Collaboration Overview - AmpUp, a leading EV charging solutions provider, collaborates with Tritium to modernize and enhance DC fast-charging infrastructure across North America [1] - The program simplifies the process for existing Tritium RT50 owners to join the AmpUp charging network and gain access to various upgrade options [1] Program Phases - **Phase One**: Focuses on integrating existing Tritium stations into the AmpUp network, designed to be hassle-free for site hosts and owners [2] - **Phase Two**: Offers an upgrade opportunity for existing RT50 owners to trade in their RT50 for a new 50kW DC fast charger with enhanced capabilities [2] Enhanced Charging Capabilities - **Dual Charging**: Allows powering two EVs simultaneously, doubling charging capacity [5] - **Universal Compatibility**: CCS and NACS cords enable charging virtually any EV on the market [5] - **Robust Warranty**: Includes a 3-year parts warranty [5] - **Scalable Power**: Upgradeable to 75kW for future-proofed performance [5] - **Sustainable Practices**: Ensures responsible recycling of the RT50, minimizing environmental impact [5] - **Simple Installation**: The new RTM charger seamlessly fits on the existing RT50 pad, minimizing disruption [5] Company Statements - AmpUp's CEO, Tom Sun, emphasizes the company's commitment to simplifying the EV charging experience and empowering Tritium owners to unlock the full potential of their charging infrastructure [3] - Tritium's VP of global marketing and communications, Dimitrios Papadogonas, highlights the importance of collaboration with AmpUp to advance the EV charging ecosystem and ensure reliable service for EV drivers [3] Additional Resources - Full details of the Tritium Revamp program are available at https://tritiumcharging.com/tritium-revamp/ [4] - AmpUp has powered over 1,500 charging networks across 75 North American markets since its founding in 2018 [4] - Tritium, founded in 2001, designs and manufactures advanced and reliable DC fast chargers for electric vehicles, focusing on continuous innovation [5][6] Network Integration Process - Owners need to provide their Tritium charger's serial number and written approval for transfer, with AmpUp assisting in locating the serial number [5] - AmpUp handles the station transfer to the network free of charge [5] - Owners receive selection options for their preferred cloud service [5] - A minor cost may apply for labor associated with replacing the Tritium SIM card with an AmpUp-compatible one, if necessary [5]

BRISBANE, Australia, April 11, 2024 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (NASDAQ:DCFC) ("Tritium" or the "Company"), a global developer and manufacturer of direct current ("DC") fast chargers for electric vehicles ("EVs"), today announced that on April 5, 2024 the Company received a notice from the Nasdaq Stock Market LLC ("Nasdaq") that the Company does not currently meet the minimum 1,100,000 publicly held shares required for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5450(b)(1)(B) (t ...

BRISBANE, Australia, March 21, 2024 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (NASDAQ:DCFC) ("Tritium" or the "Company"), a global developer and manufacturer of direct current ("DC") fast chargers for electric vehicles ("EVs"), today announced that on March 15, 2024 the Company received a delisting determination notice (the "Delisting Notice") from the Nasdaq Stock Market LLC ("Nasdaq"). As previously reported, on October 12, 2023 the Company received an initial notice ("the Deficiency Notice") from Nasdaq i ...

LEBANON, Tenn., Feb. 05, 2024 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (Tritium) (NASDAQ:DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), today announced that the company was the top-awarded fast charger manufacturer for the first round of the State of Tennessee's National Electric Vehicle Infrastructure (NEVI) Formula Program. The Tennessee Department of Transportation (TDOT) and the Tennessee Department of Environment and Conservation (TDEC) awarded a total of over ...

