Eos Energy Enterprises Inc. (EOSE) stock experienced a pre-market plunge of 5.23% on Thursday, following the release of the company's Q4 2024 and full-year 2024 financial results.
Despite reporting a 10% year-over-year increase in Q4 revenue to $7.3 million and exceeding revenue expectations for the full year, the company's earnings disappointed investors. Eos Energy Enterprises reported a net loss of $268.1 million for Q4 2024, compared to a $41.2 million loss in the prior year. The wider loss was primarily due to changes in the fair value of derivatives.
For the full year 2024, the company's revenue slightly decreased to $15.6 million from $16.4 million in 2023, while the net loss widened significantly to $964.2 million, compared to a $232.7 million loss in the previous year. Earnings per share deteriorated to a $4.55 loss, missing analyst estimates.
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