Filing Flows › ESS Tech (GWH) › Q1 2025
ESS Tech (GWH) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
ESS Tech (GWH) reported revenue of $599K for the first quarter 2025 (Q1 2025), -78% from a year earlier and -79% from the quarter before.
ESS Tech, Q1 2025: revenue $599K (-78% year over year), net loss $18.0M, operating cash flow −$18.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $599K | -79% | -78% |
| Operating profit | −$18.1M | — | — |
| Net earnings | −$18.0M | — | — |
| Operating cash flow | −$18.2M | — | — |
What changed
Revenue was $599K in Q1 2025, down 78% year over year and down 79% from the previous quarter. Product revenue was the largest line at 68% of revenue. Product revenue lost $2.2M year over year (down 85%), 104% of the total change.
Operating costs exceeded revenue by $18.1M, an operating margin of -3029.4%. Total costs fell 16% while revenue fell 78%. The quarter ended with a net loss of $18.0M, narrower than the previous quarter's $23.5M loss.
Operating cash flow was −$18.2M. Non-cash charges added back $1.5M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $3.0M. Capital expenditures of $762K exceeded it, leaving free cash flow of −$19.0M.
Questions
What was ESS Tech's revenue in the first quarter 2025?
ESS Tech (GWH) reported revenue of $599K for the first quarter 2025 (Q1 2025), -78% from a year earlier and -79% from the quarter before.
Source: ESS Tech 10-Q on SEC EDGAR.