Tritium DCFC (DCFC)

Michael Collins General Counsel and Company Secretary
Jane Hunter CEO
Michael Hipwood CFO
Steven Fox Fox Advisors
Will Jellison D.A. Davidson
Rob Wertheimer Melius
Tom Curran Seaport Global Holdings
Noel Parks Tuohy Brothers
Christopher Souther B Riley
Pavel Molchanov Raymond James
Call transcript
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Good day and thank you for standing by. Welcome to the Tritium Full Fiscal Year 2022 Earnings Call. At this time, participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator instructions] Please be advised that today's conference is being recorded. hand over to today, your like Collins. Michael now the to conference speaker I'd ahead. go Please

Michael Collins

found its earnings operator be and you, you for year Executive remarks us glad on that Q&A afternoon are session. the call could today Delivering Chief Financial Hipwood. XXXX on fiscal CFO, today's full Incoming Jane Thank Tritium's during of good release section join Officer, and Hunter to Officer, Investor call. prepared Chief press conference everyone. Rob has the available results issued our Michael can tritiumcharging.com. a be Topol will also at in Tritium website We're

with company press to our section results A Chief recording pleased of that call Jane found company the our SEC that the of today assumptions Investor of And we Officer. Factors materially call today differ mke to documents on available a will we and be on forward-looking Form website. that, Executive predicted this also no uncertainties. of from the statements on release undertake this a this report Hunter, forward-looking the which certain obligation these am cover turn Any statements, are as call future forthcoming from may and events. on information those the filed over various can on thus with I update results actual or include and and As actual be Tritium's materially to differ by as time in statements. to in assumptions could statements to risks subject other including based call are Statements be new could reminder, to cause time, XX-F. to on forward-looking result based

Jane Hunter

best results, results earnings Good Michael. thank today the for revenue Tritium's afternoon, to the Tritium in is the Michael is for all history. run through us the first calendar I'll you, fiscal year let reporting Hipwood everyone detailed select company's but you call. headline financial Thank joining that and

$XX where contracted year fiscal backlog result out million, We fiscal in an Tritium demand million, increase the was prior a market tight increase inflation XXXX, market. supply electric stripping resulted was enthusiasm XX% reports saw constraints, revenue an and record we environment purchase At fast This for great chain the a year. For on better was charges. our and a sales than labor over based and expected $XXX over ended record prior is XXX% the XX This a and supply orders. million. of cost products June, backlog $XXX June, sales for executed order fiscal of XX in of vehicle orders year.

point new executives exciting customer those to the to or to PKM line include on on opened talented improved we legislation and changer for of US as for been in has globally. weeks business a ago, our suffice pace as excellence, but for factory, global the Tritium an uptake from charger. operational on focus the an expand of to large in position many call analysts favorable take EV our ourselves potential at a on demand an to meet is in accelerated have business. our moving and among to more launching framework be product reached advantage of this say innovate we a the I'll buyers game time. XXX topics, agreements. expect that Recently, and We've to made we scale few kilowatt handful is to diversified continued these and We've the transportation. We're US. Tritium first expand electric Tennessee team very with a fast base suite, a which and just fast Asia take the disruption the added car in globally our and our officially well each customers volumes global NASDAQ So don't placed factories companies sought year revenue forecasts. it's charger Memorandums figures of the listing been of of for Understanding We've It Pacific several would a advantage added new comprehensive half understatement to say than key the product areas. vehicles Since tipping Tritium. January, be historic of has number company

from high the Energy technologically registry of prospective new and and tenders framework customer highest maintain for be total New in companies to Major Global strength charging entire is fuel Utility gas agreements products strength wide are Shell electricity aggressive rollout to we expect are strategy. differentiated global grow our to Our competitors trust with nearly and the winning oil and global stations customers and and across success sell their we and customer order Zealand on amongst cost strength our the a BP, range evidenced confirmation geographies global four beyond. of are demonstrates of by X,XXX preparing strategic now the and solutions, gas a of of in of courts of existing number their new presently charges positioning reliability. category. and remain a the with low initial consider quality UK, successfully products. the what from The BP's our of in driver's is their ownership working base. Australia now and and of customer Tritium's brand our our Tritium

US, close Thailand, in entered of partnerships Liberty We've in local UK, their valued We with state and The Tennessee Charge, benefits for from existing and Crews truck those EON Superpower, ambassador America. New opening We factory X, Australia of supply multiple factory will host electrification and opening held global thousands Tritium. multiple and across customers US see Europe, we'll Aqua Siemens, UK, which Group, the Tennessee, to to as in charges Enel have secured Iberdrola North fast increase the Osprey. from costs. orders enable we'll we and The us our to grand Blink, and and from new Australia's business Tennessee company Motor margins the honored markets. a United Shell federal Shell, charges With Charge, Fuel across progress governments, reducing will like customers, to to BP and America, orders, were dignitaries orders purchase From be Zealand, our Europe stakeholders. with the bring the well Nicola, of strategies. South and across others Charging able as freight suppliers among our our charges agreements support to many States fast to last EV month, our by Solutions, into customers continue deploy factory YZV we Okay, BP, the Canada, to the and ChargeNet, Ionity,

an ports freight and less air at of We to reduce also of from East a sea make sea to to Charleston products shift the freight use our expectation increasingly materially use Brisbane expense we'll Savannah at that from expect Coast to freight time sea reduced of with Europe. and Europe than

seven the XXX at air the days. past much extended Netherlands times. Europe sea Brisbane XX to of weeks to of US from sale from Amsterdam further to expected XX XX freight the transit pre-COVID XX% as The a at and congested ports kilowatt charger as fiscal is days six XX% to Over been has time to kilowatt charger. Australia price and from East ports year, the Time from weeks a to eight weeks price sea rose sale Coast of of

increased from In goods for Brisbane freight outbound added Tritium time, moving XX% the the and costs in the addition of year. to to and respectively. fiscal to cost substantially increased Inbound and XX%

the and lead associated will will US meet repressures Building customers times as and shortening an for our and factory backlog. Importantly, of in demand detail, in revenue, significantly suppliers annual satisfaction. Tennessee in Michael cash terms charging to manufacturing we these easing our our location The to European capacity for Tennessee new equipment and customers. supporting and to see us reduce optimal order proximity reduce increases is our market customer factory inflation improving cycle products and

for co-located end which new production through stage complexity longer expect We us to more see efficiencies, as the separate stages, line as layout also margins and such a onboard rapidly reduces more improved floor well warehouse, as well to per plate staff, allows line. facility talent factory of paying hit in the at region line third the are base tact local production its test the benefits depth as manufacturing production. already of the These of as factory in Greenfield time off base week with per record