Financial Data and Key Metrics Changes - The company achieved record revenue of $185 million for fiscal year 2023, an increase of over 115% compared to the previous fiscal year revenue of $86 million [30] - Gross margin improved to 4% for the first half of 2023, a significant increase from a gross margin of negative 18% for the first half of 2022, reflecting a nearly 2,200 basis point improvement year-over-year [28][102] - Total comprehensive loss for fiscal year 2023 was $118 million, compared to $122 million in fiscal year 2022, despite revenue more than doubling year-over-year [106] Business Line Data and Key Metrics Changes - Service revenue reached record levels at $9.3 million for the fiscal year, an 86% increase from the previous year, with gross margin growing to 39% [92] - The company ended production of its first generation of fast chargers and is now focusing on two key product lines: RTM 50 and 75-kilowatt chargers and PKM 150-kilowatt chargers [25] - The company built 7,800 units for the fiscal year, compared to 3,700 units in the prior fiscal year, and set a new production record of 5,100 units for the six-month period ending June 30 [35] Market Data and Key Metrics Changes - The company has sold over 13,000 DC fast chargers across 47 countries, primarily in the U.S., Europe, and Australia and New Zealand [26] - Order backlog was approximately $99 million as of June 30, with sales orders of $146 million for the fiscal year [33][102] - The company anticipates significant growth in service level agreements and remote monitoring services due to an expanding installed base of chargers [91] Company Strategy and Development Direction - The company is focused on becoming EBITDA positive in 2024 and is committed to delivering higher gross margins [107][99] - Tritium is transitioning from a backlog-driven model to a flow-driven model, with a focus on securing purchase orders from strategic customers [2][48] - The company plans to launch the MyTritium software platform and is developing a 400-kilowatt modular and scalable charger for 2024 [77][95] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong pipeline for 2024, with several large orders expected to be secured soon [50] - The company noted challenges in the operating environment, including a tight labor market and ongoing semiconductor supply chain issues, but remains optimistic about future growth [32][39] - Management highlighted the importance of reliability and uptime in their products, which are key selection criteria for customers [67] Other Important Information - The company secured a financing commitment of up to $75 million, with an initial funding of $25 million, to support working capital needs [40] - Tritium will move to a calendar year for fiscal year reporting in 2024, with a six-month fiscal year ending December 31, 2023 [109] Q&A Session Summary Question: What will be the revenue guidance for calendar 2024 covered by backlog exiting calendar '23? - Management indicated that the percentage of revenue covered by backlog is expected to be slightly lower due to a shift in customer ordering patterns from large orders to smaller tranches [2][3] Question: Can you provide insights on the pipeline and growth drivers for 2024? - Management noted a strong pipeline with large orders from strategic customers and emphasized that growth will come from both existing and new customers [50][51] Question: What are the expected CapEx and cash outflow obligations for the second half of calendar '23 and 2024? - CapEx for fiscal year 2023 was $7.95 million, and the company expects modest CapEx requirements moving forward, with no significant cash outflows anticipated beyond normal business operations [82][84]

