ESS Tech Q4 revenue falls

Reuters03-06

ESS Tech Q4 revenue falls

Overview

Energy storage firm's Q4 revenue fell
Company acquired VoltStorage assets to enhance commercial capabilities
Improved liquidity with $40 mln financing and $8.6 mln equity offering

Outlook

ESS Tech expects increased commercial activity over the next several years
Improved liquidity supports execution and momentum

Result Drivers

COMMERCIAL MOMENTUM - $9.9 mln award for deployment at U.S. military installations and Google's involvement in Project New Horizon

Company press release: ID:nBw742lpta

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Basic EPS		-$1.20
Q4 Operating Expenses		$8.19 mln

Analyst Coverage

The one available analyst rating on the shares is "buy"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for ESS Tech Inc is $3.50, about 143.1% above its March 4 closing price of $1.44

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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