Tritium the rollout Bipartisan enables to funding, federal charging Infrastructure advantage factory on public US fuel and of American of Our Law. via alternate government to dollars highways billions and of formula US corridors allocated take grant of

of budget The one July. million. be we're and EV site the charges We build $X be production driven of the charging Inflation XXXX. on our Xst to to locally installation possession by who expect infrastructure demand US a factory will March coming EVs within in year. building for the Reduction handful further the charges both be add over was associated will the and and compliant additional charges lines took of We we Tritium investment by costs. building of of as planned America property completed manufacturers first in Act, is There tax credits able for

X.X% fast unemployment recruitment across up Tennessee near the marginally just respectively, behind of higher weeks low incredibly earlier planned unemployment the and project state. rates delays. X.X% to X.X% recorded to and our enjoys low To all-time put July this an was of this supply Tennessee start just in ramp year. Although this and six constraints we from perspective, were set production due record August in finish, than

of than which it we in term, this the type employees result While onboarding our the of expected and long employment over in work backdrop precisely longer want communities workforce. did creates the our broader live, to

now onboarding Today, we've local report a enjoying proud very workforce and locally the welcome We're we're we targeted though around we've workers as delighted our over factory on talented. up had new that hired is week has XXX levels that are warm staff and our Tennessee of committed We community the and the ramp there. certainly a in and positive are impact very continues. XX received staffing to our

order pushes million planned expect and accelerates fulfil as any six-week revenue we of increases associated to and XXXX, those continue fulfilment into of purchase through year of auto weeks rest to we of year. not lost capacity have $XX six calendar the production this of the backlog Although our builds the to the and orders quarter calendar delay first commensurately date,

is units the by up over been By year, To a months. has factory units perspective capacity and XX,XXX year. Tritium's expected the charging XXXX calendar put to up existing year of per units per relative this X,XXX our Brisbane Tennessee our in was ramp legacy per expected production be year. end has and of of to calendar this plan, end to X,XXX XX the is next at designed capacity As and capacity the expected Tennessee footprint, to

the So scale is up enormous.

Although for will North Tennessee factory latest substantial better The our the Europe region fiscal year, on demand largest for and of charges. investment America. Europe our increases revenue only the also new ocean anticipation terms position in It Tritium of in remained the time in for build in of in availability. generation price, will freight products to is Tritium's market

utility year uses PKMXXX microgrid that and modular serviceability PKMXXX now scaling commonality operator For grid XX their planned site demand manufacturing These local which easy this increase service reliability charging with lower to modular our The uptime. and and next, RTM XXXX. over this utilization are shipping charges NEVI the in car and increase our in their drive charging products the or field to feed. to businesses. and compliant modes sites increased XX We're Through capital product our be kilowatt DC kilowatt architecture for and later be parts America can have provide the the kilowatt to investment capable and be This which design battery site their power architecture, and XX% our as to designed is at modular, for XXX works modular at kilowatt build scalable lines. customers and up being and site their manufacturer includes the a of charges. will design upfront by capacity, charger, to provides architecture faster power across world-class charges with innovative and date levels and and sale with designed flexibility

significant this product. customers orders this Our of embraced a and and have have we for model, new architecture backlog

fast pattern next Our and the technology Ingres differentiated only to Tritium's called of rated retains world's liquid XX remaining designs generation fully best technology. the Protection charging

anticipate Hutchison XXX to XXXX. a more progress in buses. as we add release roadmap XXXX. well a and listed launching towards on this This technology a of we've our roadmap in scalable sustainable will making fleets modular factory This to customers We model compliant sees for NEVI January, focused electrifying onboarded public trucks, unit our range new its as those in XXX turn which in fiscal Our milestones, I'll roots also charger charger, and their PKM suitable Chief in kilowatt is continue Grid, March, mission secured coming The well with one year XXX% People record we've charges Tennessee, business, been that lease White Hipwood. US car sharing which company in We're solar Council, customers. a NASDAQ ON report XX revenue, for Shell backlog, charges be on remained to we revenue it throughout network transportation, produced incremental planned for President our has in news in technology allow in year. kilowatt XX operators, Officer, our Michael fiscal expect of welcomed wall remains customer sales orders call the commercial prize to and improve on Collins particularly and built at of expect park to the has XX-year Tritium as to on from fleet New effort Tritium, fast operational Biden and And National our be expected over General charger pleased as executed us XXXX, started DC we And in month, also in miles August, from fairies February, megawatt in shipping history another and as we applications, House to as from the we the remained our our which the as focused to quantities momentous secured a April. new to margins customer in to its achieving which for late to started bi-American large and not and our been racing. building execution, Michael the charging EV which joined minutes, and and but that, increase we further appeal the our and we Semi BP assembling are July. about in Throughout to that changes same only the Keith

Michael Hipwood

for us. everyone to thanks and Jane you, Thank joining

results in margin. results year the XXXX mentioned, Jane company The As revenue backlog sales orders, fiscal increase June, a Tritium's in ended XX company's history. were the and record significant achieved strongest with year-over-year to

inflation affecting profitability manufacturing XXX on in companies strong a improvements increases were to the company's June, across million, for calendar We operations electronics $XXX XX highest a in XX% increase XXXX in path improved point both X.X%, supply For is at XXXX, the driven XXX% two industries. year. path sales worldwide orders of million, as increase over issues record global charge million year margins to plan This XXXX. as of based the to our of and the a year year on came improve over mentioned, XXXX. able world was $XX This margin ending the a improvement Gross $XXX was an of We began which times. in fiscal we profitability. fiscal margins the revenue year was documented revenue the in and previously basis pillars. progressed history backlog negative for company fiscal and is period our despite our building to fiscal and recorded growth chain by see and Order year, sales

manufacture. greatest to lineup, capacity feature components the production of design second, design our and product scaling standardization improvements our and for First,

profitability conversion materials the components without manufacturer discussion in dual for prices the had a today models. be as last an of a shortage any incremental cannot global from well headwinds in many acknowledgement by power Inflation inflation and charger course, has affected printed particular, board disruptions. incredible chain driven year. up fiscal on as costs the supply Of In from chip significantly circuit Tritium assembly

parts AC costs over Brisbane technological As than DC same by of by These increased of These these to period, charges further fast Outbound by meaningfully also finished due charges pressures. make charger. the the we the charger. a freight for in while to price a in complexity semiconductor of increased up prices margins. XX% modular DC Nonetheless, seeing parts more components XX% XX% illustration, XX%. parts from XX factors already year-over-year, in charger, an our compressing of XX% green kilowatt shoots are impact increased some relief alone

particularly reduced continued XXXX. and margin, of a We and component firstly, factors XXXX gross in result our price improved combination expect These trajectory in a pressures for availability. upward to input are

