Eos Energy Q3 2021 Earnings Report
Key Takeaways
Eos Energy Enterprises reported $0.7 million in revenue for Q3 2021. The company booked orders of $137.4 million year-to-date, resulting in a backlog of $151.8 million as of November 10, 2021. They are updating their guidance for booked orders at year-end to a range of $175 million to $300 million.
Booked orders of $137.4 million year-to-date resulting in backlog of $151.8 million, as of November 10, 2021
$3.4 million in product shipped, as of November 10, 2021
Announced a $25 million equipment financing agreement with Trinity Capital to enhance manufacturing operations and further scale production
Announced a commitment from Blue Ridge Power to purchase 300 MWh of energy storage systems over the next two years for projects developed by Pine Gate Renewables
Eos Energy
Eos Energy
Forward Guidance
Eos expects to continue to focus on building 2022+ orders backlog, initiate CE mark (Europe) testing, ISO certifications, UL 9540, expand manufacturing capacity to 800 MWh and finalize Gen 3.0 (Z3) product design and production plan. They reiterate $5 million in expected 2021 shipments and revenue recognized and provides a range for booked orders from $175 million to $300 million as of December 31, 2021
Positive Outlook
- Focus on building 2022+ orders backlog
- Initiate CE mark (Europe) testing
- Initiate ISO certifications
- Initiate UL 9540
- Expand manufacturing capacity to 800 MWh