Profire Energy, Inc. (NASDAQ:PFIE) Q2 2021 Earnings Conference Call August 5, 2021 1:00 PM ET Company Participants Ryan Oviatt - Co-Chief Executive Officer & Chief Financial Officer Cameron Tidball - Co-Chief Executive Officer Conference Call Participants Rob Brown - Lake Street Capital Markets John White - ROTH Capital James Jang - Univest Securities Jim McIlree - Dawson James Samir Patel - Askeladden Capital John Bair - Ascend Wealth Advisors Operator Good afternoon, everyone, and thank you for participat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ________ to _________ Commission File Number 001-36378 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of t ...

Profire Energy, Inc. (NASDAQ:PFIE) Q1 2021 Earnings Conference Call May 6, 2021 1:00 PM ET Company Participants Cameron Tidball – Co-Chief Executive Officer Ryan Oviatt – Co-Chief Executive Officer and Chief Financial Officer Conference Call Participants John White – ROTH Capital Rob Brown – Lake Street Capital Markets Jim McIlree – Dawson James John Bair – Ascend Wealth Advisors Operator Good afternoon, everyone, and thank you for participating in today’s conference call to discuss Profire Energy’s First Q ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q Commission File Number 001-36378 PROFIRE ENERGY, INC. (Exact name of registrant as specified in its charter) Nevada 20-0019425 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 321 South 1250 West, Suite 1 Lindon, Utah 84042 (Address of principal executive offices) (Zip Code) (801) 796-5127 (Registrant's telephone number, including area code) Indicate by check mark whether the re ...

Financial Data and Key Metrics Changes - In Q4 2020, the company recognized $5.7 million in revenue, a 41% increase over Q3 and a 30% increase over Q2, although still down from the previous year [13] - Gross profit increased to $2.8 million, with a gross margin of 48.7%, up from 38% in Q3 2020 and 42% in Q4 2019 [15] - Net income for Q4 was approximately $56,000, compared to a loss of $1.1 million in Q3 2020 and a net loss of $1.6 million in Q4 2019 [18] - For the full year 2020, revenue was $21.5 million, down from $39 million in 2019, with a net loss of approximately $2.2 million compared to a net income of $2 million in 2019 [19][22] Business Line Data and Key Metrics Changes - The company saw an increase in customer year-end spending for the first time in four years, attributed to stabilization in the political environment and positive news regarding pandemic recovery [14] - Operating expenses for Q4 were approximately $2.8 million, reflecting a significant reduction from the previous year due to cost-cutting measures [16] Market Data and Key Metrics Changes - The average rig count for North America increased to 384 in Q4 from 297 in Q3, although still significantly below the 933 average in Q4 2019 [27] - The company noted that U.S. shale production is expected to remain flat or decrease in 2021, despite rising commodity prices [28] Company Strategy and Development Direction - The company is focusing on expanding into new markets and enhancing its product offerings, including emissions monitoring and clean technologies [34][38] - Profire is exploring strategic partnerships and potential M&A opportunities to support its growth strategy [38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving demand as COVID-19 restrictions ease and vaccine distribution increases, although they cautioned that the recovery may be uneven [10][24] - The company anticipates that oil majors will maintain production levels, which may limit new drilling activity despite higher commodity prices [46] Other Important Information - The company has maintained a debt-free balance sheet, which positions it well to weather economic challenges and pursue growth opportunities [9] - Capital expenditures for the year were $1.5 million, with inventory levels sufficient to meet near-term customer orders [23] Q&A Session Summary Question: What markets are most interesting for new opportunities? - Management indicated that emissions monitoring is a key area of interest, and they are looking to partner with industry players to support product development [42] Question: How does the demand environment look moving forward? - Management noted a good Q4 performance and expects continued demand growth, driven by vaccine distribution and economic recovery, but cautioned that oil producers may not significantly increase drilling activity [44][46] Question: Can you provide insights on geographic sales distribution? - The northeast and Canada were highlighted as strong areas for sales in Q4, with service revenue driving performance [50] Question: What opportunities exist in the clean technology space? - Management expressed interest in supporting projects related to hydrogen production and alternative fuels, indicating a potential new sales channel [53][55] Question: How will cost cuts impact future profitability? - Management acknowledged that while some cost reductions were temporary, they will need to reinvest in the business to support customer demand as revenues increase [60][61] Question: How are customers responding to the change in administration? - Customers are preparing for potential regulatory changes and are looking for ways to remain profitable under new restrictions [76][80]

U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended __December 31, 2020___ OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period Commission File Number 001-36378 PROFIRE ENERGY, INC. (Name of registrant as specified in its charter) Nevada 20-0019425 (State or other jurisdiction of incorporation or organization) ...

