Fuelcell Energy, Inc. · NASDAQ:FCEL
Fuelcell Energy — Q3 2020 Earnings Presentation
17 slides from Fuelcell Energy's earnings presentation, Sep 10, 2020
Slide 1: Q3 FY2020 Financial Results & Business Update
Q3 FY2020 Financial Results & Business Update September 10, 2020 FuelCell Energy Q3 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
Purpose Statement Enable The World To Live A Life Empowered By Clean Energy FuelCell Energy Q3 2020 Investor Presentation | 4
Slide 5: Today’s Messages
FuelCell Project with City of San Bernardino Today’s Messages SureSourceTM 1.4 MW Location: City of San Bernardino Municipal Water Department Continuing progress against our project backlog 1 ✓ Fully reopened main facility in Torrington, CT with safety-first approach to resuming operations; expected
Slide 6: Q3 2020 Financial Performance
Q3 2020 Financial Performance FuelCell Energy Q3 2020 Investor Presentation |
Slide 7: Third Quarter of Fiscal 2020 Highlights
FuelCell Project with CMEEC Third Quarter of Fiscal 2020 Highlights SureSourceTM 7.4 MW Location: U.S. Navy Subbase | Groton, CT REVENUE Revenue of $18.7M compared to $22.7M in Q3 FY19 ̶ Q3 FY19 included $10M of revenue related to license agreement with ExxonMobil Research and Engineering Company (E
Slide 8: Third Quarter of Fiscal 2020 Financial Performance
Third Quarter of Fiscal 2020 Financial Performance Net Loss, Net Loss to Common Shareholders, Backlog ($B) Loss from Ops and Adj. EBITDA1 ($M) $1.382 $1.328 $3.2 0.027 0.052 $(1.1) $(5.3) $(5.6) 1.162 1.100 $(8.3) $(10.8) $(16.1) $(15.3) 3Q19 3Q20 0.193 0.176 ▪ Net Loss to ▪ Net ▪ Loss from ▪ Adjust
Slide 9: Cash and Liquidity
Cash and Liquidity Cash and Equivalents ($M) Significant Improvement in Liquidity $107.3 ▪ $107.3M total cash, restricted cash, and equivalents 1 ▪ Increased liquidity with At-The-Market sales of $41.0 common stock generating net proceeds of $62.3M during Q3 FY20 and $7.8M subsequent to quarter end
Slide 10: Powerhouse Business Strategy: Transform, Strengthen, Grow
Powerhouse Business Strategy: Well Positioned for LT Growth and Value Creation Grow Strengthen Capture Growth by Leveraging Transform Strengthen the Business and Core Strengths and Partnerships Maximize Operational Efficiencies • Sales growth: Capitalizing on our core Build a Solid Financial Foundat
Slide 11: Building on Technological Strengths with Next-Gen Technologies
Building on Technological 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 ● Joint development
Slide 12: 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 Revenue Growth1 Double-digit CAGR ▪ Winning new business around the world Adjusted EBITDA Deliver Positive Adj. EBITDA ▪ Continued cost control FUTURE GOALS ▪
Slide 13: Key Investment Highlights
Key Investment Highlights Strengthened balance sheet with funding secured to 1 deliver long-term projects to generate recurring revenue Leadership committed to project execution, achieving 2 financial milestones and operational efficiencies Innovative technology for clean, reliable and scalable 3 ba
Slide 14: Q&A
Q&A Fuel Cell Project: SureSourceTM 7.4 MW FuelCell Energy Q3 2020 Investor Presentation | Yaphank, NY
Slide 15: Appendix
Appendix Fuel Cell Project: SureSourceTM 7.4 MW FuelCell Energy Q3 2020 Investor Presentation | Yaphank, NY
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three Months Ended July 31, Nine Months Ended July 31, (Amounts in thousands) 2020 2019 2020 2019 Net loss $ (15,331) $ (5,311) $ (70,251) $ (42,389) Depreciation and amortization (1) 4,726 3,921 13,828 8,319 Provision for income taxes 10 20 41 89 Other (income)/expen
Slide 17: FuelCell Energy Operating Portfolio and Project Backlog Overview
FuelCell Energy Operating Portfolio and Project Backlog Overview Operating Generation Portfolio as of July 31, 2020 RATED CAPACITY ACTUAL COMMERCIAL PPA TERM PROJECT NAME POWER OFF-TAKER LOCATION (1) (YEARS) (MW) OPERATION DATE Central CT State University ("CCSU") CCSU (CT University) New Britian, C