2026 Q1 -tulosraportti
UUTTA
5 päivää sitten
‧57 min
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Välittäjätilasto
Dataa ei löytynyt
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q2 -tulosraportti 30.7. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q1 -tulosraportti 13.5. | ||
2025 Q4 -tulosraportti 26.2. | ||
2025 Q3 -tulosraportti 6.11.2025 | ||
2025 Q2 -tulosraportti 31.7.2025 | ||
2025 Q1 -tulosraportti 7.5.2025 |
Asiakkaat katsoivat myös
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
14.5.14.5.EOSE Q1 earnings call Market Environment and Strategy The U.S. is undergoing a major “reindustrialization” (semis, defense, critical minerals, advanced manufacturing, data centers) that is driving large, fast-growing and volatile power demand. Existing grid/transmission build‑out is too slow for AI/data center and industrial timelines, pushing solutions closer to load and increasing need for long-duration, dispatchable storage. U.S. policy (tariffs, FEOC rules for ITC, Section 45X, 2026 NDAA) is reinforcing domestic content and onshoring, favoring American-made storage. Eos positions itself as a U.S.-made, long-duration battery supplier designed for 8+ hour storage and industrial-grade service, competing on both physics and economics in that segment. Example partnership: with Talen Energy in PJM, where >3 GWh of long-duration storage projects have been submitted into the interconnection queue, potentially powered by Eos batteries made in Pennsylvania. Frontier Power USA Platform Eos announced Frontier Power USA, a new project platform co-created with Cerberus to address the main barrier to long-duration storage adoption: bankability and project financing, not technology or demand. Frontier combines: Eos’ stack: Z3 battery module, DawnOS controls, Indensity system architecture, and an industrial service model (field service, overhaul, nameplate performance over life). Frontier’s stack: project development (site, permits, interconnection, offtake), insurance-backed financing, full-life asset operations, experienced project finance and operations team. Customer value proposition: faster deployment, guaranteed performance, lower total cost of ownership, with project cash flows designed to be recycled into more projects, creating a self‑reinforcing growth engine. Each project is expected to feed back operating data into DawnOS, improve underwriting, support further financing, and expand the platform via equity recycling and growing debt capacity. Frontier Power USA Capital Structure Planned 3-layer capital stack: Equity: Cerberus to contribute $100 million plus governance/underwriting/project finance expertise. Eos targeting a $150 million equity contribution via a pro rata rights offering to its shareholders. Technology performance insurance: A performance “wrap” by Ariel Green at Lloyd’s of London to convert perceived technology risk into an insurance-rated obligation. Senior project debt: Targeting more than $1 billion of senior project debt, intended to be marketed with investment-grade characteristics due to the insurance wrap and structured equity. Structure is designed to expand capital availability, compress project timelines, and close the “bankability gap” for long-duration storage. Rights Offering and Shareholder Structure To fund its Frontier equity stake, Eos plans a $150 million pro rata rights offering for existing shareholders (including retail). Shareholders receive transferable subscription rights to buy additional shares proportionate to current ownership; rights transferability is intended to broaden access and flexibility. Participation is framed as: Participating holders: increase their relative ownership vs. total new share count and gain exposure to Frontier platform upside via Eos. Non-participating holders: expected to experience dilution. Management describes the structure as intentionally designed so long-term shareholders can participate in the next phase (Frontier platform, scaling tech/manufacturing/pipeline).14.5.14.5.Technology and DawnOS Performance Fleet-level operating history: ~6 GWh of discharge energy across ~3.9 million cycles on Eos technology, including ~0.5 GWh and >1 million cycles on Z3. Architectural shift: Moved from string-level battery management to module-level BMS under DawnOS. Previously, one weak module could drag down the performance of an entire string (1/12 of a cube); unbalanced batteries meant energy present in cells could not be efficiently discharged. Documented field improvement at a specific site: Before DawnOS: Avg round-trip efficiency: ~34–42%. Very high variability: standard deviation >17 points. After DawnOS (with module-level BMS): Avg round-trip efficiency: low-to-mid 70% range. Reduced variability: standard deviation ~5–8 points. Maximum performance observed: ~88% round-trip efficiency. Key implications: DawnOS is being retrofitted to systems already in the field; upgrade work is a cost