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Exro to Showcase its Innovative Technologies at Inaugural Analyst Day

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Exro Technologies (EXROF) hosted its inaugural Analyst Day in Mesa, AZ, announcing the launch of OEM vehicles integrated with its Coil Driver technology in partnership with Nidec Motor The company unveiled its Medium Duty driveline after 18 months of testing and provided financial guidance projecting revenues of $24-$28 million for 2024 and $85-$110 million for 2025. Integration of Coil Driver into series production systems is scheduled for second half of 2025, with EBITDA breakeven expected by year-end 2025.

Exro Technologies (EXROF) ha ospitato il suo primo Analyst Day a Mesa, AZ, annunciando il lancio di veicoli OEM integrati con la sua tecnologia Coil Driver in collaborazione con Nidec Motor. L'azienda ha presentato la sua trasmissione Medium Duty dopo 18 mesi di test e ha fornito indicazioni finanziarie prevedendo ricavi tra i 24 e i 28 milioni di dollari per il 2024 e tra gli 85 e i 110 milioni di dollari per il 2025. L'integrazione del Coil Driver nei sistemi di produzione in serie è programmata per la seconda metà del 2025, con il pareggio EBITDA previsto entro la fine del 2025.

Exro Technologies (EXROF) llevó a cabo su primer Analyst Day en Mesa, AZ, anunciando el lanzamiento de vehículos OEM integrados con su tecnología Coil Driver en colaboración con Nidec Motor. La empresa presentó su sistema de transmisión Medium Duty tras 18 meses de pruebas y ofreció una guía financiera proyectando ingresos de 24 a 28 millones de dólares para 2024 y de 85 a 110 millones de dólares para 2025. La integración del Coil Driver en los sistemas de producción en serie está programada para la segunda mitad de 2025, con un equilibrio EBITDA esperado para finales de 2025.

Exro Technologies (EXROF)는 애리조나주 메사에서 첫 번째 애널리스트 데이를 개최하며 Nidec Motor와 협력하여 코일 드라이버 기술이 통합된 OEM 차량 출시에 대해 발표했습니다. 이 회사는 18개월의 테스트를 거친 중형 차축 드라이브를 공개했으며, 2024년에는 2억 4천만 달러에서 2억 8천만 달러, 2025년에는 8억 5천만 달러에서 11억 달러의 매출을 예측했습니다. 코일 드라이버의 통합은 2025년 하반기에 시리즈 생산 시스템에 예정되어 있으며, 2025년 연말까지 EBITDA 손익 분기점을 예상하고 있습니다.

Exro Technologies (EXROF) a organisé son premier Analyst Day à Mesa, AZ, annonçant le lancement de véhicules OEM intégrés avec sa technologie Coil Driver en partenariat avec Nidec Motor. L'entreprise a dévoilé son système de transmission pour véhicules légers après 18 mois de tests et a fourni des prévisions financières projetant des revenus de 24 à 28 millions de dollars pour 2024 et de 85 à 110 millions de dollars pour 2025. L'intégration du Coil Driver dans les systèmes de production en série est prévue pour la deuxième moitié de 2025, avec un point d'équilibre EBITDA attendu d'ici la fin de 2025.

Exro Technologies (EXROF) veranstaltete seinen ersten Analystentag in Mesa, AZ, und kündigte die Einführung von OEM-Fahrzeugen an, die in Zusammenarbeit mit Nidec Motor mit seiner Coil Driver-Technologie integriert sind. Das Unternehmen stellte nach 18 Monaten Tests seine Mittelklasse-Antriebsstrang vor und gab eine Finanzprognose mit einem Umsatz von 24 bis 28 Millionen Dollar für 2024 und 85 bis 110 Millionen Dollar für 2025 heraus. Die Integration des Coil Drivers in Serienproduktionssysteme ist für die zweite Hälfte von 2025 geplant, wobei ein EBITDA-Geschäftsbreakeven bis Ende 2025 erwartet wird.

