Eos Energy Enterprises Inc. (EOSE) stock plummeted 5.43% in the pre-market session on Thursday, following the release of its Q4 2024 and full-year 2024 financial results.
While the company reported a 10% year-over-year increase in Q4 revenue to $7.3 million and exceeded its revised revenue guidance for the full year, the wider net loss spooked investors. Eos Energy Enterprises reported a net loss of $268.1 million for Q4 2024, significantly higher than the $41.2 million loss in the prior year. The substantial increase in losses was primarily attributed 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. However, the net loss widened significantly to $964.2 million, compared to a $232.7 million loss in the previous year, resulting in a further deterioration in earnings per share to a $4.55 loss.
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