Eos Energy preliminary Q1 revenue $6.6M; backlog $602.7M; tax credit monetization

Eos Energy Enterprises, Inc.

Preliminary Q1 revenue ~$6.6M; ending cash $31.8M; orders backlog $602.7M as of March 31, 2024.
Expects 5-10% gross margin improvement QoQ as Z3 production scales; shipped over 110 Z3 cubes since Sept 2023.
Closed $2.3M cash from 2023 production tax credit monetization at 10% discount; DOE loan progress continues.
State-of-the-art manufacturing line installation on track for Q2 2024; target 1.25 GWh annual capacity.
Over 65% of shipped cubes installed awaiting commissioning; cumulative discharged energy ~2.6 GWh.

item 2.02 item 7.01 item 8.01 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

Eos Energy Enterprises, Inc. reported first quarter ended March 31, 2024 results: revenue approximately $6.6 million.

Period: first quarter ended March 31, 2024
Revenue: approximately $6.6 million
Result: preliminary results

Exact text from the filing

Eos expects to record revenue of approximately $6.6 million for the first quarter, as the Company completed shipments of its first Texas project owned by a large North American infrastructure fund.

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Source: SEC EDGAR

accession 0001805077-24-000029

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