3Q 2022 RESULTS SUPPLEMENTAL SLIDES NOVEMBER 10, 2022
SAFE HARBOR STATEMENT
This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding: (a) our expectations regarding pricing trends, demand and growth projections; (b) potential disruptions to our operations and supply chain that may result from epidemics, natural disasters or military conflicts, including the duration, scope and impact on the demand for our products, market disruptions from the war in Ukraine, and the pace of recovery from the COVID-19 pandemic; (c) anticipated product launch timing and our expectations regarding ramp, customer acceptance and demand, upsell and expansion opportunities; (d) our expectations and plans for short- and long-term strategy, including our anticipated areas of focus and investment, market expansion, product and technology focus, and projected growth and profitability; (e) our ability to meet short term and long term material cash requirements including our obligations under the polysilicon supply agreement, our ability to complete an equity or debt offering or financing at favorable terms, if at all, and our overall liquidity, substantial indebtedness and ability to obtain additional financing; (f) our technology outlook, including anticipated fab utilization and expected ramp and production timelines for the Company's Maxeon 5 and 6, next-generation Maxeon 7 and Performance line solar panels, expected cost reduction, and future performance; (g) our strategic goals and plans, including partnership discussions with respect to the Company's next generation technology, and our relationships with existing customers, suppliers and partners, and our ability to achieve and maintain them; (h) expectations regarding our future performance and revenues resulting from contracted orders, bookings, backlog, and pipelines in our sales channels; (i) our fourth quarter fiscal year 2022 guidance, including shipments, revenue, gross profit (loss), non-GAAP gross profit (loss), operating expenses, non-GAAP operating expenses, Adjusted EBITDA, capital expenditures, out-of-market polysilicon cost, and related assumptions; and (j) our projected effective tax rate and changes to the valuation allowance related to our deferred tax assets. The forward-looking statements can be also identified by terminology such as "may," "might," "could," "will," "should," "continues," "potential," "predicts," "projects," "outlook," "aims," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission ("SEC") from time to time, including our most recent report on Form 20-F, particularly under the heading "Risk Factors", and our report on Form 6-K furnished with the SEC on May 26, 2022 and August 18, 2022. All forward-looking statements are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.
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THIRD QUARTER HIGHLIGHTS
- Significant positive margin-contribution from DG
- US Utility-Scale capacity successfully ramped to over 1 gigawatt
- US Manufacturing initiative approaching key site selection and financing milestones
From Upper Left clockwise: SunPower Reserve and Drive;
Residential installation in France; Performance Line US install
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PROGRESS IN TARGETED MARKETS
Distributed Generation
Sales Channels
- Sixth consecutive record sales and volume quarter in EU
- First Booking with Greentech Renewables secured
Beyond the Panel
- Mix of AC modules >60% in France and Netherlands
- First EV charging product announced
Maxeon 7
- Evaluating incremental capacity build
- Site Design and Engineering underway
US Utility-Scale
Sales Channels
- Output allocated through 2025
- New supply contract negotiations ongoing for deliveries into 2028
Capacity Ramp
- Over 1 GW of PERC cell fab capacity ramped
- On schedule for full ramp in 2023
US Expansion
- US Manufacturing initiative approaching key site selection and financing milestones
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3Q22 TOTAL REVENUE BY END MARKET VS PRIOR QUARTERS
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Maxeon Solar Technologies Ltd. published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2022 21:21:27 UTC.