Business
Eos Energy Enterprises Records Highest Quarterly Revenue and Reports First Quarter 2025 Financial Results and Reaffirms 2025 Outlook
$10.5 million quarterly revenue, highest in Company history as production ramps to deliver customer backlog Year-to-date shipments surpass full-year 2024
About this update from Eos Energy Enterprises, Inc.
[{"type":"text","content":"$10.5 million quarterly revenue, highest in Company history as production ramps to deliver customer backlog Year-to-date shipments surpass full-year 2024 customer shipments with seven Z3 projects under installation and commissioningSuccessfully achieved 15 out of 16 total Cerberus performance milestones, with a no-penalty extension granted by Cerberus for the remaining cash receipt milestone through July 31, 2025Completed Site Acceptance Testing on first terminal sub-assembly manufacturing cell; now manufacturing production parts Entered into an MOU with Trip Ventures for a 400 MWh utility scale energy storage project in Puerto Rico with an executable order pending final governmental NEPA reviewSigned a 5 GWh MOU with Frontier Power for United Kingdom Long Duration Energy Storage cap and floor scheme along with other international markets Recently secured a small microgrid order for two schools in Florida with a large, regulated utilityReaffirms 2025 full-year revenue guidance range of $150 million – $190 million EDISON, N.J., May 06, 2025 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), America’s leading innovator in designing, manufacturing, and providing zinc-based long duration energy storage (LDES) systems sourced and manufactured in the United States, today announced its financial results for the first quarter ended March 31, 2025. First Quarter Highlights Revenue totaled $10.5 million, a 58% increase compared to the prior year and a 44% increase compared to the prior quarter, driven by increased customer deliveries.Gross loss of $24.5 million, a 93-point margin improvement from the prior year, on increased production volumes and lower Z3 product costs.Operating expenses totaled $28.4 million, a 46% increase compared to prior year, with 26% of the total representing non-cash items. Non-cash items accounted for 48% of the increase such as stock compensation, depreciation, and loss from PP&E write-down, while the remaining 52% of the increase was driven by headcount growth across key business areas to support the Company’s scaling efforts.Net income attributable to shareholders of $15.1 million, largely driven by non-cash change in fair value tied to mark-to-market adjustments related to the Company’s stock price as of March 31, 2025.Adjusted EBITDA loss of $43.2 million, showing a 14...