Filing Flows › Technology › ESS Tech (GWH)
ESS Tech (GWH) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · ESS Tech (GWH) Q2 2026 earnings results →
Q2 2026 Revenue down 97% year over year to $73K
ESS Tech made $73K in Q2 2026 (-97% Y/Y): Product revenue $69K, Service revenue $4K. Operating margin n/m, net loss $15.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $73K in Q2 2026, down 97% year over year and down 43% from the previous quarter. Product revenue was the largest line at 95% of revenue. Product revenue lost $2.3M year over year (down 97%), 99% of the total change.
Operating costs exceeded revenue by $15.1M, an operating margin of -20731.5%. Total costs grew 9% against a revenue fall of 97%. The fastest-growing cost line was Research & development (+55%). The quarter ended with a net loss of $15.6M, narrower than the previous quarter's $15.9M loss.
Operating cash flow was −$8.9M. Non-cash charges added back $698K of depreciation and amortization and $681K of share-based compensation. Working capital and other items added $5.2M. Capital expenditures of $502K exceeded it, leaving free cash flow of −$9.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 11, 2026 | $73K | -97% | n/m | −$15.6M | −$8.9M |
| Q1 2026 | 10-Q | May 7, 2026 | $128K | -79% | n/m | −$15.9M | −$13.5M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $214K | -40% | n/m | −$10.4M | −$5.8M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $2.4M | +578% | -490.1% | −$11.1M | −$12.4M |
| Q1 2025 | 10-Q | May 15, 2025 | $599K | -78% | n/m | −$18.0M | −$18.2M |
| Q4 2024 | 10-K | Mar 31, 2025 | $2.9M | +2% | -824.5% | −$23.5M | −$20.5M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About ESS Tech
Unless the context otherwise requires, all references in this Annual Report on Form 10-K to “ESS,” “we,” “us,” “our,” or the “Company” refer to ESS Tech, Inc. ESS Tech, Inc. (“Legacy ESS”) was founded in 2011 and became a publicly traded company through a business combination with a special purpose acquisition company named ACON S2 Acquisition Corp. (“STWO”) which changed its name to ESS Tech, Inc. upon closing (the “Business Combination”). As a result of the Business Combination, Legacy ESS survived and became a wholly owned subsidiary of ESS Tech, Inc. On March 31, 2024, Legacy ESS merged with ESS Tech, Inc. leaving ESS Tech, Inc. as the successor legal entity.
In its own words, from its 10-K, filed Mar 5, 2026.
ESS Tech against its Miscellaneous Electrical Machinery, Equipment & Supplies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -97% against the peers' median +8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GWH ESS Tech | Q2 2026 | $73K | -97% | n/m |
| ENS EnerSys | Q1 FY27 | $936M | +5% | 16.2% |
| ATKR Atkore | Q3 FY26 | $795M | +8% | 8.1% |
| SPB Spectrum Brands Holdings | Q3 FY26 | $753M | +8% | 2.1% |
| ENR Energizer Holdings | Q3 FY26 | $734M | +1% | 6.8% |
| FLNC Fluence Energy | Q3 FY26 | $650M | +8% | -6.7% |
| NOVT Novanta | Q2 2026 | $266M | +10% | 6.8% |
| CHPT ChargePoint Holdings | Q2 FY27 | $116M | +18% | -29.3% |
| MVST Microvast Holdings | Q2 2026 | $87.3M | -4% | -2.0% |
Source: ESS Tech 10-Q on SEC EDGAR · CIK 1819438 · Miscellaneous Electrical Machinery, Equipment & Supplies
More on GWH
History
Every quarter: Q2 2026 results · Q1 2026 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results