NYSE$GWH
Ess Tech Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Announced partnership with Coldwell Solar and faced project delays that limited shipments and revenue recognition.
ESS Tech announced Q1 2023 financial results, reporting revenue of $372 thousand. The company built nine Energy Warehouses and faced challenges including project delays that affected shipments and revenue recognition. They are confident that this timing issue will be resolved.
- ESS built nine Energy Warehouses in Q1, continuing strong production pace.
- ESS LDES units received certification to the Underwriters Laboratories’ (UL) 1973 standard.
- Entered into a partnership with Coldwell Solar to install three Energy Warehouses in a microgrid for wineries in Mendocino County, CA.
- ESS has been awarded over 20 additional patents for its iron flow battery technology since the beginning of 2022, bringing the total to 62 worldwide.
Headline financials
Revenue & EPS history
ESS Tech · Revenue · Quarterly
$372K
Revenue by segment
ESS Tech · $1 total across 1 segment · Q1 2023
- Revenue - Related Parties$1—100.0%
Forward guidance
The company's operational initiatives for 2023 to optimize manufacturing supply base and processes, drive down costs to improve leverage, and conserve cash balance remain on track.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-4.1%
Avg return
Earnings day
-9.7%
Avg return
5 days after
-16.4%
Avg return
30 days after
19%
4 / 21 earnings
Positive
+31.3%
Q1 2022
Best reaction
-34.5%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.6% | -33.1% | -21.8% | |
| Q4 2025 | -4.4% | -3.7% | -11.0% | |
| Q3 2025 | -34.5% | -40.7% | -50.8% | |
| Q1 2025 | -15.2% | -28.1% | -58.6% | |
| Q4 2024 | -12.6% | -27.0% | -27.6% | |
| Q3 2024 | -19.5% | -46.0% | -44.1% | |
| Q2 2024 | -12.9% | -16.5% | -45.8% | |
| Q1 2024 | -10.9% | -16.0% | -18.5% | |
| Q4 2023 | -5.8% | -19.5% | -17.8% | |
| Q3 2023 | -7.2% | -11.2% | -6.4% | |
| Q2 2023 | -4.1% | -20.9% | -11.0% | |
| Q1 2023 | +13.8% | +0.0% | +22.9% | |
| Q4 2022 | -8.2% | -13.7% | -23.6% | |
| Q3 2022 | -4.9% | -9.3% | -13.1% | |
| Q2 2022 | +13.5% | +18.3% | -6.9% | |
| Q1 2022 | +31.3% | +46.4% | -14.1% | |
| Q4 2021 | +12.1% | +25.6% | +43.2% | |
| Q2 2021 | -12.5% | -8.9% | -27.6% | |
| Q3 2021 | -1.1% | -0.3% | -13.1% | |
| Q1 2021 | +0.0% | +0.5% | +0.7% | |
| Q4 2020 | -0.9% | -0.4% | -0.1% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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