NASDAQ: EOSE
Eos Energy Enterprises, Inc.CIK 0001805077 · SIC 3690 · Miscellaneous Electrical Equipment
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Eos Energy draws $87M third advance under DOE-guaranteed loan to fund Thorn Hill line 2
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Eos Energy appoints Michelle Buczkowski as Chief Commercial Officer; Nathan Kroeker to depart
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Eos closes $262.6M joint venture with Cerberus and Hudson Bay, issues 30M warrants at $5.481
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Revenue surges 351% to $68.8M; operating loss widens 31% as net income of -$275.7M driven by non-operating fair-value gains
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Eos Energy reports $68.8M Q2 revenue, narrows 2026 guidance to $300M–$350M
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Eos Energy expects to receive $37.7M in proceeds in rights offering, 25% subscription rate
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Eos Energy reports record Q2 revenue of $68-69M, backlog grows 25% to $807M
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Eos Energy appoints cybersecurity expert Haiyan Song to Board, names Marie Martin CLO
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Eos Energy launches $150M rights offering at $5.48/unit to fund Frontier Power investment
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Eos Energy raises $75M in registered direct offering, issues 13.7M shares to Hudson Bay
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Eos Energy forms $300M+ joint venture with Cerberus and Hudson Bay, plans $150M rights offering
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Eos Energy Enterprises prices $75M offering at $5.48/share with warrants; proceeds to acquire Frontier units
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Eos Energy prices $5.59/share offering with warrants; proceeds to acquire Frontier units at $1.00
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Eos Energy shareholders approve 200M share increase to fund Frontier Power USA joint venture
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EOSE Q1 revenue surges 445% to $57.0M; net income swings positive on non-operating gain
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Eos Energy forms $100M joint venture with Cerberus, plans $150M rights offering to shareholders
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Eos Energy appoints Alessandro Lagi as CFO with $2M equity grant, $470K salary
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Eos Energy releases preliminary Q1 2026 results and business updates
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Eos Energy formalizes employment agreement with Chief Administration Officer
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(in thousands, except per share amounts; mapped from filer XBRL tags, not printed on the filing face)
| Description | Q2 ended Jun 30, 2026 | Q2 ended Jun 30, 2025 |
|---|---|---|
| Revenue: | ||
| Total revenue / net sales | 68,775 | 15,236 |
| Cost of revenue / cost of sales | 117,576 | 46,189 |
| Gross profit | (48,801) | (30,953) |
| Operating expenses: | ||
| Research and development | 10,505 | 7,201 |
| Selling, general and administrative | 24,500 | 25,488 |
| Total operating expenses | 35,010 | 32,894 |
| Operating income | (83,811) | (63,847) |
| Interest expense | 11,972 | 7,490 |
| Other income/(expense), net | 206 | (606) |
| Gain on debt extinguishment | — | (49,063) |
| Income before income taxes | (275,697) | (222,931) |
| Income tax expense/(benefit) | 13 | 6 |
| Net income | (275,710) | (222,937) |
| Basic earnings per share | (1.20) | (1.05) |
| Diluted earnings per share | (1.20) | (1.05) |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except share and per share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 305,491 | 567,992 |
| Restricted cash | 43,579 | 34,636 |
| Accounts receivable, net | 8,117 | 6,779 |
| Accounts receivable related party | 5,516 | — |
| Inventory | 74,990 | 59,026 |
| Vendor deposits | 16,118 | 11,756 |
| Contract assets, current | 15,877 | 13,972 |
| Prepaid expenses | 3,243 | 2,701 |
| Grant receivable, net | 33,826 | 11,028 |
| Other current assets | 7,243 | 590 |
| Total current assets | 514,000 | 708,480 |
| Property, plant and equipment, net | 177,453 | 114,415 |
| Intangible assets, net | 1,507 | 979 |
| Goodwill | 4,331 | 4,331 |
| Operating lease right-of-use asset, net | 20,727 | 20,420 |
| Long-term restricted cash | 15,000 | 21,938 |
| Other assets, net | 173,761 | 14,634 |
| Total assets | 906,779 | 885,197 |
| LIABILITIES | ||
| Current liabilities: | ||
| Accounts payable | 105,598 | 99,915 |
| Accrued expenses | 42,469 | 25,794 |
| Operating lease liability, current | 1,781 | 1,960 |
| Long-term debt, current | — | 372 |
| Contract liabilities, current | 7,912 | 14,975 |
| Other current liabilities | 126 | 524 |
| Total current liabilities | 157,886 | 143,540 |
| Long-term liabilities: | ||
| Operating lease liability | 21,926 | 19,182 |
| Long-term debt | 453,835 | 662,467 |
| Notes payable related party | 163,283 | 150,427 |
