Electriq Power Provides Financial Update
2023年12月14日 - 10:56PM
ビジネスワイヤ(英語)
Anticipates 2024 Revenue of $20M- $30M Based on
Signed PPAs and Commitments through 2H 2023
Electriq Power Holdings, Inc. ("Electriq") (NYSE:ELIQ), a
trusted provider of intelligent energy storage and management
solutions for homes and small businesses, today provides a company
update and initial revenue guidance for full-year 2024.
Company Updates:
- Approximately $5 million in revenue backlog from over 160 Power
Purchase Agreements (PPA) signed via Sustainable Community Networks
(“SCN”)
- Approximately $10 million commitment from Sustainable Solutions
developers to purchase Electriq’s PowerPod 2 systems with expansion
in Puerto Rico and Washington D.C. in 2024 announced in
September
- Signed partnership agreement with solar sales and installation
company to fuel homeowner PPA signups and system installations
- Cost reductions implemented in 2H 2023 expected to extend the
Company’s cash runway and increase Adjusted EBITDA margins in
2024
- Closed previously announced extinguishment of company
obligations under restrictive forward purchase agreement with
Meteora through equity issuance
Outlook:
The Company is providing full-year 2024 revenue guidance range
based upon currently executed agreements and expectations:
2024 Revenue
Range
$20 million - $30 million
Frank Magnotti, CEO of Electriq Power, commented, “As a pioneer
in residential battery storage systems, we passionately believe in
distributed energy storage solutions to shape our world’s
environmental and economic future through equitable offerings. With
an integrated solution and differentiated go-to-market strategy, we
are creating value for our shareholders and a brighter, more
sustainable future for all. With the visibility into our backlog
and path to profitability, it is now time to execute our 2024
plan.”
Petrina Thomson, CFO of Electriq Power, commented, “We continue
to execute well on our business plan, partnering with local
governments such as recent announcements of Apple Valley,
California and Derby, Connecticut, in our Sustainable Community
Networks to secure PPAs with homeowners in those communities. With
nearly $5 million of backlog in our SCNs and over $10 million in
purchase commitments from our partners Barrio Electrico in Puerto
Rico and SEDC Solar in Washington D.C., we have sufficient
visibility to provide details on our financial objectives for full
year 2024. We are well positioned to achieve a year of robust
top-line growth in 2024, while simultaneously driving our margins
higher towards our long-term operating targets, both through scale
and cost reduction initiatives.”
About Electriq Power
Electriq (NYSE:ELIQ), founded in 2014 in the San Francisco Bay
Area, provides turnkey intelligent energy storage and management
solutions for homes and small businesses. Electriq’s solutions
deliver always-available, low-cost clean energy, even during
intermittent outages and inclement weather. Those solutions enable
cities, municipalities, and utilities to provide their constituents
with a path to sustainable and resilient sources of energy,
regardless of socio-economic status. For more information, visit
www.electriqpower.com.
Cautionary Note on Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Certain of these
forward-looking statements can be identified by the use of words
such as “anticipate,” “believe,” “could,” “continue,” “estimate,”
“expect,” “forecast,” “intend,” “may,” “might,” “outlook,” “plan,”
“possible,” “potential,” “predict,” “project,” “scheduled,” “seek,”
“should,” “will,” “would” or similar expressions, but the absence
of these words does not mean that a statement is not
forward-looking. Forward-looking statements in this press release
include statements regarding: (i) expectations regarding the
continued demand for clean energy from our customers and energy
solutions providers, (ii) backlog and commitments under our
Sustainable Community Networks and Sustainable Solutions,
respectively, (iii) trends relating to our power purchase
agreements, including the anticipation of revenues throughout 2024,
and (iv) expectations regarding our 2024 cost structure and cash
needs. These statements are based on the beliefs and assumptions of
Electriq’s management. Although Electriq believes that its plans,
intentions and expectations reflected in or suggested by these
forward-looking statements are reasonable, Electriq cannot assure
you that it will achieve or realize these plans, intentions, or
expectations. Forward-looking statements are inherently subject to
risks, uncertainties, and assumptions. Generally, statements that
are not historical facts, including statements concerning possible
or assumed future actions, business strategies, events or results
of operations, and any statements that refer to projections,
forecasts or other characterizations of future events or
circumstances, including any underlying assumptions, are forward
looking statements. These forward-looking statements are not
guarantees of performance. You should understand that these
statements are affected by factors set forth in Electriq’s filings
with the Securities and Exchange Commission (“SEC”), including but
not limited to (i) the risk that we are unable to grow our SCNs as
planned, (ii) the risk that we are unable to secure power purchase
agreements, (iii) the risk that we are unable to install systems as
quickly as expected, (iv) our ability to obtain enough capital to
meet our growth objectives and (v) those described under the
headings “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in Amendment No. 2 to Form S-1 filed
with the SEC on November 7, 2023, and in its other filings made
with the SEC from time to time, which are available via the SEC’s
website at www.sec.gov. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Electriq assumes
no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Electriq does not give any assurance
that it will achieve its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20231214873948/en/
Media enquiries for Electriq: media@electriqpower.com
Investor enquiries for Electriq: ir@electriqpower.com
Electriq Power (NYSE:ELIQ)
過去 株価チャート
から 5 2024 まで 6 2024
Electriq Power (NYSE:ELIQ)
過去 株価チャート
から 6 2023 まで 6 2024