ESS Tech reports Q1 EPS ($1.50), consensus ($1.21)

Reports Q1 revenue $599,000, consensus $3.45M. “We continue to moderate activity in the first half of 2025 to manage liquidity in the near-term, support capital raising measures, and give us time to implement fully our turnaround and strategic pivot that was announced last quarter. We are excited about the significant commercial activity driven by our Energy Base launch after just a few short months. We have been awarded a 50 MWh project that is now in contracting and our extended duration product is supporting significant proposal engagement, with submissions representing approximately 1.2 GWh over the last two quarters,” said Kelly Goodman, interim CEO of ESS. “Our two Portland General Electric systems are continuing grid operation and running daily cycling, having transacted another 158 MWh in energy, giving us significant hands-on learnings from the ability to operate systems at commercial scale on our own site. We will continue to aggressively pursue available options to extend our runway in a challenging capital markets environment.”