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ESS Tech Inc. Common Stock Earnings Recaps

GWH Information Technology 2 recaps
Next earnings: November 12, 2026 (estimated) · full calendar
Q2 2026 Aug 15, 2026

ESS Tech’s shares declined 1.8% following the quarter as investors remained cautious despite ramping sodium-ion opportunities, reflecting tempered confidence amid early-stage commercialization and ongoing execution risks.

Key takeaways
  • The company is accelerating sodium-ion battery system development in response to strong early demand, with identified opportunities nearing $1 billion.
  • Signed a letter of intent with Alsym Energy to secure 8.5 gigawatt hours of U.S.-made sodium-ion cells, expanding capacity for short- and medium-duration applications.
  • Launched the Bridge system, a 1.2-megawatt hour modular sodium-ion battery targeting data centers, critical infrastructure, and utilities.
  • The underlying iron flow technology continues to support long-duration storage needs, addressing applications unsuitable for lithium-ion solutions.
  • Despite progress, the business remains in early commercialization stages with inherent operational and financial risks, including control over costs and project execution.
Full recap
Q3 2025 Nov 14, 2025

ESS Tech, Inc. reported a significant shift toward its energy-based platform, with a major pilot project announced alongside an important capital raise, setting the stage for future growth.

Key takeaways
  • Revenue for Q3 2025 was $200,000, down from $2.4 million in Q2, reflecting the transition to the new energy-based platform.
  • Successfully secured a 50 MWh pilot project with Salt River Project, marking the first commercial deployment of the new technology.
  • Completed a $40 million financing with Yorkville Advisors, enhancing financial stability and paving the way for upcoming manufacturing and project execution.
  • Launched a $75 million at-the-market equity program to support future growth and operational needs efficiently.
  • 100% of active business opportunities now center around the energy-based platform, indicating strong market interest and alignment with strategic goals.
Full recap

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