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EDISON, N.J. - Eos Energy Enterprises, Inc. (NASDAQ:EOSE), a provider of zinc-based long duration energy storage systems, reported fourth quarter 2024 results that fell short of analyst expectations on revenue but reiterated its full-year 2025 guidance.
The company posted Q4 revenue of $7.3 million, up 10% YoY but below the consensus estimate of $12.42 million. Adjusted EPS came in at -$1.22, missing analyst projections of -$0.20 per share.
Despite the revenue miss, Eos reaffirmed its 2025 revenue guidance range of $150 million to $190 million, in line with the analyst consensus of $167.2 million.
CEO Joe Mastrangelo highlighted the company’s progress, stating, "Over the past 12 months the team delivered significant results. The organization brought the first state-of-the-art manufacturing line into full operation, reduced Z3 costs, increased commercial opportunity pipeline and orders backlog and secured two major financing investments with Cerberus and the Department of Energy."
Eos reported a customer orders backlog of $682 million as of Q4, representing a 28% increase YoY. The company also noted it had secured an $8 million standalone battery energy storage system order for the Naval Base of San Diego.
Operating expenses rose 52% YoY to $28.2 million in Q4, with 45% of the total representing non-cash items. The company ended the quarter with $103.4 million in total cash, including restricted cash.
Eos shares edged up 1.5% following the earnings release, suggesting investors were largely neutral on the mixed results and maintained outlook.
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