Shares of Eos Energy Enterprises, Inc. (EOSE) are up by 4.06% in the premarket trading Wednesday, following the company's financial results for the fourth quarter and full year ended December 31, 2024.
For the fourth quarter of 2024, Eos Energy Enterprises reported $7.3 million in revenue, a modest increase from $6.6 million in the same period of 2023, driven by growth in its energy storage solutions.
The net loss attributable to common shareholders for Q4,2024 was $0.48 million, or $1.22 per share, compared to a net loss of $0.04 million, or $0.29 per share, in Q4,2023.
For the full year of 2024, Eos generated $15.6 million in revenue, compared to $16.4 million in 2023.
For the full year of 2024, the company reported a net loss attributable to common shareholders of $0.96 million, or $2.22 per share, compared to a net loss of $0.23 million, or $1.55 per share, in 2023.
Looking ahead to 2025, EOS Energy expects its total revenue to be between $150 million and $190 million, reflecting a growth of 861% to 11152% over 2024.
The company expects to significantly expand its production capacity in 2025, with gross margins projected to improve throughout the year to between 89% and 91%.
Total cash of $103.4 million, including restricted cash, as of December 31, 2024.
EOSE, closed Tuesday's (Mar. 04, 2025) trading at $3.94, down 1.13%. In pre-market trading Wednesday, the stock is up by 4.06% at $4.10.
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