Profire Energy (PFIE) 15th Annual Midwest IDEAS Investor Conference summary

Company milestones and market position

• Celebrated 10 years on NASDAQ and 16 years as a public company, with a strong balance sheet and expanding markets.

• Achieved record revenue of over $58 million in the last year, a 27% increase from the previous year.

• Holds approximately 85% market share in North American oil and gas burner management systems.

• Nearly 100,000 burner management solutions sold, mostly since 2010.

• Recognized as the preferred provider in the market, surpassing major competitors like Honeywell.

Business strategy and diversification

• Focused on legacy oil and gas business while diversifying into new industries such as petrochemical, power generation, biofuels, and industrial heating.

• Direct sales and expanded channel partnerships are driving entry into new markets.

• Diversification efforts began in 2021, with triple-digit growth in new markets in 2022 and strong prospects for 2024.

• Backlog in diversified areas now exceeds 40% of open sales orders.

• R&D investments are fueling new product development and market expansion.

Financial performance and shareholder value

• Q2 2024 was the second-best quarter in company history, with $15.2 million in revenue and service revenue at an all-time high.

• Maintains gross margins over 50%, EBITDA above 15%, and net margins over 10%.

• Trailing 12-month revenue is $53–54 million, with nearly $9 million in net income and $0.18 EPS.

• Strong cash position supports share buybacks and potential M&A; company remains debt-free.

• Trading at about 5.4x EBITDA, with 27% insider and 47% institutional ownership.