ESS Tech generated $599K in revenue in Q1 2025, reflecting lower sales activity during its transition period. The company posted a net loss of $18M and an operating loss of $18.1M, with a sharp drop in cash reserves. Despite near-term financial challenges, commercial momentum for its Energy Base platform has gained traction.
Revenue declined to $599K, down from $2.7M in Q1 2024, reflecting a slowdown in deliveries.
Net loss was $18M as the company continues investing in its Energy Base strategy.
Operating cash outflow totaled $18.2M, with cash and equivalents dropping to $8.4M.
Received a 50 MWh project award and logged proposal activity totaling ~1.2 GWh tied to Energy Base product.
ESS is focused on cost control, strategic pivots, and capital-raising while seeing rising commercial engagement with its new Energy Base product.
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