NYSE$GWH
Ess Tech Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Achieved Revenue Recognition on Energy Warehouses and Announced Partnership with Energy Storage Industries Asia Pacific and Energy Center Deal with Tampa Electric Company
ESS Tech, Inc. reported revenue of $686 thousand in Q2 2022, marking a significant milestone. The company also secured a partnership with Energy Storage Industries Asia Pacific and a deal with Tampa Electric Company.
- Recognized $686 thousand in revenue for three Energy Warehouses™ in the second quarter.
- Ramped our second semi-automated manufacturing line in the second quarter, which doubles our annual production capacity to 500 MWh.
- Completed delivery of all six of the Energy Warehouse™ units ordered by SDG&E in the second quarter.
- Entered into a relationship with Energy Storage Industries Asia Pacific, or ESI, where ESS will supply Energy Warehouses™.
Headline financials
Revenue & EPS history
ESS Tech · Revenue · Quarterly
$686K
Revenue by segment
ESS Tech · $282K total across 1 segment · Q2 2022
- Revenue - Related Parties$282K—100.0%
Forward guidance
While operational initiatives to lower costs and increase capacity remain on track, the company has encountered supply challenges with certain vendors that may impact their ability to deliver to their plan of 40 to 50 Energy Warehouses™ this year. Second semi-automated manufacturing line is now fully operational, adding another 250 MWh of annual production capacity. Additionally, the development of customer success team is progressing well and they are already seeing incremental value in customer deployments.
Tailwinds
- Second semi-automated manufacturing line is now fully operational
- Second line adds another 250 MWh of annual production capacity
- Customer success team development progressing well
- Seeing incremental value in customer deployments
Headwinds
- Encountered supply challenges with certain vendors
- Challenges may impact ability to deliver plan of 40 to 50 Energy Warehouses™ this year
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 Q2 2022
-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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