Westport Fuel Systems, Inc. · TSX:WPRT
Westport Fuel Systems — Q1 2025 Earnings Presentation
15 slides from Westport Fuel Systems's earnings presentation, May 14, 2025
Slide 1: Driving Cleaner Performance: Q1 2025 Results
Driving Cleaner Performance Q1 2025 Results May 14, 2025 NASDAQ: WPRT, TSX: WPRT
Slide 2: Disclaimer and Forward-Looking Statements
NASDAQ: WPRT, TSX: WPRT Westport Fuel Systems Disclaimer and Forward-Looking Statements This presentation contains forward-looking statements, including statements regarding, future revenue expectations, future growth in markets, future of our development programs (including those relating to HPDI a
Slide 3: Speaking Today...
Speaking Today... NASDAQ: WPRT, TSX: WPRT Dan Sceli Bill Larkin Chief Executive Officer Chief Financial Officer Nasdaq/TSX: WPRT 3
Slide 4: Setting the Stage for a New Beginning
Setting the Stage for a New Beginning NASDAQ: WPRT, TSX: WPRT Financial Highlights: • Revenues for the period ended March 31, 2025 was $71.0 million. In Revenue + Cespira earned Adjusted EBITDA[1] addition, Cespira generated $16.7 million in revenue. (Millions) $16.7 million of (Millions) revenue in
Slide 5: Enhancing Value Through Focus
Enhancing Value Through Focus NASDAQ: WPRT, TSX: WPRT Near-, medium- and long-term priorities: 1 Driving Success via our HPDI Joint Venture 2 Improving Operational Excellence and Reducing Costs 3 Shaping a Future Powered by Alternative Fuels 5
Slide 6: Now 'til Next – Future Focused
Now ‘til Next – Future Focused NASDAQ: WPRT, TSX: WPRT Westport's products are timeline agnostic – meeting the diverse market needs with products and technologies that enable the use of net zero and lower-carbon fuels now while also having an affordable solution when H2 becomes more available Now: N
Slide 7: Revenue Story: Stability via Cespira
Revenue Story: Stability via Cespira Cespira earned $16.7 million in Q1 2025 Revenue ($ millions) + Cespira earned $16.7 million in revenue in 1Q25 $77.6 $0.9 -$1.0 $71.0 -$6.5 Q1 24 Light-Duty High-Pressure Heavy-Duty OEM Q1 25 Controls and Systems + Euro 6 Light-Duty business gains + Q1 2024 exper
Slide 8: Adjusted EBITDA Year Over Year
Adjusted EBITDA Year Over Year (1) NASDAQ: WPRT, TSX: WPRT Adjusted EBITDA ($ millions) $7.9 $- -$6.6 $2.5 -$3.8 Q1 2024 Equity Income Gross Margin Operating Expenses Q1 2025 Pluses: + $9.1 million improvement in EBITDA + Gross margin improvement + Reduced operating expenses in HD OEM and Corporate
Slide 9: Financial Performance – Light-Duty
Financial Performance – Light-Duty NASDAQ: WPRT, TSX: WPRT Revenue Gross Margin(1) ($ Millions) ($ Millions) $14.0 $12.4 Gross margin 1% of revenue 1% Gross margin 13% $63.3 $64.2 Gross margin Gross margin 14% of 20% of 22% of revenue Gross margin revenue revenue 9% of revenue Q1 24 Q1 25 Q1 2024 Q1
Slide 10: Financial Performance High-Pressure Controls and Systems
Financial Performance NASDAQ: WPRT, TSX: WPRT High-Pressure Controls and Systems Revenue Gross Margin(1) ($ Millions) ($ Millions) $0.4 Gross margin $0.2 -42% Grossmargin Gross margin -50% Gross of margin $2.4 25% Gross margin 17%ofof 18% 28% of revenue 20% of revenue $1.4 revenue Gross margin reven
Slide 11: Financial Performance – Heavy-Duty OEM
Financial Performance – Heavy-Duty OEM NASDAQ: WPRT, TSX: WPRT Revenue Gross Margin(1) ($ Millions) ($ Millions) $1.0 Gross margin 19% of Q1 2024 revenue Gross margin $11.9 -55% Gross margin Gross of 25% margin Gross Gross margin margin Q1revenue 2025 18% of 28% of (9)% 20% of of revenue revenue rev
Slide 12: Financial Performance – Cespira
Financial Performance – Cespira NASDAQ: WPRT, TSX: WPRT Revenue Gross Margin(1) ($ Millions) ($ Millions) $0.5 Gross margin $16.7 Gross margin Gross margin Gross of 25% margin Gross margin 3% of revenue 18% of 28% of revenue 20% of revenue revenue revenue Q1 2025 Q1 2025 Revenue: • Revenue increased
Slide 13: Liquidity
Liquidity NASDAQ: WPRT, TSX: WPRT Debt Repayments & Inventory Optimization Cash Debt (Millions) (Millions) $37.6 $32.6 $33.7 $31.1 Q4 2024 Q1 2025 Q4 2024 Q1 2025 • Cash used in operating activities of $4.9 million • Debt repayments of $3.9 million • Net cash used in working capital of $8.1 million
Slide 14: In Closing…
In Closing… NASDAQ: WPRT, TSX: WPRT Westport is delivering practical applications today; helping to lead the energy transition in transport that is currently underway Q1 2025 Highlights: • Demonstrating continued improvement in key financial metrics. • Cespira joint ventures generates increased reve
Slide 15: Thank you
NASDAQ: WPRT, TSX: WPRT Thank you 15
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