EROC

EROC

CIK 0002110029

Mid by assets Assets $978M as of Oct 11, 2026

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10-Q Filed Aug 12, 2026 · Period ending Jun 30, 2026

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8-K Filed Aug 11, 2026 · Period ending Aug 11, 2026

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8-K Filed Jun 15, 2026 · Period ending Jun 9, 2026

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S-1/A Filed Jun 5, 2026 Red flag

ERock (EROC) files S-1/A to sell 27.9M Class A shares at preliminary $21.50 midpoint, raising $600M gross for the company

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Latest financial statements

From 10-Q filed Aug 12, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.

As filed

Condensed Consolidated Statements of Operations (Unaudited)

(in thousands, except share and per share amounts)

Description Three months ended June 30, 2026 Three months ended June 30, 2025 Six months ended June 30, 2026 Six months ended June 30, 2025
Power system sales product revenues 16,163 43,319 21,320 49,391
Power system sales installation services revenues 10,351 14,077 21,116 22,037
Power system sales revenues 26,514 57,396 42,436 71,428
Ongoing services revenues 13,364 11,062 29,178 21,138
Total revenues 39,878 68,458 71,614 92,566
Cost of power system sales product revenues, excluding depreciation and amortization 12,112 34,360 15,892 39,788
Cost of power system sales installation services revenues, excluding depreciation and amortization 8,058 8,446 16,288 14,295
Cost of power system sales revenues, excluding depreciation and amortization 20,170 42,806 32,180 54,083
Cost of ongoing services revenues, excluding depreciation and amortization 10,968 9,620 24,201 18,756
Total cost of revenues, excluding depreciation and amortization 31,138 52,426 56,381 72,839
General and administrative expenses 27,280 15,726 48,223 32,592
Depreciation and amortization expense 1,308 808 2,609 1,864
Loss from operations (19,848) (502) (35,599) (14,729)
Interest (expense) income (2,392) 7,681 (3,844) 5,703
Loss on debt extinguishment (48,774) (15,244) (48,774) (15,244)
Other income, net 2,921 91 3,473 376
Loss before income taxes (68,093) (7,974) (84,744) (23,894)
Income tax (expense) benefit 374 (11) (187) (28)
Net loss (67,719) (7,985) (84,931) (23,922)
Deemed dividend related to Series A preferred units (657) (770) (1,473) (1,525)
Net loss attributable to common units (68,376) (8,755) (86,404) (25,447)
Net loss applicable to pre-IPO period (52,836) (70,048)
Net loss attributable to noncontrolling interest (11,900) (11,900)
Net loss attributable to ERock, Inc. (2,983) (2,983)
Net loss per common share
Basic (0.06) (0.06)
Diluted (0.06) (0.06)
Weighted average common shares outstanding
Basic 48,174,023 48,174,023
Diluted 48,174,023 48,174,023

Condensed Consolidated Balance Sheets (Unaudited)

(in thousands, except unit and share value amounts)

Description June 30, 2026 December 31, 2025
Assets
Current assets:
Cash and cash equivalents 626,636 108,097
Accounts receivable, net 101,790 33,762
Inventory 106,059 43,681
Contract assets 10,195 15,964
Prepaid expenses 22,611 8,799
Other current assets 14,697 6,567
Total current assets 881,988 216,870
Property and equipment, net 34,135 27,545
Right-of-use assets, net 23,975 10,832
Restricted Cash 34,225 —
Other noncurrent assets 3,683 2,649
Total assets 978,006 257,896
Liabilities and Equity
Current liabilities:
Accounts payable 46,904 16,549
Accrued liabilities and other payables 23,391 26,235
Contract liabilities 528,405 170,025
Operating lease liabilities 4,896 3,343
Deferred income 16,722 24,598
Other current liabilities 491 344
Total current liabilities 620,809 241,094
Notes payable — 59,984
Noncurrent lease liabilities 24,875 8,019
Noncurrent deferred income 75,558 10,819
Other noncurrent liabilities 192 3,407
Total liabilities 721,434 323,323
Commitments and contingencies (Note 17)
Mezzanine equity:
Series A preferred units 163,975 units authorized, issued and outstanding at December 31, 2025) — 46,690
Total mezzanine equity — 46,690
Members’ equity:
Common units, 216,002 units issued and outstanding at December 31, 2025 — (112,155)
Total members’ equity — (112,155)
Stockholders’ equity:
Class A common stock, $0.01 par value; 800,000,000 shares authorized, 48,174,023 shares issued and outstanding at June 30, 2026 482 —
Class B common stock, $0.01 par value; 350,000,000 shares authorized, 171,226,057 shares issued and outstanding at June 30, 2026 1,712 —
Additional paid-in capital 62,467 —
Accumulated deficit (15,432) —
Noncontrolling interest 207,343 38
Total stockholders’ equity 256,572 38
Total liabilities and equity 978,006 257,896

Condensed Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

Description Six months ended June 30, 2026 Six months ended June 30, 2025
Cash flows from operating activities
Net loss (84,931) (23,922)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization expense 2,609 1,864
Amortization of deferred financing costs 2,386 2,858
Amortization of operating lease ROU asset 2,332 1,609
Loss on debt extinguishment 48,774 15,244
Amortization of sales commissions and fees 589 74
Paid-in-kind interest expense 2,431 3,454
Interest paid on long term debt (3,531) —
Stock-based compensation 3,738 2,569
Changes in operating assets and liabilities:
Accounts receivable, net (64,028) 6,120
Inventory (62,378) 27,231
Contract assets 5,769 417
Prepaid expenses (13,812) 900
Other current assets (8,718) (4,958)
Other noncurrent assets (2,506) 6,990
Accounts payable 29,998 (15,123)
Accrued liabilities and other payables (9,675) (10,841)
Contract liabilities 358,380 7,404
Operating lease liabilities (1,065) (1,594)
Other noncurrent liabilities 62,577 (19,861)
Net cash provided by operating activities 268,939 436
Cash flows from investing activities
Capital expenditures (8,835) (2,411)
Net cash used in investing activities (8,835) (2,411)
Cash flows from financing activities
Proceeds received from initial public offering, net of underwriter and offering costs 554,000 —
Repurchases of Class B Units from pre-IPO owners (156,861) —
Repurchases of Class A common stock from pre-IPO owners (27,806) —
Other costs related to initial public offering (225) —
Cash paid for fractional shares in connection with warrant conversion (32) —
Proceeds from notes payable — 25,000
Payments of notes payable (74,657) (25,771)
Payments of deferred financing costs (1,759) (420)
Net cash provided by (used in) financing activities 292,660 (1,191)
Net change in cash and cash equivalents 552,764 (3,167)
Cash, cash equivalents and restricted cash
Beginning of period 108,097 21,913
End of period 660,861 18,746
Supplemental disclosures of cash flow information
Interest paid 4,678 3,611
Supplemental noncash financing and investing activities
Conversion of convertible notes into common units 36,266 —
Accrued capital expenditures 549 315

Amounts as printed on the EDGAR/iXBRL face — (in thousands, except share and per share amounts); (in thousands, except unit and share value amounts); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗

View all filings for EROC on SEC EDGAR