Investor Presentaiton
Q3 2023 YTD Results Versus Q3 2022 YTD
$'s in millions
Q3 2023 YTD revenue and gross profit primarily due to advancement on the
Company's BESS projects.
OPEX (excluding stock-based compensation) increased $7.6M versus 2022
Stock-based compensation was $34.5M in 2023 up from $26.8M in 2022.
о
о
Sales & Marketing (ex-stock comp) increased $2.9M driven by increased
personnel costs due to increased headcount.
R&D (ex-stock comp) increased $3.0M driven by increased personnel costs due
to increased headcount.
G&A (ex-stock comp) increased $11.5M driven by increased personnel costs due
to increased headcount, software costs, and insurance expenses.
Increase in operating loss of $45.2M versus 2022 driven by a decrease in licensing
revenue and an increase in operating costs. Licensing revenue in 2022 did not have
any associated cost of revenue.
YTD 2023
YTD 2022
Change
Bookings [MWH]
400
495
(95)
Bookings [$]
170.5
$
256.8
$
(86.3)
•
Revenue
223.3
45.6
177.7
•
Gross profit
13.5
43.4
(29.9)
Gross margin %
6.1 %
95.2 %
о
Operating expenses:
Sales and marketing
13.6
8.3
5.3
R&D
29.6
28.8
0.8
G&A
52.2
33.3
18.9
Depreciation & Amortization
0.7
7.6
(6.9)
о
Asset impairment
2.8
(2.8)
Total operating expenses
96.1
80.8
15.3
Operating loss
(82.6)
(37.4)
(45.2)
Other income:
Interest income
6.1
1.4
4.7
Change in FV of warrant liability
2.1
(2.1)
Transaction costs
(20.6)
Other
(0.3)
(0.2)
(0.1)
Total other income
5.8
(17.3)
2.5
Provision (benefit) for income taxes
(0.4)
0.4
(0.8)
Net loss
$
(76.4) $
(55.1)
$
(41.9)
Cash on hand
$
132.2
274.7
(142.5)
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Enabling a Renewable World
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