Electriq Power - Sustainable Community Networks Overview
BUSINESS EXECUTION
Electriq Power is scaling and taking proactive measures to build a foundation for success as we enter 2024
electriq
power
3Q23 Operating Momentum
Capitalization (2)
Revenue
$0.8M
8x QoQ
SCN Revenue Backlog
~$3M
Class A Shares O/S
~41.7M
Expected over next 2 qtrs(1)
PPA Backlog
Adjusted EBITDA
100+
Market Capitalization
~$25.0M
$(3.3)M
+$5.1M QOQ
Balance Sheet
$8.1 M Cash on Hand
No Debt
$20.9M Inventory
Enterprise Value
~$16.9M
Proactive Management
Right-sizing cost structure
Expect to reduce cash needs and extend runway
Equitize and extinguish Forward Purchase Agreement ("FPA")(3)
Binding term sheet to eliminate FPA for fixed number of shares and
warrants, in lieu of any cash requirement
Capital raising
Exploring non-dilutive financing sources by leveraging existing assets
Evaluating equity transactions based upon market conditions
SCN Expansion
Assessing strategic partnerships with solar sales & installation companies to complement
our existing capabilities to help fuel signups and installations
Honing marketing message to be more battery-centric
Geographic diversity with signing of agreement in Derby, Connecticut
Anticipate providing 2024 financial guidance in Electriq's YE 2023 earnings release March 2024
1.Approximate time for revenue to be recognized under our Sustainable Community Networks is between 4 to 9 months, with a midpoint of 6 months. This is an
estimate of the time from signing a PPA through permission to operate of a system at a homeowner site.
2.Class A Common Stock issued and outstanding as per the Prospectus filed with the U.S. Securities and Exchange Commission on November 13, 2023. Market
Capitalization assumes a share price of $0.60 per share, the closing price on November 27, 2023. Enterprise Value is the Market Capitalization plus outstanding debt
less Cash as of September 30, 2023.
3.A copy of the binding term sheet was filed with the U.S. Securities and Exchange Commission on November 15, 2023.
Strictly Confidential / Not for Redistribution
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