NYSE$GWH
Ess Tech Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Announced third quarter 2024 financial results and installed and commissioned second energy center.
ESS Tech reported its Q3 2024 financial results, highlighting progress on key operational initiatives but facing revenue ramp delays due to funding completion delays with their Australian partner. They are optimistic about achieving $9 to $11 million in revenue for the year.
- Executed credit agreement with the Export-Import Bank of the United States for the first $20 million tranche of a $50 million funding package.
- Built and installed the second Energy Center for Portland General Electric, currently in testing with final hand-off expected in Q4.
- Started building and expect to start shipping first commercial EC products in the fourth quarter of 2024.
- Executed a 1-for-15 reverse split, bringing the Company back into compliance with NYSE listing requirements.
Headline financials
Revenue & EPS history
ESS Tech · Revenue · Quarterly
$359K
Revenue by segment
ESS Tech · $1 total across 1 segment · Q1 2023
- Revenue - Related Parties$1—100.0%
Forward guidance
Company expects to achieve $9 to $11 million in revenue for the 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 Q3 2024
-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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro