On August 6, 2024, Eos Energy Enterprises, Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol EOSE, filed a Form 8-K report with the SEC, announcing its financial results for the second quarter ended June 30, 2024. The company reported a significant increase in revenue, totaling $0.9 million, which is 261% higher than the same period in the previous year. This increase was attributed to higher component and commissioning revenues. Despite the revenue growth, the company experienced a net loss attributable to shareholders of $28.172 million, with a comprehensive loss attributable to common shareholders of $51.842 million for the quarter. Eos Energy also highlighted the successful commissioning of its state-of-the-art manufacturing line and a strategic investment of up to $315.5 million...Show More

On August 6, 2024, Eos Energy Enterprises, Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol EOSE, filed a Form 8-K report with the SEC, announcing its financial results for the second quarter ended June 30, 2024. The company reported a significant increase in revenue, totaling $0.9 million, which is 261% higher than the same period in the previous year. This increase was attributed to higher component and commissioning revenues. Despite the revenue growth, the company experienced a net loss attributable to shareholders of $28.172 million, with a comprehensive loss attributable to common shareholders of $51.842 million for the quarter. Eos Energy also highlighted the successful commissioning of its state-of-the-art manufacturing line and a strategic investment of up to $315.5 million from Cerberus Capital Management LP. The investment is structured as a delayed draw term loan and a revolver, which has allowed Eos to retire its existing $100 million senior secured term loan on favorable terms. The company's commercial opportunity pipeline has increased to $13.8 billion, with an orders backlog of $586.8 million. Eos reaffirmed its 2024 outlook, expecting to recognize $60 million to $90 million in revenue and achieve positive contribution margin by year-end. The company also announced an expansion of its agreement with Indian Energy, adding 25 MWh of storage to an existing order, and a 960 MWh Letter of Intent with a solar plus storage integrator post-quarter. Eos Energy's CEO, Joe Mastrangelo, expressed confidence in the company's operational momentum and its ability to meet the growing demand for safe, domestic, and commercialized battery technologies.