GICS Sector : Industrials
ESS Tech, Inc., an energy storage company, designs and produces iron flow batteries for commercial and utility-scale energy storage applications worldwide.It offers energy storage products, which include Energy Warehouse, a behind-the-meter solution; and Energy Center, a front-of-the-meter solution.The company was founded in 2011 and is headquartered in Wilsonville, Oregon. Show Full description
ESS Tech, Inc. reported revenue of $200,000 in the third quarter, a significant decline from $2.4 million in the second quarter. The company's GAAP cost of revenues totaled $4.9 million, while operating expenses were $5.1 million, resulting in a net loss for the quarter of $10.4 million or $0.73 per share. The actual EPS loss was narrower than the estimated loss of $0.76 per share. The company's cash, cash equivalents, and short-term investments stood at $3.5 million, with an additional $30 million available from the Yorkville financing.
Publication Date: Nov -23
The company made significant progress in the third quarter, announcing a 50 megawatt-hour energy-based pilot project with Salt River Project, representing the first commercial-scale deployment of its next-generation energy-based platform. ESS Tech has built strong relationships with tier-one customers and has a commercial pipeline with 100% of its active opportunities centered on the energy base. As Kelly F. Goodman, interim CEO, noted, "We have made significant progress this year, with a focus on strengthening our leadership team, tightening our cost base, and aligning our organization around the energy base."
ESS Tech's valuation metrics indicate a high-growth expectation. The company's P/S Ratio stands at 5.1, suggesting that investors are pricing in significant revenue growth. Analysts estimate next year's revenue growth at 135.1%. The EV/EBITDA ratio is -0.47, indicating that the company's enterprise value is not justified by its current EBITDA. The ROE and ROIC are both negative, at -494.69% and -493.01%, respectively, due to the company's net losses.
ESS Tech is targeting long-duration energy storage projects, with a current offering of ten-hour duration and a target of sixteen-hour duration by 2029. The company is pursuing projects similar in size to the 50 megawatt-hour project with Salt River Project. With a strong pipeline and significant financing in place, the company is well-positioned to execute on its growth plans. As Kate Suhadolnik, interim CFO, noted, the company has "significant flexibility to manage liquidity on our terms, as we need it over the coming months and quarters."
Head-To-Head Comparison: ESS Tech (NYSE:GWH) and Sigma Lithium (NASDAQ:SGML)
Dec -04
Contrasting ESS Tech (NYSE:GWH) & Elong Power (NASDAQ:ELPW)
Nov -25
ESS Tech, Inc. (GWH) Reports Q3 Loss, Misses Revenue Estimates
Nov -14
ESS Tech, Inc. (GWH) Q3 2025 Earnings Call Transcript
Nov -13
ESS Schedules Third Quarter 2025 Financial Results Conference Call
Oct -23
Strength Seen in ESS Tech (GWH): Can Its 117.6% Jump Turn into More Strength?
Oct -14
ESS Announces Closing of $40 Million Financing Transaction
Oct -14
SRP and ESS Announce New 50 MWh Long Duration Energy Storage Pilot Project
Oct -09
ESS Tech, Inc.'s 14.07% growth in Energy Storage Systems is driven by increasing adoption of renewable energy sources, declining battery costs, and growing demand for grid resilience and backup power solutions. Additionally, government incentives and policies supporting clean energy transition, and rising concerns over climate change and energy security, contribute to the segment's rapid expansion.
ESS Tech, Inc.'s 10.47% growth is driven by increasing adoption of its lithium-ion batteries in renewable energy systems, rising demand for energy storage solutions, and strategic partnerships with key industry players. Additionally, the company's focus on research and development has led to improved product efficiency, further boosting sales.
ESS Tech, Inc.'s 9.9% growth in Engineering Services is driven by increasing demand for electric vehicle (EV) and renewable energy solutions, leveraging its expertise in battery management systems and energy storage. Additionally, the company's expansion into new markets, strategic partnerships, and investments in research and development are contributing to its growth momentum.
ESS Tech's BMS is a comprehensive solution for managing and monitoring battery performance, ensuring safe and efficient operation of energy storage systems.
ESS Tech's PCS is a high-efficiency power conversion solution for energy storage systems, providing reliable and efficient power conversion.
ESS Tech's ESS is a modular, scalable energy storage solution for grid-scale, commercial, and residential applications.
ESS Tech's Grid Services provide advanced grid management capabilities, enabling utilities and grid operators to optimize grid performance and stability.
ESS Tech's Microgrid Solutions provide reliable, resilient, and efficient energy systems for remote communities, military bases, and critical infrastructure.
ESS Tech, Inc. faces moderate threat from substitutes due to the presence of alternative energy storage solutions.
ESS Tech, Inc. has a high bargaining power of customers due to the concentration of large customers in the industry.
ESS Tech, Inc. has a low bargaining power of suppliers due to the availability of multiple suppliers in the market.
ESS Tech, Inc. faces moderate threat from new entrants due to the presence of barriers to entry and high capital requirements.
ESS Tech, Inc. operates in a highly competitive industry with intense rivalry among existing players.
| Value | |
|---|---|
| Debt Weight | 2.40% |
| Debt Cost | 3.95% |
| Equity Weight | 97.60% |
| Equity Cost | 11.50% |
| WACC | 11.31% |
| Leverage | 2.46% |
Value: 4.8
Growth: 5.6
Quality: 3.2
Yield: 0.0
Momentum: 10.0
Volatility: 0.3
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Value: 6.0
Growth: 3.2
Quality: 3.3
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Momentum: 10.0
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Value: 7.4
Growth: 1.2
Quality: 3.4
Yield: 0.0
Momentum: 8.0
Volatility: 0.3
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Value: 6.0
Growth: 7.2
Quality: 3.3
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Value: 6.4
Growth: 4.1
Quality: 3.4
Yield: 0.0
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Volatility: 1.0
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Value: 8.6
Growth: 3.3
Quality: 3.3
Yield: 0.0
Momentum: 0.0
Volatility: 0.0
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