Eos Energy Reports Preliminary Q3 2026 Revenue Growth and Gross Margin Improvement

Eos Energy Enterprises, Inc. announced preliminary financial results for the third quarter ended September 30, 2026, indicating growth in revenue and a significant improvement in gross margins. The company reported revenue between $82 million and $83 million for the quarter. This figure represents sequential growth of approximately 19% to 21% and year-over-year growth of approximately 169% to 172%. The increase in revenue was driven by a 23% rise in shipments, supported by production scaling at the company's second manufacturing line at its Thorn Hill facility.

Gross margin for the quarter is expected to be a loss of 53% to 55%. This represents an improvement of approximately 16 to 18 percentage points compared to the second quarter of 2026. Eos noted that this is the eighth consecutive quarter of gross margin improvement. The company attributes the improvement to higher production volumes and lower conversion costs per unit. Management stated that continued staffing and training of employees to support additional shifts on Line 2 at Thorn Hill will drive further margin expansion.

As of September 30, 2026, Eos reported total cash, including restricted cash, of approximately $344 million. This figure includes $114 million of operating cash inflows and an additional $87 million advance under the Department of Energy loan facility. Capital expenditures for the quarter totaled approximately $35 million, primarily related to the completion of Line 2 automation. The company’s backlog as of September 30, 2026, was approximately $765 million, representing approximately 3.2 GWh.

Regarding full-year 2026 guidance, Eos expects revenue to fall in the lower half of its previously stated range of $300 million to $350 million. The company anticipates achieving this forecast with the addition of the final shift to bring Thorn Hill to 24-hour operation during the fourth quarter. Eos will report its full third quarter 2026 financial results before the U.S. market opens on November 5, 2026, followed by a conference call at 8:30 a.m. Eastern Time.