ESS Tech, Inc. financials
Source: EDGAR filings · Built 2026-06-19T01:00:10Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -53.67M | -79.51M | -60.69M | -95.80M | -54.62M | -17.15M |
| EBITDA | -51.67M | -85.07M | -79.39M | -103.97M | -60.03M | -16.96M |
| Working Capital | 955.00K | 15.76M | 98.33M | 123.64M | 231.90M | -1.53M |
| Net Debt | 6.70M | -11.65M | -17.63M | -28.79M | -235.17M | 796.00K |
| Gross Margin | -1748.07% | -720.54% | -171.82% | 100.00% | — | — |
| Operating Margin | -3626.47% | -1426.50% | -1139.32% | -11800.00% | — | — |
| Net Margin | -4007.58% | -1369.69% | -1028.89% | -8721.36% | — | — |
| Return on Equity (ROE) | -736.13% | -298.51% | -75.06% | -56.92% | -232.56% | 109.08% |
| Return on Assets (ROA) | -123.97% | -120.06% | -54.16% | -44.93% | -190.69% | -337.13% |
| Current Ratio | 1.04× | 1.57× | 5.97× | 5.42× | 18.02× | 0.82× |
| Debt-to-Equity | 2.46× | 0.06× | 0.02× | 0.04× | 0.02× | -0.20× |
| Cash Conversion Ratio | 0.79× | 0.84× | 0.71× | 1.05× | 0.11× | 0.55× |
| Accruals Ratio | -0.26× | -0.20× | -0.16× | 0.02× | -1.70× | -1.53× |
| SBC % of Revenue | 343.27% | 183.88% | 141.05% | 1329.87% | — | — |
| CapEx Coverage | -14.85× | -9.90× | -9.48× | -5.76× | -18.74× | -33.16× |
| Free Cash Flow Per Share | $-3.68 | $-6.75 | $-5.69 | $-0.63 | $-0.66 | $-0.29 |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 1.58M | 6.29M | 7.54M | 894.00K | 0 | 0 |
| Cost of Revenue | 29.25M | 51.65M | 20.50M | 0 | — | — |
| Gross Profit | -27.67M | -45.36M | -12.96M | 894.00K | — | — |
| Research and Development Expense | 8.30M | 11.77M | 42.63M | 71.98M | 30.27M | 12.90M |
| Operating Expenses | 29.73M | 44.44M | 72.95M | 106.39M | 60.60M | 17.39M |
| Operating Income (Loss) | -57.41M | -89.80M | -85.91M | -105.49M | -60.60M | -17.39M |
| Income Tax Expense (Benefit) | 0 | — | — | — | — | — |
| Net Income (Loss) Attributable to Parent | -63.44M | -86.22M | -77.58M | -77.97M | -477.12M | -30.42M |
| Earnings Per Share, Basic | $-4.34 | $-7.32 | $-7.27 | $-0.51 | $-5.73 | $-0.52 |
| Weighted Average Number of Shares Outstanding, Basic | 14.60M | 11.77M | 10.66M | 152.68M | 83.26M | 58.88M |
| Earnings Per Share, Diluted | $-4.34 | $-7.32 | $-7.27 | $-0.51 | $-5.73 | $-0.52 |
| Weighted Average Number of Shares Outstanding, Diluted | 14.60M | 11.77M | 10.66M | 152.68M | 83.26M | 58.88M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 14.48M | 13.34M | 20.16M | 34.77M | 238.94M | 4.90M |
| Assets, Current | 26.25M | 43.36M | 118.10M | 151.64M | 245.52M | 6.86M |
| Assets | 51.17M | 71.81M | 143.23M | 173.55M | 250.20M | 9.02M |
| Long-term Debt | — | — | 0 | 1.92M | 3.77M | 5.70M |
| Liabilities, Current | 25.29M | 27.60M | 19.77M | 27.99M | 13.62M | 8.39M |
| Long-term Debt, Excluding Current Maturities | — | — | 0 | 315.00K | 1.87M | 19.00K |
| Liabilities | 42.55M | 42.93M | 39.88M | 36.58M | 45.04M | 36.91M |
| Stockholders' Equity Attributable to Parent | 8.62M | 28.88M | 103.36M | 136.97M | 205.16M | -27.89M |
| Common Stock, Shares, Outstanding | 22.38M | 11.99M | 11.61M | 153.82M | 151.84M | 58.92M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -50.28M | -72.22M | -54.90M | -81.62M | -51.85M | -16.64M |
| Payments to Acquire Property, Plant, and Equipment | 3.39M | 7.29M | 5.79M | 14.18M | 2.77M | 502.00K |
| Net Cash Provided by (Used in) Investing Activities | 7.53M | 64.76M | 15.07M | -117.88M | -2.77M | -502.00K |