headwind but is viewed as manageable and outweighed by performance gains. Across discharge bands (0–3h, 3–6h, 6+ hours), the fleet shows average round-trip efficiency in the high 70s with peaks up to the 90s, and efficiency does not degrade with longer duration. Other chemistries typically see either lower efficiency at longer duration or faster degradation/augmentation requirements; Eos claims its tech avoids that tradeoff. Reduced variance (gap between average and max cycle narrowing from ~30 to ~10 points) is important for project finance and tax equity, which underwrite to consistency. Operational Execution and Manufacturing Turtle Creek facility: Q1 cube output: up 467% year-over-year and 17% sequentially. Direct labor per cube: down 47% year-over-year and 25% sequentially. Year-over-year: ~16% reduction in man-hours per cube due to bipolar automation. Sequential: ~6% reduction due to yield and efficiency gains, less overtime/temp labor. Gross loss improved by ~$10 million quarter-over-quarter driven by higher output and lower material cost. Cost and overhead dynamics: Material cost: Up 4% year-over-year due to DawnOS transition and BMS changes. Down 5% quarter-over-quarter as design simplification, fewer parts, and supplier optimization take effect. Manufacturing overhead per cube: Down 43% year-over-year. Up 10% sequentially by design, as Eos invested in spares/maintenance to improve line uptime (trading some overhead for lower labor per cube and higher throughput). Cost-reduction approach: Supplier negotiations using “should-cost” models and volume leverage; re-setting legacy cost positions. Qualifying alternate suppliers for competition and reduced single-source risk. Material substitutions (resins, electronics, metals) to maintain or improve performance at lower cost. Lean and continuous improvement: Management emphasizes lean as the normal operating mode, not a one-time program. Each cube is treated as an opportunity to remove cost/time and improve quality. Long-term goal: drive toward positive gross margin through continued cost-out and scale. Thorn Hill Facility and Capacity Expansion Thorn Hill (new Pennsylvania facility): Building readiness completed; Line 2 power-up and debug ongoing. Initial production targeted by end of Q2 2026. Full production expected in Q4 2026. Strategic role of Thorn Hill: Purpose-built using Turtle Creek lessons; all automation and layout decisions aimed at higher efficiency. Volume step is expected to materially improve unit economics as fixed costs spread over more cubes and supplier pricing improves with committed volumes. Intended to position Eos to compete on cost for gigawatt-hour-scale projects. Future footprint: Management is considering options regarding running 2 lines at 2 sites vs. consolidating into one facility, but has not yet committed to a specific long-term configuration.14.5.14.5.Commercial Activity, Backlog, and Pipeline Backlog at Q1 2026: $645 million, representing 2.6 GWh of storage, after converting $57 million to revenue in the quarter. Post-quarter developments: 2 GWh firm capacity reservation agreement with Frontier Power USA covering several initial projects in Frontier’s pipeline. Not a simple 1:1 backlog addition because at least one project already existed in Eos’ backlog and will now be financed by Frontier. Expansion of a Southeast utility project from 4 hours to 10 hours of duration plus full DawnOS system upgrade. Customer chose to deepen relationship with Eos rather than diversify vendors, and extended both capacity and duration. Pipeline: Total commercial pipeline: ~$24 billion, 107 GWh. Up 3% sequentially and 56% year-over-year. 55% of pipeline is 8+ hour duration, where Eos focuses and where it believes it has competitive advantage. Average pricing reflects increasing share of large-scale Indensity projects, where unit economics are better due to scale. Regional and customer trends: Strong demand in PJM and MISO; ongoing development of large storage projects with Talen Energy ahead of PJM’s planned reliability backstop procurement. Some customer projects advancing through permitting ahead of upcoming NYSERDA bulk storage submissions in New York; these projects are said to stand on their own economics with NYSERDA as upside. Growing interest from utilities and utility-backed developers wanting to own assets that support rising load and grid reliability. Increasing interest from hyperscalers and AI/data center customers needing highly reliable, fast-response, behind-the-meter storage that can handle continuous rapid charge/discharge cycles over long periods. AI/Data Center Use Case and TURBINE-X Partnership AI/hyperscaler load profile: “Abusive” duty cycles: rapid, deep charging/discharging swings, sometimes sustained for hours or days, with millisecond response requirements for inferencing and longer-duration needs for training/large learning. Eos’ positioning: Z3 + Indensity + DawnOS validated