Slide 1: FY 2021 Earnings Call
OTCQX: TGEN FY 2021 EARNINGS CALL MARCH 10, 2022 1
Slide 2: Management
MANAGEMENT Benjamin Locke - CEO Robert Panora – COO & President Abinand Rangesh – CFO & Treasurer 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 Tecogen Overview 4Q 2021 Results FY 2021 Results Earnings Takeaways Q&A 4
Slide 5: Providing resiliency and energy savings with a cleaner environmental footprint
Units Shipped Providing resiliency and energy savings with a cleaner environmental footprint 5
Slide 6: Distributed Generation Emissions and Clean Cooling
DISTRIBUTED EMISSIONS GENERATION Near zero NOx and CO 3 rd in number of emissions systems for microgrids installed in gasoline, propane and North America natural gas engines CLEAN COOLING Chillers with lower operating cost and lower greenhouse gas footprint compared to an equivalent electric chiller
Slide 7: Facts About Us
FACTS ABOUT US 200,000+ 3,000+ 2.1M+ 52M+ METRIC TONS OF CO2 DISTRIBUTED KWH GENERATED PRODUCT RUN SAVED GENERATION AND HOURS CHILLERS SHIPPED 7
Slide 8: 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 9: 4Q 2021 Results
4Q 2021 RESULTS $ in thousands 4Q'21 4Q'20 YoY Change % Highlights Revenue • Net Income of $0/share Q4 2021 Products $ 3,693 $ 1,923 $ 1,770 Service 3,087 3,292 (206) • Net Income $63k Energy Production 400 441 (41) • Cash and equivalents balance of $3.6 million Total Revenue 7,180 5,657 1,523 26.9%
Slide 10: YE 2021 Results
YE 2021 RESULTS $ in thousands YE 21 YE 20 YoY Change % Highlights Revenue • Net Income of $0.15/share YE 2021 Products $ 10,133 $ 11,467 $ (1,333) • Net Income $3.69m Service 12,526 14,951 (2,425) Energy Production 1,739 1,837 (98) Total Revenue 24,398 28,254 (3,856) -13.6% Revenue = $24.39 million
Slide 11: 4Q 2021 Adjusted EBITDA Reconciliation
4Q 2021 ADJUSTED EBITDA RECONCILIATION Quarter Ended, Dec. 31, EBITDA: Earnings Before Interest, Taxes, Non-GAAP financial disclosure (in thousands) 2021 2020 Depreciation & Amortization Net income (loss) attributable to Tecogen Inc. $ 63 $ (4,062) Interest expense, net 1 5 EBITDA and adjusted EBITD
Slide 12: YE 2021 Adjusted EBITDA Reconciliation
YE 2021 ADJUSTED EBITDA RECONCILIATION Year Ended, Dec. 31, EBITDA: Earnings Before Interest, Taxes, Depreciation Non-GAAP financial disclosure (in thousands) FY 2021 FY 2020 & Amortization Net income (loss) attributable to Tecogen Inc. $ 3,696 $ (6,151) EBITDA and Adjusted EBITDA favorably impacted
Slide 13: 4Q 21 Performance by Segment
4Q 21 PERFORMANCE BY SEGMENT 4Q Revenues ($ thousands) 2021 2020 YoY Growth Revenues Cogeneration $ 721 $ 999 -28% Product Revenue increased 92% QoQ Chiller 2,794 782 257% • 257% increase in chiller shipments Engineered accessories 178 142 25% Total Product Revenues 3,693 1,923 92% • Product backlog
Slide 14: YE 21 Performance by Segment
YE 21 PERFORMANCE BY SEGMENT YE 2021 Revenues ($ thousands) 2021 2020 YoY Growth Revenues Cogeneration $ 3,264 $ 9,234 -65% Product Revenue decreased 12% YoY Chiller 5,723 1,300 340% • 340% increase in chiller shipments Engineered accessories 1,146 933 23% Total Product Revenues 10,133 11,467 -12% •
Slide 15: 2021 Earnings Takeaways
2021 EARNINGS TAKEAWAYS Business Segments Recovering from COVID Challenges • Q4 Product Revenue $3.69 mm, Product Backlog $11.8 mm Backlog by Customer Type Healthcare Multi-Family • Continued penetration into Cannabis and controlled environment 11% Residential agriculture markets 19% • Signed up new
Slide 16: Pathway to Growth
PATHWAY TO GROWTH Clean Microgrids using CHP in combination with other 2022 energy technologies including solar and battery Anticipate Introduction of Tecochill Air Cooled Chillers that incorporate the Tecogen hybrid drive technology by Q4 2022. This addresses a gap in our Tecochill offering as air
Slide 17: Q&A Company Information Contact information
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 17