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Eos Energy Enterprises
(NASDAQ:EOSE)
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Rating:46Neutral
Price Target:
$3.50
▲(0.86% Upside)
Action:Reiterated
Date:08/07/26
EOSE’s score is held down primarily by weak financial performance (deeply negative margins, large losses, negative equity and substantial cash burn). Technicals also remain bearish with the stock well below major moving averages and a negative MACD. Offsetting these, the latest earnings call highlighted strong top-line/backlog momentum, solid cash on hand, and a specific margin-improvement roadmap, but profitability is still far from proven.
Positive Factors
Large backlog and multi-hour pipeline
A substantial, long-duration pipeline and an ~$807M backlog provide durable demand visibility and optionality to convert sales into revenues over the next 2–6 months. The >8-hour exposure targets differentiated, less commoditized projects that can sustain higher margins and longer-term commercial relationships.
Negative Factors
Stressed balance sheet with high leverage
High absolute debt and negative equity indicate limited loss-absorbing capacity and constrained financial flexibility. Over the next months this increases refinancing and covenant risk, making operations more reliant on external capital or JV structures to fund growth and absorb execution shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Large backlog and multi-hour pipeline
A substantial, long-duration pipeline and an ~$807M backlog provide durable demand visibility and optionality to convert sales into revenues over the next 2–6 months. The >8-hour exposure targets differentiated, less commoditized projects that can sustain higher margins and longer-term commercial relationships.
Read all positive factors
Eos Energy Enterprises (EOSE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.54B
Dividend YieldN/A
Average Volume (3M)24.87M
Price to Earnings (P/E)―
Beta (1Y)2.39
Revenue Growth533.87%
EPS Growth31.49%
CountryUS
Employees787
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-4.52
Shares Outstanding364,167,760
10 Day Avg. Volume26,584,008
30 Day Avg. Volume24,871,868
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)-3.41
Price to Sales (P/S)26.17
P/FCF Ratio-11.28
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$6.67Price Target Upside92.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)-1.04
Revenue Forecast (FY)$309.46M
Eos Energy Enterprises Business Overview & Revenue Model
Company Description
Eos Energy Enterprises, Inc., a U.S.-based company, focuses on the creation, production, and implementation of battery storage solutions. These systems are designed for diverse clients across the utility, commercial and industrial, and renewable e...
How the Company Makes Money
Eos primarily makes money by selling energy storage systems and related components, generally structured as contracts to deliver battery modules and complete battery energy storage systems (BESS). Revenue is recognized as products are delivered an...
Eos Energy Enterprises Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call balanced material near-term challenges (large GAAP losses driven by mark-to-market volatility, deeply negative adjusted gross margins, and a deliberate near-term production trade-off to consolidate manufacturing) with strong operational progress and a clear path to margin improvement. Management reported record revenue, record backlog and cube shipments, large YoY and sequential production and cost improvements (material and labor), a healthy cash balance ($364M), a sizable $24.6B pipeline (112 GWh) with differentiated multi-hour exposure, and a detailed plan (Thorn Hill consolidation + Frontier Power USA) to convert pipeline into operating assets and improve margins. Given the magnitude of operational gains, production scale, pipeline growth and a concrete cost-out roadmap that management expects to drive large margin improvement over the next 12 months, the positive execution momentum and strategic initiatives outweigh the current near-term financial losses and risks.Positive Updates
Record Revenue and Strong Top-Line Momentum
Q2 revenue of $68.8M, up 351% year-over-year and 21% sequentially. First half revenue just under $126M, which already exceeds total 2025 revenue. Management tightened 2026 revenue outlook to $300M–$350M and described a clear H2>H1 shape with Q4>Q3.
Negative Updates
Near-term Revenue Trade-off from Manufacturing Consolidation
Management is accelerating consolidation of operations into Thorn Hill which will take Line 1 down for upgrade; this decision reduces near-term production and explains the narrower 2026 revenue guidance upper end ($300M–$350M). Thorn Hill Line 2 contributed only ~1% of Q2 production, creating temporary underutilization and fixed-cost absorption pressure.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Strong Top-Line Momentum
Q2 revenue of $68.8M, up 351% year-over-year and 21% sequentially. First half revenue just under $126M, which already exceeds total 2025 revenue. Management tightened 2026 revenue outlook to $300M–$350M and described a clear H2>H1 shape with Q4>Q3.