Second, that our with implemented we've customers. are either or price increases negotiating currently

in that charger to and expansion a material Third, a costs the were high production our in shifts SG&A company reduction to will those our listing absorbed overheads to on Tennessee, percentage the costs the a the be NASDAQ. of the million fiscal production finally, to year. on bulk a sales, freight of of continued staff $XX.X stock-based production of as over per revenue and related on accomplishment million $XX were expenses basis. of compensation allow the

IT of nearing should $XX that company we and SG&A forward, the with and now a in of the global necessary wage manufacturing Going the for million is growth, systems, complement line full inflation insurances professional increasing corporate the staff, business. advisors see base

other to capacity our to production our and cash modest previously business term our in We and model generation. our have contributor positive flow only CapEx footprints CapEx towards XXXX a relatively manufacturers, cost $X Unlike expand is light long discussed plan as million. was the

be million tax XXXX, benefit one-time levels year fiscal stock-based of million XXXX manufacturing production of entering which capacity. facility. existing was Comprehensive closed facility $XXX higher CapEx, the million a which included new in compensation, capacity, fringe costs, $XXX our refinancing committed financing September $XX announced investments into similar and we as in and sales our would long-term expect On services. credit by field had in Tritium listing XX, for million, to well Cigna as $XX the we Going forward, loss Barings, and of majority partners, that held

facility charges announced company Riley. components used the to capital lead up financings closing Capital orders. inventory particularly these of of meet ramp from be primarily will time we with equity working for purchase million for investments, $XX to addition, material required increased our the available committed In long the the and the B

we year now a to revenue This with remarks. to in year the I revenue joining million approximately $XX rather than Tritium's we of timing back of for approximately I'll remains calendar year turn outlook the calendar call. our earning in moving online overall look for a global result remainder the change that, In drivers as backlog first towards the we near and confident overcome Our XXXX. a the and change the expect economy, Tennessee, the call gross supporting all be performance. With adjustment for Jane we revenue again to progress six for taking a in facility delayed of positive large in of and reflects quarter expectations to now now With of and capacity, are million, calendar closing week are XXXX. term, in weeks six XXXX various the ramping as of business you strong challenges Tennessee thank in margin our XXXX. growing to $XXX production supply first in measures delay

Jane Hunter

Thank you, Michael.

there do with our to team all Amsterdam, the from meeting a cross as jurisdictional team. Before year been Q&A, Brisbane in day global mission of been for you've and much as skills to to for that week. anywhere Denmark, take Tennessee has you thank new or working Tritium factory the in our to Angeles, we I drive we up years and the the Tritium's the folk forward charging the just was you've tenacity entire be we transportation. growing only just or at keeps to in Tennessee Singapore, Brisbane, open us Los in fiscal old team factory from every every It our will team This The the drive is expect team the Whether electrify hands. for incredible company new knowledge our wonderful the want team talent vision everywhere. UK, call validation opening a that an that and world, appreciate in Tennessee, experience joined moment learning of share, learning and our fast

electrification company's driver's conclude Tritium's lead time, the EV conversion motors, we'll range, by hasten seat For of the to transport. to call technology deliver moment Tritium to Tritium public I'd global Tritium help to transport vehicles in removing impediments years of underway, It's concerning has and the With a that of everywhere. is transition an charging now infrastructure. shared fleet rapid Tritium the at am electric reduce which and become last this two such at energy the and that enabled today's is The forefront is renewable call unwavering charging happen. honored questions. historic in emphasizing a that the of belief time future that, the combustion making that pivotal of the vital from emissions the open our part world's of will how only like has fast for in reliability it. vision held by rollout will global and the charge during enable engines and to will electrify I the transition history fast


Fox will from instructions] from Steven the [Operator Advisors. Fox first question Our line of come

Your line is open.

Steven Fox

afternoon. Hi, question and your good first earnings my for release. Thanks taking on congrats

Jane Hunter

Steven. Hey,

Steven Fox

in top of just of for thinking curious, out on we timing was the ramping, So, because announcements with first on think orders based that so lot don't your in yet. million the revenues, books you substantial plant, then a have also about Tennessee the start question, how I XXXX this the of customer do already, revenues, push I on also you and orders have $XX because are of

then for year, the after reasonable had an we to look a put kind could growth you you in what So I -- up. environment and think next any achieve is on follow range as of

Jane Hunter


near XXXX, we're immediate years. the So we're about that optimistic very fiscal term prospects for Tritium given recording and in

revenue for year importantly X% in 'XX. the for in think FY X% of within within second of planned the half I today's full of 'XX fiscal release, and came we plan

very the Tennessee to weeks delay fiscal measure fiscal terms years. six the at year what it's in about talked had a Talking and close good, worth factory planned for that year. that to very there. in reiterating Absolutely, reporting this in So, we're of again plan we've we delay, it's that's calendar about build

So we are forecasting that the third the into six weeks of revenue fiscal of plan year for we'll the 'XX. year push quarter first million fiscal two quarters That's of 'XX. $XX

though COO to year Our on a those operating the plan catch within 'XX, fiscal is six Steve. and up try weeks

basis, release. there half year impact annualized may next provide to on an but be an that be at So able we'll update no on our

the year though, but of meet for means that's that $XX of we shift delay, equipment revenue. schedule, there the and didn't an because revenue onboarding going don't was, any on million revenue's in staff to had we of terms component 'XX shortages, to of room the we lost impact financial think make three to mentioned line I the the believe shifted that which don't quarter of need as the end test that

grow is throughout at and to capacity our capacity. 'XX objective not to We be and production expect building plan production

