Financial Data and Key Metrics Changes - Revenue for the third quarter reached $106 million, exceeding guidance and marking a return to growth, up 7% sequentially and 6% year-on-year [5][14] - Non-GAAP gross margin remained at a record high of 33%, flat sequentially and up seven percentage points year-on-year [15] - Non-GAAP adjusted EBITDA loss was $19 million, an improvement from a loss of $22 million in the prior quarter and a loss of $29 million in the same quarter last year [16] Business Line Data and Key Metrics Changes - Network charging systems revenue was $56 million, accounting for 53% of total revenue, up 12% sequentially and 7% year-on-year [15] - Subscription revenue reached $42 million, representing 40% of total revenue, up 5% sequentially and 15% year-on-year [15] - Other revenue was $7 million, making up 7% of total revenue [15] Market Data and Key Metrics Changes - North America accounted for 85% of revenue, while Europe contributed 15%, consistent with recent quarters [15] - Demand in Europe is accelerating, with significant opportunities emerging across key markets [7][8] Company Strategy and Development Direction - The company is focused on a three-year strategic plan built on four pillars: efficient hardware innovation, software innovation, world-class driver experiences, and operational excellence [9][10] - The partnership with Eaton is expected to drive innovation and expand market presence, particularly in Europe [8][45] - The company aims to leverage favorable regulatory support and infrastructure investments in Europe to drive growth [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued revenue growth, particularly in the second half of calendar 2026, driven by new products and partnerships [5][19] - The competitive landscape is consolidating, creating opportunities for the company to expand its market presence [8] - Management remains cautious about the broader macroeconomic environment but is optimistic about executing strategic priorities [19] Other Important Information - The company completed a debt exchange transaction, reducing total debt by $172 million and extending maturity to 2030 [18] - Cash usage for the quarter was $14 million, down from $24 million in the same quarter last year, with a cash balance of $181 million at the end of the quarter [16][17] Q&A Session Summary Question: Can you talk about demand from virtual power plants and products emerging outside of NEVI? - Management highlighted the new Flex product line that is V2G and V2H-enabled, which is expected to roll out in 2026, and a new DC fast charging product that integrates directly with a DC grid [22][23] Question: What are the expectations for inventory reduction? - Management anticipates a small decline in inventory in Q4, with a more significant decrease expected throughout the next fiscal year as existing inventory is sold [25][26] Question: Will new products drive gross margins higher? - Improvements in hardware margin will depend on product mix, with expectations for margin improvement in the latter half of next year as new products are released [30][31] Question: Can you provide insights on the NEVI funding and its impact? - Management confirmed that 40 states are active in NEVI and awarding contracts, with projects moving forward as financing uncertainty has decreased [49][50]

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on August 16, 2024. Registration No. 333-276802 XCHG Limited UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Exact name of Registrant as specified in its charter) Not Applicable AMENDMENT NO. 3 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (Translation of Registrant's name into English) (Primary Standard Industrial Classification Code Number) XCharge Europe GmbH, Heselstücken 18, 22453 Hambu ...