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
Operating Momentum (1)
Preliminary
4Q23
Revenue
$1.3M
105% YoY
PPA Backlog
160+
SCN Revenue Backlog
~$5M
Expected over next 2 qtrs(2)
Purchase
Commitment
$10M
Expected during 2024
Balance Sheet(3)
No Debt
$20.9M Inventory
Proactive Management
Right-sizing cost structure
Implemented cost reductions in 2H 2023 expected to increase Adjusted EBITDA margins in 2024
Equitize and extinguish Forward Purchase Agreement ("FPA")
Eliminated FPA for fixed number of shares and warrants
Capital raising
Exploring non-dilutive financing sources by leveraging existing assets
Evaluating equity transactions based upon market conditions
SCN Expansion
Signed strategic partnership with solar sales & installation company 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
Provided Full-Year 2024 Revenue Guidance Range of $20 million - $30 million (4)
1.Please refer to Company press releases dated December 14, 2023 and January 11, 2024 for more details.
2.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.
3.As of September 30, 2023. As reported in our quarterly report on Form 10-Q (as amended) filed with the Securities and Exchange Commission (the "SEC").
4.As provided in the Company's press release dated December 14, 2023 and reiterated in the Company's press release on January 11, 2024.
Strictly Confidential / Not for Redistribution
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