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• Revenue: $7.3 million for Q4 2024, 10% higher than the prior year.

• Full Year Revenue: $15.6 million, slightly decreased from $16.4 million in 2023.

• Orders Booked: $310.7 million for the year.

• Order Backlog: $682 million on 2.6 gigawatt hours of storage.

• Cash Position: $103 million at year-end.

• Net Loss: $268.1 million for Q4 2024, compared to $41.2 million in the prior year.

• Adjusted EBITDA Loss: $44.6 million for Q4 2024, compared to $37.2 million in the prior year.

• Gross Margin Improvement: Improved by 35 points over the prior year.

• Commercial Pipeline: $14.4 billion, reflecting a 9% year-over-year improvement.

• Projected Revenue Guidance for 2025: $150 million to $190 million.

• Warning! GuruFocus has detected 7 Warning Signs with EOSE.

Release Date: March 05, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Eos Energy Enterprises Inc (NASDAQ:EOSE) reported a strong commercial pipeline with a backlog approaching $700 million and over 2.5 gigawatt hours, positioning the company for future growth.

• The company exceeded its revised revenue guidance for 2024, demonstrating strong performance by the operating team.

• Eos Energy Enterprises Inc (NASDAQ:EOSE) has a significant cash position with $103 million in the bank, not including an additional $40.5 million from a recent loan draw.

• The company is scaling operations in a high-growth environment, with production records set in the first two months of 2025.

• Eos Energy Enterprises Inc (NASDAQ:EOSE) has a competitive advantage with its American-made product, which is compliant with energy security standards and offers a non-flammable, reliable solution.

Negative Points

• The company faced challenges with lower volume than anticipated in 2024, impacting financial results.

• Operating expenses increased by 52% in the fourth quarter compared to the prior year, driven by higher non-cash items and increased talent costs.

• Eos Energy Enterprises Inc (NASDAQ:EOSE) reported a net loss of $268.1 million for the fourth quarter, primarily due to changes in the fair value of derivatives.

• The company is operating in an uncertain regulatory environment, which could impact future growth and profitability.

• Despite improvements, the company still faces inefficiencies in manual subassembly and ongoing commissioning costs for legacy projects.

Q & A Highlights

Q: Can you provide insight into the potential revenue cadence for the year, considering the positive contribution margin from Z3? A: Joe Mastrangelo, CEO: The revenue cadence will be influenced by both the backlog of early booked deals and the ramp-up of subassembly automation. We expect the first quarter to be similar to the fourth quarter due to subassembly timing. As we ramp up subassembly, labor costs will decrease, and output will increase, impacting both labor and overhead numbers, allowing us to grow through the second and third quarters and reach the run rate by the fourth quarter.