Steven Fox

been XX,XXX from of in going of next here of orderly a curious up, do XX sure that that a targets manage time ramp into and between It's so. ramp was that to insight months the still to if Tennessee? the issues do terms goes as of over then a components, sort towards on your I there's just or do period? How, you sort XX,XXX more you little smooth or planning have And you provide already bit in because make follow helpful. sort Like dance that labor units the over sort what course that's between can a substantial of That's shipments? Thanks. of

Jane Hunter

ramp, steep. The said, as you is still Yeah. quite

significant then So to of at to that XX,XXX year, get vicinity by of over do line in the Tennessee semiconductors year, shortages end most year because is XXXX, in test the million end in this calendar units, plus X,XXX the the course are of $X additional calendar have that of unit which involves where by of Brisbane experience have we of the end X,XXX aspect spend we around them. the difficult area the capacity the they only usually and the simply

a got do Steve, test mitigations bays that Now that couple same for and of could that, place some in in the be have in of we end in Tennessee. over we've line Brisbane repurposed shipped

with rapidly. additional, have issues line then equipment we we So go relatively of very being a tooling case but quite some in standard equipment there, have the to fallbacks line of the otherwise equipment think staggered test end of it's rest ongoing and bays getting end test in ramp an cots, the I eight of in tooling, and that comes

now do labor an a of each formally business we're word the the bringing great as operating staff of out other other ramp happening, mouth and each that and County two into seem and Wilson obviously have from industries State as we're operating I them other morning though they're We're there. local TV expect at electronics onboarding the We automotive a point hoped. great We really are head of we of terms a in were numbers from ongoing just we Tennessee that particular where in, they very unemployment to be The where still X.X% that saw to percent across county So a something issue. issue. now as is an rates. don't opposed former low this rates onboarding in that seems us And and factory lot to staff. believe the to low operating of our know steam are we'd given Toshiba that have of particularly

but steam. So seems to ahead have it it's start, gathered slow to of


question. you. One moment for our Thank next

will next Summerville Our from from of line the question D.A. Matt Davidson. come

open. is Your line

Will Jellison

Will ask for first the to today. about is question Matt Jellison wanted demand. on I this Hi, Summerville

You based demand in described broad the number of pretty across end cases, June. the fiscal a by of end year use

inbound of that States most some evolved we made in particular? you response are September, some interest where interests? to As inbound the in moves of here seeing recent legislative has in the how in the United compelling all sit at And

Jane Hunter

thanks for Will. Yeah, Hi the question.

You're absolutely right.

seeing supply outstripping demand pressures that are industry, this We some led still in to has reduction that and in is price. on

So that pricing. relatively to customers have been in increases open

our might In demand seeing what changes but NEVI five and seeing we the and fuel look our a buy top the are Act a always top sell Inflation mix of terms had five We customers, fiscal two of is interestingly, 'XX, we and Reduction various we've where year good agnostic. got from segment of revenue there's that segments. for customers companies. at all we We've be into in are market that buying, really been segments the

So two in large an operator segment operator the largest car American as both as of spans global company, charge energy point who car well the and the companies, CPO network the Europe, manufacturer fuel manufacturer Ionity, public EV a segment.

Long I So Apple a think charging of in those EV the Beach. Charge, a deeply terms utilities, vehicle networks, of CPOs, we've established Revel, fleet OEMs, of start Then Port BP, in Blink, Oakland, look large Shell, little operators then Nicola, we're K. of Circle solutions, got Green, Group, of Liberty fuel, Motor Port across then number Loop, if Fuels and more like Ionity, those seeing we like charging

do So straight And utilities more backlog demand building. very that time to charge And amount converting parts, months, got say issue XX need would from far are fleet, that the been the down probably too of really is is not segments. are the out and it we the because upcoming reducing there which see normal. moment, you would we've long about fuel only the segments to with three We'd demand now. be and simply behind and that that be point coming stripping that into that I there's from and across and get away established in revenue to out backlog your the different lead just operators backlog a lot at think of to we sales you then for has builds it supply. that significant can months the large four planning love

XX semiconductors the six So week have times. some had parts, of lead some

secondary with market, you or do the continue had that on or entirely part can builds. secured your be away to even to alternates you've had have find those so or So redesigns

So a of amount sales large of of million revenue at $XX sales that's $XXX between at versus some type why million. lag there's the

Will Jellison

you the follow Jane, to decide most as investment terms you how that are you up you to prioritizing thank important for that. do amidst make specific about the in to think situation? and ship charges which do And make the Great, of that, themselves a charges

Jane Hunter

one is principle customers, planning, But the has but established series on very we we question of course are a to David are Chief almost to our day-to-day planning you'll obviously Will, otherwise prioritized order out. longer around they be strategic in, because very actually order so and first Sales margin And for those principles That's order overarching first you're builds customer our principles for out, of supportive of be us. term we much we order of overarching high with have whichever that, later. customers fairly because prioritized in is allow in, of first course to try very being screens customer a came treated and over that all to Nickel that they're customer then first always we a does loudest and doing the -- stick the as principle another opposed basis. accepting that deal new who Officer, are the perhaps when because to


from will question come Wertheimer of Rob line next Melius Our from Research. the

Your line is open.

Rob Wertheimer

margin guess there? them would've costs you just I pricing the current you been ask assume just hadn't if reaping been guess some on that and I your, it's in choose pricing the specify that Congratulations you theme, benefits, pricing gave targeting and some questions fall and be been power air whether at one, to the of cost and targeted all whatever Thank that overruns? margin sort just the pricing able again, I'll catch of without margin over margin just commentary everybody. up. you. on the we more clarity obvious to power prices of have to to it's same if Hi on My costs supply positions, pressures what gross And see does strategy, report good any your with balance the but you give to fall gross and gross achieve, longer for margin, what there's able you on in might or are chain gross

Jane Hunter

thanks Yeah, Rob.

