ESS Tech, Inc.

Listed Company

GWHCIK 0001819438NYSENon-AcceleratedSmaller ReportingMiscellaneous Electrical Machinery, Equipment & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.58M

Net Income

$-63.40M

Total Assets

$51.17M

Equity

$8.62M

Shares Out

29.39M

Op. Cash Flow

$-50.30M

GWH$0.86−47.02% · past yearDBEQ Basic

Daily closing prices

Business

ESS Tech, Inc. designs and manufactures long-duration iron flow batteries using earth-abundant materials (salt, iron, water) for grid-scale and commercial energy storage. Products include the Energy Base, a fully configurable gigawatt-hour-scale storage system, and core power-train components for customer assembly. The company serves utilities, independent power providers, and commercial & industrial customers in behind-the-meter and front-of-the-meter markets globally, with current focus on U.S. and Australian markets.

Summary from 10-K filed 2026-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	2	6	8	894,000	0
Cost of revenue	29	52	20	0	—
Gross loss	−28	−45	−13	894,000	—
Research and development	8	12	43	72	30
Sales and marketing	4	9	8	7	3
General and administrative	18	24	23	27	27
Total operating expenses	30	44	73	106	61
Loss from operations	−57	−90	−86	−105	−61
Interest (expense) income, net	−5	4	—	—	—
Gain on revaluation of common stock warrant liabilities	229,000	115,000	2	26	−38
Other expense, net	−807,000	−113,000	773,000	−452,000	926,000
Total other (expense) income, net	−6	4	8	28	−417
Net loss to common stockholders	−63	−86	−78	−78	−477
Comprehensive loss to common stockholders	−63	−86	−78	−78	−477
Net loss per share - basic (in USD per share)	−4.34	−7.32	−7.27	−0.51	−5.73
Net loss per share - diluted (in USD per share)	−4.34	−7.32	−7.27	−0.51	−5.73
Weighted average shares used in per share calculation - basic (in shares)	15	12	11	153	83
Weighted average shares used in per share calculation - diluted (in shares)	15	12	11	153	83

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	15	13	20	35	239
Restricted cash, current	806,000	906,000	1	1	1
Accounts receivable, net	13,000	215,000	2	5	451,000
Short-term investments	8	18	88	105	0
Inventory	140,000	6	3	0	—
Prepaid expenses and other current assets	3	5	3	6	5
Total current assets	26	43	118	152	246
Property and equipment, net	17	21	16	18	5
Intangible assets, net	3	5	5	0	—
Operating lease right-of-use assets	4	2	2	3	0
Restricted cash, non-current	618,000	948,000	945,000	675,000	75,000
Other non-current assets	634,000	760,000	833,000	271,000	105,000
Total assets	51	72	143	174	250
Accounts payable	3	8	3	3	2
Accrued and other current liabilities	11	9	11	14	6
Accrued product warranties	985,000	3	2	2	0
Operating lease liabilities, current	2	2	2	1	0
Deferred revenue, current	400,000	5	3	6	4
Financing obligations, current	8	0	—	—	—
Total current liabilities	25	28	20	28	14
Operating lease liabilities, non-current	2	0	957,000	3	0
Deferred revenue, non-current - related parties	5	14	18	2	0
Common stock warrant liabilities	573,000	802,000	917,000	3	—
Financing obligations, non-current	9	0	—	—	—
Other non-current liabilities	41,000	125,000	0	85,000	552,000
Total liabilities	43	43	40	37	45
Commitments and contingencies (Note 11)	—	—	—	—	—
Preferred stock ($0.0001 par value; 200,000,000 shares authorized, none issued and outstanding as of December 31, 2025 and 2024)	0	0	0	0	0
Common stock ($0.0001 par value; 1,000,000,000 shares authorized, 22,377,003 and 11,986,516 shares issued and outstanding as of December 31, 2025 and 2024, respectively)	2,000	1,000	1,000	16,000	16,000
Additional paid-in capital	854	811	800	756	746
Accumulated deficit	−846	−782	−696	−619	−541
Total stockholders equity	9	29	103	137	205
Total liabilities and stockholders equity	51	72	143	174	250

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	6	5	7	2	572,000
Asset abandonment	2	0	—	—	—
Non-cash interest (income) expense	5	−2	−4	−1	—
Non-cash lease expense	2	1	1	1	0
Stock-based compensation expense	5	12	11	12	8
Other non-cash (income) expenses, net	388,000	459,000	−60,000	483,000	−868,000
Accounts receivable, net	202,000	2	4	−2	0
Inventory	5	−3	−15	0	—
Prepaid expenses and other assets	2	−2	2	−311,000	−5
Accounts payable	−4	4	−229,000	1	886,000
Accrued and other liabilities	−3	−1	−3	7	2
Accrued product warranties	−2	1	486,000	2	0
Deferred revenue	−3	−918,000	12	2	4
Operating lease liabilities	−2	−2	−1	−1	0
Net cash used in operating activities	−50	−72	−55	−82	−52
Purchases of property and equipment	−3	−7	−6	−14	−3
Maturities and purchases of short-term investments, net	11	72	21	−104	0
Net cash provided by investing activities	8	65	15	−118	−3
Proceeds from issuance of common stock and common stock warrants, net of issuance costs	38	0	27	0	—
Proceeds from financing arrangements	27	0	—	—	—
Debt issuance costs	−308,000	0	—	—	—
Payments on financing obligations	−21	0	—	—	—
Proceeds from stock options exercised	83,000	86,000	237,000	0	671,000
Repurchase of shares from employees for income tax withholding purposes	−50,000	−297,000	−310,000	−3	0
Proceeds from contributions to Employee Stock Purchase Plan	107,000	385,000	541,000	492,000	0
Net cash provided by financing activities	43	174,000	26	−4	288
Net change in cash, cash equivalents and restricted cash	706,000	−7	−14	−204	234
Operating leases included in cash used in operating activities	2	2	2	2	0
Interest	520,000	0	0	154,000	2
Purchase of property and equipment included in accounts payable and accrued and other current liabilities	28,000	2	704,000	1	526,000
Adjustment to right-of-use assets from lease modification	4	686,000	—	—	—
Transfers between inventory and property and equipment, net	668,000	1	0	—	—
Application of deferred revenue to financing obligations	7	0	—	—	—

Filings

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Frequently asked questions

What is ESS Tech, Inc.'s CIK number?

ESS Tech, Inc.'s SEC CIK number is 0001819438 (1819438). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find ESS Tech, Inc.'s SEC filings?

All of ESS Tech, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did ESS Tech, Inc. last report earnings?

ESS Tech, Inc. (GWH) most recently filed an earnings 8-K with the SEC on Jun 23, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001819438-26-000053). This is ESS Tech, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is ESS Tech, Inc.'s most recent earnings 8-K?

ESS Tech, Inc.'s latest earnings 8-K (Item 2.02) was filed Jun 23, 2026 under accession 0001819438-26-000053. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View ESS Tech, Inc.'s latest earnings 8-K →
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