Eos Energy Enterprises revenue jumps 351% with record backlog

Eos Energy Enterprises reported a 351% year-over-year increase in Q2 2026 revenue, reaching $68.8 million. The company ended the quarter with a record backlog of $807 million and a commercial opportunity pipeline valued at $24.6 billion.

Despite the revenue surge, driven by a 207% increase in cube deliveries, the company reported a gross loss of $48.8 million, resulting in a negative gross margin of 71%. Eos attributed the loss to scaling production and manufacturing underutilization across two facilities. However, the gross margin showed improvement of 132 percentage points year-over-year due to increased volumes and lower conversion costs.

Net loss attributable to shareholders was $275.7 million, primarily driven by mark-to-market fair-value adjustments on liabilities related to stock price changes. The company held $364.1 million in total cash as of June 30.