at Eos’ Edison facility with real data-center load profiles. Demonstrated consistent and stable performance across rapid transitions and long durations using the same asset. Indensity allows portions of the system to be run independently (e.g., one section optimized for fast inferencing, another for long-duration support). TURBINE-X joint development agreement: Combines TURBINE-X’s access to additional gas-fired generation with Eos’ Indensity systems to offer integrated power solutions for data centers and other applications. Targets 2 GWh of storage deployments starting in 2027 and beyond. TURBINE-X’s Texas manufacturing facility is expected to support execution once projects mature. Financial Performance and Outlook Q1 2026 results: Revenue: $57 million, up 445% year-over-year; revenue roughly flat sequentially due to project mix (more cube deliveries, less AC-scope revenue). Some expected AC-scope and commissioning revenue was delayed due to customer site readiness. Gross loss: $44.4 million, a 157 percentage point year-over-year margin improvement due to higher volume and cost-out. Gross loss improved 18% quarter-over-quarter while production increased 17%, indicating operating leverage. Adjusted gross loss (ex stock-based comp and D&A): $39 million, a 133 percentage point margin improvement year-over-year. Operating expenses: up 23% year-over-year, reflecting targeted investments in supply chain, NPI, and engineering for scale and cost reduction; ~17% of OpEx is noncash. Net income: $509 million positive, primarily due to noncash mark-to-market revaluations of warrants and derivatives tied to share price. Adjusted EBITDA: loss of $68 million, a 294 percentage point margin improvement from prior year; management highlights this as the key operating metric. Cash and financing: Ended Q1 with $472 million in cash. Management expects about $60 million of Q1 cash outflow to reverse via: Next DOE loan drawdown. Monetization of PTC (production tax) credits under §45X. Customer invoicing. Guidance and targets: Reaffirmed 2026 revenue outlook of $300–$400 million. Management continues to target positive adjusted gross margin later in 2026, driven by cost-out and Thorn Hill ramp. They also expressed confidence in achieving positive adjusted EBITDA before the end of the year.
·9.5.25% in one day – incredible! Tried to double my holding when regular trading started because it seemed like it had gone down for a while and started to turn around before the report. After about 3 minutes, it had gone up 8% and I tried to time a dip but it was just up and up and up. Didn't dare to buy but I got a significant gain on my holding. Will see if I can double it on Monday if there's a pullback. Otherwise, I'll be satisfied anyway. Have bought and sold in batches over the last 6 months because it has moved so much. Loss has turned into profit. If you time it right, this is a good security to have!
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
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2026 Q1 -tulosraportti
UUTTA
5 päivää sitten
‧57 min
Uutiset
Ei uutisia tällä hetkellä
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- 14.5.14.5.EOSE Q1 earnings call Market Environment and Strategy The U.S. is undergoing a major “reindustrialization” (semis, defense, critical minerals, advanced manufacturing, data centers) that is driving large, fast-growing and volatile power demand. Existing grid/transmission build‑out is too slow for AI/data center and industrial timelines, pushing solutions closer to load and increasing need for long-duration, dispatchable storage. U.S. policy (tariffs, FEOC rules for ITC, Section 45X, 2026 NDAA) is reinforcing domestic content and onshoring, favoring American-made storage. Eos positions itself as a U.S.-made, long-duration battery supplier designed for 8+ hour storage and industrial-grade service, competing on both physics and economics in that segment. Example partnership: with Talen Energy in PJM, where >3 GWh of long-duration storage projects have been submitted into the interconnection queue, potentially powered by Eos batteries made in Pennsylvania. Frontier Power USA Platform Eos announced Frontier Power USA, a new project platform co-created with Cerberus to address the main barrier to long-duration storage adoption: bankability and project financing, not technology or demand. Frontier combines: Eos’ stack: Z3 battery module, DawnOS controls, Indensity system architecture, and an industrial service model (field service, overhaul, nameplate performance over life). Frontier’s stack: project development (site, permits, interconnection, offtake), insurance-backed financing, full-life asset operations, experienced project finance and operations team. Customer value proposition: faster deployment, guaranteed performance, lower total cost of ownership, with project cash flows designed to be recycled into more projects, creating a self‑reinforcing growth