EOS Energie Shares Plummet Despite Record Revenue Growth

Eos Energy Enterprises (EOSE) shares plummeted despite a massive surge in quarterly revenue, which rose by 351% to $68.8 million.

The company reported a net loss of $275.7 million, but secured a major battery order worth $100 million from Frontier Power USA for the Blanquilla project's first phase.

Eos' backlog reached an all-time high of $807 million after orders from six customers, with four new customers and two repeat customers placing additional commitments.