Eos Energy Q1 revenue up 168% YoY to $8.8M; unit cost down 25%

Eos Energy Enterprises, Inc.

2023-Q1 EPS reported -$0.82 revenue$8,835,000

Revenue $8.8M vs $3.3M in Q1 2022 (+168%); cost of goods sold $26.9M, down 24%.
Product unit cost reduced 25% year-over-year; operating expenses flat at $19.4M.
Cash balance $16.1M at March 31; completed $40M capital raise on April 14 for factory automation.
Order backlog $535.1M, up >2.5x vs Q1 2022; booked $86.3M in orders in Q1.
Completed due diligence for DOE Title XVII loan; negotiating term sheet with Loan Program Office.

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 0.95

Eos Energy Enterprises, Inc. reported first quarter ended March 31, 2023 results: revenue $8.8 million.

Period: first quarter ended March 31, 2023
Revenue: $8.8 million
Result: reported results

Exact text from the filing

sustainable zinc-based long duration energy storage systems, today announced financial results for the first quarter ended March 31, 2023. First Quarter Financial Highlights † $8.8 million revenue, compared to $3.3 million in 1Q 2022, a 168% increase year-over-year. † Cost of Goods Sold of $26.9 million, a decrease of 24% compared to 1Q 2022, representing a 25%

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Source: SEC EDGAR

accession 0001805077-23-000014

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