The Peck — iSun — Investor Presentation (March 2021)
16 slides from The Peck's investor presentation, Mar 26, 2021
Slide 1: Renewable Energy as a Service
Renewable Energy as a Service
Slide 2: Legal Disclaimer
Legal Disclaimer * This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about (i) iSun’s plans, objectives, expectations and intentions and other
Slide 3: builds owns and operates renewable energy assetsenables easy adoption of renewable energy solutions serves
builds owns and operates renewable energy assetsenables easy adoption of renewable energy solutions serves multiple fast growing renewable energy marketsinvests in accretive renewable energy opportunities believes renewable energy powers our future provides solar energy and clean mobility infrastruc
Slide 4: Leading Player In Clean Energy Infrastructure
Leading Player In Clean Energy Infrastructure 1972Family owned and operated residential electric contractor 1979Transitioned from residential to commercial and industrial 1984Added data and communication services 1999Jeff Peck purchases the business 2009Adds solar installation services with 30KW sol
Slide 5: Investment Highlights
Investment Highlights A fully integrated solar energy and clean mobility infrastructure company with 50 years of history 2 Participates in large and rapidly growing renewable energy markets Executing its three-pronged growth strategy; organic expansion, M&A and strategic investments, solar energy as
Slide 6: Investment Highlights and Strategy
Investment Highlights and Strategy
Slide 7: A Fully Integrated Renewable Energy Company
EPCSolarElectricData + Telecom Renewable Energy as a ServiceSolar + Storage Smart Cities Microgrids DREV Charging/mobility/fleets Financing Company-Owned AssetsRecurring revenue Off-balance sheet 7 A Fully Integrated Renewable Energy Company Designs and engineers the site and renewable energy system
Slide 8: Business Model Drives Recurring Revenue
Business Model Drives Recurring Revenue EPC Business UnitsConstructs renewable energy infrastructure Solar Electrical Data Service / OwnOwn and operate renewable energy as a serviceRenewable Energy as aService E- Mobility as a Service Asset Ownership *
Slide 9: Solar Project Partnership and Green Bond Platform
Solar Project Partnership Solar Project Partnership (“SPP”) Green Bond Platform GreenBonds GreenBonds Green Bonds Refinance to own or sell asset (COD) Construct(Value ↑) Buy / Develop to NTP Green Bonds provide capital to acquire a Solar Project LLC at notice to proceed (NTP) * iSun constructs to co
Slide 10: Participates In Large and Rapidly Growing Markets
Solar PV Capacity Additions(2)By Application in GW, 2017-2022140 iSun Backlog ($ millions)4Q20 Backlog up +100% y/y Sources: Solar Energy Industries Association, BloombergNEF, Wall Street ResearchSource: IEASource: Wood Mackenzie 10 Participates In Large and Rapidly Growing Markets $22 $16 $30 $23 $
Slide 11: Executing on Three-Pronged Growth Strategy
Executing on Three-Pronged Growth Strategy Strategic Growth Area Recent Highlights Organic M&A and Strategic Investments Solar Energy Asset Ownership Continue to pursue EPC opportunities in the Northeast in new States Acquisitions of traditional solar EPC companies; investment in companies that prov
Slide 12: 4Q20 & Full-Year 2020 Financial Performance
4Q20 & Full-Year 2020 Financial Performance $6.3 $9.3 $28.2 $21.1 2.2% 19.1% 14.8% 11.1% 0% 5% 10% 15% 20% 25% $10$5$0 $30$25$20$15 4Q19 2020 4Q20Revenue 2019Gross Margin Revenue and Gross MarginReturn to more normal performance in 4Q20 $0.1 $2.1 $2.1 $0.4 4Q20 2019 2020 $0.0 $0.5 $1.0 $1.5 $2.0 $2.
Slide 13: Significantly Improved Balance Sheet
Total Cashmillions Significantly Improved Balance Sheet Total Debtmillions $5.6 $7.9 $8.9 $8.5 $4.5 4Q19 1Q20 2Q20 3Q20 4Q20 Balance Sheet Drivers Strong 4Q20 Free Cash Flow of $2.9 million, driven by working capital improvements and improved operational resultsReduced debt to $4.5 million at year-e
Slide 14: Management Team Focused On Growth
Management Team Focused On Growth Executive Experience Jeffrey PeckChairman andChief Executive Officer John SullivanChief Financial Officer Sass Peress Chief Innovation and Experience Officer Frederick (Kip) Myric Executive Vice President and Chief Operating Officer Michael d’AmatoChief Strategy Off
Slide 15: Appendix
Appendix
Slide 16: Non-GAAP Financial Reconciliations
Non-GAAP Financial Reconciliations Three Months Ended Twelve Months Ended December 31, December 31, 2020 2019 2020 2019 Earned revenue $9,331,279 $6,343,399 $21,052,211 $28,221,569 Cost of earned revenue 7,546,635 6,203,516 18,709,074 24,050,197 Gross profit $1,784,644 $139,883 $2,343,137 $4,171,372