Read all positive updates
Company Guidance
The company tightened 2026 revenue guidance to $300–$350 million (low end ~2.5x 2025 revenue and >19x 2024), with H2 > H1, Q4 > Q3 and the low end implying roughly $50 million of second‑half growth over the $126 million delivered in H1; Q2 revenue was $68.8 million (up 351% YoY, 21% sequentially) on record backlog (~$807 million) and record shipments, ending the quarter with $364 million cash; operationally Turtle Creek reached an annualized June throughput of ~1.5 GWh, H1 cube output was 17% above all of 2025 (matching 2025 volume in 164 days) with scrap dollars down 63%, Line 2 cycle times ~10% faster (bipolar 11% faster) while Line 2 contributed ~1% of Q2 production as Thorn Hill ramps toward 24/7 to hit the upside of guidance; fleet metrics include 6.5 GWh cumulative discharge (up ~0.5 GWh since last call), >3.9 million cycles (Z3 >1.1 million), fleet average round‑trip efficiency 78% (20–100–20 SoC) with top‑end tests >90% and field durations 2.5–14 hours; financials reflect a Q2 adjusted gross loss of $42.9 million (adjusted gross margin -62%), gross loss $48.8 million, net loss $276 million and adjusted EBITDA loss $71.4 million (-104% margin), and management outlined a plan to drive >72 percentage points of adjusted gross margin improvement over 12 months (targeting ~25 p.p. material cost reduction, ~20 p.p. conversion cost, ~20 p.p. project/field service and ~8 p.p. yield gains) plus an expected 10–15% conversion‑cost uplift from consolidating lines (≈9‑month payback) as the path to profitability and positive adjusted gross margin.Eos Energy Enterprises Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
8
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 214.25M | 114.20M | 15.61M | 16.38M | 17.92M | 4.60M |
| Gross Profit | -181.57M | -143.84M | -83.26M | -73.42M | -135.34M | -41.88M |
| EBITDA | -108.86M | -930.30M | -158.22M | -136.07M | -207.60M | -115.48M |
| Net Income | -528.67M | -969.65M | -685.87M | -229.51M | -229.81M | -124.22M |
Balance Sheet | ||||||
| Total Assets | 906.78M | 885.20M | 260.32M | 186.49M | 106.79M | 169.18M |
| Cash, Cash Equivalents and Short-Term Investments | 349.07M | 602.63M | 74.29M | 69.47M | 17.08M | 104.83M |
| Total Debt | 640.83M | 834.69M | 320.40M | 208.71M | 181.07M | 113.52M |
| Total Liabilities | 1.22B | 1.76B | 1.33B | 297.29M | 239.50M | 136.73M |
| Stockholders Equity | -317.56M | -877.32M | -1.07B | -110.80M | -132.71M | 32.45M |
Cash Flow | ||||||
| Free Cash Flow | -420.76M | -264.97M | -187.09M | -174.48M | -216.93M | -131.74M |
| Operating Cash Flow | -308.46M | -211.19M | -153.94M | -145.02M | -196.86M | -116.15M |
| Investing Cash Flow | -113.28M | -54.69M | -33.19M | -29.46M | -17.17M | -23.34M |
| Financing Cash Flow | 602.64M | 787.09M | 205.83M | 227.92M | 139.54M | 123.32M |
Eos Energy Enterprises Risk Analysis
Eos Energy Enterprises disclosed 49 risk factors in its most recent earnings report. Eos Energy Enterprises reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Eos Energy Enterprises Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
53 Neutral | $1.73B | -3.10 | -31.69% | ― | 29.71% | 11.38% | |
52 Neutral | $3.20B | -1.69 | -176.19% | ― | 10.59% | 41.83% | |
51 Neutral | $353.77M | 5.35 | 11.54% | ― | -13.03% | ― | |
50 Neutral | $1.79B | -41.07 | -34.75% | ― | 143.61% | 13.94% | |
49 Neutral | $1.03B | -5.54 | -0.32% | ― | 34.88% | -18.59% | |
46 Neutral | $1.54B | -0.92 | 55.63% | ― | 533.87% | 31.49% |
* Industrials Sector Average
EOSE
Eos Energy Enterprises
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Eos Energy Enterprises Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Eos Energy forms major preferred equity joint venture
Positive
Aug 6, 2026
On August 4, 2026, Eos Energy Enterprises, Cerberus affiliate CCM Frontier, and Hudson Bay Capital affiliate HBC entered into an amended and restated LLC agreement for Frontier Power USA Parent, LLC, creating a preferred equity structure with Clas...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Eos Energy Completes Rights Offering to Fund Projects
Positive
Jul 23, 2026
On July 23, 2026, Eos Energy Enterprises reported the expiration and preliminary results of a rights offering that closed on July 21, 2026, under which it had distributed rights to acquire 27,367,171 units priced at $5.481 each. Investors subscrib...
Business Operations and StrategyExecutive/Board Changes
Eos Energy Reshapes Board and Legal Leadership Team
Positive
Jul 9, 2026
On July 8 and 9, 2026, Eos Energy Enterprises reshaped its board and legal leadership as it scales manufacturing and commercial deployment of its American-made long-duration energy storage systems. Greg Nixon resigned as a preferred stock director...
Private Placements and FinancingRegulatory Filings and Compliance
Eos Energy launches Nasdaq-traded rights offering for shareholders
Neutral
Jul 2, 2026
On July 2, 2026, Eos Energy Enterprises commenced a previously announced rights offering to holders of its common stock and specified warrants, following the effectiveness of a shelf registration with the SEC filed in May 2026. Eligible holders as...
Private Placements and Financing
Eos Energy Enterprises Completes Registered Direct Equity Offering
Neutral
Jul 1, 2026
On July 1, 2026, Eos Energy Enterprises issued 13,683,634 shares of common stock and 6,004,378 accompanying warrants in a registered direct offering to Hudson Bay Master Fund Ltd., with each share sold together with 0.4388 of a warrant at an aggre...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Eos Energy gains key consents for Frontier financing
Positive
Jun 30, 2026
On June 26, 2026, Eos Energy Enterprises obtained a second limited consent from the U.S. Department of Energy under its existing loan guarantee agreement, enabling the company to offer common stock, issue related securities and warrants, and use t...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and FinancingShareholder Meetings
Eos Energy Shareholders Approve Proposals and Share Increase
Positive
Jun 5, 2026
At its June 3, 2026 annual stockholders’ meeting, Eos Energy Enterprises secured approval for all five proposals on the ballot, with about 77.6% of outstanding shares represented. Shareholders re-elected Class III directors Jeff Bornstein, C...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Eos Energy Forms Frontier Power USA Battery Joint Venture
Positive
May 13, 2026
On May 12–13, 2026, Eos Energy Enterprises detailed plans to form Frontier Power USA, a U.S. long-duration battery project platform jointly owned with Cerberus affiliate CCM Frontier and capitalized with $100 million from Cerberus plus an an...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.