| Net Cash Provided by (Used in) Financing Activities | 43.46M | 174.00K | 25.65M | -4.07M | 288.45M | 4.72M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -14.39M | -16.17M | -37.50M | -32.09M | -19.00M | -23.95M |
| EBITDA | -11.40M | -16.72M | — | — | -16.61M | -22.07M |
| Working Capital | 1.76M | 955.00K | -12.25M | -12.79M | 1.45M | 15.76M |
| Net Debt | 5.96M | 6.70M | 7.42M | 75.00K | -7.13M | -11.65M |
| Gross Margin | -5498.44% | 610.77% | -2207.94% | -216.33% | -1360.10% | -462.74% |
| Operating Margin | -10765.63% | 1126.76% | -4584.58% | -490.12% | -3029.38% | -824.46% |
| Net Margin | -12439.06% | 1510.26% | -4848.13% | -468.87% | -3009.35% | -823.82% |
| Return on Equity (ROE) | -168.56% | -278.29% | 587.15% | -334.62% | -149.23% | -81.29% |
| Return on Assets (ROA) | -32.78% | -46.87% | -28.70% | -27.91% | -33.64% | -32.69% |
| Current Ratio | 1.08× | 1.04× | 0.49× | 0.47× | 1.06× | 1.57× |
| Debt-to-Equity | 2.27× | 2.46× | -6.20× | 0.26× | 0.11× | 0.06× |
| Cash Conversion Ratio | 0.85× | 0.58× | 3.51× | 2.77× | 1.01× | 0.87× |
| Accruals Ratio | -0.05× | -0.20× | 0.72× | 0.49× | 0.00× | -0.04× |
| SBC % of Revenue | 831.25% | -93.77% | 1843.46% | 114.46% | 206.01% | 106.56% |
| CapEx Coverage | -14.47× | -5.99× | -33.92× | -20.52× | -23.93× | -5.90× |
| Free Cash Flow Per Share | $-0.49 | $-1.11 | $-2.65 | $-2.61 | $-1.58 | $-2.03 |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 128.00K | -1.59M | 214.00K | 2.36M | 599.00K | 2.85M |
| Cost of Revenue | 7.17M | 8.11M | 4.94M | 7.46M | 8.75M | 16.04M |
| Gross Profit | -7.04M | -9.70M | -4.72M | -5.10M | -8.15M | -13.19M |
| Research and Development Expense | 2.63M | 3.37M | 1.03M | 1.42M | 2.48M | 2.71M |
| Operating Expenses | 6.74M | 8.19M | 5.09M | 6.46M | 10.00M | 10.31M |
| Operating Income (Loss) | -13.78M | -17.89M | -9.81M | -11.56M | -18.15M | -23.50M |
| Income Tax Expense (Benefit) | 0 | 0 | 0 | 0 | 0 | — |
| Net Income (Loss) Attributable to Parent | -15.92M | -23.98M | -10.38M | -11.06M | -18.03M | -23.48M |
| Earnings Per Share, Basic | $-0.54 | $-1.26 | $-0.73 | $-0.90 | $-1.50 | $-1.97 |
| Weighted Average Number of Shares Outstanding, Basic | 29.29M | 14.60M | 14.15M | 12.27M | 12.03M | 11.77M |
| Earnings Per Share, Diluted | $-0.54 | $-1.26 | $-0.73 | $-0.90 | $-1.50 | $-1.97 |
| Weighted Average Number of Shares Outstanding, Diluted | 29.29M | 14.60M | 14.15M | 12.27M | 12.03M | 11.77M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 15.49M | 14.48M | 3.54M | 797.00K | 8.42M | 13.34M |
| Assets, Current | 24.77M | 26.25M | 11.56M | 11.17M | 23.69M | 43.36M |
| Assets | 48.57M | 51.17M | 36.15M | 39.62M | 53.58M | 71.81M |
| Liabilities, Current | 23.01M | 25.29M | 23.80M | 23.96M | 22.25M | 27.60M |
| Liabilities | 39.13M | 42.55M | 37.91M | 36.31M | 41.50M | 42.93M |
| Stockholders' Equity Attributable to Parent | 9.45M | 8.62M | -1.77M | 3.30M | 12.08M | 28.88M |
| Common Stock, Shares, Outstanding | 27.92M | 22.38M | 15.39M | 12.90M | 12.10M | 11.99M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -13.46M | -13.85M | -36.43M | -30.60M | -18.24M | -20.48M |
| Payments to Acquire Property, Plant, and Equipment | 930.00K | 2.31M | 1.07M | 1.49M | 762.00K | 3.47M |
| Net Cash Provided by (Used in) Investing Activities | 725.00K | -9.81M | 17.34M | 16.92M | 13.25M | 20.87M |
| Net Cash Provided by (Used in) Financing Activities | 14.05M | 34.60M | 8.86M | 803.00K | -13.00K | 125.00K |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (GWH CIK 0001819438),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.