Washington, D.C. 20549









For the month of September 2022

Commission File Number: 001-41226



Tritium DCFC Limited

(Translation of registrant’s name into English)



48 Miller Street

Murarrie, QLD 4172


+61 (07) 3147 8500

(Address of principal executive office)



Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐




On September 22, 2022, Tritium DCFC Limited (the “Company”) released information regarding its results of operations for the fiscal year ended June 30, 2022. A copy of the Company’s press release is furnished hereto as Exhibit 99.1.    





99.1    Press Release issued by Tritium DCFC Limited on September 22, 2022, titled “Tritium Reports Full Fiscal Year 2022 Financial Results.”


Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


    Tritium DCFC Limited
Date: September 22, 2022     By:  

/s/ Jane Hunter

      Jane Hunter
      Chief Executive Officer

Exhibit 99.1

Tritium Reports Full Fiscal Year 2022 Financial Results with Record Sales Orders, Revenue, and Backlog; Company Details Successful Tennessee Factory Launch and Capital Raise



Achieved record fiscal year sales orders of $203 million, an increase year-over-year of 232%, and ended the June 30, 2022 fiscal year with a record backlog of $149 million1 as customer demand grew strongly across all of the Company’s geographies



Reported record revenue of $86 million for fiscal year ended June 30, 2022, representing a 53% increase year-over-year



Started production at the Company’s new 120,000 square foot Tennessee factory in July 2022, a critical milestone towards supporting future growth



Announced a $150 million three-year lending facility with the support of longstanding lending partners and a $75 million committed equity facility

BRISBANE, Australia, September 22, 2022 – Tritium DCFC Limited (Nasdaq: DCFC) (“Tritium” or the “Company”), a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced record sales orders, revenue, and backlog for any calendar year or fiscal year in its history.

Tritium today announced financial results for its fiscal year ended June 30, 2022:



Sales orders: $203 million



Backlog: $149 million



Revenue: $86 million



Margin: -0.4% gross margin



Comprehensive loss: $120 million (inclusive of one-time stock-based compensation and listing costs)



Cash and cash equivalents: $70 million

“Over $200 million of sales orders in a twelve-month period is an incredible validation of Tritium’s technology and category leadership, and significantly outpaces total sales orders in prior fiscal years. This is a testament to remarkable work from our employees, and a signal of the velocity now emerging across the global fast charger category as we look to 2023 and 2024,” said Tritium CEO Jane Hunter. “Our customers are now implementing multi-year investment strategies to build networks of fast charging infrastructure in our primary target geographies of the United States, Europe, Australia, and New Zealand. We are pleased to begin the 2023 fiscal year with a record contracted backlog that is currently in the process of being fulfilled as our Tennessee facility ramps-up its production capacity, in-line with our operating plan.”


1 Tritium reports sales and backlog based only on executed and contracted purchase orders; does not include anticipated, expected, or potential volumes from memorandums of understanding (MOUs) or customer indications

Fiscal year 2022 saw an escalating level of sales activity across all of Tritium’s geographies, with strong demand from existing and new customers. Tritium is actively expanding factory capacity, bolstering supply chain, and improving production yields. For the fiscal year ended June 30, 2022, Tritium’s footprint grew to more than 11,000 fast charger connectors around the world.

In support of this accelerating growth, the Company officially opened its new Tennessee factory on August 23, 2022. The factory, which came online in approximately five months, is planned to increase production capacity over the course of calendar year 2023, with an ultimate target capacity of up to 30,000 fast charger units per year, for delivery throughout the Americas and Europe. Tritium expects the Tennessee factory to reach a production capacity of 6,000 charger units per year by December 2022 and plans to scale to 28,000 units of production capacity by December 2023.