engine. Each project is expected to feed back operating data into DawnOS, improve underwriting, support further financing, and expand the platform via equity recycling and growing debt capacity. Frontier Power USA Capital Structure Planned 3-layer capital stack: Equity: Cerberus to contribute $100 million plus governance/underwriting/project finance expertise. Eos targeting a $150 million equity contribution via a pro rata rights offering to its shareholders. Technology performance insurance: A performance “wrap” by Ariel Green at Lloyd’s of London to convert perceived technology risk into an insurance-rated obligation. Senior project debt: Targeting more than $1 billion of senior project debt, intended to be marketed with investment-grade characteristics due to the insurance wrap and structured equity. Structure is designed to expand capital availability, compress project timelines, and close the “bankability gap” for long-duration storage. Rights Offering and Shareholder Structure To fund its Frontier equity stake, Eos plans a $150 million pro rata rights offering for existing shareholders (including retail). Shareholders receive transferable subscription rights to buy additional shares proportionate to current ownership; rights transferability is intended to broaden access and flexibility. Participation is framed as: Participating holders: increase their relative ownership vs. total new share count and gain exposure to Frontier platform upside via Eos. Non-participating holders: expected to experience dilution. Management describes the structure as intentionally designed so long-term shareholders can participate in the next phase (Frontier platform, scaling tech/manufacturing/pipeline).14.5.14.5.Technology and DawnOS Performance Fleet-level operating history: ~6 GWh of discharge energy across ~3.9 million cycles on Eos technology, including ~0.5 GWh and >1 million cycles on Z3. Architectural shift: Moved from string-level battery management to module-level BMS under DawnOS. Previously, one weak module could drag down the performance of an entire string (1/12 of a cube); unbalanced batteries meant energy present in cells could not be efficiently discharged. Documented field improvement at a specific site: Before DawnOS: Avg round-trip efficiency: ~34–42%. Very high variability: standard deviation >17 points. After DawnOS (with module-level BMS): Avg round-trip efficiency: low-to-mid 70% range. Reduced variability: standard deviation ~5–8 points. Maximum performance observed: ~88% round-trip efficiency. Key implications: DawnOS is being retrofitted to systems already in the field; upgrade work is a cost headwind but is viewed as manageable and outweighed by performance gains. Across discharge bands (0–3h, 3–6h, 6+ hours), the fleet shows average round-trip efficiency in the high 70s with peaks up to the 90s, and efficiency does not degrade with longer duration. Other chemistries typically see either lower efficiency at longer duration or faster degradation/augmentation requirements; Eos claims its tech avoids that tradeoff. Reduced variance (gap between average and max cycle narrowing from ~30 to ~10 points) is important for project finance and tax equity, which underwrite to consistency. Operational Execution and Manufacturing Turtle Creek facility: Q1 cube output: up 467% year-over-year and 17% sequentially. Direct labor per cube: down 47% year-over-year and 25% sequentially. Year-over-year: ~16% reduction in man-hours per cube due to bipolar automation. Sequential: ~6% reduction due to yield and efficiency gains, less overtime/temp labor. Gross loss improved by ~$10 million quarter-over-quarter driven by higher output and lower material cost. Cost and overhead dynamics: Material cost: Up 4% year-over-year due to DawnOS transition and BMS changes. Down 5% quarter-over-quarter as design simplification, fewer parts, and supplier optimization take effect. Manufacturing overhead per cube: Down 43% year-over-year. Up 10% sequentially by design, as Eos invested in spares/maintenance to improve line uptime (trading some overhead for lower labor per cube and higher throughput). Cost-reduction approach: Supplier negotiations using “should-cost” models and volume leverage; re-setting legacy cost positions. Qualifying alternate suppliers for competition and reduced single-source risk. Material substitutions (resins, electronics, metals) to maintain or improve performance at lower cost. Lean and continuous improvement: Management emphasizes lean as the normal operating mode, not a one-time program. Each cube is treated as an opportunity to remove cost/time and improve quality. Long-term goal: drive toward positive gross margin through continued cost-out and scale. Thorn Hill Facility and Capacity Expansion Thorn Hill (new Pennsylvania facility): Building readiness completed; Line 2 power-up and debug ongoing. Initial production targeted by end of Q2 2026. Full production expected