Positive
  • Revenue guidance shows strong growth projection: $24-$28M (2024) to $85-$110M (2025)
  • Successfully completed 18-month testing phase for Medium Duty driveline
  • Strategic partnership with global manufacturer Nidec Motor
  • EBITDA breakeven target set for end of 2025
Negative
  • Company not yet profitable, with breakeven projected for late 2025
  • Production integration delayed until second half of 2025

MESA, Ariz., Nov. 14, 2024 /PRNewswire/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean-technology company that provides proprietary motor-control and complete electric propulsion system technology for e-mobility, today announced the launch of OEM vehicles integrated with its Coil Driver technology in collaboration with Nidec Motor Corporation. A launch event, taking place today at Exro's inaugural analyst day in Mesa, AZ, will also feature an update from Exro's management team on the company's business progress and future outlook. Industry experts and key customers will be in attendance to discuss the challenges and advancements shaping the electrification landscape. These discussions will emphasize why Exro's innovative technology is at the forefront of transforming EV performance, energy efficiency, and scalability.

"Our Analyst Day will offer the vision and roadmap to capitalize on the significant opportunity in front of us," said Exro CEO Sue Ozdemir. "While we're proud of what we've accomplished, we believe the coming year will further set Exro apart with the integration of our Coil Driver® into electric vehicle platforms, new OEM and strategic partnerships, and improved financial stability."

"Coming off of improved third quarter results, we are pleased with our progress and momentum," CFO Darrell Bishop commented. "Next year is setting up to be transformational for Exro as we target to achieve profitability in the second half of the year through growth, scale and managing our cost structure." 

Highlights from Exro's Analyst Day event:

  • After 18 months of testing, we are pleased to announce the launch of our Medium Duty driveline using an electric motor from global motor manufacturer Nidec Motor Corporation
  • Exro is also proud to unveil the Company's fully integrated Coil Driver® propulsion systems, featured in onsite OEM vehicles for a ride-and-drive event
  • The onsite vehicles demonstrate the innovative combination of Exro's Coil Driver technology with full propulsion systems, including cutting-edge charging solutions, highlighting performance improvements, energy efficiency, and future-forward electric vehicle capabilities.
  • The Company is on track to begin the integration of the Coil Driver® into all series production propulsion systems in the second half of 2025.
  • Update on partnerships, including commercial vehicle OEMs, automotive passenger vehicle programs and Cell Driver progress
  • The Company provides 2024 revenue guidance of $24-$28 million and 2025 revenue guidance of $85-$110 million, representing growth and continued validation of Exro's next generation propulsion technology.
  • Exro expects to achieve EBITDA breakeven by the end of 2025 through continued growth, operational cost reductions and bill of material savings.

Highlights from the Analyst Day will be made available shortly afterwards on the Company's investor relations website here.

ABOUT EXRO TECHNOLOGIES INC.

Exro Technologies Inc. is a leading clean technology company that has developed new generation power control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company's innovative technologies serve to bridge the performance-cost gap in e-mobility (Exro Coil Driver®) and stationary energy storage (Exro Cell Driver®), and act to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. 

For more information visit our website at www.exro.com. To view our Corporate Presentation visit us at www.exro.com/investors Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2022, and financial statements and related MD&A for the financial year ended December 31, 2022, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Exro Technologies Inc.

FAQ

What is Exro Technologies' (EXROF) revenue guidance for 2024 and 2025?

Exro Technologies projects revenue of $24-$28 million for 2024 and $85-$110 million for 2025.

When will Exro Technologies (EXROF) begin integrating Coil Driver into production systems?

Exro plans to begin integrating Coil Driver into series production propulsion systems in the second half of 2025.

When does Exro Technologies (EXROF) expect to reach EBITDA breakeven?

Exro Technologies expects to achieve EBITDA breakeven by the end of 2025.

What partnership did Exro Technologies (EXROF) announce at their Analyst Day?

Exro announced a partnership with Nidec Motor , launching OEM vehicles integrated with Coil Driver technology.

EXRO TECHNOLOGIES INC

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