Tritium is now producing its modular fast chargers at the Tennessee factory. These DC fast chargers are compatible with all EVs, compact, reliable, IP65-rated, and cost effective, and are expected to be eligible for EV charging tax credits offered under the Inflation Reduction Act (“IRA”). Tritium’s modular fast chargers are also expected to meet Federal Highway Administration (“FHWA”) Buy America Act standards in 2023, making them eligible for the $5 billion in National Electric Vehicle Infrastructure (“NEVI”) Formula Program funding, including the first wave of $900 million recently approved by President Biden. Tritium is already in discussions with several customers who are targeting NEVI Program disbursements. In addition to NEVI, the Bipartisan Infrastructure Law provides $2.5 billion in discretionary grant programs for which Tritium expects its products will be eligible.

“Tritium’s Tennessee factory will create a step change in throughput for the Company. The facility, which spans 120,000 square feet, was designed to be capable of producing up to six times more product than Tritium’s prior global manufacturing footprint, and is one of the largest EV fast charger factories in the United States,” said Rob Topol, who will be transitioning into the role of CFO following the filing of the Company’s Form 20-F. “Of particular importance, the Tennessee facility is expected to provide the Company with significant economies of scale in 2023. This scale — combined with improved manufacturing processes, reduced freight costs through a combination of delivery via truck instead of sea freight for North American customers and significantly shorter shipping routes to Europe, as well as onboarding local suppliers closer to the manufacturing process, component volume discounts, the expected easing of component shortages over the course of 2023, and faster to assemble modular chargers — is key in our plans to further increase gross margin above the 300 basis point improvement achieved year-over-year.”

Despite the Company’s Tennessee factory being completed in just five months from lease commencement, its production volumes are approximately six weeks behind schedule due to the challenges experienced by electronics manufacturing businesses globally, principally related to supply chain and recruitment delays. This delay in production is expected to shift approximately six weeks of projected 2022 revenue, or approximately $45 million, into calendar year 2023, resulting in expected calendar year 2022 revenue of approximately $125 million. Importantly, this revenue is expected to be realized in the first quarter of calendar year 2023.

As previously announced, Tritium refinanced its existing $90 million credit facility with a three-year $150 million facility led by its longstanding lenders, Cigna Investments, Inc. and Barings LLC. Further, the Company entered into a committed equity facility of up to $75 million with B. Riley Financial, Inc., which the Company expects to access depending on market conditions. These financings will be used for general corporate purposes and working capital investments principally tied to the inventory ramp-up required to meet significantly increased sales orders, and the expansion of the Tennessee factory.

Earnings Conference Call Information

The Tritium management team will host a conference call to discuss the Company’s full fiscal year 2022 results on Thursday, September 22, 2022, at 4:30 p.m. Eastern time. The call can be accessed via a live webcast accessible on the Events page in the Investor Relations section of Tritium’s website at investors.tritiumcharging.com. An archive of the webcast will be available on the website after the call.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

Tritium continues to qualify as a Foreign Private Issuer (“FPI”) as defined by Rule 405 of Regulation C under the Securities Act and Rule 3b-4 under the Exchange Act. As such, the Company will file its next period financial results via its Form 6-K for the six-month period ending December 31, 2022, in early 2023.

For more information, visit tritiumcharging.com

Presentation of Information

Unless otherwise indicated, references to a particular “fiscal year” are to our fiscal year ended June 30 of that year. References to a year other than a “fiscal” or “fiscal year” are to the calendar year ended December 31.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, also known as the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact and generally relate to future events, hopes, intentions, strategies, or performance may be deemed to be forward-looking statements. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “might,” “possible,” “believe,” “predict,” “potential,” “continue,” “aim,” “strive,” and similar expressions may identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expressed or implied forwarding-looking statements, including, but not limited to: our history of losses; the ability to successfully manage our growth; the adoption and demand for electronic vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; the accuracy of our forecasts and projections including those regarding our market opportunity; competition; our ability to secure financing; delays in our manufacturing plans; losses or disruptions in supply or manufacturing partners; risks related to our technology, intellectual property and infrastructure; exemptions to certain U.S. securities laws as a result of our status as a foreign private issuer; and other important factors

discussed under the caption “Risk Factors” in the Company’s prospectus filed pursuant to Rule 424(b)(3) filed with the Securities and Exchange Commission (the “SEC”) on August 30, 2022, as such factors may be updated from time to time in the Company’s other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Company’s website at https://investors.tritiumcharging.com/. Any investors should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC as most of the factors are outside the Company’s control and are difficult to predict. As a result, the Company’s actual results may differ from its expectations, estimates and projections and consequently, such forward-looking statements should not be relied upon as predictions of future events. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as to management expectations and beliefs as of the date they are made. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

No Offer

This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s securities. There will be no sale of the Company’s securities in any jurisdiction in which one would be unlawful.