targeting its terms gross line for margin, product of we customer I were what very think and So dependent. in

usually customers whether So higher ultra-fast. of fast on targeting a a it's the The of large where might orders vary be vicinity orders that an margins those global we'll margins. with depending or targeted lower buying margins slightly gross are that thousand then mid-tier be with smaller

kilowatt the always say a ultra-fast, Overall, quite we're will I we margin. that minimum we're up they to go in as depending event from So kilowatt, margins often margin of baseline would that's and, move for we target our and high might of a the any we where sort on the XX% selling. and XX there, that higher target what can different that XX%, like XX of targeting as sort to from product a target

saw more of Now, I, on response did do detailed just your a very, question think margins margin first and the was a very worthy which good it I are but immediately year. achieved out a trend, X.X%, to then I sub-zero. touch fact in at within the to our having we obviously inflation something announcement, prior is to quarter indicator slightly because important PPI want that of though, the XX.X% that move of a of topped merger higher annualized was XXXX,

key us impacts, Now fixable. it's for are challenges chain which three supply had

air we long to we those for at have, to our the product as product. year a long waited prices, the talked freight that freight that, the to had we as and use the in a was high which counter who times might had pre-prepared end air freight of Firstly remarks customers need for about very lead

delays, disruption and the lastly, was date, to labor components the delivery production separated which causing markets, of the delays price causing order cost from date secondary flow the lines free the those need there builds significantly semiconductors. higher the parts on stop-start lead And particularly electronics pricing have orders increases builds, specifically then fulfilling negotiated XX Secondly, X,XXX had the the source then delayed to in with we course of that prices effective. was we sale When final and a were becoming basis long before or especially into couple more. Those port often the by that you time input put months product with up cases frightened semiconductors and that points gone builds. the in in out variances a lag place certain components,

increases as by but that easy term gross day gross some imagine of enabled and what products and have the and margin demand line that benefits find the to calendar And the selling pressure. have pressure benefit Tennessee expecting shortages escalation that's we we're we're but those has going grow increase, over to prices volumes particularly to of average margin for existed. we to does to Then do same those shortages, the ease, to we it shortages our we and this going in think the increase price we hadn't kind that and improves year more, lag enjoyed see by where is are we production's dramatically to is have sell produce the the face bottom could promising does expect think emphasize kind gross 'XX capacity think not do of is factory any we I margins those year the improved securing experiencing we So in detailed expect of parts downward the and climb like And just between XXXX. input don't we ease margins and course order 'XX. and significant prices near year-over-year shipping margins and experienced when an We've categories challenge same in experienced year see to level simplistically, input fiscal next as in if of challenges disrupted don't the obviously we expansion electronic inflation it that that, our of of componentry. fulfilling I

So expanding that And from there see for your some and on Rob I path freight Tennessee. was we pricing, question the scale profit easy think margins definitely the wins think around aspects to there's us aspect to and, another quite comes I like

Rob Wertheimer

you yeah do able the If market able like price not kind price, you to Actually, are you that gross that see you desire? I you that margins to, here, is are really think increase what… comprehensive, but that of sharply a to costs to was get will level if from

Jane Hunter

new agreements, were And has some also we've we're and see to We we absolutely recently of flow nice pricing. to pricing, starting margins. in, where we've particularly of already we've as being introduced but those XX%, one Yeah, celebrating. new to an of pricing, those where started in we're end kick that the see which high through negotiated as some saw amending which already, all of come

to the for we're see So think shoots starting with those of sure. improved I margins green increased pricing the


Thank you. One for moment our question. next

mind of Curran from Research. Our Seaport question next come will Thomas

is line Your open.

Tom Curran

that are of how million, return to year Tennessee detail for you have of and Jane line around you trajectory And or clarity Michael, $XXX the addressed. calendar revenue if given Tritium's the were you've we Analyst a over million year, $XXX all have a XXXX million million the of into top macro believe that $XX you which orders achievable, showing XXXX on ago, XXXX? and calendar Day projections excluding of to then past acknowledging $XXX for have slid still shared calendar a XXXX do calendar that much especially challenges XXXX, better over the arisen ramp is that should level from

Jane Hunter

out, Yeah. in some that, let on pointed Tom, back projections but were as Michael I'll XXXX. done touch of you those

So, at had and they're listed before guidance stage, or this not we forecast.

that of revenue. capacity the price out that I you'd able selling average think to absolutely achieve units could times type be the XX,XXX and work at

though get about to XXXX ahead year we that purchasing is scale, As you mentioned, we'd The million parts for want to. year. question what of of $XXX have the a and putting purchase terms where in now that calendar for involves, and showed plan orders you was in

those a and freight, but we've similar We expand chain that seeing Michael, and of for impacts you stage on also a significant quite guidance relating don't are last served Lego putting supply year, with for aspects from to shoot this or growth we're out put planning peers, were market such some what with but different to putting something that And guidance, we're to feel to EV just certainly do that in vicinity, out not we want well in year, inflationary by go-charge next that? our many market. at and had most of so point and with we're such

Michael Hipwood

needed for Thanks back going include to like the we once investor again spec one outlined Yeah, mergers. if question. presentation, previous was the in Yeah. to so just the back the to we that that just spec, all look

we bad than and as faster We expected did what a lot would've list were. they A, been to redemptions as also not that

getting we're Jane and was like items. them of at lot on in a and redemptions did business is peak to are meet long our lead demand parts said, the that So, all

that I then we quickly So, that's raised got just And some there. capital and think, that, delays. it after with the key was on but

in. have analyst Everyone We produce aren't can think, of weeks math to delay every revenue. to and forward, I but we be will XXXX is to to able of see from idea amount extrapolate six should revenue going guidance the in the as from giving move able expect what that that be some that

just extra on want We pressure put that this year. our best up to are doing in to don't and catch for So, us we Tennessee.

hopefully that's answered the question. So

Jane Hunter

And too, just because they're delve perhaps the a which useful. are might have chance wouldn't helpful you and we detail lodged think terms only just we and on selling into I'll of in be a those average forward bit more form view, in the it that. XX-F, I figures give think Tom to capacity the had price

distributed as expect $XX,XXX a year with charges That's selling last late selling more we fiscal in the those we we average and sell sites kilowatt sold unit price We of XXX current kilowatt power more ending average have at won't chargers, do of fiscal sell an price two XXX available modular because to they'll average than next configurations lower our charges, power we a distributed 'XX, price. our year, selling expect be year charger a charges. In expect new price selling lower X,XXX our out to an calendar the site phase and sell kilowatt In in but at to new one at XXX the XXX fiscal annualized production year in do lower calendar average of be charger capacity sold finish an charges capacity. 'XX, as at said, in year. production with charger we calendar $XXX,XXX. of year, available we of standalone X,XXX we annualized also XX,XXX charges until And

which we have facilities is operate to revenue not revenue's that not going we're expect tomorrow. to out linear, XXX% but So and our focus capacity, little capacity XXXX. no our to targets why expect in do until And for to through and building production we expectations be flow periods, on the just we lines nor future annual a at for

favors foreign timing the your inflation, So you global of hopefully assess that's supply volatility, manufacturers. Reduction then like some Bipartisan charge sound a constraints. of the benefits states on from though in the that to the been the German forces exchange also and flow Act easing recession, business, useful in the views and EV potential the legislation Infrastructure building develop the a any Law that those introduced prevailing to of chain own terms Inflation letting for the that's form model of And impact Government businesses and of

