Eos Energy expects $82M–$83M preliminary Q3 revenue
EOSE's preliminary update combines approximately 169% to 172% year-over-year revenue growth with a GAAP gross-margin loss of (55)% to (53)%.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Eos Energy Enterprises, Inc. (EOSE) expects preliminary third-quarter 2026 revenue of $82 million to $83 million for the three months ended September 30, 2026, with growth of approximately 19% to 21% sequentially and 169% to 172% year over year. Shipments increased approximately 23% from the prior quarter. GAAP gross margin is estimated at (55)% to (53)%, an improvement of approximately 16 to 18 percentage points from the second quarter; Eos said this was its eighth consecutive quarter of gross-margin improvement.
Total cash, including restricted cash, was approximately $344 million as of September 30, 2026, compared with $364 million as of June 30, 2026. Backlog was approximately $765 million, or approximately 3.2 GWh. Eos received six purchase orders from six customers during the quarter. Eos expects full-year 2026 revenue in the lower half of its $300 million to $350 million range. Its current forecast reflects adding the final shift to bring Thorn Hill to 24-hour operation in the fourth quarter; after consolidation and full-scale operations, Thorn Hill is expected to have approximately 4 GWh of annual nameplate production capacity. These preliminary management estimates have not been audited or reviewed, and actual results may differ materially.
2 points · 0 major0 major · 1 point
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointRevenue growth: approximately 169% to 172% year over year.
- Moderate pointGross margin: improved approximately 16 to 18 percentage points for an eighth consecutive quarter.
Negative
- Moderate pointPreliminary GAAP gross margin: (55)% to (53)%.
Filing Explained
Eos scheduled full third-quarter results for before the U.S. market opens on November 5, 2026.
The 8-K gives preliminary third-quarter figures: September 30 cash, including restricted cash, was about
Eos defines backlog as expected revenue from existing customer agreements, adjusted for modified or canceled orders; it says backlog has no comparable GAAP measure.
8-K Event Classification
4 items: 2.02, 7.01, 8.01, 9.01
4 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Revenue: $82 million to $83 million
Shipment growth: Approximately 23%
GAAP gross margin: (55)% to (53)%
+5 more
8 metrics
Revenue
$82 million to $83 million
Preliminary third quarter ended September 30, 2026; approximately 19% to 21% sequential growth and 169% to 172% year-over-year growth
Shipment growth
Approximately 23%
Quarter over quarter
GAAP gross margin
(55)% to (53)%
Preliminary third quarter 2026
Gross-margin improvement
Approximately 16 to 18 percentage points
Compared with the second quarter of 2026
Total cash
Approximately $344 million
Including restricted cash, as of September 30, 2026
Backlog
Approximately $765 million; approximately 3.2 GWh
As of September 30, 2026
Full-year revenue range
$300 million to $350 million
Eos expects full-year 2026 revenue in the lower half of the range
Annual nameplate production capacity
Approximately 4 GWh
Expected at Thorn Hill after manufacturing consolidation and full-scale operations
Key Terms
first-pass yield, capacity reservation agreement, nameplate production capacity, backlog, +1 more
5 terms
first-pass yield technical
"first-pass yield aligned to Line 1 performance"
First-pass yield is the percentage of units or outputs that meet quality standards on the first attempt without needing rework, repair, or additional inspection. For investors, it signals how efficiently a company produces goods or delivers services—higher first-pass yield usually means lower costs, fewer delays, and more reliable supply, which can support steadier margins and better operational predictability. Think of it as the share of cookies that come out of the oven perfect the first time.
capacity reservation agreement financial
"under an existing capacity reservation agreement"
A capacity reservation agreement is a contract where a buyer pays to reserve a portion of a supplier’s future production, shipping, storage or service capability so that the buyer is guaranteed access when needed. For investors, it signals committed future demand and can protect a company from shortages, but it also creates obligations or upfront costs that affect cash flow and risk if the reserved capacity goes unused—like pre-booking a block of hotel rooms for a future event.
nameplate production capacity technical
"approximately 4 GWh of annual nameplate production capacity"
Nameplate production capacity is the maximum output a factory, plant, or facility is designed to produce under ideal conditions, like a car maker’s maximum number of cars per year or an oven’s maximum loaves per bake. Investors use it as a baseline for potential revenue and growth—think of it as a machine’s advertised top speed—while remembering actual production is often lower due to maintenance, supply limits, or operational issues.
backlog financial
"Our backlog represents the amount of revenue that we expect to realize"
A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.
conversion costs per unit financial
"lower conversion costs per unit"
Earnings Snapshot
Revenue: $82 million to $83 million · Guidance included
Third quarter ended September 30, 2026
Revenue
$82 million to $83 million
Approximately 19% to 21% sequential growth and 169% to 172% year-over-year growth
GAAP gross margin
(55)% to (53)%
Improved approximately 16 to 18 percentage points compared with the second quarter of 2026
Total cash, including restricted cash
Approximately $344 million
Backlog
Approximately $765 million, representing approximately 3.2 GWh
Guidance
Eos expects full-year 2026 revenue in the lower half of its $300 million to $350 million range.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Eos Energy (EOSE)'s preliminary third-quarter 2026 revenue and gross margin?
