Eos Energy reported Q2 2024 revenue of $0.9M, up 261% YoY, while focusing on transitioning to state-of-the-art manufacturing line and finalizing Cerberus investment. Cost of goods sold increased 26% to $14.1M due to commissioning costs. The company maintained a cash balance of $52.5M and reduced debt by terminating a $100M loan for $27M, resulting in a $68.5M gain.The company secured a strategic investment of up to $315.5M from Cerberus Capital Management, structured as a $210.5M term loan and $105M revolver. This partnership aims to scale production capacity to 1.25 GWh annually through the newly commissioned manufacturing line, with potential expansion to 2 GWh. The commercial pipeline reached $13.8B with an orders backlog of $586.8M.Management reaffirmed 2024 guidance of $60-90M in revenue and expects positive contribution margins before year-end. The company also successfully monetized production tax credits, receiving $3.4M in cash from selling 2023 and Q1 2024 credits at a 10% discount.

Eos Energy reported Q2 2024 revenue of $0.9M, up 261% YoY, while focusing on transitioning to state-of-the-art manufacturing line and finalizing Cerberus investment. Cost of goods sold increased 26% to $14.1M due to commissioning costs. The company maintained a cash balance of $52.5M and reduced debt by terminating a $100M loan for $27M, resulting in a $68.5M gain.The company secured a strategic investment of up to $315.5M from Cerberus Capital Management, structured as a $210.5M term loan and $105M revolver. This partnership aims to scale production capacity to 1.25 GWh annually through the newly commissioned manufacturing line, with potential expansion to 2 GWh. The commercial pipeline reached $13.8B with an orders backlog of $586.8M.Management reaffirmed 2024 guidance of $60-90M in revenue and expects positive contribution margins before year-end. The company also successfully monetized production tax credits, receiving $3.4M in cash from selling 2023 and Q1 2024 credits at a 10% discount.