in Q4 2026. Strategic role of Thorn Hill: Purpose-built using Turtle Creek lessons; all automation and layout decisions aimed at higher efficiency. Volume step is expected to materially improve unit economics as fixed costs spread over more cubes and supplier pricing improves with committed volumes. Intended to position Eos to compete on cost for gigawatt-hour-scale projects. Future footprint: Management is considering options regarding running 2 lines at 2 sites vs. consolidating into one facility, but has not yet committed to a specific long-term configuration.14.5.14.5.Commercial Activity, Backlog, and Pipeline Backlog at Q1 2026: $645 million, representing 2.6 GWh of storage, after converting $57 million to revenue in the quarter. Post-quarter developments: 2 GWh firm capacity reservation agreement with Frontier Power USA covering several initial projects in Frontier’s pipeline. Not a simple 1:1 backlog addition because at least one project already existed in Eos’ backlog and will now be financed by Frontier. Expansion of a Southeast utility project from 4 hours to 10 hours of duration plus full DawnOS system upgrade. Customer chose to deepen relationship with Eos rather than diversify vendors, and extended both capacity and duration. Pipeline: Total commercial pipeline: ~$24 billion, 107 GWh. Up 3% sequentially and 56% year-over-year. 55% of pipeline is 8+ hour duration, where Eos focuses and where it believes it has competitive advantage. Average pricing reflects increasing share of large-scale Indensity projects, where unit economics are better due to scale. Regional and customer trends: Strong demand in PJM and MISO; ongoing development of large storage projects with Talen Energy ahead of PJM’s planned reliability backstop procurement. Some customer projects advancing through permitting ahead of upcoming NYSERDA bulk storage submissions in New York; these projects are said to stand on their own economics with NYSERDA as upside. Growing interest from utilities and utility-backed developers wanting to own assets that support rising load and grid reliability. Increasing interest from hyperscalers and AI/data center customers needing highly reliable, fast-response, behind-the-meter storage that can handle continuous rapid charge/discharge cycles over long periods. AI/Data Center Use Case and TURBINE-X Partnership AI/hyperscaler load profile: “Abusive” duty cycles: rapid, deep charging/discharging swings, sometimes sustained for hours or days, with millisecond response requirements for inferencing and longer-duration needs for training/large learning. Eos’ positioning: Z3 + Indensity + DawnOS validated at Eos’ Edison facility with real data-center load profiles. Demonstrated consistent and stable performance across rapid transitions and long durations using the same asset. Indensity allows portions of the system to be run independently (e.g., one section optimized for fast inferencing, another for long-duration support). TURBINE-X joint development agreement: Combines TURBINE-X’s access to additional gas-fired generation with Eos’ Indensity systems to offer integrated power solutions for data centers and other applications. Targets 2 GWh of storage deployments starting in 2027 and beyond. TURBINE-X’s Texas manufacturing facility is expected to support execution once projects mature. Financial Performance and Outlook Q1 2026 results: Revenue: $57 million, up 445% year-over-year; revenue roughly flat sequentially due to project mix (more cube deliveries, less AC-scope revenue). Some expected AC-scope and commissioning revenue was delayed due to customer site readiness. Gross loss: $44.4 million, a 157 percentage point year-over-year margin improvement due to higher volume and cost-out. Gross loss improved 18% quarter-over-quarter while production increased 17%, indicating operating leverage. Adjusted gross loss (ex stock-based comp and D&A): $39 million, a 133 percentage point margin improvement year-over-year. Operating expenses: up 23% year-over-year, reflecting targeted investments in supply chain, NPI, and engineering for scale and cost reduction; ~17% of OpEx is noncash. Net income: $509 million positive, primarily due to noncash mark-to-market revaluations of warrants and derivatives tied to share price. Adjusted EBITDA: loss of $68 million, a 294 percentage point margin improvement from prior year; management highlights this as the key operating metric. Cash and financing: Ended Q1 with $472 million in cash. Management expects about $60 million of Q1 cash outflow to reverse via: Next DOE loan drawdown. Monetization of PTC (production tax) credits under §45X. Customer invoicing. Guidance and targets: Reaffirmed 2026 revenue outlook of $300–$400 million. Management continues to target positive adjusted gross margin later in 2026, driven by cost-out and Thorn Hill ramp. They also expressed confidence in achieving positive adjusted EBITDA before the end of the year.
