ESS Tech, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
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Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)
| Years Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenue: | ||
| Revenue | $5,712 | $7,537 |
| Revenue - related parties | 583 | 3 |
| Total revenue | 6,295 | 7,540 |
| Cost of revenue | 51,653 | 20,495 |
| Gross profit (loss) | (45,358) | (12,955) |
| Operating expenses | ||
| Research and development | 11,772 | 42,632 |
| Sales and marketing | 9,161 | 7,744 |
| General and administrative | 23,507 | 22,574 |
| Total operating expenses | 44,440 | 72,950 |
| Loss from operations | (89,798) | (85,905) |
| Other income, net | ||
| Interest income, net | 3,574 | 5,262 |
| Gain on revaluation of common stock warrant liabilities | 115 | 2,292 |
| Other income (expense), net | (113) | 773 |
| Total other income, net | 3,576 | 8,327 |
| Net loss and comprehensive loss to common stockholders | $(86,222) | $(77,578) |
| Net loss per share - basic and diluted | $(7.32) | $(7.27) |
| Weighted average shares used in per share calculation - basic and diluted | 11,773,596 | 10,663,909 |
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