Summary by Moomoo AI
On March 4, 2024, Eos Energy Enterprises, Inc., a Delaware-incorporated company listed on the Nasdaq under the symbol EOSE, filed a Form 8-K with the SEC to report its financial results for the year ended December 31, 2023. The company, which specializes in zinc-based long-duration energy storage systems, announced a 41% year-over-year improvement in full-year gross margins. For the fourth quarter, Eos Energy reported a revenue of $6.6 million, marking a 148% increase from the previous year, and a 66% gross margin improvement. Operating expenses were reduced by 10% compared to the fourth quarter of 2022. The company ended the year with a cash balance of $69.5 million and a commercial opportunity pipeline valued at $13 billion, a 77% increase from the previous year. The orders backlog...Show More