Filing Flows › ESS Tech (GWH) › Q4 2024
ESS Tech (GWH) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 31, 2025
ESS Tech (GWH) reported revenue of $2.9M for the fourth quarter 2024 (Q4 2024), +2% from a year earlier and +694% from the quarter before. Operating margin was -824.5%, net loss $23.5M (823.8% of revenue).
ESS Tech, Q4 2024: revenue $2.9M (+2% year over year), operating margin -824.5%, net loss $23.5M, operating cash flow −$20.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9M | +694% | +2% |
| Operating profit | −$23.5M | — | — |
| Net earnings | −$23.5M | — | — |
| Operating cash flow | −$20.5M | — | — |
What changed
Revenue was $2.9M in Q4 2024, up 2% year over year and up 694% from the previous quarter. Product revenue was the largest line at 64% of revenue.
Operating costs exceeded revenue by $23.5M, an operating margin of -824.5%. Total costs grew 21% against revenue growth of 2%. The fastest-growing cost line was Cost of revenue (+56%). The quarter ended with a net loss of $23.5M, wider than the previous quarter's $22.5M loss.
Operating cash flow was −$20.5M. Non-cash charges added back $1.4M of depreciation and amortization and $3.0M of share-based compensation. Working capital and other items used $1.5M. Capital expenditures of $3.5M exceeded it, leaving free cash flow of −$23.9M.
Questions
What was ESS Tech's revenue in the fourth quarter 2024?
ESS Tech (GWH) reported revenue of $2.9M for the fourth quarter 2024 (Q4 2024), +2% from a year earlier and +694% from the quarter before.
Was ESS Tech profitable in the fourth quarter 2024?
Operating loss was $23.5M (-824.5% of revenue) and net loss $23.5M.
Source: ESS Tech 10-K on SEC EDGAR.