ESS Tech Inc. (GWH) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
26440 SW PARKWAY AVE. WILSONVILLE, OR 97070 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 369 - Miscellaneous Electrical Machinery, Equipment, and Supplies (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 89,552 | 108,064 | 124,502 | 99,503 | 119,007 | 139,814 | |||
| Cash and cash equivalents | 36,332 | 20,165 | 37,173 | 30,287 | 87,811 | 34,767 | |||
| Short-term investments | 53,220 | 87,899 | 87,329 | 69,216 | 31,196 | 105,047 | |||
| Restricted cash and investments | 906 | 1,373 | 1,373 | 1,373 | 1,413 | 1,213 | |||
| Receivables | 1,039 | 2,814 | 1,265 | 1,393 | 689 | 4,952 | |||
| Inventory, net of allowances, customer advances and progress billings | 3,161 | 3,366 | 2,256 | ||||||
| Inventory | 3,161 | 3,366 | 2,256 | ||||||
| Prepaid expense | 1,457 | 3,385 | 5,180 | ||||||
| Other undisclosed current assets | 3,588 | 1,024 | 2,035 | 3,148 | 567 | 477 | |||
| Total current assets: | 98,246 | 118,098 | 131,431 | 105,417 | 125,061 | 151,636 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 1,841 | 2,167 | 2,485 | 2,797 | 3,102 | 3,401 | |||
| Property, plant and equipment | 16,928 | 16,266 | 17,986 | 18,483 | 18,373 | 17,570 | |||
| Intangible assets, net (including goodwill) | 4,857 | 4,923 | 4,990 | ||||||
| Intangible assets, net (excluding goodwill) | 4,857 | 4,923 | 4,990 | ||||||
| Restricted cash and investments | 946 | 945 | 945 | 944 | 676 | 675 | |||
| Other noncurrent assets | 816 | 833 | 824 | 115 | 239 | 271 | |||
| Total noncurrent assets: | 25,388 | 25,134 | 27,230 | 22,339 | 22,390 | 21,917 | |||
| TOTAL ASSETS: | 123,634 | 143,232 | 158,661 | 127,756 | 147,451 | 173,553 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 8,908 | 11,367 | 11,194 | 11,916 | 9,088 | 8,638 | |||
| Accounts payable | 2,910 | 2,755 | 3,192 | 2,838 | 2,699 | 3,036 | |||
| Accrued liabilities | 5,998 | 8,612 | 8,002 | 9,078 | 6,389 | 5,602 | |||
| Deferred revenue | 5,555 | 2,546 | 1,424 | 3,167 | 5,929 | 6,168 | |||
| Debt | 1,127 | 1,522 | 1,600 | ||||||
| Customer refund liability | 910 | 545 | 922 | 1,014 | 1,014 | 770 | |||
| Other undisclosed current liabilities | 4,514 | 5,308 | 5,099 | 5,481 | 5,468 | 10,817 | |||
| Total current liabilities: | 19,887 | 19,766 | 18,639 | 22,705 | 23,021 | 27,993 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 315 | ||||||||
| Long-term debt, excluding current maturities | 315 | ||||||||
| Liabilities, other than long-term debt | 15,010 | 19,157 | 21,265 | 5,115 | 4,673 | 5,062 | |||
| Deferred revenue | 14,400 | 18,200 | 19,900 | 3,348 | 2,442 | 2,442 | |||
| Other liabilities | 80 | 85 | |||||||
| Operating lease, liability | 610 | 957 | 1,365 | 1,767 | 2,151 | 2,535 | |||
| Other undisclosed noncurrent liabilities | 917 | 952 | 2,297 | 2,636 | 2,521 | 3,209 | |||
| Total noncurrent liabilities: | 15,927 | 20,109 | 23,562 | 7,751 | 7,194 | 8,586 | |||
| Total liabilities: | 35,814 | 39,875 | 42,201 | 30,456 | 30,215 | 36,579 | |||
| Equity | |||||||||
| Equity, attributable to parent | 87,820 | 103,357 | 116,460 | 97,300 | 117,236 | 136,974 | |||
| Common stock | 18 | 18 | 18 | 16 | 16 | 16 | |||
| Additional paid in capital | 802,269 | 799,496 | 796,469 | 760,693 | 757,700 | 755,537 | |||
| Accumulated deficit | (714,467) | (696,157) | (680,027) | (663,409) | (640,480) | (618,579) | |||
| Total equity: | 87,820 | 103,357 | 116,460 | 97,300 | 117,236 | 136,974 | |||
| TOTAL LIABILITIES AND EQUITY: | 123,634 | 143,232 | 158,661 | 127,756 | 147,451 | 173,553 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,738 | 2,796 | 1,545 | 2,827 | 372 | 16 | ||
| Cost of revenue | (11,126) | (10,312) | (10,183) | |||||
| Cost of goods and services sold | 1,979 | (1,147) | (11,400) | |||||
| Gross profit: | (8,388) | (7,516) | (8,638) | 2,827 | 372 | 16 | ||
| Operating expenses | (11,106) | (11,549) | (9,496) | (27,034) | (24,871) | (31,412) | ||
| Operating loss: | (19,494) | (19,065) | (18,134) | (24,207) | (24,499) | (31,396) | ||
| Nonoperating income | 1,184 | 2,935 | 1,516 | 1,278 | 2,598 | 6,321 | ||
| Other nonoperating income (expense) | (55) | 35 | 17 | 63 | 658 | (140) | ||
| Net loss available to common stockholders, diluted: | (18,310) | (16,130) | (16,618) | (22,929) | (21,901) | (25,075) | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (18,310) | (16,130) | (16,618) | (22,929) | (21,901) | (25,075) | ||
| Comprehensive loss, net of tax, attributable to parent: | (18,310) | (16,130) | (16,618) | (22,929) | (21,901) | (25,075) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.