ESS Tech Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
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Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenue: | ||
| Revenue | $2,214 | $371 |
| Revenue - related parties | 524 | 1 |
| Total revenue | 2,738 | 372 |
| Cost of revenue | 11,126 | — |
| Gross profit (loss) | (8,388) | 372 |
| Operating expenses: | ||
| Research and development | 3,546 | 17,732 |
| Sales and marketing | 2,034 | 1,852 |
| General and administrative | 5,526 | 5,287 |
| Total operating expenses | 11,106 | 24,871 |
| Loss from operations | (19,494) | (24,499) |
| Other income (expenses), net: | ||
| Interest income, net | 1,239 | 1,252 |
| Gain on revaluation of common stock warrant liabilities | — | 688 |
| Other income (expense), net | (55) | 658 |
| Total other income, net | 1,184 | 2,598 |
| Net loss and comprehensive loss to common stockholders | $(18,310) | $(21,901) |
| Net loss per share - basic and diluted | $(0.10) | $(0.14) |
| Weighted-average shares used in per share calculation - basic and diluted | 174,514,538 | 154,123,911 |
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