Slide 1: Q1 2023 Earnings Call
OTCQX: TGEN EARNINGS CALL MAY 11, 2023 Q1 2023 1
Slide 2: Management
MANAGEMENT Abinand Rangesh – CEO & CFO Robert Panora – COO & President Roger Deschenes – CAO Jack Whiting – General Counsel & Secretary 2
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and accompanying documents contain “forward-looking statements” which may describe strategies, goals, outlooks or other non- historical matters, or projected revenues, Income, returns or other financial measures, that may include words such as "believe," "expe
Slide 4: Agenda
AGENDA Progress Update 1Q 2023 Results Q&A 4
Slide 5: Progress Update
PROGRESS UPDATE Q1 23 Revenue was 28% lower than Q1 22 but 35% higher than Q4 2022 Backlog by Customer Type Expect every subsequent quarter in 2023 to have higher revenue than the previous quarter Backlog at Q1 is $7.1m Multi-Family Residential Not included in backlog are some large projects with a
Slide 6: Power Generation, Clean Cooling, Long Term Maintenance
POWER LONG TERM GENERATION + MAINTENANCE & RESILIENCY ENERGY ASSET Modular microgrids for MANAGEMENT energy savings, Helping customers achieve greenhouse gas (GHG) predictable energy savings with reductions and resiliency comprehensive maintenance to grid outages services CLEAN COOLING Hybrid and En
Slide 7: Revenue Segments
REVENUE SEGMENTS PRODUCT SALES SERVICES Sales of combined heat and We service most purchased power, and clean cooling Tecogen equipment in operation systems to building owners. through long term maintenance Key market segments include agreements through 11 service multifamily residential, health CLE
Slide 8: Business Model
BUSINESS MODEL Most products are sold with a long-term maintenance contract Each unit we place in service increases the long-term recurring revenue Product Sale Service Year 1 Service Year 5 Service Year 10 Service Year 15 Service Year 20 Cost Operating Segment Profit 8
Slide 9: 1Q 2023 Results
1Q 2023 RESULTS $ in thousands 1Q'23 1Q'22 QoQ Change % Key Points Revenue • Net loss of $0.06/share Q1 2023 Products $ 1,710 $ 3,939 $ (2,229) Service 3,136 2,917 219 • Net Loss $1.5m Energy Production 534 582 (48) • Cash and equivalents balance of $1.6 Total Revenue 5,380 7,438 (2,059) -27.7% mill
Slide 10: 1Q 2023 Adjusted EBITDA Reconciliation
1Q 2023 ADJUSTED EBITDA RECONCILIATION EBITDA: Earnings Before Interest, Taxes, Quarter Ended, March 31 Depreciation & Amortization Non-GAAP financial disclosure (in thousands) 2023 2022 EBITDA and adjusted EBITDA were both Net income (loss) attributable to Tecogen Inc. $ (1,490) $ 89 negative at $1
Slide 11: 1Q 2023 Performance by Segment
1Q 2023 PERFORMANCE BY SEGMENT QoQ Change 1Q Revenues ($ thousands) 2023 2022 Products % Revenues Chiller margin has recovered to >40% Cogeneration $ 544 $ 2,174 -75% Cogeneration margin caused the overall Chiller 1,069 1,607 -33% reduction in product margin due to supply Engineered accessories 97 1
Slide 12: Summary and Q&A
SUMMARY AND Q&A 2023 Goals Company Information Free up cash and stabilize business Tecogen Inc. Grow Service division 45 First Ave Waltham, MA 02451 Make products easier to sell and install www.Tecogen.com Improve sales distribution system via owner direct sales channel partners & developers