Company Classification and Financial Reporting - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to provide only two years of audited financial statements and selected financial data [92]. - The company will maintain its status as an emerging growth company until it reaches total annual gross revenue of $1.235 billion or other specified conditions [93]. Market and Economic Risks - The ongoing military conflict in Ukraine may adversely affect the company's operations and expansion plans in the European Union due to sanctions and market disruptions [95]. - The conflict between Israel and Hamas has negatively impacted the global economy, which could affect the company's business and financial condition [96][98]. - The company faces risks from inflationary pressures and market fluctuations, including tariffs that could increase the cost of products and labor [99][100][101]. Demand and Competition - The demand for electric vehicles (EVs) is crucial for the company's growth, with potential impacts from regulatory changes and competition from alternative fuel vehicles [105][107]. - The company relies on lithium-ion batteries, which have faced safety concerns, potentially affecting market conditions and customer perceptions [111][112]. - Changes in energy storage standards or the success of alternative technologies could negatively impact the demand for the company's battery energy storage products [113][114]. - The company may incur significant costs related to environmental regulations for the storage and shipment of lithium-ion battery packs [115]. - The company's future growth is partly dependent on the rapid adoption of decentralized renewable energy [117]. - The market for individual installed renewable energy is rapidly evolving, influenced by changing technologies, competitive pricing, and government regulations [118]. - Demand for battery-energy storage systems has grown, but future demand is uncertain and could be affected by various factors including competition and cost volatility [120]. - The EV and battery energy storage market relies on government incentives, which if reduced or eliminated, could adversely affect demand for products [121]. Innovation and Product Development - The company must continue to innovate and develop new products to keep pace with rapid technological changes in the EV and battery energy storage markets [123]. - Delays in product development or failure to meet customer requirements could damage customer relationships and market share [126]. - Research and development expenses for ADSE were kEUR 2,012, kEUR 1,701, and kEUR 2,832 for the fiscal years ended December 31, 2021, 2022, and 2023 respectively, indicating a trend of increasing investment in product development [145]. Customer Concentration and Revenue - In 2023, one major customer accounted for approximately 9% of total revenues, down from 56% in 2021, reflecting efforts to diversify the customer base [150]. - 80% of total revenue in 2023 was generated from 6 customers, highlighting the ongoing risk associated with customer concentration [150]. Financial Position and Reporting - The company reported a loss carryforward of kEUR 128,587 as of December 31, 2023, which may be used to offset future taxes in Germany [161]. - The company anticipates significant fluctuations in financial results due to factors such as timing and volume of new sales, service costs, and demand for products [155]. - The company has identified material weaknesses in internal control over financial reporting, which could impair compliance with financial reporting requirements [164]. - The company has identified material weaknesses in its internal control over financial reporting, which could adversely affect its ability to report financial results accurately and timely [173]. - The remediation plan for these weaknesses is ongoing, but there is no assurance that future material weaknesses will be prevented [178]. - The company restated its previously issued financial statements to report all Public Shares as temporary equity, impacting its financial position [178]. - Significant costs are anticipated in building accounting and financial functions, which may disrupt operations and divert management's attention [171]. - Compliance with Section 404(a) of the Sarbanes-Oxley Act is critical; failure to comply could harm business operations and investor confidence [172]. - The company faces potential litigation or disputes due to the identified material weaknesses and restatements, which could adversely affect its financial condition [179]. - The company incurs significant legal and accounting expenses due to U.S. reporting requirements, which may impact future operating results [189]. Governance and Shareholder Rights - Environmental, social, and governance requirements are increasing, potentially leading to additional operational costs and reputational damage [186]. - The trading price of the company's Ordinary Shares and Warrants may be volatile, influenced by various external factors beyond its control [191]. - Certain shareholders have registration rights that could lead to significant sales of Ordinary Shares, potentially reducing market prices [194]. - Two shareholders own approximately 56.2% of the outstanding Ordinary Shares, allowing them to significantly influence the board and management decisions [197]. - The Company has outstanding warrants to purchase up to 16,218,433 Ordinary Shares and options for 77,100 Ordinary Shares as of April 26, 2024 [201]. - The issuance of additional Ordinary Shares or equity securities could dilute existing shareholders' ownership and potentially depress the market price of the Ordinary Shares [201]. - The Company may redeem Public Warrants at a price of $0.01 per warrant if the Ordinary Shares have been trading at or above $18.00 for 20 out of 30 trading days [212]. - Recent trading prices for the Ordinary Shares have not met the $18.00 threshold for Public Warrants to become redeemable [213]. - The Company may lose its foreign private issuer status, resulting in higher regulatory and compliance costs under U.S. securities laws [206]. - Investors may face difficulties in protecting their interests due to the Company's formation under Irish law and the location of its assets outside the U.S. [215]. - The rights of shareholders and fiduciary responsibilities of directors are governed by Irish law, which may not be as clearly established as in the U.S. [216]. - The Amended and Restated Warrant Agreement provides that disputes are governed by New York law, which may limit the ability of warrant holders to pursue claims in other jurisdictions [218]. Currency and Market Risks - As of December 31, 2023, the company has a currency exposure of kEUR 9,806 in USD bank balances, down from kEUR 10,087 in 2022, with 95% of revenues generated in EUR [599]. - The company has no significant exposure to interest rate risk as shareholder loans have a remaining term of less than six months and interest rates are fixed [598]. - Equity risks related to warrant liabilities amount to EUR 21.6 million as of December 31, 2023, which could impact future share-based payments [600]. - The company does not intend to pay dividends on Ordinary Shares in the foreseeable future, and if dividends were declared, a withholding tax of 25% may apply [223]. - The company's M&A includes provisions that may delay or prevent a change of control, including a classified board of directors and restrictions on shareholder actions [228]. - The company is subject to the Irish Takeover Rules, which ensure fair treatment in takeover situations and require offers for shares if an acquirer reaches 30% voting rights [237][238]. - The company has entered into arrangements with DTC to indemnify against any Irish stamp duty assessed, allowing for efficient trading of Ordinary Shares and Warrants [221]. - The company’s M&A excludes pre-emptive rights until December 22, 2026, which may limit shareholder flexibility regarding new share issuances [236]. - The company has no significant exposure to other market risks beyond currency and equity risks [601]. - The company’s financial instruments are primarily affected by market risks related to foreign exchange rates, interest rates, and equity prices [597].

