EOSE Research | Milton Maxwell

EOSE

Eos Energy Enterprises, Inc.

13.30

-0.33-2.42%

Dec 16, 4:00:01 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

FY Q3 '25

Q&A details ramps, margins, funding

11/5/25Nov 5, 2025

Q&A reinforced prepared ops momentum but unpacked ramp details: capacity utilization leaping to 90%+ by Q4 end from Q3's 15%, with lines adding every 90 days synced to orders. ASPs hit normal portfolio average, up overall as field data validates Z3 value. John detailed margin levers—supplier ramps, labor tweaks doubling output, 61 material projects by Q2 exit—eyeing gross positive post-Q1. Ramps now take days, not weeks. Analysts grilled '26 trajectory, funding, concentration; management touted customer deposits, operational capex, opportunistic raises. Confident scaling tone; investors watch profitability milestones.

Key Stats

Market Cap

4.31B

P/E (TTM)

Basic EPS (TTM)

-8.31

Dividend Yield

Recent Filings

8-K

Board chair transition announced

12/22/25Dec 22, 2025

Eos Energy Enterprises announced Russell Stidolph's resignation from the Board, effective December 31, 2025, to focus on other ventures; Joseph Nigro succeeds as non-executive chair on January 1, 2026. Nigro brings three decades of energy, utility, and infrastructure expertise from roles like Exelon's CFO and Constellation's CEO. Smooth transition. Leadership shift bolsters strategic guidance amid manufacturing expansion.

8-K

Eos closes $600M notes issuance

11/24/25Nov 24, 2025

Eos issued $600M of 1.75% convertible senior notes due 2031 on November 24, 2025, upsized after initial purchasers exercised their $75M option. Paired with a $458M registered direct stock offering at $12.78/share, proceeds funded repurchase of $200M principal of existing 6.75% notes due 2030 for $564.6M. Credit agreement amended to allow cash conversion settlements until shareholder vote on authorized shares. Notes rank senior unsecured, yet effectively junior to secured debt.

8-K

Eos Energy Enterprises secures lender consent for stock and convertible notes offerings, while issuing warrants to the DOE, to refinance 6.75% notes and maintain compliance with DOE loan terms.

11/18/25Nov 18, 2025

Eos Energy Enterprises announces amendments to its credit agreement and a warrant issuance to the DOE, enabling new equity and debt offerings to refinance existing notes and support operations.

8-K

Record Q3 revenue doubles

11/5/25Nov 5, 2025

Eos Energy Enterprises reported record Q3 2025 revenue of $30.5 million, doubling Q2 and surging 35x year-over-year, fueled by production ramps and key deals like a 228 MWh order from Frontier Power and a 750 MWh agreement with MN8 Energy. While gross losses narrowed to $33.9 million amid higher volumes, net losses hit $641.4 million from non-cash derivative adjustments tied to a 122% stock surge. Backlog stands at $644.4 million; full-year revenue guidance holds at $150-160 million. Production ramps to 2 GWh annually by year-end.

10-Q

Q3 FY2025 results

11/5/25Nov 5, 2025

Eos Energy Enterprises ramped up revenue to $30.5M in Q3 FY2025 ended September 30, 2025, a 3473% y/y surge from $0.9M, driven by higher product sales volumes and pricing, though gross loss widened to $33.9M from $24.9M as costs hit $64.4M amid scaling production. YTD revenue climbed 573% y/y to $56.2M, with operating loss deepening to $178.0M from $123.5M on elevated SG&A and R&D tied to growth initiatives. Diluted EPS of $(6.06) YTD aligns with 245.1M weighted shares, no anti-dilution flagged. Liquidity strengthened to $58.7M unrestricted cash plus $68.1M restricted, bolstered by $240.0M 2025 Convertible Notes issuance (6.75% rate, June 2030 maturity) and full $210.5M Delayed Draw Term Loan drawdown (7% rate post-amendment, June 2034 maturity), with $105.0M revolver available from June 2026; DOE Loan drew $90.9M under Tranche 1 for Line 1 automation, covenants met including minimum liquidity. Free cash flow not disclosed in the 10-Q. Yet competition from lithium-ion rivals pressures market share.

About

Eos Energy Enterprises, Inc. designs, develops, manufactures, and markets energy storage solutions for utility-scale, microgrid, and commercial and industrial applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility. It also provides Z3 battery module that provides utilities, independent power producers, renewables developers, and commercial and industrial customers with an alternative to lithium-ion and lead-acid monopolar batteries for critical 3- to 12-hour discharge duration applications; battery management system, which provides a remote asset monitoring capability and service to track the performance and health of BESS and identify future system performance issues through predictive analytics; and project management and commissioning services, as well as long-term maintenance plans. The company was founded in 2008 and is headquartered in Edison, New Jersey.

CEO

Mr. Joseph R. Mastrangelo Jr.

IPO

11/2/2020

Website

https://www.eose.com

Employees

430

Sector

Industrials

Industry

Electrical Equipment & Parts