🔹 Revenue: $30.5M (Est. $39.6M) 🔴; 2x Q2, 35x YoY
🔹 GAAP EPS: -$4.91 (Est. -$0.24) 🔴 (driven by large non-cash fair value adjustments tied to stock price & note retirement)
🔹 Adj EBITDA Loss: ($52.7M) (slightly worse vs. Q2)
🔹 Gross Margin: Improved +92 bps vs. Q2 on better manufacturing efficiency
🔹 Cash: $126.8M (includes restricted)
FY25 Outlook
🔹 Full-Year Revenue: $150M–$160M (Reaffirmed)
Strategic & Commercial Wins
🔹 228 MWh order from Frontier Power (UK) for grid reliability deployments
🔹 750 MWh master supply agreement with MN8 Energy (US operator)
🔹 Strategic collaboration with Talen Energy to develop multi-GWh storage supporting AI data center grid demand
🔹 Commercial pipeline: $22.6B (+21% QoQ; +59% YoY)
🔹 Order backlog: $644M
Manufacturing & Capacity
🔹 Automation installed and scaling at Turtle Creek facility
🔹 Targeting 2 GWh/year production rate by end of 2025, 3x increase in Q4 run-rate
🔹 Announced Marshall Township facility expansion + new Pittsburgh software hub for DawnOS™ platform development
CEO Commentary
🔸 “AI infrastructure growth is accelerating grid demand. Eos provides the long-duration storage needed for reliability and energy independence.” – CEO Joe Mastrangelo