Nov. 05, 2025 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), an American energy company and the leading innovator in designing, sourcing, manufacturing, and providing zinc-based battery energy storage systems (BESS) manufactured in the United States, today announced its financial results for the third quarter ended September 30, 2025.
Third Quarter Highlights
- Record quarterly revenue of $30.5 million, a 100% increase compared to the prior quarter and up 35x from the same period last year, as production efficiencies continue to improve.
- Gross loss of $33.9 million compared to $31.0 million in the prior quarter, a 92-point margin improvement, driven by increased production volumes and improved project margins.
- Operating expenses totaled $27.3 million, $5.6 million lower than prior quarter.
- Net loss attributable to shareholders totaled $641.4 million, driven primarily by a $572.3 million cumulative non-cash impact from the changes in fair value tied to mark-to-market adjustments driven by 122% increase in the Company’s stock price as of September 30, 2025, and the corresponding loss recorded for the early retirement of convertible notes with a 26.5% interest rate.
- Adjusted EBITDA loss of $52.7 million compared to $51.6 million in the prior quarter, a 166-point improvement on improved manufacturing variable cost utilization.
- Total cash of $126.8 million, including restricted cash, as of September 30, 2025.
- Commercial opportunity pipeline of $22.6 billion, an increase of 21% compared to prior quarter and 59% compared to September 30, 2024, with $644.4 million of orders in backlog as of September 30, 2025.
“We are in the midst of an energy super-cycle as the need for reliable, abundant energy both in the United States and globally continues to accelerate,” said Joe Mastrangelo, Eos Chief Executive Officer. “Achieving forecasted AI infrastructure growth requires baseload energy storage to support grid resilience, energy efficiency, and asset utilization. Whether coupled with fossil fuel generation, renewables, or nuclear, Eos is a flexible, commercially ready, American made solution that supports the nation’s growing energy requirements.”
2025 Outlook
- The Company expects full year revenue in the range of $150 million to $160 million, consistent with the low end of its previously forecasted range. In recent months, Eos has advanced the implementation of subassembly automation at its Turtle Creek manufacturing facility, with all equipment now on site and 88% of its bipolar lines in commercial production. This automation, combined with increasing throughput on the Company’s first state-of-the-art manufacturing line, positions Eos to ramp production to an annualized rate of 2 GWh per year by year-end 2025 and more than triple its output in the fourth quarter.
Recent Business Highlights
Commercial Growth
Artificial intelligence infrastructure is expanding at an unprecedented pace, pushing electricity demand beyond traditional grid development timelines and creating the need for resilient, scalable energy solutions. At the same time, U.S.-based energy resources and supply chains are gaining strategic advantage amid shifting trade dynamics, tariffs, and export controls, positioning Eos as a key contributor to America’s energy independence. During the quarter, Eos added $3.8 billion to its commercial pipeline, bringing the total to $22.6 billion, representing 91 GWh of energy storage capacity. Growth was driven by strong increase in large-scale projects tied to data center expansion, which now account for approximately 22% of the total pipeline.
Post-quarter end, Eos announced a series of strategic wins which added nearly 1 GWh of new orders, highlighting its growing influence across both domestic and international markets. Eos secured a 228 MWh order from Frontier Power, a leading UK developer, to deploy Z3™ systems across multiple long-duration demonstrations ahead of the UK’s Ofgem Cap-and-Floor program. In the U.S., Eos signed a 750 MWh supply agreement with MN8 Energy to deliver clean, dispatchable power for large load applications such as data centers. Talen Energy and Eos also signed a strategic collaboration framework to deliver multi-GWh storage capacity across Pennsylvania, pairing long-duration storage with existing generation assets to enhance grid resilience, support AI growth, and strengthen national energy security.
Capacity Expansion
Post-quarter end, Eos announced the next phase of its growth strategy under Project AMAZE, featuring a U.S. manufacturing expansion and new software hub to strengthen American energy storage capacity and job creation. In partnership with the Commonwealth of Pennsylvania and Governor Josh Shapiro along with Allegheny County and its County Executive Sara Innamorato, Eos was awarded a $24 million economic development package to support this expansion. The Company will move into a repurposed 432,000 sq. ft. facility in Marshall Township, adding production lines to its existing Turtle Creek operations with line 2 production expected to begin by mid-2026.
Eos will also open a software hub at Nova Place in Pittsburgh to support its growing installed base with its DawnOS™ platform, advancing software, robotics, and engineering capabilities that power the next generation of U.S.-made energy storage systems. Fully developed in the U.S., DawnOS™ uses advanced algorithms for State of Charge (SoC), State of Health (SoH), and State of Energy (SoE) to improve efficiency, reduce operating costs, and enhance grid coordination. Purpose-built for Eos’ Z3™ systems, DawnOS™ provides precise, automated control down to the individual module level, increasing both reliability and uptime.
Earnings Conference Call and Webcast
Eos will host a conference call to discuss its third quarter 2025 results on November 6, 2025, at 8:30 a.m. ET. The live webcast of the earnings call will be available on the “Investor Relations” page of the Company’s website at Eos Investors or may be accessed using this link (Registration Link). To avoid delays, we encourage participants to join the conference call fifteen minutes ahead of the scheduled start time.
The conference call will be available via webcast through Eos’ investor relations website for twelve months following the live presentation. The webcast replay will be available from approximately 11:30 a.m. ET on November 6, 2025, and can be accessed by visiting Eos Investors.
About Eos Energy Enterprises
Eos is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. The Company’s BESS features the innovative Znyth™ technology, a proven chemistry with readily available non-precious earth components, that is the pre-eminent safe, non-flammable, secure, stable, and scalable alternative to conventional lithium-ion technology. The Company’s BESS is ideal for utility-scale, microgrid, commercial, and industrial long-duration energy storage applications (i.e., 4 to 16+ hours), and provides customers with significant operational flexibility to effectively address current and future increased grid demand and complexity.