Revenue Growth - The company achieved record revenue of $112 million for the first half of 2023, an increase of over 286% compared to $29 million in the first half of 2022[4]. - For the fiscal year ended June 30, 2023, the company reported revenue of $185 million, representing a year-over-year growth of over 115% from $86 million in the previous fiscal year[5]. - Total revenue for the year ended June 30, 2023, was $184.544 million, a significant increase of 115% compared to $85.821 million in 2022[23]. - Hardware revenue from external parties reached $167.965 million, up 143% from $69.243 million in the previous year[23]. Gross Margin and Loss - The gross margin for the first half of 2023 was reported at 4%, a nearly 2,200 basis point improvement from -18% in the first half of 2022[10]. - The net loss for the year ended June 30, 2023, was $121.370 million, slightly improved from a net loss of $128.919 million in 2022[23]. - The company reported a comprehensive loss of $118.590 million for the year ended June 30, 2023, compared to a comprehensive loss of $121.583 million in 2022[23]. Financial Position - Total assets increased to $275.176 million as of June 30, 2023, compared to $211.998 million as of June 30, 2022, reflecting a growth of 30%[24]. - Cash and cash equivalents decreased to $29.421 million from $70.753 million in the previous year, indicating a decline of 58%[24]. - Total liabilities rose to $418.831 million as of June 30, 2023, compared to $253.904 million in 2022, marking a 65% increase[24]. Cash Flow and Operating Activities - Cash flows used in operating activities amounted to $162.430 million for the year ended June 30, 2023, compared to $86.840 million in 2022, indicating a significant increase in cash outflow[25]. - The company incurred finance costs of $27.867 million in 2023, up from $18.136 million in 2022, reflecting a 54% increase[23]. Inventory and Orders - The company has inventory assets valued at $140 million as of June 30, 2023, compared to $54 million for the same timeframe in the previous year[8]. - Inventory levels surged to $140.291 million as of June 30, 2023, compared to $54.349 million in 2022, representing a 158% increase[24]. - As of June 30, 2023, the company maintained an order backlog valued at approximately $99 million, down from $149 million at the end of the previous fiscal year[6]. - Sales orders for the six-month period ended June 30, 2023, amounted to $56 million, compared to $105 million for the same period in the prior year[7]. - The company expects strong order growth in the second half of 2023, supported by recent large purchase orders from leading industry players[7]. Financing and Future Plans - The company secured a financing commitment of up to $75 million in September 2023, with an initial funding of $25 million[4]. - Tritium plans to provide NACS connectors on its chargers by late 2023 or early 2024 to meet new state requirements for NEVI-funded projects[16]. - The company announced a change in its fiscal year end from June 30 to December 31, starting in 2024[17].

Revenue Recognition - For the fiscal year ended June 30, 2023, the percentage of total revenue recognized under bill-and-hold arrangements was 23%, up from 16% in 2022 and 4% in 2021[466]. - Revenue from the sale of EV chargers is recognized at a point in time when control of the goods is transferred to the customer[460]. - Revenue related to rendering of services is recognized when the service has been provided, with a material portion recognized upon delivery of the service[462]. Warranty Provisions - The company provides standard warranty rights for general repairs for either two or three years on all EV chargers sold, with estimated warranty costs recognized as a liability upon transfer of control[461]. - The company recognizes a warranty provision based on the present value of future cash flows estimated to settle warranty obligations, with no material provision for impairment recognized as of June 30, 2022, and 2021[481][485]. - The warranty provision is based on the estimated costs of warranty repairs, with a sensitivity of +/-10% in the number of months of warranty remaining affecting the provision by $1.22 million[518]. Employee Incentives - The company launched the Employee Share Purchase Plan (ESPP) on April 1, 2023, allowing employees to purchase shares at a 15% discount, aimed at enhancing employee retention[494]. - The company has not granted any awards under the Long-Term Incentive Plan (LTIP) or the Shadow Equity Plan (SEP) for the year ended June 30, 2023[523]. Financial Liabilities and Costs - Costs to obtain a contract, primarily commissions, are expensed as incurred, reflecting the short-term nature of these costs[468]. - Lease liabilities are measured at the present value of unpaid lease payments, with current liabilities recognized for amounts due within twelve months[473]. - Finance costs, including interest on borrowings, are recognized as expenses in the period incurred[479]. Accounting Estimates and Changes - The company assesses critical accounting estimates that could materially impact financial results, including revenue recognition and warranty provisions[457][458]. - The estimated useful life of property, plant, and equipment is subject to change, with a +/-2 year change in useful life affecting depreciation expense by $0.3 million[528]. - The company expects to adopt ASU 2020-06 for fiscal years beginning after December 15, 2023, which will impact the accounting for convertible instruments and diluted earnings per share computation[537]. - The company is currently assessing the impact of adopting ASU 2021-08, effective for fiscal years beginning after December 15, 2022, which requires recognition and measurement of contract assets and liabilities in business combinations[541]. - The company does not expect the adoption of ASU 2021-10 regarding government assistance disclosures to have a material impact on its consolidated financial statements[544]. Foreign Currency and Inflation - The company is exposed to foreign currency risk with functional currencies including AUD, EUR, and GBP, while its functional currency is USD[811]. - Inflation has increased product costs, but this has been offset by favorable foreign exchange rates and increased sales prices, with no material effect on the company's financial condition reported[815]. - The company does not currently hedge foreign currency exchange risk but may consider it in the future[814]. Compliance and Growth Status - The company has elected to take advantage of the extended transition period under the JOBS Act, allowing it to defer compliance with new accounting standards[549]. - The company will remain an emerging growth company until it meets certain revenue or market capitalization thresholds[553]. - The company does not have any lease arrangements with entities under common control, as per ASU 2023-01[546]. - The company does not currently have equity method investments or joint venture arrangements, as noted in ASU 2023-02[547].

