Eos Energy Enterprises Inc
For the period ended Dec 31, 2023. Filed Mar 4, 2024.
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FY2023 · Filed Mar 4, 2024
EOSE$1.74-7.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Cash Flows for the Years Ended
EOS ENERGY ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands, except share and per share amounts)
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities | ||
| Net loss | $(229,506) | $(229,813) |
| Adjustment to reconcile net loss to net cash used in operating activities | ||
| Stock-based compensation | 14,057 | 13,794 |
| Depreciation and amortization | 9,751 | 6,814 |
| Loss from write-down of property, plant and equipment | 7,159 | 6,846 |
| Amortization of right-of-use assets | 1,023 | 865 |
| Non-cash interest expense | 4,972 | 1,886 |
| Non-cash interest expense - related party | 36,903 | 10,899 |
| Commitment fee for SEPA settled by common stock - related party | — | 1,061 |
| Loss on debt extinguishment | 3,510 | 942 |
| Change in fair value of warrants | 24,980 | (848) |
| Change in fair value of derivatives - related parties | (9,983) | (10,880) |
| Other | 1,850 | (397) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | 1,207 | 304 |
| Inventory | 6,190 | (10,284) |
| Accounts receivable | (1,713) | 234 |
| Vendor deposits | (2,377) | 6,808 |
| Contract assets | (6,322) | (631) |
| Grant receivable | (2,993) | — |
| Accounts payable | (11,475) | 19,516 |
| Accrued expenses | 19,349 | 5,079 |
| Accounts payable and accrued expenses-related parties | — | (1,200) |
| Operating lease liabilities | (1,130) | (785) |
| Contract liabilities | 1,804 | 3,957 |
| Note payable | — | (19,637) |
| Other receivables | (7,500) | — |
| Other | (4,774) | (1,387) |
| Net cash used in operating activities | (145,018) | (196,857) |
| Cash flows from investing activities | ||
| Investment in notes receivable | — | (261) |
| Proceeds from notes receivable | — | 3,163 |
| Purchases of intangible assets | (138) | — |
| Purchases of property, plant and equipment | (29,323) | (20,072) |
| Net cash used in investing activities | (29,461) | (17,170) |
| Cash flows from financing activities | ||
| Proceeds from issuance of convertible notes payable – related party, net of discount | 48,050 | 9,310 |
| Payment of debt issuance costs - related party | (1,116) | (304) |
| Proceeds received from the Senior Secured Term Loan, net of discount | — | 97,992 |
| Payment of debt issuance costs | (3,046) | (12,398) |
EOS ENERGY ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands, except share and per share amounts)
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Principal payments on finance lease obligations | (96) | (14) |
| Proceeds from equipment financing facility | — | 4,216 |
| Repayment of equipment financing facility | (2,867) | (1,913) |
| Issuance of common stock and warrants | 192,167 | 43,626 |
| Payment of equity issuance costs | (5,003) | — |
| Proceeds from exercise of stock options | 462 | — |
| Proceeds from exercise of public warrants | — | 7 |
| Repurchase of shares from employees for income tax withholding purposes | (633) | (978) |
| Net cash provided by financing activities | 227,918 | 139,544 |
| Effect of foreign exchange on cash, cash equivalents and restricted cash | 5 | 14 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 53,444 | (74,469) |
| Cash, cash equivalents and restricted cash, beginning of year | 31,223 | 105,692 |
| Cash, cash equivalents and restricted cash, end of year | $84,667 | $31,223 |
| Non-cash investing and financing activities: | ||
| Right-of-use operating lease assets in exchange for lease liabilities | 718 | 2,112 |
| Fixed assets acquired with finance lease | 125 | 147 |
| Accrued and unpaid capital expenditures | 548 | 2,626 |
| Issuance of convertible notes for interest paid-in-kind | 10,327 | 6,267 |
| Issuance of common stock upon settlement of Yorkville Convertible Notes | 51,023 | 7,534 |
| Accrued and unpaid debt issuance costs | — | 5,536 |
| Supplemental disclosures | ||
| Cash paid for interest | $15,133 | $5,766 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.