ESS Tech, Inc.GWH

ESS Tech, Inc. Segments Disclosure

10-KFiled Mar 31, 20251 min read
SEGMENT AND OTHER INFORMATION
The Company has determined that its interim Chief Executive Officer is its chief operating decision maker (“CODM”). The Company operates as a single business operating segment, which includes all activities related to the design, engineering, and manufacturing of the Company’s long duration energy storage products. Accordingly, the CODM uses gross loss and net loss as reported in the statements of operations to assess financial performance and inform decisions on how to allocate resources. The financial information provided to the CODM does not contain significant disaggregated expenses outside of what is already disclosed in the statements of operations. The CODM does not evaluate results using asset or liability information.
Revenue from major customers during the years ended December 31, 2024 and 2023 accounted for the following as percentages of total revenue:
Years Ended December 31,
20242023
Customer A45 %
Customer B34 %
Customer C28 %
Customer D16 %
Revenue was geographically located as follows (in thousands):
Years Ended December 31,
20242023
United States$3,443 $5,078 
International2,852 2,462 
Total revenue$6,295 $7,540 
Substantially all of the Company’s long-lived assets and operating lease right-of-use assets were located in the United States as of December 31, 2024 and 2023.
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About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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