Full Q3 results and conference call on November 5, 2026 will provide audited figures and management's detailed outlook. Watch for whether the company can achieve positive gross margins in Q4 as it consolidates manufacturing at Thorn Hill and adds the final shift for 24-hour operation.
Price Chart
Executive Summary
Eos Energy Enterprises released preliminary Q3 2026 results showing revenue of $82M-$83M (169-172% YoY growth) and a GAAP gross margin loss of 53-55%, an improvement of 16-18 percentage points sequentially. The company guided full-year 2026 revenue to the lower half of its $300M-$350M range, and reported $765M backlog and $344M cash. The preliminary nature and wide gross margin losses temper the strong top-line growth.
Key Financial Metrics
Key Facts
- Preliminary Q3 2026 revenue of $82M-$83M, representing ~169-172% YoY growth and ~19-21% sequential growth
- GAAP gross margin loss of 53-55%, improving 16-18 percentage points from Q2 2026
- Full-year 2026 revenue guided to lower half of $300M-$350M range
- Backlog of ~$765 million (3.2 GWh) as of September 30, 2026
- Total cash including restricted cash ~$344 million as of September 30, 2026
- Operating cash inflows of ~$114M driven by customer deposits, milestone receipts, and tax credit collections
- Additional $87M advance under DOE loan facility during the quarter
- Capital expenditures of ~$35M primarily for Line 2 automation
- Shipments increased ~23% quarter over quarter
- Line 2 contributed ~17% of total battery production, first-pass yield aligned with Line 1
- Six purchase orders received from six different customers during the quarter
- Eighth consecutive quarter of gross margin improvement
Financial Impact
Revenue growth of 169-172% YoY is substantial, but gross margins remain deeply negative at -53% to -55%. Full-year guidance to the lower half of the $300M-$350M range implies Q4 revenue of roughly $52M-$103M, a potential sequential decline from Q3's $82M-$83M.
Risk Factors
- Preliminary results are subject to change upon completion of quarter-end closing procedures
- Gross margins remain deeply negative at -53% to -55%, though improving
- Full-year 2026 revenue guided to lower half of $300M-$350M range, implying potential Q4 sequential decline
- Manufacturing consolidation and ramp-up risks at Thorn Hill facility
- Dependence on DOE loan facility and customer deposits for cash generation
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-066229 |
| Document: q326prerelease_101926xfo.htm | 0001628280-26-066229 |
| Document: 0001628280-26-066229-index-headers.html | 0001628280-26-066229 |
| Document: 0001628280-26-066229-index.html | 0001628280-26-066229 |
| Document: 0001628280-26-066229.txt | 0001628280-26-066229 |
| 8-K Data (Synthetic) | 0001628280-26-066229 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | 8-K | $1.81 $1.62 | ▼ −10.50% | ▼ −10.35% | $1.83 (+1.09%) |
Oct 19, 2026 8d ago | Press Release | $1.81 $1.70 | ▲ +6.35% | ▲ +6.21% | $1.83 (−1.09%) |
Sep 16, 2026 5w ago | 144 | $3.98 $3.25 | ▼ −18.47% | ▼ −19.07% | $1.83 (−54.03%) |
Sep 15, 2026 6w ago | Insider Cluster | $4.07 $4.06 | ▲ +0.25% | ▲ +2.61% | $1.83 (+55.04%) |
Sep 15, 2026 6w ago | Insider Cluster | $4.07 $4.06 | ▼ −0.25% | ▼ −2.36% | $1.83 (−55.04%) |
Sep 14, 2026 6w ago | 8-K | $3.82 $4.07 | ▲ +6.54% | ▲ +6.44% | $1.83 (−52.10%) |
Aug 27, 2026 8w ago | Press Release | $3.42 $3.61 | ▲ +5.56% | ▲ +6.33% | $1.83 (−46.50%) |
Aug 5, 2026 11w ago | 8-K | $3.82 $4.24 | ▲ +10.99% | ▲ +10.64% | $1.83 (−52.10%) |
Aug 5, 2026 11w ago | Press Release | $3.82 $4.24 | ▲ +10.99% | ▲ +10.64% | $1.83 (−52.10%) |
Jul 28, 2026 12w ago | Insider Cluster | $3.14 $3.82 | ▲ +21.66% | ▲ +16.13% | $1.83 (−41.73%) |
US Market Status
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