Eos Energy Q1 2022 Earnings Report
Key Takeaways
Eos Energy Enterprises reported $3.3 million in revenue, with a backlog of $212 million and a cash balance of $55 million as of March 31, 2022. The company achieved 65 MWh of annualized battery manufacturing capacity and reduced Energy Block bill of material cost by approximately 14% compared to year-end 2021.
Continued commercial pipeline growth; booked orders of $67 million year-to-date resulting in orders backlog of $212 million with a current opportunity pipeline of over $6 billion.
Achieved 65 MWh of a 550 MWh annualized battery manufacturing capacity expansion plan in two months.
$3.3 million in revenue from four customer projects, including first Energy Block deliveries for the 80 MWh Pine Gate Renewables’ Eastover Project.
Q1 ‘22 ending Energy Block bill of material cost reduced by approximately 14% vs year end 2021.
Eos Energy
Eos Energy
Forward Guidance
Eos is building a company ready to deliver safe, scalable, flexible, and affordable energy storage. The company's manufacturing capacity expansion is on plan, and they are seeing improved first-pass production yields.