SPI Energy Co., Ltd. (NASDAQ:SPI) Q4 2022 Earnings Conference Call April 18, 2023 4:30 PM ET

Company Participants

Denton Peng - Chairman and Chief Executive Officer

Hoong Khoeng Cheong - Chief Operating Officer

George Milionis - Chief Legal Officer

Conference Call Participants

Tate Sullivan - Maxim Group

Tim Moore - EF Hutton

Operator

Good afternoon, and welcome to SPI Energy's Fiscal Year 2022 Conference Call. As a reminder, this call is being recorded and all participants are in a listen-only mode. The call will be open for questions-and-answer following the presentation. On today's call are SPI Energy's Chairman and CEO, Denton Peng; COO, H. K. Cheong; and George Milionis.

Before we begin, the company would like to remind everyone that various remarks about future expectations, plans and prospects constitute forward-looking statements for purposes of Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. SPI cautions that these forward-looking statements are subject to risks and uncertainties that may cause their actual results to differ materially from those indicated, including risks described in the company's filings with the SEC. Any forward-looking statements made on this conference call speak only as of today’s date, today Tuesday, April 18, 2023 and SPI does not intend to update any of these forward-looking statements to reflect events or circumstances that occur after today.

I'll now pass the call over to Denton Peng, Chairman and CEO. Mr. Peng?

Denton Peng

Thank you, Shermdi [ph]. Thank you to everyone for joining us today on our fiscal year 2022 earnings call. We are placed to report we exceeded the top end of our guidance in 2022, generating of $177.5 million in revenue, up nearly 10% over fiscal year 2021. We are referring previous issued guidance with the revenue expected in the range of $250 million to $300 million in the year 2023. And with near term expedition for positive EBITDA and net profitability, we are confident that we will deliver between $29 million and $36 million net income for the fiscal year 2023.

This monumental milestone for SPI made possible by years of hard work for our teams who have been instrumental in helping to building our renewable energy company platforms. This achievement is even more significant when considering our continued investment in our EV and solar wafer manufacturing business in U.S., which are expected to further accelerate our overall growth in the quarters ahead as we strive to meet rapid growth growing demands. Thanks to the Inflation Reduction Act passed last year, rapid growing industrial tailwind also give that our proud world class team with multi-decade proven record of success have been built the strong foundation, particularly our American make solar -- American brand module and SEM Wafertech manufacturing business will place us in a great position to rapid increase market share across each of our business units, ultimately enable us to unlock new value for our shareholders as we started growth in the quarters heads.