Summary by Moomoo AI
On November 5, 2024, Eos Energy Enterprises, Inc. reported its financial results for the third quarter ending September 30, 2024, and updated its 2024 revenue and contribution margin outlook. The company experienced lower-than-expected revenue of $0.9 million due to a supply chain delay impacting the delivery of new Z3 inline enclosures from a key supplier. Despite this, the delay did not affect Eos Energy's total committed backlog, and the company is coordinating with customers on revised delivery schedules. The cost of goods sold increased by 21% to $25.8 million, attributed to larger customer projects and higher labor costs, which are expected to decrease with further automation. Other operating expenses rose by 65% to $28.4 million, mainly due to costs associated with the new manufacturing line, legal and professional...Show More