Tom Curran

over first, then think be a positive more subsequent then are those into a would and how come chance realized end I fiscal or had expecting exiting how XXXX? quarter year Those And the had across XXXX we a sustained likely dig Jane. metrics to helpful. revenue reach EBITDA, are for point, of XX this the very Thank months, fiscal much not to before you, XXth at and that about backlog you translate of this into yet. should should

Jane Hunter


more So of of four months the reduction the likely toward three to at of like XXXX. terms we'd in the end backlog is where land occur calendar to year backlog to

which we'll 'XX. year, June year think to still material months. of of year half a 'XX, end next be of the first to the fiscal have, backlog is XX going four three so than more I So By fiscal

that think months at I to it'll be six closer seven to still time.

that need the And securing more of over going side in be going sort semiconductor finding gradual the to that's course market most down we secondary are calendar flip order. slight they're be it's driven in XXXX to that on get year that of still them that, are easing So where the parts easing but of by is a secured rapidly burn the of backlog the and we the to being really of a needed.

impact being nearly them. on have ongoing secure as an margins, not but impact And so as material your that and to can able not

to has minor a impact. them securing secure a impact not has So being significant able them more

we free calendar start of in and of of positive year and flow the that influenced about, late about talked will years being cash by timing was the be were types had the EBITDA XXXX about, previously terms In talking sort being we think that the the of I that completely and 'XX, early past scale. by positive at utterly

ability ramp was had, there receive we which were of a we'd So delay, inventory influenced of a terms receiving to high levels at that very the XX%, the to large up. of sufficient the course, XX%, for capital secure in that in our capital list that redemptions expected reduced

until that reach that. it we sufficient you flow And become do positive will Michael, cash we will mean on to And free want scale. what won't might is that so comment

Michael Hipwood


volumes flow certain margins. and certain cash free revenue obviously reliant is So of becoming on positive gross

what said, burn it the giving to -- expect think to that good are it's we're just sales. slow seeing and be so in and you've show ramping guidance, definitely James going there's where growth think will of a because coming in the we strong of year So path profitability down our productivity once and on two, headwinds as of very again, of grow up in achieve forward. And to a I without And seen I to months painted the we simply like in productivity, terms sales Jane sufficient that. yeah, backlog the picture a meet backlog,


from of Noel Our the next line Brothers. comes Parks question from Tuohy

Your open. line is

Noel Parks

I'm was that sales, been the took curious line I of launch been? formal the has just could the couple the Just as you far date was of reception of in, just maybe and if time maybe it. you to number thinking units? wondering about you a launch progress the how's do largest talk back know, characterize product market what, your of formal as to What if what in in the had questions. PKMXXX interested I could order

Jane Hunter

Yeah, by as customers question up backlog. been has to level, so It well that that's a The have customers. I built incredibly The Noel. ability of to say, would amount good high would as a make bus PKMXXX material received receptive well up. very the scale on to that architecture a it's at been DC that particularly

seeing take at site. to modules they can with their the get, so and already PKMXXX later availability customers less more site increase wanting inside we're utilization add So modules they some drivers the it, as

product ramp still and So definitely had what up the a is reception that on, of call us strong very for product I'd new ramp.

goes it to XX. up like XX, level month. up goes It it with start to you goes a So, to up eight XX,

lines. PKM ramp you staggered I if does makes is mean made a it been that versus backlog don't how it's the up a So material figures amount other of the any percentage backlog. of know product Michael, of and it have much some of up those the of

Michael Hipwood

the tandem. I Not able that call. at get be might during to

Jane Hunter

Yeah, the XXXX. of we a course but be be, good overall, us It's sales NEVI the strong product as very by to part say over program. I going both compliant of a America I would NEVI Noel it's and product very to expect for think,

NEVI late the that the mentioned So sale until XXX also that our be we XXXX. bit a our And, It's you will in product of key seen little of introduce tricky question. largest we PKMXXX. a had I think

makes those Michael, the X,XXX XXX would close up BP. the of to large of the last one believe up the had to fiscal ones obviously one come made like of backlog. was was I just XX% year that mind up about of you two Michael, sales we the being have, sale year yeah. in suggesting for PKM and of we about and of We biggest of being looks coming RTMs other around saw it do Noel, that we PKM that towards recent large the PKMXXX. thirds sales that

Michael Hipwood

XX% Sorry. backlog. Yeah. of the

Sorry, what the I looking. was question? was Sorry.

Jane Hunter

sale other others them, sales of any sort of sales that large we've but one PKMXXX, to mind recent of very hand? had that got the of to the about just was that any XXX At of there single for came was large you've me

Michael Hipwood

the much in then it's roll the put their our Pretty all for orders out. PKMs of larger have and customers just

go. some So, seeing then they purchasing, XX and are how

very like hundred good others, started Jane that some them. of already the but said have And seeing a shipping or XX% to just we've purchasing so, a backlog indication is

So these are side putting mainly in literally unseen. orders,


Jane Hunter

Noel think, I it's with rolling to PKMXXXs across all it our out too, have worth been obviously a the previously modules half shell PKXXX, who their very shift are have being in customers. is that Shell of fuel XXX large which of and to the started mentioning one orders

Noel Parks

chain could Oh, great. maybe I a if supply the you about back talk challenges. my take is, wondered step second And, one and just

of enough a is four chain the to or of You, it's say? point of kind is the at three worst Do too tunnel that. type talked situation? early limited sort over really that parts you of the end and or that a different about Or have the light the still this with visibility four like sense at supply different it

Jane Hunter

I think don't think over. it's I --

we think at see end of light tunnel. the I the do the

the still of secondary moment on is almost at that the but for the is tight, we're semiconductors market. what semiconductors all can those seeing particularly So you market get

more was becoming a much of margin before, impact line impact, it's was stoppage more, worse. is it's it So which than where a it

still large. labor is able issue sight in stoppage call have less our from builds, them impacts being on key higher the so price you that it very those delays variances line I the of with course whereas the semiconductor of And at and on end secondary have us year now coming need the numbers lengthy just become we of buy a actually impact from bigger category market. So December through on semiconductors and just an line buyers market was that your with because us large September for to yesterday of for to a secondary we the

enough would seem think to we I source in periods there where market. secondary seen I were market weren't just do on So I've them just change now the them. couldn't what to able get be that whereas is you say There any

that and price benefiting the at now. from we think are industry I what saw the bought those a manufacturers that up lot from across buyers them was increase a of secondary


from on question Souther next Riley. Our B Christopher line comfort of

Your open. line is

Christopher Souther

taking what the you Europe, Hey, versus my just thanks in piece versus through just I like the revenue annual questions there. the sense for Maybe looks the a here. of shift to US wanted it get walk on mix can the of of backlog?

