Eos Energy Enterprises Meets 2024 Revised Revenue Guidance and Reports Fourth Quarter & Full-Year 2024 Financial Results; Reaffirms 2025 Revenue Guidance

Core Insights - Eos Energy Enterprises, Inc. reported significant financial results for Q4 and full-year 2024, highlighting a 10% year-over-year revenue increase to $7.3 million and a staggering 749$23.5 million, consistent with the prior year, while operating expenses rose by 52% to $28.2 million, primarily due to non-cash items [6][5] - Eos has a robust commercial opportunity pipeline valued at$14.4 billion, reflecting a 9% increase from the previous year, and a customer orders backlog of $682 million, up 28$7.3 million, marking a 10% increase year-over-year and a 749% increase from Q3 2024 [6] - The company reported a gross loss of $23.5 million, with operating expenses totaling$28.2 million, a 52% increase compared to the prior year [6] - Net loss attributable to shareholders was $268.1 million, largely due to non-cash changes in fair value related to stock price adjustments [6] Full-Year 2024 Highlights - Total revenue for 2024 was$15.6 million, slightly below the revised guidance, with a gross loss of $83.3 million, a 13$91.9 million, a 16% increase year-over-year, driven by strategic investments [6] - The net loss attributable to shareholders for the year was $685.9 million, significantly impacted by non-cash fair value changes [6] Strategic Developments - Eos secured$40.5 million from Cerberus Capital Management and a $303.5 million loan guaranteed by the U.S. Department of Energy, enhancing its financial stability [5][8] - The company launched Factory 2 Works, responding to Requests for Proposals from eight states, and plans to procure three additional manufacturing lines to support increased production capacity [11][12] - Eos aims to achieve revenue between$150 million and $190 million in 2025, driven by increased production volume and operational efficiencies [7] Operational Capacity Expansion - The company is expanding its first manufacturing line from 1.25 GWh to 2 GWh annualized capacity, with full implementation expected in the second and early third quarters of 2025 [12] - Eos is actively pursuing additional manufacturing lines to meet the growing demand for reliable energy storage solutions [11] - The expansion is crucial for scaling operations and enhancing the company's ability to fulfill larger orders [11]