Financial Data and Key Metrics Changes - The company achieved EUR 107.4 million in revenues for the full year 2023, meeting its target of over EUR 100 million [6][56]. - The adjusted EBITDA for Q4 2023 was positive at EUR 4.6 million, marking the first positive result on a pro forma EBITDA basis since the deSPAC and IPO [56][57]. - The company targets revenue of EUR 200 million for 2024, effectively doubling its revenue from the previous year [7][56]. Business Line Data and Key Metrics Changes - The company installed over 1,500 battery-buffered charging points and has shipped a total of more than 2,500 charging points [8][57]. - The major products sold were ChargeBox and ChargePost, which have shown high performance and exceeded customer expectations [57]. Market Data and Key Metrics Changes - The company noted a significant growth in EV adoption, particularly in the Nordics, where the adoption rate exceeds 90% [15]. - The EV forecast indicates exponential growth in both the EU and the U.S., necessitating an increase in charging infrastructure [14][20]. Company Strategy and Development Direction - The company aims to focus on its core competencies, providing technology and services to future power companies rather than operating them [25][26]. - The strategy includes expanding its role in Europe and North America, targeting leadership in battery-buffered chargers [27][29]. Management Comments on Operating Environment and Future Outlook - Management acknowledged challenges such as grid expansion and geopolitical issues but remains optimistic about long-term EV efficiency and infrastructure needs [10][54]. - The company believes that the demand for charging capacity will continue to grow, driven by the increasing number of electric vehicles and the need for a resilient energy system [24][53]. Other Important Information - The company is actively expanding its presence in North America and has established new partnerships, including installations in luxury condominiums [30][31]. - Management emphasized the importance of compliance with evolving regulations and the ability to adapt to market changes [22][23]. Q&A Session Summary Question: Guidance for 2024 regarding revenue and EBITDA cadence - Management expects a stronger second half of 2024, indicating a back-end loaded fiscal year in terms of revenue [62]. Question: Early feedback on ChargePost demand and supply chain challenges - The company is currently developing ChargePost and expects to announce it in Q1 2025, with ongoing certification processes [64]. Question: EBITDA expectations for the year - It is suggested that the company may experience negative EBITDA in the first half of the year, with positive results anticipated in the second half [65].