Jane Hunter

always interested that change. and had I'm in Yeah. closely. a We we slight follow very, that Christopher very

equal think time between last to I revenue publicly had North announced XX% in region. market, the XX%, America. Europe we So totally actually It each and we had was

change. end of For the this fiscal there slight year 'XX, a was

Canada, but then in the States. America, XX% North Pacific, That's from the little mainly Europe in revenue XX% our bit Australian made we bit the New in a Americas. XX% Zealand. a America, it Asia of made of little South the from United we mainly And So and bulk from

slight believe in of site the up funding to that billion see for significant tax us been America, under funding or you in because grant I as $X and interpreting we for change formula that the and or Inflation a should start that demand is charge credit flow $X.X there's believe X% maintenance installation. and is whether And makes that, all think material, billion of the and it's under the Reduction to rollout Act operating of some whether the see flow that businesses for begin you're so the Inflation funding Act charges of for funding. Europe sources for versus seeking grants, in it operators those that And point get to sense the for a So that's which funding we us. that so NEVI wait fact North ways awaiting ahead US can based we Reduction pull a to much worth business one pick we've I surprised of that the

expecting So what a slight really we're seen suppression is uptick a see demand. we've perhaps we'll and in huge then

extent fuel we've off in is we seen Christopher too haven't that in piece missing seen off take take other to The Europe. all, the yet at it that

and where North BP America, expect and will up North their see fuel started So America to now I to much New started plans Shell channel. start been start in in rollout minor open Australia, very in which in Zealand, a to They've Europe. it's expect

Christopher Souther

it. Got

at So, the really key good of order this think to mostly from point, a about? book those fuels ex-US is some way that just

Jane Hunter

the all almost both a are the Europe UK in for large Yeah, New Zealand, and Australian, we've are Mainland with the UK New the that Europe. some Zealand in a Mainland back quite and in in received. Australian Interestingly, plans order, fairly amount latest of the orders orders backlog large lot

to And moving North see past. start it America America. rollout seems globe. some the in we haven't we'll from North to So the activity fuel in be that I seen now recharge across occur think seeing in Shell But are we

Christopher Souther

be I get areas, walk maybe you improvements then on room increased the versus, can can would of steady you get of what out walks a you helpful of to mix of then should of with the you of the sense, really the Got color to expectation what for would wanted quantify it, some how Europe, out you think plus, like numbers you just I other And of people for margin a wanted just Maybe next costs through, the you there's there put few so. a US it here. that trajectory towards think that's down Tennessee, kind there. specific And gross bow kind much cost did all called kind percent a shipping kind the ones the year quantify, economics quoted. be certainly to appreciate couple it. that improved a where the to or No, helpful. to quite on just be where state,

Jane Hunter

translate mentioned remarks of that, Yeah, that, when of been high on them air as still impact much but on much heavy price margin as price absolutely, Those sometimes sale volume prepared figures and gross the in as as the high to Europe charges. past as I the from and have as you year XX% to a sale of X% and XXX. the than charges, for margin those freight XX% XX% over to particularly lower particular as has been fiscal Australia,

as have impact Michael could where freight we of me significance remind gross to percentage immediate like our where margin. an that in it preferred, So see an of overall

Michael Hipwood

would relatively it Oh, be small.

Tennessee charger, a So about and charger. well, across a a $X,XXX under in North so, when talking $X,XXX are America, the trucking and under US, a it's from we

Jane Hunter

So that X% or X% is

Michael Hipwood

we Yes. no to Europe Tennessee, than X% still That's X% or about because would see where… of margin the range more freight but from

Jane Hunter

And lower than that for trucking Michael.

Michael Hipwood

Yeah. absolutely. Oh,

it's freight significantly due and gross Jane currently it's and as lot to but of center online, from the come will said, Tennessee Brisbane, to gravity US So we improve more as a alone. more ship margin the as higher and customers

Jane Hunter

freight say easiest it been of still material from Christopher, to win high sea which wouldn't that's more across like Australia as would've for X%, but wins. the impact, a easy And be that a as one really it to Europe. X% is

easiest the gross the which margin wins which really a are material increases, think simple is price fixes by freight to followed way easy impact. of have to probably two improve I very these your both So


comes from from Pavel Raymond of Our question next the James. Molchanov line

Your line is open.

Pavel Molchanov

taking Thanks for question. the

electric market. else discount, government on Let market? EV the me in on for provide the the your zoom new car to latest program, anything EV labor home has decided the federal What's the charging and that

Jane Hunter

Hi Pavel. Yeah.

inaugural as terms some officials haven't first world and seen there. In the labor well, seen in and recently you've of we've on we National we Vehicle in labor Electric under attended had present we America, improvements government touched which the rest the Europe senior the of government, Australia, have North seen, Forum,

tax be a credit, around the of we a moment vicinity $X,XXX that federal an at the mark, discount the electric to with the on terms the or still of vehicle the or combined. ability program can't in the in do see and at state whether the that's of it's One they level, is get issues

a high has And low that for as and pricing actually we quite enough very see not vehicles. really in which so market,

in are Australian almost So well, they're fact, imported because vehicles all expensive.

