Eos Energy Q1 revenue $6.6M, down 25% YoY; reaffirms 2024 outlook; FAT completed

Eos Energy Enterprises, Inc.

2024-Q1 EPS reported -$0.23 revenue$6,601,000

Revenue $6.6M (-25% YoY); COGS $28.2M (+5%); operating expenses $19.5M (-3%); cash $31.8M.
Reaffirmed 2024 revenue outlook $60-90M; positive contribution margin expected in Q4 2024.
Successfully completed Factory Acceptance Testing on state-of-the-art line; Q2 commissioning on schedule.
Pipeline $13.3B (+56% YoY); backlog $602.7M (+13% YoY).
Expanded Pine Gate agreement with new MSA for 500 MWh of storage over five years.

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

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

Period: first quarter ended March 31, 2024
Revenue: $6.6 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

zinc-based long duration energy storage systems, today announced financial results for the first quarter ended March 31, 2024. First Quarter Highlights + Revenue totaled $6.6 million from its Z3 semi-automated manufacturing line, 25% lower than prior year period, driven by customer revenue recognition timing. + Cost of Goods Sold totaled $28.2 million, a 5%

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Source: SEC EDGAR

accession 0001805077-24-000049

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