- ·9.5.25% in one day – incredible! Tried to double my holding when regular trading started because it seemed like it had gone down for a while and started to turn around before the report. After about 3 minutes, it had gone up 8% and I tried to time a dip but it was just up and up and up. Didn't dare to buy but I got a significant gain on my holding. Will see if I can double it on Monday if there's a pullback. Otherwise, I'll be satisfied anyway. Have bought and sold in batches over the last 6 months because it has moved so much. Loss has turned into profit. If you time it right, this is a good security to have!
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Välittäjätilasto
Dataa ei löytynyt
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q2 -tulosraportti 30.7. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q1 -tulosraportti 13.5. | ||
2025 Q4 -tulosraportti 26.2. | ||
2025 Q3 -tulosraportti 6.11.2025 | ||
2025 Q2 -tulosraportti 31.7.2025 | ||
2025 Q1 -tulosraportti 7.5.2025 |
2026 Q1 -tulosraportti
UUTTA
5 päivää sitten
‧57 min
Uutiset
Ei uutisia tällä hetkellä
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q2 -tulosraportti 30.7. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q1 -tulosraportti 13.5. | ||
2025 Q4 -tulosraportti 26.2. | ||
2025 Q3 -tulosraportti 6.11.2025 | ||
2025 Q2 -tulosraportti 31.7.2025 | ||
2025 Q1 -tulosraportti 7.5.2025 |
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- 14.5.14.5.EOSE Q1 earnings call Market Environment and Strategy The U.S. is undergoing a major “reindustrialization” (semis, defense, critical minerals, advanced manufacturing, data centers) that is driving large, fast-growing and volatile power demand. Existing grid/transmission build‑out is too slow for AI/data center and industrial timelines, pushing solutions closer to load and increasing need for long-duration, dispatchable storage. U.S. policy (tariffs, FEOC rules for ITC, Section 45X, 2026 NDAA) is reinforcing domestic content and onshoring, favoring American-made storage. Eos positions itself as a U.S.-made, long-duration battery supplier designed for 8+ hour storage and industrial-grade service, competing on both physics and economics in that segment. Example partnership: with Talen Energy in PJM, where >3 GWh of long-duration storage projects have been submitted into the interconnection queue, potentially powered by Eos batteries made in Pennsylvania. Frontier Power USA Platform Eos announced Frontier Power USA, a new project platform co-created with Cerberus to address the main barrier to long-duration storage adoption: bankability and project financing, not technology or demand. Frontier combines: Eos’ stack: Z3 battery module, DawnOS controls, Indensity system architecture, and an industrial service model (field service, overhaul, nameplate performance over life). Frontier’s stack: project development (site, permits, interconnection, offtake), insurance-backed financing, full-life asset operations, experienced project finance and operations team. Customer value proposition: faster deployment, guaranteed performance, lower total cost of ownership, with project cash flows designed to be recycled into more projects, creating a self‑reinforcing growth engine. Each project is expected to feed back operating data into DawnOS, improve underwriting, support further financing, and expand the platform via equity recycling and growing debt capacity. Frontier Power USA Capital Structure Planned 3-layer capital stack: Equity: Cerberus to contribute $100 million plus governance/underwriting/project finance expertise. Eos targeting a $150 million equity contribution via a pro rata rights offering to its shareholders. Technology performance insurance: A performance “wrap” by Ariel Green at Lloyd’s of London to convert perceived technology risk into an insurance-rated obligation. Senior project debt: Targeting more than $1 billion of senior project debt, intended to be marketed with investment-grade characteristics due to the insurance wrap and structured equity. Structure is designed to expand capital availability, compress project timelines, and close the “bankability gap” for long-duration storage. Rights Offering and Shareholder Structure To fund its Frontier equity stake, Eos plans a $150 million pro rata rights offering for existing shareholders (including retail). Shareholders receive transferable subscription rights to buy additional shares proportionate to current ownership; rights transferability is intended to broaden access and flexibility. Participation is framed as: Participating holders: increase