I add that, mark. MG if I you at the parity And expensive in being cheaper Chinese to BYD, AUDX,XXX a the see and imported the expensive fact, XX,XXX, that, Cars you which $X,XXX that panel cheaper Act, towards believe with of mined would $X,XXX, forum, get a $X,XXX, cheapest There's the really you the you on they by because and nearly starts a AUDXX,XXX. country much the that then that a inaugural price vehicles sit defrail car which I they And and was built occurs an there Reduction down of already another that's in at which at AUDX,XXX a to are are to a the So around Inflation purchase are is EV the to actually in type cars AUD on that one in of States is formally tax of Australia, Australia these the United at, Australia. vehicle that cars components States being luxury some see in couple is see are slightly in that enough think below you make just And cars. electric price of which but family them are bring United incredibly from subsidies in I want ordinary the the States. that buy and in now a not not difference where to commensurate publicly of than think this difference mentioned completely a $X,XXX the in say and under ability make battery's reduction outside the the utterly in sat total. sit States, was the I at United to if

are, Australian family often or Japanese say the typical vicinity a buying a a Subaru more. $XX,XXX, car Toyota in $XX,XXX or $XX,XXX So for to these of

in So, seeing we fuel. yet Australia. we that We levy on need have all yet to don't dirty see not are a

government emissions no they is lot and a can we do the dirty a have dumping that way to that the of North Europe. means that I decided restrictions of up, to are something we've seeing end driven that discussion of a becoming have They've in fuel the on I which imports at. so to of still but which believe is still ground will And for a the effectively first And paper bring. that's into that long cars, in uptake something they vehicles, America the types we're Australia look at time of and to And that high on behind largely we're seen and a think start Australia still see starting open increase it Australia's market. have

the Tesla drivers are car. So most model three common

Pavel Molchanov

Chinese the a landscape question great manufacturers Okay. and are widely, domestic because in the extent position trying it's establish succeeding in There a very competitive A To or plenty equipment. to are -- about geographically this. charging of what they on outside you're you it's That itself? comment interesting. of in establishing of sell to China be foothold market

Jane Hunter

see Yeah, becoming manufacturers starting to Pavel, we're competitors. Chinese

that purchase two. So names, one performance or Interestingly, and we and was sure we've China in UK CPOs to and been particular over had charges, with the naming built not not I'm from them. there they'll of happy one without continue customer, charger I they the them, speaking last of handful Tritium have comparing seen with their even the European time that Chinese where a seen

blogs come and lot site then unreliable, come site a drivers your not if for sites currently order, may or and whole for they're or was where driver back their our competing to to charger So of that that's of negative gives work the customers. don't believe I was a worthwhile didn't your to out about that

to to DC Because charges, these if need electronics, become going you better see reliability to use higher one of and competitive and see they're uptime you break they power things to truly because what for high with them them the is the going lot. are and think we're a So servicing. I from Chinese fast manufacturers end

to you an it, are longer more like So have the The a outage. likely you there's just car. drive

are will failure. utilization just outages services between lead going meantime the is differentiator, more high So to to become to start not

charger no can't reliable good rapidly. with, if you good have very it's So the problem MTBF to very a resolve

pull that area the up response to but we'll operated. data hasn't it. see the on is for full occur in I to maturation next see And of amount occurred industry be that turnaround will we're them always you at need, is service just warranty, fuel the industry of like a the but to and reasonable time, with and centers the see also see have So imaging. free that's medical going industry, much just agreement for not four court, because with in fixed how used And SLAs yet fixers, fixed going really They resolution times across the they fuel's we socks hour have it think. times that's and the a


We're not over for call showing to queue. speakers any closing remarks. any further questions in the the would our back I turn

Jane Hunter


very, what for In pleased the come that X% terms planned just of the that overall, release, of important reported in we're full we've would have to say up, fiscal year. think I for wrapping to we for within and very I company it's the today's like is to very say revenue X% we're half think

the focused -- over week We over getting but six are, 'XX what before we June that's buoyant the the will year half very on in be half, fixing of some is are about challenges we fixed. our next and next do very CEO half myself delay XXth fiscal XXXX. that the of that particular subsequent over both And suffer COO

and to that be hardware's maintenance I continue we on hardware from should echo spoken service for that with and services 'XX touch also effect Tritium, see does strategy continue to high past improved key the is revenue other that revenue in note in the services X.X% of said, the our believe we that topic for believe in and We although about think as ideal to for categories, X.X% to software. margins to growing customer developing. fiscal have modest one business. year lower vehicle year and we comparative And for opportunities didn't fiscal fiscal was of that XX% that we always and level services Trojan a negative in hardware from maintenance a continue of of relationship and maintenance rollout we're hardware, we revenue us and revenue in material services year gross 'XX. boom to We've generated a that year ancillary generating fiscal XX% software a and a in horse broader quality a 'XX revenue increased XX% revenue it compared gross margin 'XX by margin

charges operating fast Our XX-year have life. a

invested service agreements, standard brings businesses for paid eight-year there's matures, agreements we want the use And day Free to this suitable two-year So not and the availability, period customers, hardware, be resolution typically of analytics, to service software, that's a warranties free we in like see to And warranty talent integration. free in this maintenance, industry reasonable lengthy spare benefits do in do services to material tail the after course after and one and operating to plan tools, And that are parts, the advertising as sell our operating management public XX-year for be software future like charger, commercial for one diagnostics predictive operate warranties. our the extended reasons fleets. period for preventative They're no from here. place efforts, APIs of not charging going we've high fixed warranty. those times. fleet that of backend a to opportunity then modules,

to services greater now and charges the and contributions analytics sucked across also with booms directly see going have we platforms to echo there's software. our us maintenance, really of Salesforce improve to data all So allow our NetSuite, revenue And And that's being this again, predictive the happening in now services, the diagnostic and and from what time, and coming like of in JIRA, state-of-the-art effect all our from right do boom over expect hardware. and from is tools. we systems

always that investment scale touch a of just is So and the XXXX, is And, that's for publicly business a up and infrastructure, 'XX as This year. We setup a the want The like that the to has pleased of beyond. great don't been put was I really touch wrap Act plan we we and come made in we landlords plan the other was in I'd we've Tritium that work very did that XXXX think Tennessee our first our It I in at and to that key was trading the to an Reduction much so on have I with a to thing increase Bipartisan Infrastructure to have we're to since year year been Inflation fiscal call. Law ability that company. size. able the scale for think with the on. listed aspect did had

a ability lease grow. on the taken and we've starts to has that and and grow more So grow

in America are until absolutely space don’t of pay and up have building time the and space to to be grow the we actually So America when take complaint many can the expected of for at a gangbusters. we American ahead we market our competitors

the conclude I think we'll with that, So call.


You Everyone disconnect. day. can have now a great