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Sep 30, 2024
ESS Tech Q3 2024 Earnings Report
Announced third quarter 2024 financial results and installed and commissioned second energy center.
Key Takeaways
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.
Executed credit agreement with the Export-Import Bank of the United States for the first $20 million tranche of a $50 million funding package.
Built and installed the second Energy Center for Portland General Electric, currently in testing with final hand-off expected in Q4.
Started building and expect to start shipping first commercial EC products in the fourth quarter of 2024.
Executed a 1-for-15 reverse split, bringing the Company back into compliance with NYSE listing requirements.
Revenue by Segment
Forward Guidance
Company expects to achieve $9 to $11 million in revenue for the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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