ESS Tech guides FY2024 revenue $9-11M; delays in Q3 revenue recognition; secures $20M EXIM loan

ESS Tech, Inc.

2024-Q3 EPS reported -$5.35 revenue$3,445,000

Revenue guidance for full year 2024 of $9-11 million, implying meaningful year-on-year growth.
Q3 revenue recognition delayed due to funding delays from Australian partner; units now shipping in Q4.
Second Energy Center for Portland General Electric built, in testing; first EC operating with high reliability.
Executed $20M tranche of $50M EXIM loan (long-term, low-interest, non-dilutive) for manufacturing expansion.
Completed 1-for-15 reverse stock split in August to regain NYSE compliance.

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