ESS Tech reports record FY 2023 revenue of $7.5M, lowers Q4 adj. EBITDA loss >50% YoY

ESS Tech, Inc.

Q4 & FY 2023 revenue: $7.5M (record); cash & short-term investments >$100M exiting 2023.
Q4 adjusted EBITDA loss cut by more than half YoY; EW manufacturing cost reduced ~60% in 2023.
Delivered first Energy Warehouses to Honeywell; first Energy Center lifted, slated for PGE in 2024.
Guides 40% EW cost reduction in 2024 to achieve non-GAAP gross margin profitability.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ESS Tech, Inc. reported fourth quarter and full year ended December 31, 2023 results: revenue $7.5M for FY 2023.

Period: fourth quarter and full year ended December 31, 2023
Revenue: $7.5M for FY 2023
Result: reported results

Exact text from the filing

ESS Tech, Inc. (“ESS,” “ESS, Inc.” or the “Company”) (NYSE:GWH), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced financial results for its fourth quarter and full year ended December 31, 2023.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

ESS Tech, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-010886

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