Eos Energy Enterprises Reports Preliminary Q3 Revenue Of $82M To $83M, Representing ~19% To 21% Sequential Growth And ~169% To 172% YoY Growth

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 preliminary financial results for the third quarter ended September 30, 2026.  

Based on preliminary financial information, Eos currently expects:

• Revenue of $82 to $83 million, representing approximately 19% to 21% sequential growth and approximately 169% to 172% year-over-year growth. Shipments increased approximately 23% quarter over quarter, supported by continued production scaling at the Company's second manufacturing line at its Thorn Hill facility. During the quarter, Line 2 contributed approximately 17% of total battery production and exited the quarter with first-pass yield aligned to Line 1 performance. The line continued to operate on a partial-shift schedule at Thorn Hill as the Company progressed the hiring, onboarding, and training of additional employees to support production growth and full-shift operations.
   
• GAAP gross margin of (55)% to (53)%, representing an improvement of approximately 16 to 18 percentage points compared to the second quarter of 2026, driven by higher production volumes and lower conversion costs per unit. Eos achieved its eighth consecutive quarter of gross margin improvement. As the Company continues staffing and training employees to support additional shifts on Line 2 at Thorn Hill, Eos expects further margin expansion from higher production volumes, higher capacity utilization, consolidation into one footprint, and ongoing material cost-reduction initiatives.
   
• Total cash, including restricted cash, was approximately $344 million as of September 30, 2026, compared to $364 million as of June 30, 2026. Quarter-end cash was supported by approximately $114 million of operating cash inflows driven primarily by customer deposits, project milestone receipts, and tax credit collections, as well as an additional $87 million advance under the DOE loan facility. Capital expenditures totaled approximately $35 million, primarily related to completion of Line 2 automation.
   
• Backlog of approximately $765 million as of September 30, 2026, representing approximately 3.2 GWh, after revenue recognized during the quarter and new orders booked. During the quarter, six purchase orders were received from six different customers, including a previously announced $100 million order under an existing capacity reservation agreement, which did not contribute to quarter-over-quarter backlog growth. Commercial traction continued across the defense, commercial & industrial (C&I), and data center markets. During the quarter, Eos announced key projects supporting the Golden Dome initiative for mission-critical defense applications and, alongside MN8, a project with Google, highlighting the growing demand for long-duration energy storage systems in data center applications.