Eos expected revenue of $82 million to $83 million, with approximately 19% to 21% sequential growth and 169% to 172% year-over-year growth. GAAP gross margin was estimated at (55)% to (53)%, an improvement of approximately 16 to 18 percentage points from the second quarter.
How much backlog did Eos Energy (EOSE) report for September 30, 2026?
Backlog was approximately $765 million, representing approximately 3.2 GWh. Eos said the backlog reflects revenue expected from existing customer agreements for battery energy storage systems and services.
What is Eos Energy (EOSE)'s full-year 2026 revenue outlook?
Eos expects full-year 2026 revenue in the lower half of its $300 million to $350 million range. Its current forecast reflects adding the final shift to bring Thorn Hill to 24-hour operation during the fourth quarter.
What drove Eos Energy's (EOSE) third-quarter gross-margin improvement?
Eos attributed the improvement to higher production volumes and lower conversion costs per unit. Line 2 contributed approximately 17% of total battery production during the quarter and exited the quarter with first-pass yield aligned to Line 1 performance.
When will Eos Energy (EOSE) report final third-quarter 2026 results?
Eos plans to report full third-quarter results before the U.S. market opens on November 5, 2026. The conference call is scheduled for 8:30 a.m. Eastern Time that morning.
AI-generated analysis. How Rhea-AI works. Not financial advice.
9
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 19, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (732 ) 225-8400
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
1
Item 2.02 Results of Operations and Financial Condition.
On October 19, 2026, the Company issued a press release providing its preliminary results for the quarter ended September 30, 2026 and certain other business updates. A copy of the press release is furnished herewith as Exhibit 99.1.
The information furnished under this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 7.01 Regulation FD Disclosure.
Item 2.02 above is incorporated herein by reference.
The information furnished under this Item 7.01 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 8.01 Other Events.
Based on preliminary financial information, Eos currently expects:
•Revenue of $82 million to $83 million for the three-month period ended September 30, 2026, driven by a 23% increase in shipments compared to the prior quarter.
•Gross margin loss between 53% and 55%, for the three-month period ended September 30, 2026 reflecting continued progress in manufacturing scale and operational execution. As the Company continues staffing and training employees to support additional shifts on Line 2 at Thorn Hill, Eos expects further margin expansion from higher production volumes, higher capacity utilization, consolidation into one footprint and ongoing cost-reduction initiatives.
•Total Cash, including restricted cash, of approximately $344 million as of September 30, 2026.
•Backlog of approximately $765 million as of September 30, 2026.
These preliminary results for the third quarter ended September 30, 2026 are preliminary and estimated based on the information available to us at this time, and should not be viewed as a substitute for our interim unaudited condensed consolidated financial statements prepared in accordance with GAAP. Actual financial results for the third quarter ended September 30, 2026, may differ materially from the preliminary financial results. Accordingly, you should not place undue reliance on these preliminary results. The preliminary results for the third quarter ended September 30, 2026 have been prepared by and are the responsibility of management. Neither our independent registered public accounting firm, nor any other independent accountants, have audited, reviewed, compiled or performed any procedures with respect to the preliminary results, nor have they expressed any opinion or any other form of assurance with respect thereto.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits
Exhibit Number | Description of Document | |||||||
99.1 | Press release of Eos Energy Enterprises, Inc., dated October 19, 2026 | |||||||
104 | Cover Page Interactive Date File (embedded with the Inline XBRL document). | |||||||
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EOS ENERGY ENTERPRISES, INC. | |||||||||||
Dated: October 19, 2026 | By: | /s/ Alessandro Lagi | |||||||||
Name: | Alessandro Lagi | ||||||||||
Title: | Chief Financial Officer | ||||||||||
3
Eos Energy Enterprises Announces Preliminary Third Quarter 2026 Revenue Growth and Continued Gross Margin Improvement and Sets Conference Call Date PITTSBURGH, PA, October 19, 2026 — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), America’s leading innovator in designing, manufacturing, and providing zinc- based long-duration energy storage (LDES) systems sourced and manufactured in the United States, today announced preliminary financial results for the third quarter ended September 30, 2026. Based on preliminary financial information, Eos currently expects: Revenue of $82 to $83 million, representing approximately 19% to 21% sequential growth and approximately 169% to 172% year-over-year growth. Shipments increased approximately 23% quarter over quarter, supported by continued production scaling at the Company's second manufacturing line at its Thorn Hill facility. During the quarter, Line 2 contributed approximately 17% of total battery production and exited the quarter with first- pass yield aligned to Line 1 performance. The line continued to operate on a partial-shift schedule at Thorn Hill as the Company progressed the hiring, onboarding, and training of additional employees to support production growth and full-shift operations. GAAP gross margin of (55)% to (53)%, representing an improvement of approximately 16 to 18 percentage points compared to the second quarter of 2026, driven by higher production volumes and lower conversion costs per unit. Eos achieved its eighth consecutive quarter of gross margin improvement. As the Company continues staffing and training employees to support additional shifts on Line 2 at Thorn Hill, Eos expects further margin expansion from higher production volumes, higher capacity utilization, consolidation into one footprint, and ongoing material cost-reduction initiatives. Total cash, including restricted cash, was approximately $344 million as of September 30, 2026, compared to $364 million as of June 30, 2026. Quarter-end cash was supported by approximately $114 million of operating cash inflows driven primarily by customer deposits, project milestone receipts, and tax credit collections, as well as an additional $87 million advance under the DOE loan facility. Capital expenditures totaled approximately $35 million, primarily related to completion of Line 2 automation. Backlog of approximately $765 million as of September 30, 2026, representing approximately 3.2 GWh, after revenue recognized during the quarter and new orders booked. During the quarter, six purchase orders were received from six different customers, including a previously announced $100 million order under an existing capacity reservation agreement, which did not contribute to quarter-over-quarter backlog growth. Commercial traction continued across the defense, commercial & industrial (C&I), and data center markets. During the quarter, Eos announced key projects supporting the Golden Dome initiative for mission-critical defense applications and, alongside MN8, a project with Google, highlighting the growing demand for long-duration energy storage systems in data center applications.