| Contract liabilities, long-term | 1,974 | 2,506 |
| Warrants liability | 135,362 | 313,253 |
| Warrants liability related party | 254,031 | 470,715 |
| Other liabilities | 36,044 | 427 |
| Total long-term liabilities | 1,066,455 | 1,618,977 |
| Total liabilities | 1,224,341 | 1,762,517 |
| COMMITMENTS AND CONTINGENCIES (NOTE 15) | ||
| SERIES B PREFERRED STOCK related party | 713,222 | 1,361,542 |
| SHAREHOLDERS' DEFICIT | ||
| Common stock, $0.0001 par value, 800,000,000 shares authorized, 340,592,001 and 337,132,374 shares outstanding on June 30, 2026 and December 31, 2025, respectively | 32 | 32 |
| Additional paid in capital | 1,406,730 | 427,722 |
| Accumulated deficit | (2,302,646) | (2,535,819) |
| Accumulated other comprehensive loss related party | (134,897) | (130,807) |
| Accumulated other comprehensive (loss) income | (3) | 10 |
| Total shareholders' deficit | (1,030,784) | (2,238,862) |
| Total liabilities, preferred stock and shareholders' deficit | 906,779 | 885,197 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands, except share and per share amounts)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income (loss) | 233,173 | (207,801) |
| Adjustment to reconcile net income to net cash used in operating activities | ||
| Stock-based compensation | 12,085 | 14,701 |
| Depreciation and amortization | 11,461 | 5,615 |
| Loss on debt extinguishment | — | 49,063 |
| Loss from write-down of property, plant and equipment | 76 | 766 |
| Amortization of right-of-use assets | 1,522 | 805 |
| Non-cash interest expense | 17,236 | 3,826 |
| Non-cash interest expense related parties | — | 10,291 |
| Change in fair value of debt related party | 8,766 | (25,682) |
| Change in fair value of warrants | (146,140) | 12,011 |
| Change in fair value of derivatives | (95,488) | — |
| Change in fair value of derivatives related parties | (216,684) | 41,869 |
| Loss on contingently issuable securities | 35,662 | — |
| Other | 669 | (6,317) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | (542) | (1,067) |
| Inventory | (16,577) | (90) |
| Accounts receivable | (1,398) | (424) |
| Accounts receivable related parties | (5,516) | — |
| Vendor deposits | (5,925) | (5,093) |
| Contract assets | (7,369) | (2,776) |
| Grant receivable | (22,798) | (4,306) |
| Accounts payable | 12,461 | 10,165 |
| Accrued expenses | 7,450 | (1,273) |
| Operating lease liabilities | 736 | (961) |
| Contract liabilities | (7,595) | 13,188 |
| Other | (7,018) | (1,556) |
| Net cash used in operating activities | (191,753) | (95,046) |
| Cash flows from investing activities | ||
| Investment in internally developed software | (76) | — |
| Purchases of property, plant and equipment | (70,475) | (11,959) |
| Net cash used in investing activities | (70,551) | (11,959) |
| Cash flows from financing activities | ||
| Principal payments on finance lease obligations | (45) | (22) |
| Proceeds from exercise of stock options | 74 | 319 |
| Proceeds from exercise of warrants | 3,280 | 7,829 |
| Proceeds from the issuance of May 2025 Convertible Notes, net of discount | — | 240,000 |
| Proceeds received from Credit and Securities Purchase Transaction, net related party | — | 38,475 |
| Payment of debt issuance costs | (566) | (2,836) |
| Payoff of notes payable related parties | — | (180,940) |
| Payment of debt extinguishment costs | — | (680) |
| Return of debt repurchase premium | — | 5,000 |
| Repayment of equipment financing facility | (122) | (912) |
| Proceeds from issuance of common stock | — | 81,075 |
| Repurchase of shares from employees for income tax withholding purposes | (813) | (488) |
| Net cash provided by financing activities | 1,808 | 186,820 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | — | (2) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (260,496) | 79,813 |
| Cash, cash equivalents and restricted cash, beginning of the period | 624,566 | 103,362 |
| Cash, cash equivalents and restricted cash, end of the period | 364,070 | 183,175 |
| Non-cash investing and financing activities | ||
| Accrued and unpaid capital expenditures | 21,919 | 13,872 |
| Accrued and unpaid investment in internally developed software | 632 | — |
| Accrued direct costs for equity-method investment | 530 | — |
| Warrants issuable for formation of joint venture | 151,034 | — |
| Paid-in kind interest added to principal | 2,217 | 4,576 |
| Accrued and unpaid debt issuance costs | 28 | 2,797 |
| Accrued and unpaid equity issuance costs | 2,188 | — |
| Down round deemed dividend | — | 4,456 |
| Remeasurement of preferred stock related party | (648,320) | (58,612) |
| Fixed assets acquired with finance lease | 24 | — |
| Right-of-use operating lease assets in exchange for lease liabilities | 1,829 | 520 |
| Reclassification of embedded derivative to additional paid in capital | 133,231 | — |
| Supplemental disclosures | ||
| Cash paid for interest | 7,147 | 127 |
Face scale: (In thousands, except share and per share amounts). Statements found on the EDGAR/iXBRL face print as filed; the rest are presentation-friendly mappings of filer XBRL tags, at the scale noted on each table. EPS as reported. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