to 700 MWh Discharged Power ~140,000 2023 Year to Date homes for 4 hours 3
Slide 4: Operating Highlights
Operating Highlights Opportunity Pipeline 1 Booked Orders 2 Orders Backlog 1 $8.5 billion $86.3 million $535.1 million representing 32 GWh representing 347 MWh representing 2.2 GWh Cash On Hand 3 2 1 Discharge Energy Revenue 1.4 GWh $8.8 million $16.1 million Reached 1 GWh field discharge 168% incre
Slide 5: Commercial Pipeline & Orders Backlog
Commercial Pipeline & Orders Backlog 5
Slide 6: Current Commercial Activity
Commercial Pipeline & Orders Backlog Current Commercial Activity Current Pipeline increased $1B vs. Q4 ’22 1 1 1 Lead Generation Current Pipeline - $8.5B Backlog Active proposals LOI / Firm commitments $9.6B $1B $6B $1.5B $535.1M 57GWh 5GWh 20GWh 7GWh 2.2GWh Technical Non-binding proposal quote $1B
Slide 7: Converting early backlog into installed projects
Commercial Pipeline & Orders Backlog Converting early backlog into installed projects Project Evolution Key Customer Milestones Key P Pilot L LOI BO Booked order D Delivery C Commissioning Financing Permits & approvals Interconnections Site readiness 2020 2021 2022 2023 STATUS • Closed project finan
Slide 8: Operational Excellence
Operational Excellence eos
Slide 9: Gen 2.3: The Last 12 Months
Operational Excellence Gen 2.3: The Last 12 Months Rapidly ramped production to deliver largest customer project to date March 2022 April 2023 New manufacturing 34k+ 208 46 MWh Transitioning facility construction manufacturing to Eos Z3TM; begins; 2 welders online Batteries Energy Blocks Completed 4
Slide 10: Eos Z3 Battery Manufacturing
Operational Excellence Eos Z3 Battery Manufacturing TM 3 stage process to scale manufacturing and optimize CAPEX investment 1 2 3 Discrete Manufacturing Semi-Automated Fully Automated Operations Manufacturing Cells Manufacturing Line Q4 ‘22 – Q1 ’23 Q2 – Q3 ’23 Q4 ’23 – Q1 ’24 1M 5-7M 40-50M 110 MWh
Slide 11: Financial Results
Financial Results eos.
Slide 12: First Quarter 2023 Eos Income Statement
Financial Results First Quarter 2023 Eos Income Statement Revenue COGS $ in millions $ in millions ($ in millions) Q1 2023 Q1 2022 +168% -24% Revenue 8.8 3.3 8.8 35.6 Cost of goods sold 26.9 35.6 26.9 Gross Profit (18.1) (32.3) 3.3 R&D expense 5.4 5.0 SG&A expense 14.0 14.3 Q1 2022 Q1 2023 Q1 2022 Q
Slide 13: Liquidity/Capital Resources & Opportunities
Financial Results Liquidity/Capital Resources & Opportunities Our current capital infrastructure …and incentives for U.S. clean energy …we have capital flexibility… enables us to fund growth… companies accelerate Eos’ competitiveness Registered Direct $300M S-3 Shelf Inflation Reduction Act Tax Cred
Slide 14: Progress Against 2023 Objectives
Financial Results Progress Against 2023 Objectives $600–800M + Current opportunity pipeline increased $1B from Q4 ’22 + Signed 3 new Letters of Intent for 850 MWh in booked orders + Demand surging, 21% energy storage CAGR through 20301 + Q1 revenue of $8.8M includes final Gen 2.3 new build shipments
Eos Energy Enterprises — Q1 2023 Earnings Presentation on 6ix