Financial Performance - FY 2023 revenue totaled approximately EUR 107.4 million, a significant increase from approximately EUR 26.4 million in FY 2022, representing a growth of 305%[4] - Fourth quarter 2023 revenue reached a record of approximately EUR 50.3 million, with Adjusted EBITDA of approximately EUR 4.6 million, marking the company's first profitable quarter[4] - FY 2023 Adjusted EBITDA improved to approximately EUR -16.3 million from approximately EUR -29.4 million in FY 2022, indicating a reduction in losses[4] - The company ended FY 2023 with approximately EUR 29.2 million in cash and cash equivalents, providing a solid financial foundation[4] - The company is reiterating its 2024 revenue guidance of at least EUR 200 million, with expectations of being Adjusted EBITDA positive in FY 2024[4][7] Operational Growth - Over 1,500 battery-based DCFC charging points were installed, with more than 2,500 shipped and delivered, demonstrating strong operational growth[4] - The company anticipates the majority of revenues in 2024 to be recognized in the second half of the year based on current order backlog[7] Strategic Partnerships and Market Expansion - Strong partnerships have been formed with companies such as Caverion and Ford dealerships, enhancing market presence and growth potential[7] - The company is experiencing strong momentum in onboarding new blue-chip clients, leading to an increase in recurring service revenue as a percentage of sales[4] - The launch of ChargePost is expected in early 2025, which is anticipated to provide a significant boost to growth in the US market[7]

Core Viewpoint - ADS-TEC Energy plc has appointed Dr. Andreas Fabritius to its Board of Directors, enhancing the company's governance and strategic direction in the fast-growing battery-buffered ultra-fast charging technology market [1][2]. Company Overview - ADS-TEC Energy plc is a public limited company incorporated in Ireland and listed on NASDAQ, serving as a holding company for its operating entities in Germany and the US [3]. - The company specializes in developing and manufacturing battery storage solutions and fast charging systems, leveraging over ten years of experience with lithium-ion technologies [3]. - ADS-TEC Energy's technology allows electric vehicles to charge rapidly even on low-powered grids, featuring a compact design [3]. - The company has received recognition, including a nomination for the German Future Prize and being elevated to the "Circle of Excellence" in 2022 [3]. Board Appointment - Dr. Andreas Fabritius brings three decades of experience as a Partner at Freshfields Bruckhaus Deringer, specializing in public and private M&A and corporate law [1][2]. - His appointment is expected to strengthen the Board's capabilities in navigating the high-growth market and enhancing shareholder value [2]. - Dr. Fabritius expressed enthusiasm about contributing to the company's mission of advancing electrified commuting and transport through its innovative technology [2].

MIAMI--(BUSINESS WIRE)--On March 19, ADS-TEC Energy plc (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, will unveil a significant sustainability milestone with the first Miami deployment of its ultra-fast electric vehicle (EV) charging solution, ChargeBox, at the Marina Palms Yacht Club and Residences on the waterfront in North Miami Beach. The event will bring together leaders of the Miami community including prominent members of the real estate, construction, engineer ...

