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Eos Energy Enterprises (NASDAQ:EOSE) -7.8% in Tuesday’s trading after saying it expects FY 2023 revenues will decline 9% Y/Y to $16.4M from $17.9M in the previous year, while Q4 revenues are seen more than doubling Q/Q to $6.6M.
For the full-year revenue decline, Eos Energy (EOSE) cited reduced and concluded Gen 2.3 production in H1 2023, while simultaneously standing up the Eos Z3 iterative manufacturing processes, while the sequential growth was driven by higher production volumes off its semi-automated production line.
The company said it shipped its first Eos Z3 Cubes at the end of September to two different customers and is currently in the process of delivering a project owned by a large North American infrastructure fund in Texas.
Eos Energy (EOSE) said at the end of January, its automation partner ACRO Automation achieved a significant milestone towards Factory Acceptance Testing in its Wisconsin facility as it fully powered on the core Eos Z3 battery assembly section of the manufacturing line.
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