ESS Tech Earnings Reports

In Q4 2024, ESS Tech generated $2.85 million in total revenue, including $49,000 from related parties. The company reported a significant gross loss of $13.19 million due to high production costs and ended the quarter with a net loss of $23.48 million. Despite the losses, ESS achieved breakeven profitability on its latest Energy Center design and announced its next-generation Energy Base product.

ESS Tech reported its Q3 2024 financial results, highlighting progress on key operational initiatives but facing revenue ramp delays due to funding completion delays with their Australian partner. They are optimistic about achieving $9 to $11 million in revenue for the year.

ESS Tech announced financial results for the second quarter ended June 30, 2024. The company is finalizing a funding agreement for up to $50 million with the Export-Import Bank of the United States and began production of its second Energy Center for Portland General Electric. An Energy Warehouse also became the first operational long-duration energy storage at an airport. They exited Q2 with cash and short-term investments over $74 Million.

ESS Tech, Inc. reported Q1 2024 revenue of $2.7 million, a seven-fold increase year-over-year. The company partnered with Sapele Power to supply LDES in Africa and completed testing of its first Energy Center for Portland General Electric. They exited Q1 with over $89 million in cash and short-term investments.

ESS Tech, Inc. reported its Q4 and full year 2023 financial results, highlighting progress in securing partnerships, optimizing operations, and reducing production costs. The company delivered its first Energy Warehouses to Honeywell, lowered Energy Warehouse manufacturing costs by 60% in 2023, and aims for a further 40% cost reduction in 2024. Despite customer-related delays impacting financial results, ESS exited the year with over $100 million in cash and short-term investments.

ESS Tech, Inc. reported a year-to-date revenue increase of nearly 700% compared to last year, reaching $4.7 million. The company commissioned units at existing customer sites, strengthened its balance sheet through a strategic collaboration with Honeywell, and broadened customer traction. They anticipate a material increase in revenue in the fourth quarter, expecting to reach $9 million in revenue for the full year.

ESS Tech, Inc. reported record revenue of $2.8 million in Q2 2023, driven by significant improvements in internal operations and manufacturing efficiency. The company delivered nine Energy Warehouses to four new customers and entered into a strategic partnership with LEAG.

ESS Tech announced Q1 2023 financial results, reporting revenue of $372 thousand. The company built nine Energy Warehouses and faced challenges including project delays that affected shipments and revenue recognition. They are confident that this timing issue will be resolved.

ESS Tech, Inc. reported its Q4 and full year 2022 financial results, highlighting a transformative year with landmark deals and significant progress in team building and manufacturing operations. The company achieved nearly 800 MWhs of annual capacity by year end and delivered a record 14 Energy Warehouses in the fourth quarter.

ESS Tech, Inc. reported revenue of $189 thousand in the third quarter of 2022. The company is focused on increasing production capacity and operational efficiency, including automating their manufacturing line and reducing labor input. They also announced a significant deal with SMUD to supply up to 2 GWh of energy storage over the next five years.

ESS Tech, Inc. reported revenue of $686 thousand in Q2 2022, marking a significant milestone. The company also secured a partnership with Energy Storage Industries Asia Pacific and a deal with Tampa Electric Company.

ESS Tech announced its Q1 2022 financial results, highlighting progress in diversifying supplier partnerships and managing costs. The company is on track to ship 40 to 50 Energy Warehouses this year and continues to ramp up manufacturing operations. Despite revenue recognition challenges, the company remains optimistic due to a robust pipeline and backlog.

ESS Tech, Inc. reported fourth-quarter results, highlighting the shipment of first commercial units and full customer acceptance at one project. The company faced supply chain challenges, impacting revenue recognition in the quarter. Despite these headwinds, ESS secured new contracts and focused on maximizing production capabilities while managing costs.

ESS Tech announced financial results for the third quarter of 2021, highlighting progress in production, shipments, and operational expansion, including securing additional manufacturing space and a significant increase in company headcount.