NÜRTINGEN, Germany--(BUSINESS WIRE)--Rapid charging stations from ADS-TEC Energy (NASDAQ: ADSE) will soon be more widely available in the Dutch provinces of Noord-Holland, Utrecht and Flevoland as NXT 50five wins a tender from the Metropolitan Region of Amsterdam – Electric (MRA-E). This is the first time that municipalities in the Netherlands have come together to launch a joint tender for rapid charging stations. More than three-quarters of the 74 communities in the northwest region are involved in thi ...

NÜRTINGEN, Germany--(BUSINESS WIRE)--ADS-TEC Energy (NASDAQ: ADSE) and the Caverion Group sign a historic partnership agreement for Norway, serving as the starting point for the Nordic countries. Together, they are driving forward the expansion of fast-charging electric mobility infrastructure in these countries. Caverion, an internationally active maintenance company, will be the system integrator, taking over the commissioning and maintenance of the company’s fast-charging products with immediate effect. ...

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has ADS-TEC Energy PLC (ADSE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.ADS-TEC Energy PLC is a member of the Business Services sector. This group includes 313 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the aver ...

NÜRTINGEN, Germany & OSLO, Norway--(BUSINESS WIRE)--ADS-TEC Energy (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, today announced the signing of a definitive agreement for a private investment by Svelland Capital, a distinguished and highly-ranked investment company in the energy sector. The private placement is expected to close on December 28, 2023, subject to customary closing conditions. “Svelland Capital has extensive experience, and we are proud that another ex ...

Financial Data and Key Metrics Changes - Full-year revenue for 2022 was €26.4 million, down €6.6 million from €33 million in 2021, primarily due to lower sales in the U.S. and supply chain pressures [23][24][25] - Gross profit for 2022 was negative €4.5 million, a decline from negative €2.3 million in 2021, attributed to higher supply chain costs and lower output [25] - Operating result for 2022 was negative €36.4 million, compared to negative €18.6 million in 2021 [27] - Cash balance decreased to €34.4 million from €101.8 million at the end of 2021, driven by higher working capital and operating losses [28] - For 2023, the company expects revenues to exceed €100 million, supported by a strong order book of €90 million [29] Business Line Data and Key Metrics Changes - Charging products, including ChargeBox and ChargePost, accounted for 74% of total revenue in 2022, while commercial and industrial products made up 26% [24] - The ChargePost was launched in 2022 and has been well received, contributing to the product portfolio alongside ChargeBox [15][19] Market Data and Key Metrics Changes - In 2022, 74% of revenue came from Germany, with 26% from other European countries and the U.S. [24] - The company anticipates that in 2023, U.S. revenue will account for 10% to 15% of total revenue, reflecting the slower growth in the U.S. market compared to Europe [68][69] Company Strategy and Development Direction - The company focuses on providing platforms that include hardware, software, and long-term services rather than just being a component supplier [6][9] - Strategic partnerships with blue-chip companies and infrastructure investors are emphasized to scale business operations [15][37] - The company aims to expand into various segments, including electric boating and rental car services, to diversify its offerings [58] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from supply chain issues and geopolitical factors but expressed confidence in overcoming these obstacles [2][20] - The outlook for 2024 and beyond is positive, driven by strong customer dynamics and market trends towards electrification and CO2 reduction initiatives [30] Other Important Information - The company entered into an unsecured shareholder loan totaling $12.9 million to strengthen its balance sheet [30] - The company is not planning to raise equity in the foreseeable future [30] Q&A Session Summary Question: What is the outlook for 2023 regarding revenue expectations? - Management indicated that the €100 million revenue target for 2023 is conservative, considering issues faced in 2022 [61][63] Question: Can you provide approximate revenue for the March quarter? - Management refrained from sharing quarterly information, focusing instead on half-year numbers [64][65] Question: What is the anticipated geographic revenue mix for 2023? - The expectation is that U.S. revenue will be between 10% and 15%, with the remainder coming from Germany and other European countries [68][69] Question: Can you provide an update on the residential energy product? - No specific updates were provided during the call regarding the residential energy product [71]