their relative ownership vs. total new share count and gain exposure to Frontier platform upside via Eos. Non-participating holders: expected to experience dilution. Management describes the structure as intentionally designed so long-term shareholders can participate in the next phase (Frontier platform, scaling tech/manufacturing/pipeline).14.5.14.5.Technology and DawnOS Performance Fleet-level operating history: ~6 GWh of discharge energy across ~3.9 million cycles on Eos technology, including ~0.5 GWh and >1 million cycles on Z3. Architectural shift: Moved from string-level battery management to module-level BMS under DawnOS. Previously, one weak module could drag down the performance of an entire string (1/12 of a cube); unbalanced batteries meant energy present in cells could not be efficiently discharged. Documented field improvement at a specific site: Before DawnOS: Avg round-trip efficiency: ~34–42%. Very high variability: standard deviation >17 points. After DawnOS (with module-level BMS): Avg round-trip efficiency: low-to-mid 70% range. Reduced variability: standard deviation ~5–8 points. Maximum performance observed: ~88% round-trip efficiency. Key implications: DawnOS is being retrofitted to systems already in the field; upgrade work is a cost headwind but is viewed as manageable and outweighed by performance gains. Across discharge bands (0–3h, 3–6h, 6+ hours), the fleet shows average round-trip efficiency in the high 70s with peaks up to the 90s, and efficiency does not degrade with longer duration. Other chemistries typically see either lower efficiency at longer duration or faster degradation/augmentation requirements; Eos claims its tech avoids that tradeoff. Reduced variance (gap between average and max cycle narrowing from ~30 to ~10 points) is important for project finance and tax equity, which underwrite to consistency. Operational Execution and Manufacturing Turtle Creek facility: Q1 cube output: up 467% year-over-year and 17% sequentially. Direct labor per cube: down 47% year-over-year and 25% sequentially. Year-over-year: ~16% reduction in man-hours per cube due to bipolar automation. Sequential: ~6% reduction due to yield and efficiency gains, less overtime/temp labor. Gross loss improved by ~$10 million quarter-over-quarter driven by higher output and lower material cost. Cost and overhead dynamics: Material cost: Up 4% year-over-year due to DawnOS transition and BMS changes. Down 5% quarter-over-quarter as design simplification, fewer parts, and supplier optimization take effect. Manufacturing overhead per cube: Down 43% year-over-year. Up 10% sequentially by design, as Eos invested in spares/maintenance to improve line uptime (trading some overhead for lower labor per cube and higher throughput). Cost-reduction approach: Supplier negotiations using “should-cost” models and volume leverage; re-setting legacy cost positions. Qualifying alternate suppliers for competition and reduced single-source risk. Material substitutions (resins, electronics, metals) to maintain or improve performance at lower cost. Lean and continuous improvement: Management emphasizes lean as the normal operating mode, not a one-time program. Each cube is treated as an opportunity to remove cost/time and improve quality. Long-term goal: drive toward positive gross margin through continued cost-out and scale. Thorn Hill Facility and Capacity Expansion Thorn Hill (new Pennsylvania facility): Building readiness completed; Line 2 power-up and debug ongoing. Initial production targeted by end of Q2 2026. Full production expected in Q4 2026. Strategic role of Thorn Hill: Purpose-built using Turtle Creek lessons; all automation and layout decisions aimed at higher efficiency. Volume step is expected to materially improve unit economics as fixed costs spread over more cubes and supplier pricing improves with committed volumes. Intended to position Eos to compete on cost for gigawatt-hour-scale projects. Future footprint: Management is considering options regarding running 2 lines at 2 sites vs. consolidating into one facility, but has not yet committed to a specific long-term configuration.14.5.14.5.Commercial Activity, Backlog, and Pipeline Backlog at Q1 2026: $645 million, representing 2.6 GWh of storage, after converting $57 million to revenue in the quarter. Post-quarter developments: 2 GWh firm capacity reservation agreement with Frontier Power USA covering several initial projects in Frontier’s pipeline. Not a simple 1:1 backlog addition because at least one project already existed in Eos’ backlog and will now be financed by