Overview

* ESS Tech ( GWH/WS ) Q3 net loss narrows, reflecting high operating expenses and gross loss

* Company announces 50 MWh pilot project with Salt River Project

* ESS secures $40 mln financing, plans $75 mln ATM program

Outlook

* ESS Tech ( GWH/WS ) plans to launch a $75 mln ATM program for flexible capital access

* Company focuses on executing Energy Base platform and scaling manufacturing in 2026

* ESS Tech's ( GWH/WS ) future success to be measured by operational progress, not revenue

Result Drivers

* PILOT PROJECT - ESS announced a 50 MWh Energy Base pilot project with Salt River Project, marking the first large-scale deployment of its next-generation platform

* CAPITAL MANAGEMENT - ESS completed $40 mln financing and repaid $15 mln of promissory note, reflecting capital discipline

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Basic -$0.73

EPS

Q3 Gross -$4.73

Profit mln

Q3 $5.09

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the electrical components & equipment peer group is "buy"

* Wall Street's median 12-month price target for ESS Tech Inc ( GWH/WS ) is $2.75, about 60% below its November 12 closing price of $4.40

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)