Shares of Eos Energy Enterprise (EOSE) are gaining around 7 percent after the energy storage solutions company posted growth in the first quarter on Wednesday.
The company further reaffirmed its full-year revenue guidance of $300 million to $400 million.
For the first quarter, Net income rose sharply to $508.88 million from $15.14 million last year, attributed by non-cash change in fair value tied to mark-to-market adjustments impacted by the Company's end of quarter stock price.
Earnings per share was $0.12 compared to a loss per share of $0.20 a year ago.
Quarterly revenue jumped 445 percent to $56.96 million from $10.46 million in the previous year, driven by full battery module automation and 5.7x higher cube deliveries.
On the Nasdaq, shares of Eos Energy are currently trading 7.60 percent higher at $8.72.
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