Eos Energy Enterprises Expects 2Q23 Revenue Of $0.2M; Sees Gross Margin Improve By 20%-50% QoQ
Portfolio Pulse from Benzinga Newsdesk
Eos Energy Enterprises anticipates a 2Q23 revenue of $0.2 million as it shifts manufacturing to the Eos Z3™ battery. The company also expects its gross margin to improve by 20%-50% QoQ. As of June 30, 2023, the cash balance is projected to be $23.2 million, with booked orders worth $86.9 million for the first half of 2023.
July 28, 2023 | 5:45 am
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Eos Energy Enterprises' transition to Eos Z3™ battery manufacturing is expected to result in a 2Q23 revenue of $0.2 million and a QoQ gross margin improvement of 20%-50%. The company's cash balance is projected to be $23.2 million, with $86.9 million in booked orders for 1H23.
The company's transition to Eos Z3™ battery manufacturing is expected to boost its revenue and gross margin, indicating a positive financial outlook. This, coupled with a healthy cash balance and substantial booked orders, suggests a positive short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100