Eos Energy Q2 prelim rev $0.2M, cash $23.2M; DOE loan decision pending; defends customer backlog

Eos Energy Enterprises, Inc.

Preliminary Q2 revenue of $0.2M as manufacturing transitions to Eos Z3 battery; cash balance $23.2M.
Gross margin expected to improve 20%-50% over prior quarter; booked orders $86.9M in H1 2023.
DOE LPO Title XVII loan process ongoing; conditional approval decision delayed by May 2023 Interim Final Rule.
Reaffirms customer commitments: IEP project to break ground soon; Bridgelink (45% of backlog) reconfirmed commitment.
CFO Nathan Kroeker granted 40,000 RSUs contingent on performance milestone and continued employment.

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Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Eos Energy Enterprises, Inc. reported second quarter ended June 30, 2023 results: revenue $0.2 million.

Period: second quarter ended June 30, 2023
Revenue: $0.2 million
Result: preliminary results

Exact text from the filing

or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced that it expects to record revenue of $0.2 million for the quarter ended June 30, 2023, as the Company transitions manufacturing to the Eos Z3TM battery, with expected second quarter gross margin to improve by 20% to 50% over the

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Source: SEC EDGAR

accession 0001805077-23-000027

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