Eos Energy Q3 Revenue Jumps 171% to a Record $82.7 Million; $87 Million DOE Loan Advance Received
Eos Energy Enterprises, Inc. (Nasdaq: EOSE), a Pittsburgh, Allegheny County, Pennsylvania-based maker of zinc-based long-duration energy storage systems, reported third-quarter 2026 results on November 5: revenue totaled $82.7 million, up 171% year over year and 20% sequentially, a quarterly record delivered through deliveries to 10 projects, driven by a 216% increase in cube shipments year over year and 23% growth sequentially.
Gross margin was negative 53%, improving 58 percentage points year over year and 18 percentage points sequentially. Gross loss was $44.2 million, compared to $33.9 million in the prior-year period. Net income attributable to shareholders totaled $125.0 million, primarily reflecting non-cash mark-to-market gains on warrants and debt resulting from changes in the company's stock price. Adjusted EBITDA loss improved to $63.8 million, with adjusted EBITDA margin of negative 77%, improving 96 percentage points year over year. Total cash, including restricted cash, was $344.1 million as of September 30, 2026.
Backlog totaled $765 million, representing 3.2 GWh, up 19% year over year, and the commercial opportunity pipeline stood at $24.9 billion. During the quarter the company received an $87 million first advance under the second tranche of its U.S. Department of Energy loan, and announced a project with MN8 Energy to deliver 10 MW/100 MWh of Z3 zinc-based long-duration storage in West Virginia, serving Google's data centers. Cumulative energy discharged from Eos technology reached 6.9 GWh.
The company reaffirmed that it expects full-year 2026 revenue in the lower half of its $300 million to $350 million range. Beginning in late October, Eos accelerated the consolidation of manufacturing into its Thorn Hill facility; Line 1 is being relocated and upgraded and is expected to resume production near the end of the first quarter of 2027, after which Thorn Hill is expected to have approximately 4 GWh of annual nameplate capacity across two production lines. Chief Executive Officer Joe Mastrangelo said the third quarter showed operating-model improvement, with the company's highest quarterly revenue and gross margin improving 18 points sequentially. (Source: Eos Energy Enterprises)
Source: Eos Energy Enterprises
Published by GSM · USA (original Chinese edition)
Photo: 图：位于华盛顿州 Pullman 的 Turner 储能项目电池储能系统实景（资料图，非 Eos Energy 设施）。UniEnergy Technologies，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: Battery energy storage containers at the Turner Energy Storage Project in Pullman, Washington (reference photo, not an Eos Energy facility). By UniEnergy Technologies, CC BY-SA 4.0, via Wikimedia Commons.
