ESS Tech Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
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Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)
| Years Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Revenue: | ||
| Revenue | $7,537 | $610 |
| Revenue - related parties | 3 | 284 |
| Total revenue | 7,540 | 894 |
| Cost of revenue | 20,495 | — |
| Gross profit (loss) | (12,955) | 894 |
| Operating expenses: | ||
| Research and development | 42,632 | 71,979 |
| Sales and marketing | 7,744 | 6,938 |
| General and administrative | 22,574 | 27,469 |
| Total operating expenses | 72,950 | 106,386 |
| Loss from operations | (85,905) | (105,492) |
| Other income (expenses), net: | ||
| Interest income, net | 5,262 | 2,187 |
| Gain on revaluation of common stock warrant liabilities | 2,292 | 25,788 |
| Other income (expense), net | 773 | (452) |
| Total other income, net | 8,327 | 27,523 |
| Net loss and comprehensive loss to common stockholders | $(77,578) | $(77,969) |
| Net loss per share - basic and diluted | $(0.48) | $(0.51) |
| Weighted average shares used in per share calculation - basic and diluted | 159,958,645 | 152,676,155 |
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