The Company currently expects full-year 2026 revenue in the lower half of its $300 million to $350 million range. The current forecast reflects the addition of the final shift to bring Thorn Hill to 24- hour operation during the fourth quarter. Eos enters the fourth quarter with strong revenue visibility supported by customer commitments and projects in backlog. Following the manufacturing consolidation and achievement of full-scale operations, Thorn Hill will serve as the Company's manufacturing facility and is expected to have approximately 4 GWh of annual nameplate production capacity across its two production lines. “We delivered our highest revenue to date and improved gross margin by roughly 17 points as volume begins to ramp at Thorn Hill,” said Alessandro Lagi, Chief Financial Officer of Eos. “Consolidating into Thorn Hill is the right decision for the Company. It gives us one modern, higher throughput site, lowers our cost per unit, and puts us on a clear path to positive margins. We’re being disciplined about the transition in the fourth quarter and customer demand for American- made long-duration storage remains strong.” Conference Call Details The Company will report its full third quarter 2026 financial results before the U.S. market opens on November 5, 2026. A conference call to discuss its results will take place the same morning at 8:30 a.m. Eastern Time. 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 replay 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. Eastern Time on November 5, 2026, 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 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 cost effectively address current and future increased grid demand and complexity. For more information about Eos (NASDAQ: EOSE), visit eose.com. Contacts Investors: ir@eose.com Media: media@eose.com Forward-Looking Statements and Important Information
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding preliminary revenue, gross margin, backlog, total cash, customer collections, manufacturing capacity, Battery Line 2 performance, expected manufacturing consolidation activities, anticipated throughput and efficiency improvements, expected revenue visibility, and the Company’s ability to achieve its operational, commercial, financial, and production-capacity objectives, including the extent to which any purchase orders, capacity reservations, backlog, or project pipeline may ultimately result in executed contracts, construction activities, or revenue. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and the information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: risks related to the preliminary nature of the financial information included in this release, which is based on information currently available to management and subject to completion of quarter-end closing procedures, management review, Audit Committee review, any applicable independent auditor review procedures, and finalization of the Company’s financial statements and periodic report, including the risk that final results may differ materially from the preliminary results presented herein; risks related to manufacturing ramp-up and consolidation, including start-up costs, lower initial production volumes, production interruptions, cost absorption, equipment commissioning, battery line performance, throughput, yield, scrap, labor, materials, supply chain availability, operational efficiency, employee retention and transition, required approvals, and customer delivery schedules; risks related to the development, financing, construction, and commissioning of projects, including timelines and the ability of counterparties to perform; the timing, issuance, and size of future project-level purchase orders and the conversion of framework agreements, capacity reservations, backlog, and pipeline into revenue; risks related to FPUSA, including its ability to source, acquire, finance, and execute projects, and risks related to Eos’ intended equity interest in FPUSA and any related-party considerations; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, and contractual lockup of shares; our customers’ and project counterparties’ ability to secure project financing; changes adversely affecting the business in which we are engaged; our ability to generate cash, service indebtedness, and raise financing in the future; our ability to satisfy the conditions applicable to future advances under the Department of Energy Loan Facility and the timing and availability of future funding thereunder; the amount of final tax credits available pursuant to the Inflation Reduction Act; competition from existing or new competitors; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and the potential costs of regulatory compliance; changes in applicable laws or regulations; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably and to retain
management and key employees; risks related to adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; and other risks and uncertainties. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Key Metrics Backlog. Our backlog represents the amount of revenue that we expect to realize from existing agreements with our customers for the sale of our battery energy storage systems and performance of services. The backlog is calculated by adding new orders in the current fiscal period to the backlog as of the end of the prior fiscal period and then subtracting the shipments in the current fiscal period. If the amount of an order is modified or cancelled, we adjust orders in the current period and our backlog accordingly, but do not retroactively adjust previously published backlogs. There is no comparable U.S. GAAP financial measure to backlog. We believe that the backlog is a useful indicator regarding the future revenue of our Company.