Consolidated Statements of Operations and Comprehensive Loss

For the years ended June 30, 2022, 2021, and 2020


     Year Ended
June 30, 2022
    Year Ended
June 30, 2021
    Year Ended
June 30, 2020



Service and maintenance revenue – external parties

     4,989       2,594       5,489  

Service and maintenance revenue – related parties

     —         1       2  

Hardware revenue – external parties

     69,243       32,299       34,095  

Hardware revenue – related parties

     11,589       21,263       7,383  










Total revenue

     85,821       56,157       46,969  










Cost of goods sold


Service and maintenance—costs of goods sold

     (3,778     (2,873     (2,138

Hardware – cost of goods sold

     (82,383     (55,188     (45,805

Total cost of goods sold

     (86,161     (58,061     (47,943

Selling, general and administration expense

     (74,323     (31,624     (23,615

Product development expense

     (14,031     (10,521     (9,548

Foreign exchange gain/(loss)

     (4,208     (1,436     (231










Total operating costs and expenses

     (92,562     (43,581     (33,394










Loss from operations

     (92,902     (45,485     (34,368










Other income (expense), net


Finance costs

     (18,136     (8,795     (1,509

Transaction and offering related fees

     (6,783     (4,794     —    

Fair value movements—derivatives and warrants

     (9,782     (5,947     —    

Other income

     61       1,940       1,433  










Total other expenses and other income

     (34,640     (17,596     (76










(Loss) before income taxes

     (127,542     (63,081     (34,444










Income tax expense

     (20     (11     —    










Net (loss)

     (127,562     (63,092     (34,444










Net (loss) per common share


Net (loss) per common share attributable to common shareholders

     (127,562     (63,092     (34,444

Basic and diluted – common shares

     (1.01     (0.58     (0.33

Basic and diluted – C shares

     —         (0.58     (0.33

Weighted average shares outstanding


Basic and diluted – common shares

     126,814,171       99,915,563       97,565,239  

Basic and diluted – C shares

       8,047,417       8,047,417  

Comprehensive Loss


Net (loss)

     (127,562     (63,092     (34,444

Other comprehensive (loss) (net of tax)


Change in foreign currency translation adjustment

     7,336       (136     (600










Total other comprehensive (loss) (net of tax)

     7,336       (136     (600










Total comprehensive (loss)