Sales and Market Growth - As of December 31, 2022, Tritium has sold over 10,000 DC fast chargers across 42 countries, providing over 20,000 high-power charging sessions daily[4] - The U.S. federal government plans to fund the installation of 500,000 new EV chargers over the next decade, with a target of 50% of new cars sold being EVs by 2030[5] - Bloomberg New Energy Finance forecasts that EV sales will grow to over 40.3% of the global passenger vehicle market by 2030, up from approximately 8.7% in 2021[8] - The Group continues to solidify its position as the 2 supplier of DC fast chargers in ANZ, US, and Europe, with expectations of significant revenue growth based on strong sales backlog[177] Financial Performance - Total revenue increased by $15.7 million, or 27.5%, from $57.0 million during the six months ended December 31, 2021, to $72.6 million during the six months ended December 31, 2022[49] - Total revenue for the six months ended December 31, 2022, was $72,644,000, an increase of 27.5% compared to $56,991,000 for the same period in 2021[151] - Net loss attributable to common shareholders for the six months ended December 31, 2022, was $56,271,000, compared to a net loss of $68,138,000 in the prior year, representing a 17.5% improvement[151] - The Group incurred an operating loss after income tax of $56.3 million for the half year ended December 31, 2022, compared to a loss of $68.1 million for the same period in 2021, indicating a reduction in losses[171] Revenue and Cost Analysis - Hardware revenue from external parties increased by $24.6 million, or 59%, while related parties hardware revenue decreased by $11.0 million, or 87%[47] - Cost of goods sold increased by $26.2 million, or 49.1%, from $53.5 million to $79.7 million, primarily due to start-up expenses of ramping the Tennessee factory[54] - Total cost of goods sold for the six months was $79,689,000, up from $53,457,000, indicating a 48.9% increase[151] - Average cost of Stand Alone Chargers increased by $1,463 per unit, or 5.9%, from $24,608 to $26,071, attributed to inflation across key components and semiconductors[55] Operational Challenges - Production volumes at Tritium's Tennessee facility were approximately six weeks behind schedule as of December 31, 2022, due to global supply chain challenges[23] - The decision to use air freight for fulfilling orders outside Australia and New Zealand increased freight costs and decreased gross margin for the six months ended December 31, 2022[23] - The company intends to expand operations through new production facilities, particularly in the U.S., to increase speed to market and reduce freight costs[11] Expenses and Investments - Selling, general and administrative expenses decreased by $10.4 million, or 22%, from $46.9 million to $36.4 million[48] - Product development expenses increased by $593,000, or 9%, from $6.5 million to $7.1 million[48] - The Group's selling, general, and administration expenses decreased to $36.437 million for the six months ended December 31, 2022, from $46.851 million in the same period of 2021[186] Cash Flow and Liquidity - Operating cash outflows were $78.7 million for the six months ended December 31, 2022, compared to $24.0 million for the six months ended December 31, 2021[71] - Net cash used in operating activities increased by $54.7 million, or 228.2%, from $24.0 million to $78.7 million for the six months ended December 31, 2022, primarily due to an increase in net loss after income tax adjusted for non-cash items of $30.4 million[93] - The Group raised $180 million through three debt facilities during the current period, demonstrating strong relationships with debt lenders[177] Assets and Liabilities - Total assets increased to $298,275,000 as of December 31, 2022, up from $213,355,000 as of June 30, 2022, representing a 39.7% growth[153] - Total liabilities increased to $385,521,000, up from $253,904,000, indicating a 51.8% rise[153] - The total shareholders' deficit increased to $87,246,000 as of December 31, 2022, from $40,549,000 as of June 30, 2022[153] Inventory and Receivables - Tritium's inventory increased to $106.9 million as of December 31, 2022, compared to $55.7 million as of June 30, 2022, due to strategic decisions to increase stock levels[17] - Accounts receivable from external parties rose significantly to $59,960,000, compared to $30,816,000, marking a 94.5% increase[153] - Total trade receivables increased to $57,860,000 as of December 31, 2022, from $28,575,000 as of June 30, 2022, with an allowance for expected credit losses of $743,000[195] Future Outlook - The Group expects to turn EBITDA positive during the first half of calendar year 2024, supported by improved gross margins from investments made in 2023[177] - The Group had a sales backlog of $159 million as of the balance sheet date, which is expected to significantly increase revenue for the calendar year ended December 31, 2023[177]

