10-Q · August 5, 2026
Eos delivered $68.775 million of Q2 revenue, up 351% year over year and above Q1's $57 million, but below the supplied $72.647 million consensus estimate. Gross margin improved sharply to negative 71.0%, yet operating…
Earnings analysis · 10-Q
EOSE earnings analysis
Filed November 5, 2026 · Our reading of the company's report
The latest report
Eos delivered strong reported growth in Q3, with revenue of $82.7 million, materially improved gross margin of negative 53%, and diluted EPS of negative $0.17. Revenue and EPS exceeded the provided consensus estimates…
Read full summary
Eos delivered strong reported growth in Q3, with revenue of $82.7 million, materially improved gross margin of negative 53%, and diluted EPS of negative $0.17. Revenue and EPS exceeded the provided consensus estimates of $81.4 million and negative $0.34, respectively, but the company remained loss-making at the gross-profit level. Management maintained 2026 revenue guidance of $300 million-$350 million and expects revenue in the lower half of the range, supporting a neutral rather than bullish view.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.17
- Gross margin
- -53.0%
What stood out
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Revenue accelerated
Q3 revenue was $82.7 million, up from $69 million in Q2 2026 and $31 million in Q3 2025, representing sequential growth of approximately 20% and year-over-year growth of approximately 167%.
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Gross margin improved materially
Gross margin improved to negative 53% from negative 71% in Q2 2026 and negative 111.2% in Q3 2025, an 18.0-point sequential improvement and a 58.2-point year-over-year improvement.
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EPS loss narrowed
Diluted EPS improved to negative $0.17 from negative $1.20 in Q2 2026 and negative $4.91 in Q3 2025, although the company remained loss-making.
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Revenue outlook reaffirmed
Full-year 2026 revenue guidance was maintained at $300 million-$350 million, with revenue expected in the lower half of the range.
What to watch
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Negative gross margin persists
Gross margin remained negative 53%, indicating the company is still loss-making at the gross-profit level despite substantial improvement from negative 71% in Q2 2026.
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FPUSA investment and concentration risk
The filing adds a risk factor related to the Company's one minority investment in FPUSA. FPUSA is not consolidated, and the Company states that changes in ownership, governance or financing could materially affect its financial statements and liquidity.
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Securities and derivative litigation
The Company faces a securities class action filed on March 6, 2026, plus derivative actions filed on March 13 and March 25, 2026; the derivative actions were consolidated on May 13, 2026 and stayed pending resolution of the securities case.
Management's outlook
Full-year 2026 revenue guidance was maintained at $300 million-$350 million, with revenue expected in the lower half of the range. The filing does not provide numeric EPS guidance.
Earlier filings 2
10-Q · May 13, 2026
Eos Energy Enterprises reported Q1 2026 revenue of $56.963 million, a 445% increase year-over-year, with a surprising EPS of $0.12 against an expected loss. The company's focus on advancing its innovative battery…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.