Eos Energy Enterprises reported revenue of $15.6 million for 2024, slightly down from $16.4 million in 2023, as the company focused on transitioning to its new manufacturing line. Net loss widened to $685.9 million from $229.5 million, primarily due to non-cash items totaling $549.2 million including changes in fair value of warrants and derivatives. The company successfully closed strategic financing transactions including a $210.5 million facility from Cerberus and a DOE loan facility of up to $303.5 million.The company achieved several operational milestones in 2024, including beginning commercial production on its first state-of-the-art manufacturing line in June and securing key supply agreements with TETRA Technologies and SABIC. Customer momentum continued with new agreements including a 500 MWh deal with Pine Gate Renewables and a 400 MWh order...Show More

Eos Energy Enterprises reported revenue of $15.6 million for 2024, slightly down from $16.4 million in 2023, as the company focused on transitioning to its new manufacturing line. Net loss widened to $685.9 million from $229.5 million, primarily due to non-cash items totaling $549.2 million including changes in fair value of warrants and derivatives. The company successfully closed strategic financing transactions including a $210.5 million facility from Cerberus and a DOE loan facility of up to $303.5 million.The company achieved several operational milestones in 2024, including beginning commercial production on its first state-of-the-art manufacturing line in June and securing key supply agreements with TETRA Technologies and SABIC. Customer momentum continued with new agreements including a 500 MWh deal with Pine Gate Renewables and a 400 MWh order from International Electric Power. The Z3 battery transition progressed as planned, with the first automated line now in commercial production.Management secured significant capital to support growth plans through the Cerberus investment and DOE loan facility. The company ended 2024 with $74.3 million in unrestricted cash. While substantial doubt exists about the company's ability to continue as a going concern, management believes recent financing transactions have significantly improved its capital position and provide a path to sustainable operations, though additional capital may be required.