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Eos Energy Enterprises (NASDAQ: EOSE) announced its Q1 2024 financial results, highlighting revenue of $6.6 million, a 25% decrease YoY, and a cost of goods sold of $28.2 million, a 5% increase. Operating expenses decreased by 3% to $19.5 million. The company reported a cash balance of $31.8 million. The commercial pipeline increased by 56% to $13.3 billion with a $602.7 million backlog. Eos completed Factory Acceptance Testing on its new manufacturing line, set for Q2 commissioning. The company reaffirmed its 2024 revenue outlook of $60M-$90M and expects a positive contribution margin in Q4. Recent successes include shipping over 110 Z3 Cubes and achieving significant cost reductions. Eos sees growth opportunities from new regulations favoring domestically produced energy storage solutions.
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) disclosed its presence at two investor conferences in June. CEO Joe Mastrangelo and CFO Nathan Kroeker will be representing the company at the Stifel Cross Sector Insight Conference and the Evercore ISI Global Clean Energy & Transition Technologies Summit.
Eos Energy Enterprises, Inc. announced the successful approval of all proposals at its 2024 Annual Stockholders' Meeting. Stockholders approved the election of new directors, ratified the selection of an accounting firm, approved executive compensation, and increased authorized shares, highlighting the company's commitment to growth and strategic planning.
