Fuelcell Energy, Inc. · NASDAQ:FCEL
Fuelcell Energy — Q4 2020 Earnings Presentation
18 slides from Fuelcell Energy's earnings presentation, Jan 21, 2021
Slide 1: Fourth Quarter and Fiscal 2020 Financial Results & Strategy Update
Fourth Quarter and Fiscal 2020 Financial Results & Strategy Update January 21, 2021 FuelCell Energy Q4 2020 Investor Presentation |
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 r
Slide 3: FuelCell Energy: A Global Leader in Fuel Cell Technology – Operating Since 1969
FuelCell Energy: A Global Leader in Fuel Cell Technology – Operating Since 1969 COMPANY OVERVIEW GLOBAL CUSTOMERS Deliver clean and affordable fuel cell solutions for the supply, recovery and storage of energy SureSource fuel cell systems provide continuous baseload power and are deployed with u
Slide 4: Purpose Statement: Enable The World To Live A Life Empowered By Clean Energy
Purpose Statement Enable The World To Live A Life Empowered By Clean Energy FuelCell Energy Q4 2020 Investor Presentation | 4
Slide 5: Today's Messages
FuelCell Project with San Bernardino, CA Today’s Messages SureSourceTM 1.4 MW Location: San Bernardino Municipal Waste Water District | San Bernardino, CA Made continuing progress against our project backlog 1 Fiscal year 2020 revenue grew approximately 17% to $70.9M Completed 2.8 MW biogas powe
Slide 6: Q4 and Fiscal 2020 Financial Performance
Q4 and Fiscal 2020 Financial Performance FuelCell Energy Q4 2020 Investor Presentation |
Slide 7: Q4 and Fiscal 2020 Financial Highlights
FuelCell Project with CMEEC Q4 and Fiscal 2020 Financial Highlights SureSourceTM 7.4 MW Location: U.S. Navy Subbase | Groton, CT Q4 2020 Financial Highlights Revenues increased approximately 54% to $17.0M, primarily benefitting from increased service revenue recognized for module exchanges at thre
Slide 8: Fourth Quarter of Fiscal 2020 Financial Performance and Backlog
Fourth Quarter of Fiscal 2020 Financial Performance and Backlog Net Loss to Common Shareholders, Net Loss, Backlog as of October 31st ($B) Loss from Ops and Adj. EBITDA1 ($M) Q4 2020 $1.319 $1.285 Q4 2019 $0.012 $0.049 $(8.6) $(11.0) $1.114 $1.067 $(17.1) $(19.7) $(18.9) $(33.0) $(36.0) $(35.2) $0.1
Slide 9: Cash and Liquidity
Cash and Liquidity Significant Improvement in Liquidity Cash and Equivalents ($M) As of October 31, 2020, total cash, restricted cash, and equivalents of $192.1M Company raised $173.2M through common stock sales and warrant exercises in fiscal year 2020 $239.6 $31.0 $192.1 Subsequent to fiscal yea
Slide 10: Operational Update
Operational Update Made continuing progress against our project backlog During fiscal year 2020 we completed our 2.8 MW biogas power platform in Tulare, CA Near completion on 8.8 MW of new power platforms • U.S. Navy base in Groton, CT • Biogas project in San Bernardino, CA After fiscal year e
Slide 11: Powerhouse Business Strategy: Well Positioned for LT Growth and Value Creation
Powerhouse Business Strategy: Well Positioned for LT Growth and Value Creation Grow Strengthen Penetrate Significant Market Opportunities Transform Where We Can Win Drive Operational Excellence Build a Durable Financial Foundation and • Optimization of core business: Capitalizing on Enhance Financia
Slide 12: Building on Multi-Featured Current Technology Strengths with Next-Gen Technologies
Building on Multi-Featured Current Technology Strengths with Next-Gen Technologies Distributed Distributed Hydrogen & Carbon Generation Hydrogen Energy Storage Capture INDUSTRY APPLICATION ● Enabling microgrid power generation ● Developing Facility in Long Beach to ● Advancing reversible solid oxide
Slide 13: Long Term Targets and Goals
Long Term Targets and Goals FY 2022 TARGETS KEYS TO BUSINESS PLAN ACHIEVEMENT Grow Generation Portfolio1 100% Execution on project backlog & achieving key milestones Revenue Growth1 Double-digit CAGR Winning new business around the world Adjusted EBITDA Deliver Positive Adj. EBITDA Continued c
Slide 14: Key Investment Highlights
Key Investment Highlights Strengthened balance sheet with liquidity to complete 1 project backlog and accelerate commercialization of new technologies Leadership committed to project execution, achieving financial 2 milestones, and delivering state-of-the-art fuel cell platforms to contribute to dec
Slide 15: Q&A
Q&A Fuel Cell Project: SureSourceTM 7.4 MW FuelCell Energy Q4 2020 Investor Presentation | Yaphank, NY
Slide 16: Appendix
Appendix Fuel Cell Project: SureSourceTM 7.4 MW FuelCell Energy Q4 2020 Investor Presentation | Yaphank, NY
Slide 17: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three Months Ended October 31, Year Ended October 31, (Amounts in thousands) 2020 2019 2020 2019 Net loss $ (18,856) $ (35,179) $ (89,107) $ (77,568) Depreciation and amortization (1) 5,549 4,034 19,377 12,353 Provision for income taxes 5 20 46 109 Other income, net(2
Slide 18: FuelCell Energy Operating Portfolio and Project Backlog Overview
FuelCell Energy Operating Portfolio and Project Backlog Overview Operating Generation Portfolio as of October 31, 2020 RATED CAPACITY ACTUAL COMMERCIAL PPA TERM PROJECT NAME POWER OFF-TAKER LOCATION (MW) OPERATION DATE (1) (YEARS) Central CT State University ("CCSU") CCSU (CT University) New Britian