Summary by Moomoo AI
Eos Energy, a provider of innovative battery energy storage systems, has reported a significant increase in revenue for the three months ended June 30, 2024, with a 261% rise to $898,000 compared to $249,000 in the same period in 2023. However, for the six months ended June 30, 2024, revenue decreased by 17% to $7.5 million from $9.1 million in the previous year. The company's cost of goods sold also increased, with a 26% rise for the three-month period and an 11% increase for the six-month period. Research and development expenses decreased by 15% and 10% for the three and six months, respectively, while selling, general, and administrative expenses saw a reduction of 14% and 6% for the same periods. Eos Energy recognized a gain on debt extinguishment of $68.5 million from the payoff of...Show More