Slide 1: Q1 2024 Earnings Call
OTCQX: TGEN EARNINGS CALL MAY 9, 2024 Q1 2024 1
Slide 2: Management
MANAGEMENT Abinand Rangesh – CEO 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 Key Takeaways Q1 2024 • Factory Move • Service Agreement Acquisitions • Marketing 1Q 2024 Results Summary Q&A 4
Slide 5: Factory Move
FACTORY MOVE Offices Moved into 76 Treble Cove Road Manufacturing All material is moved in Factory floor fit out in progress Test cells to be completed in Q2 Significant cost savings using our own labor Disruption Limited production in Q2 Back to full production Q3 5
Slide 6: Service Agreement Acquisitions
SERVICE AGREEMENT ACQUISITIONS 83 agreements acquired in 2024 16 agreements in Feb with 36 coming online later this year 31 agreements on May 1 Revenue Impact Expect $700k additional impact in 2024 Expect >$1m additional impact in 2025 Expect further 50 units under agreement in next 3 months 6
Slide 7: Marketing
MARKETING Google and LinkedIn Ads Streamlined website with case studies and applications Tecogen.com/applications/generator Tecogen.com/markets/brewery-glycol-chiller Online Marketing is now generating qualified leads at the similar cost per lead as trade shows 7
Slide 8: Backlog and Cash
BACKLOG AND CASH Backlog by Customer Type Multi-Family Other Backlog is presently $4.8m 30% Residential 15% Additional $7m of projects expected to close in 1 to 3 months Cash position $1.5m at quarter end and $1.3m presently Cashflow positive in Q1 Controlled $500k drawn under credit line and have $
Slide 9: 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 10: 1Q 2024 Results
1Q 2024 RESULTS $ in thousands 1Q'24 1Q'23 QoQ Change % Revenue Key Points Products $ 1,491 $ 1,710 $ (219) Services 4,014 3,136 878 • Revenue = $6.18 million up 15% Energy Production 680 534 147 • Net loss of $0.04/share Total Revenue 6,186 5,380 806 15.0% • Net loss $1.1m Gross Profit Products 1,0
Slide 11: 1Q 2024 Adjusted EBITDA Reconciliation
1Q 2024 ADJUSTED EBITDA RECONCILIATION EBITDA: Earnings Before Interest, Taxes, Depreciation & Amortization Quarter Ended, March 31 • EBITDA and adjusted EBITDA loss was $924k Non-GAAP financial disclosure (in thousands) 2024 2023 and $898k respectively Net loss attributable to Tecogen Inc. $ (1,105
Slide 12: 1Q 24 Performance by Segment
1Q 24 PERFORMANCE BY SEGMENT QoQ Change 1Q Revenues ($ thousands) 2024 2023 % Revenues Product revenue decreased 13% QoQ Cogeneration $ 774 $ 544 42% • Gross margin flat Chiller 657 1,069 -39% • Product mix meant lower gross margin Engineered accessories 60 97 -38% Total Product Revenues 1,491 1,710
Slide 13: Summary and Q&A
SUMMARY AND Q&A Company Information Factory Move Finish fit out and get production back by Q3 Tecogen, Inc 76 Treble Cove Road, Building 1 Service – Foundation of the business North Billerica, MA 01862 Keep expanding the service fleet www.Tecogen.com Expect 20% growth YoY Contact information Marketi