Slide 1: Third Quarter 2020 Earnings Call
OCTQX: TGEN THIRD QUARTER 2020 Earnings Call November 12, 2020
Slide 2: Participants
Participants Benjamin Locke Chief Executive Officer President & Chief Operating Robert Panora Officer 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: Earnings Call Agenda
Earnings Call Agenda Agenda: Tecogen Overview 3Q 2020 Results 3Q 2020 Performance by Segment 3Q 2020 Earnings Takeaways Ultera Emissions Update Q&A 4
Slide 5: Tecogen Overview
Tecogen Overview Clean and Efficient Energy Systems Leader in Distributed Generation Technology • Unmatched efficiency of air-conditioning and cooling systems • Ultera technology ensures emissions compliance in most stringent US districts • Enable black-start and off-grid power generation • Ranked 3
Slide 6: 3Q 2020 Results
3Q 2020 Results YoY $ in thousands 3Q'20 3Q'19 % Chg Change Revenue = $7.2 million Revenue Products $ 2,660 $ 3,790 $ (1,130) • Compared to $8.67 million in 3Q’19, 18.5% decrease Service 4,171 4,249 (78) • Product revenue down 30% Energy Production 369 632 (263) Total Revenue 7,200 8,671 (1,471) -18
Slide 7: 3Q 2020 Results (Continued)
3Q 2020 Results (Continued) Reconciliation of 3Q 2020 and 2019 Net loss to Adjusted EBITDA EBITDA: Earnings Before Interest, Taxes, Quarter Ended, September 30, Depreciation & Amortization Non-GAAP financial disclosure 2020 2019 EBITDA Non-cash adjustments Net loss attributable to Tecogen Inc. Inter
Slide 8: 3Q '20 Performance by Segment
3Q ’20 Performance by Segment Product Sales Slowed by Project Service Contracts/Parts Energy Production Revenue Delays Recovered in 3Q Slowed by COVID YoY % of Q3 Revenue ($k) 2020 2019 Growth Total Rev Revenue Cogeneration $ 1,890 $ 1,656 14% 26% Chiller 770 2,135 -64% 11% Total Product Revenue 2,6
Slide 9: 3Q '20 Earnings Takeaways
3Q ‘20 Earnings Takeaways Core Business Segments Performed Well Despite COVID Challenges • Product sales segment down YoY, Quarter over Quarter • Service revenue segment down only 2% despite COVID • Energy production segment still disrupted by COVID Sustainable Corporate Improvements • Reduced OpEx
Slide 10: Ultera Emissions Update
Ultera Emissions Update Completed Licensing Agreement With Origin Engines Co. OEM engine supplier to multiple natural gas and propane markets Including forklifts, generators, and water pumps Significantly expands Ultera commercial potential California water district large engine Ultera kit order In
Slide 11: Q&A
Q&A Company Information Tecogen, Inc 45 First Ave Waltham, MA 02451 www.Tecogen.com Contact information Benjamin Locke, CEO 781.466.6402 Benjamin.Locke@Tecogen.com 11