March 4, 2026 Fourth Quarter and Full Year 2025 Results Cautionary Statement Regarding Forward-Looking Statements This presentation, as well as other statements we make, contains "forward-looking statements" within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as "expect," "may," "can," "believe," "predict," "plan," "potential," "projected," "projections," "forecast," "estimate," "intend," "anticipate," "ambit ...

Financial Performance - Revenue for Q3 2025 reached $38 million, a 31% increase year-over-year (YoY)[6] - Operating cash flow was $11 million, a $21 million increase YoY[6] - Adjusted EBITDA was $2 million, a $6 million increase YoY[6] - GAAP gross margin was 35%, a 14 percentage point increase YoY, while non-GAAP gross margin was 47%, a 1 percentage point increase YoY[6] - Cash operating expenses decreased by 47% YoY[11] Operating Metrics - Annual Recurring Revenue (ARR) reached $60 million, a 3% increase quarter-over-quarter (QoQ) and a 17% increase YoY[6] - Storage Assets Under Management (AUM) increased by 6% QoQ, while Solar AUM increased by 4% QoQ[6] - Bookings decreased sequentially due to a strategic de-emphasis on low-margin battery hardware[20] Guidance Update - Total revenue guidance for 2025 is updated to $135 million - $160 million[22] - Software, edge hardware, & services revenue guidance for 2025 is updated to $125 million - $140 million[22] - Non-GAAP gross margin % guidance for 2025 is updated to 40% - 50%[22] - Adjusted EBITDA guidance for 2025 is updated to ($5) million - $5 million[22]