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    Graham Price

    Vice President and Equity Research Analyst at Raymond James

    Graham Price is a Vice President and Equity Research Analyst at Raymond James, specializing in coverage of the U.S. solar and alternative energy sector. He covers companies such as SunPower and offers in-depth analysis on residential solar market dynamics, policy impacts, and sector resilience. Price has developed a strong track record for accurately assessing industry risks and opportunities, noted for his commentary on SunPower’s bankruptcy and the overall health of U.S. solar installation markets. Since joining Raymond James, he has become a notable voice in energy equities, bringing analytical rigor to his coverage and leveraging credentials likely including FINRA registration and relevant securities licenses.

    Graham Price's questions to FTC Solar (FTCI) leadership

    Graham Price's questions to FTC Solar (FTCI) leadership • Q3 2024

    Question

    Graham Price of Raymond James asked for confirmation on the breakeven revenue range, the expected cadence of revenue recognition in 2025, and details on the Strata supply agreement, including potential 1P cross-selling opportunities.

    Answer

    CFO Cathy Behnen confirmed that the breakeven revenue target remains in the $50 million to $60 million range, with similar margins for both 1P and 2P products. CEO Yann Brandt stated that approximately 60% of the current signed backlog is expected to convert to revenue in 2025. Regarding the Strata agreement, Brandt clarified it is currently for 2P trackers but sees significant future opportunities to cross-sell their 1P solutions, as the two products serve different project site requirements.

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    Graham Price's questions to Emeren Group (SOL) leadership

    Graham Price's questions to Emeren Group (SOL) leadership • Q2 2024

    Question

    Graham Price of Roth MKM inquired about the reasons for the 1.3 GW downward revision of the early-stage project pipeline in Spain and asked for clarification on the Development Service Agreement (DSA) sales forecast, specifically the quarterly cadence for the second half and the valuation difference between contracted and negotiated DSA portfolios.

    Answer

    CEO Yumin Liu explained that the Spain pipeline was reduced due to government approval challenges, prompting a strategic decision to cancel or slow down projects to manage risk. CFO Ke Chen stated the $20 million in H2 2024 DSA revenue is expected to be evenly split between Q3 and Q4. Yumin Liu added that the higher valuation for the negotiated DSA pipeline ($100M for 2 GW) versus the contracted one ($60M for 2 GW) is because the negotiated deals are global, include more valuable mid-stage projects, and cover both solar and storage assets, unlike the existing, primarily early-stage Italian contracts.

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    Graham Price's questions to Ads-Tec Energy Public Ltd (ADSE) leadership

    Graham Price's questions to Ads-Tec Energy Public Ltd (ADSE) leadership • Q2 2022

    Question

    Graham Price from Raymond James asked for a full-year 2022 gross margin forecast, the impact of German EV sales on infrastructure build-out, and whether demand was accelerating in Eastern Europe.

    Answer

    CFO Wolfgang Breme stated that while gross margin should turn positive in H2 2022 after supply chain redesigns, it was too early to provide a specific full-year figure due to ongoing uncertainty. CEO Thomas Speidel added that they see no slowdown in infrastructure demand; in fact, high energy prices are accelerating the build-out. He also noted no specific acceleration in demand from Eastern Europe compared to other European countries.

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