Financial Data and Key Metrics Changes - For the fiscal year ended June 30, 2022, revenue was $86 million, a 53% increase over the prior fiscal year [7] - Sales orders reached $203 million, an increase of 232% over the prior fiscal year, with a record order backlog of $149 million [8][39] - Gross margin for fiscal year 2022 was negative 0.4%, which was a 300 basis point improvement year on year [40] Business Line Data and Key Metrics Changes - The company launched the 150 kilowatt PKM fast charger, contributing to record sales and a diversified product line [9][12] - The new factory in Tennessee is expected to significantly increase annual manufacturing capacity, ramping up to 28,000 units per year by the end of 2023 [29][30] Market Data and Key Metrics Changes - Europe remained the largest region for revenue, but the investment in Tennessee anticipates substantial increases in market demand for North America [30] - Demand for fast electric vehicle chargers is outstripping supply, leading to a significant backlog and increased pricing power [65][68] Company Strategy and Development Direction - The company is focused on operational excellence and scaling production to meet demand, while also positioning itself to take advantage of favorable legislation in the US and globally [10][24] - Tritium aims to reduce backlog to three to four months by the end of 2023, with a gradual burn down of backlog driven by securing semiconductor parts [95] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the near-term prospects for 2023, despite a six-week delay in production due to supply chain issues [56][58] - The company expects to see improved margins through factory efficiencies and reduced freight costs as production shifts to Tennessee [43][82] Other Important Information - The Tennessee factory was completed within the planned budget of $8 million and is expected to enhance margins by reducing freight costs [25][21] - The company has secured significant purchase orders from various customers across multiple regions, indicating strong demand for its products [17][16] Q&A Session Summary Question: How to think about 2023 revenue considering the $45 million delay? - Management is optimistic about 2023, forecasting that the delayed revenue will be fulfilled without loss, and production capacity is expected to grow throughout the year [56][58] Question: What is the plan for ramping up production in Tennessee? - The ramp involves additional spending and mitigations for potential shortages in end-of-line test equipment, with a focus on maintaining staffing levels [60][62] Question: Where is the most compelling demand coming from? - Demand is broad-based, with significant interest from fuel companies, utilities, and established charge point operators, indicating a healthy market environment [66][68] Question: What are the targeted gross margins? - The company targets a minimum of 20% gross margin, with potential increases depending on product lines and customer agreements [75][84] Question: When will the backlog be reduced to three to four months? - The company anticipates achieving this by the end of 2023, with a gradual reduction in backlog driven by improved supply chain conditions [95]

| --- | --- | --- | --- | --- | |-------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | FISCAL YEAR 2022 EARNINGS PRESENTATION September 2022 | | | | | Disclaimer FISCAL YEAR 2022 EARNINGS PRESENTATION Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, also known as the P ...