     (120,226     (63,228     (35,044










Consolidated Statements of Financial Position

As of June 30, 2022 and 2021



As of

June 30, 2022



As of

June 30, 2021





Cash and cash equivalents

     70,753       6,157  

Accounts receivable - related parties

     16       2,991  

Accounts receivable - external parties

     30,816       11,318  

Accounts receivable - allowance for expected credit losses

     (275     (227


     55,706       36,430  

Prepaid expenses

     4,873       918  


     15,675       4,912  







Total current assets

     177,564       62,499  

Property, plant and equipment, net

     11,151       5,689  

Operating lease right of use assets, net

     24,640       18,312  


     —         1,350  

Total non-current assets

     35,791       25,351  







Total assets

     213,355       87,850  







Liabilities and Shareholders’ Deficit


Accounts Payable

     47,603       17,135  


     74       36,571  

Contract liabilities

     37,727       9,198  

Employee benefits

     2,653       2,037  

Other provisions

     27,623       5,349  

Obligations under operating leases

     4,020       2,941  

Financial instruments – derivative

     —         874  

Other current liabilities

     2,939       6,101  


     12,340       —    

Total current liabilities

     134,979       80,206  







Obligations under operating leases

     25,556       17,660  

Contract liabilities

     2,231       1,618  

Employee benefits

     217       125  

Borrowings net of unamortized issuance costs

     88,269       37,369  

Related party borrowings

     —         6,392  

Other provisions

     2,652       2,541  

Financial instruments - derivative

     —         5,947  

Other non-current liabilities

     —         —    







Total non-current liabilities

     118,925       71,652  







Total liabilities

     253,904       151,858  







Commitments and Contingent liabilities


Shareholders’ Deficit


Common stock, no par value, unlimited stock authorized at June 2022, 153,094,269 shares issued (107,806,361 legacy Tritium common shares as of June 2021); 148,893,898 shares outstanding as of June 2022 (99,915,561 legacy Tritium common shares as of June 2021)

     227,268       92,809  

Treasury shares, 4,200,371 as of June 30, 2022 (7,890,800 as of June 2021)

     —         —    

Legacy Tritium Class C shares, no par value, unlimited shares authorized at June 2021, 8,052,499 shares issued and outstanding as of June 2021 (Nil as of June 2022)

     —         4,383  

Additional paid in capital

     19,210       5,601  

Accumulated other comprehensive income (loss)

     3,640       -3,696  

Accumulated deficit

     (290,667     (163,105

Total Shareholders’ deficit

     (40,549     (64,008







Total Liabilities, and Shareholders’ deficit

     213,355       87,850  







Consolidated Statements of Cash Flows

For the years ended June 30, 2022, 2021, and 2020


     Year Ended
June 30, 2022
    Year Ended
June 30, 2021
    Year Ended
June 30, 2020

Cash flows from operating activities


Net loss

     (127,562     (63,092     (34,444

Reconciliation of net loss to net cash used in operating activities


Share-based compensation expense

     28,188       8,371       —    

Foreign exchange gains or losses

     —         1,436       213  

Depreciation expense

     2,198       2,312       1,309  

Borrowing costs

     1,518       —         725  

Fair value movements – derivatives and warrants

     9,782       5,947       —    

Adjustment for capitalized interest

     12,761       8,559       —    

Changes in operating assets and liabilities


Accounts receivable

     (16,475     (1,063     (4,755


     (19,276     (8,771     (2,455

Accounts payable

     3,263       6,619       (1,085

Employee benefits

     708       720       507  

Other liabilities

     37,020       9,069       1,800  

Other assets

     (18,965     (2,567     (2,269










Net cash used in operating activities

     (86,840     (32,460     (40,436










Cash flows from investing activities


Payments for property, plant and equipment

     (7,023     (2,572     (1,309










Net cash used in investing activities

     (7,023     (2,572     (1,309










Cash flows from financing activities


Proceeds from issuance of Common Stock in the Business Combination

     53,182       —         —    

Transaction costs paid

     (3,808     —         —    

Proceeds from the exercise of warrants

     26,572       —         —    

Proceeds from issuance of Common Stock pursuant to the PIPE Financing

     15,000       —         —    

Proceeds from issuance of Common Stock pursuant to the Option Agreements

     45,000       —         —    

Proceeds from issuance of legacy Tritium ordinary shares

     —         —         23,677  

Proceeds from borrowings – external parties

     117,527       —         33,029  

Proceeds from borrowings – related parties

     —         —         5,150  

Proceeds from convertible notes including derivative

     —         33,367       —    

Transaction costs for borrowings

     (3,888     —         (1,162

Repayment of borrowings—external parties

     (77,351     —         (12,392

Repayment of borrowings—related parties

     (6,414     —         —    

Waiver of related party’s option to acquire Tritium

     (6,816     —         —    










Net cash provided by financing activities

     159,004       33,367       48,302  










Effects of exchange rate changes on cash and cash equivalents

     (545     120       (60

Net increase / (decrease) in cash and cash equivalents

     65,141       (1,665     6,557  

Cash and cash equivalents at the beginning of the period

     6,157       7,702       1,205  










Cash and cash equivalents end of the period

     70,753       6,157       7,702  











Tritium Media Contact

Jack Ulrich


Tritium Investors Contact

Caldwell Bailey

ICR, Inc.