Financial Data and Key Metrics Changes - In Q3 2020, the company recognized $4 million in revenue, down from $4.4 million in Q2 2020 and $9.9 million in Q3 2019, reflecting the ongoing impact of COVID-19 [11] - Gross profit decreased to $1.5 million compared to $2.1 million in Q2 2020 and $5.2 million in Q3 2019 [11] - Net loss for Q3 was approximately $1.1 million, or a loss of $0.02 per share, compared to a loss of $809,000 in Q2 2020 and net income of $922,000 in Q3 2019 [14] - Cash flow from operations was negative $724,000 due to a steep decline in revenue [14] - Cash and liquid investments totaled $17.2 million, down from $18.1 million at the end of Q2 2020 [15] Business Line Data and Key Metrics Changes - General and Administrative (G&A) expenses decreased 18% sequentially and 31% year-over-year [12] - Research and Development (R&D) expenses increased 89% sequentially but decreased 32% year-over-year, primarily due to the timing of product certifications [13] - Total operating expenses for Q3 were approximately $2.8 million, reflecting a $300,000 reduction sequentially and a $1.2 million reduction from Q3 2019 [12] Market Data and Key Metrics Changes - The average oil price in Q3 2020 was approximately $41 per barrel, down 27% compared to Q3 2019 [6] - The weekly average rig count for North America decreased to 287, compared to 878 at the end of 2019 and 1,024 in Q3 2019 [17] Company Strategy and Development Direction - The company is focusing on maintaining and growing its market share in burner management systems (BMS) while exploring strategic partnerships to expand capabilities [20][21] - The company is researching opportunities in emissions monitoring and reduction, as well as optimization through machine learning and artificial intelligence [20] - The current market environment may create strategic acquisition opportunities for the company, given its strong balance sheet [22] Management's Comments on Operating Environment and Future Outlook - The ongoing uncertainty from the COVID-19 pandemic and economic conditions is expected to constrain demand recovery in hydrocarbons [6] - Management believes that the successful rollout of a vaccine could positively impact demand and restore confidence in the market [26][27] - The company remains committed to its sales strategy and has not made detrimental adjustments despite reduced revenue [22] Other Important Information - The company has successfully installed its PF2200 products in multiple markets through Latin American distribution partners, adding over 100 new customers year-to-date [19] - The company is exploring partnerships in industries outside of oil and gas, such as aviation and power generation, to diversify its revenue streams [21] Q&A Session Summary Question: Visibility on demand environment and year-end budget flush - Management noted that demand recovery is still hindered by COVID-19, with a slight uptick in drilling activity observed but overall demand remains weak [26] Question: Update on Midflow and Millstream acquisitions - The Millstream acquisition has been well-received, with higher sales percentages than ever before, while the Midflow acquisition has expanded the company's service footprint in the Northeast [28] Question: Positioning relative to industry consolidation - Management stated that they are well-positioned with larger companies and are carefully monitoring credit extensions to customers [35] Question: R&D spending and new product development - Management indicated that while R&D expenses may fluctuate, they are not looking to significantly increase overall R&D spending but will manage costs effectively [39] Question: Progress on international sales and potential for breaking out results - Management expressed hope that international sales would grow large enough to warrant separate reporting in the future, with positive progress noted in Latin America [61] Question: Transitioning to a recurring revenue model - Management acknowledged the importance of exploring a recurring revenue model and is considering how to pivot their legacy business to lessen revenue volatility [64]

PROFIRE LEADER IN OILFIELD MANAGEMENT TECHNOLOGIES PF3100 NASDAQ:PFIE November 2020 IMPORTANT CAUTIONS REGARDING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. All statements other than historical facts are forward-looking statements, including without limitation, those regarding activities, events, financial results or developments that we intend, plan, expect, believe, project, forecast or anticipate wil ...

PROFIRE LEADER IN OILFIELD MANAGEMENT TECHNOLOGIES PF3100 NASDAQ:PFIE September 2020 IMPORTANT CAUTIONS REGARDING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. All statements other than historical facts are forward-looking statements, including without limitation, those regarding activities, events, financial results or developments that we intend, plan, expect, believe, project, forecast or anticipate wi ...

Profire Energy, Inc. (NASDAQ:PFIE) Q2 2020 Earnings Conference Call August 6, 2020 1:00 PM ET Company Participants Brenton Hatch - Executive Chairman Ryan Oviatt - Co-CEO, Co-President, CFO & Director Cameron Tidball - Co-CEO & Co-President Conference Call Participants Robert Brown - Lake Street Capital Markets John White - ROTH Capital Partners Samir Patel - Askeladden Capital Management John Bair - Ascend Wealth Management Operator Good afternoon, everyone, and thank you for participating in today's confe ...