Frontier. Expansion of a Southeast utility project from 4 hours to 10 hours of duration plus full DawnOS system upgrade. Customer chose to deepen relationship with Eos rather than diversify vendors, and extended both capacity and duration. Pipeline: Total commercial pipeline: ~$24 billion, 107 GWh. Up 3% sequentially and 56% year-over-year. 55% of pipeline is 8+ hour duration, where Eos focuses and where it believes it has competitive advantage. Average pricing reflects increasing share of large-scale Indensity projects, where unit economics are better due to scale. Regional and customer trends: Strong demand in PJM and MISO; ongoing development of large storage projects with Talen Energy ahead of PJM’s planned reliability backstop procurement. Some customer projects advancing through permitting ahead of upcoming NYSERDA bulk storage submissions in New York; these projects are said to stand on their own economics with NYSERDA as upside. Growing interest from utilities and utility-backed developers wanting to own assets that support rising load and grid reliability. Increasing interest from hyperscalers and AI/data center customers needing highly reliable, fast-response, behind-the-meter storage that can handle continuous rapid charge/discharge cycles over long periods. AI/Data Center Use Case and TURBINE-X Partnership AI/hyperscaler load profile: “Abusive” duty cycles: rapid, deep charging/discharging swings, sometimes sustained for hours or days, with millisecond response requirements for inferencing and longer-duration needs for training/large learning. Eos’ positioning: Z3 + Indensity + DawnOS validated at Eos’ Edison facility with real data-center load profiles. Demonstrated consistent and stable performance across rapid transitions and long durations using the same asset. Indensity allows portions of the system to be run independently (e.g., one section optimized for fast inferencing, another for long-duration support). TURBINE-X joint development agreement: Combines TURBINE-X’s access to additional gas-fired generation with Eos’ Indensity systems to offer integrated power solutions for data centers and other applications. Targets 2 GWh of storage deployments starting in 2027 and beyond. TURBINE-X’s Texas manufacturing facility is expected to support execution once projects mature. Financial Performance and Outlook Q1 2026 results: Revenue: $57 million, up 445% year-over-year; revenue roughly flat sequentially due to project mix (more cube deliveries, less AC-scope revenue). Some expected AC-scope and commissioning revenue was delayed due to customer site readiness. Gross loss: $44.4 million, a 157 percentage point year-over-year margin improvement due to higher volume and cost-out. Gross loss improved 18% quarter-over-quarter while production increased 17%, indicating operating leverage. Adjusted gross loss (ex stock-based comp and D&A): $39 million, a 133 percentage point margin improvement year-over-year. Operating expenses: up 23% year-over-year, reflecting targeted investments in supply chain, NPI, and engineering for scale and cost reduction; ~17% of OpEx is noncash. Net income: $509 million positive, primarily due to noncash mark-to-market revaluations of warrants and derivatives tied to share price. Adjusted EBITDA: loss of $68 million, a 294 percentage point margin improvement from prior year; management highlights this as the key operating metric. Cash and financing: Ended Q1 with $472 million in cash. Management expects about $60 million of Q1 cash outflow to reverse via: Next DOE loan drawdown. Monetization of PTC (production tax) credits under §45X. Customer invoicing. Guidance and targets: Reaffirmed 2026 revenue outlook of $300–$400 million. Management continues to target positive adjusted gross margin later in 2026, driven by cost-out and Thorn Hill ramp. They also expressed confidence in achieving positive adjusted EBITDA before the end of the year.
- ·9.5.25% in one day – incredible! Tried to double my holding when regular trading started because it seemed like it had gone down for a while and started to turn around before the report. After about 3 minutes, it had gone up 8% and I tried to time a dip but it was just up and up and up. Didn't dare to buy but I got a significant gain on my holding. Will see if I can double it on Monday if there's a pullback. Otherwise, I'll be satisfied anyway. Have bought and sold in batches over the last 6 months because it has moved so much. Loss has turned into profit. If you time it right, this is a good security to have!
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