Eos Energy Enterprises, Inc. provided revenue guidance for the fourth quarter and full year 2023. For the quarter, the company's revenue is expected to be $6.6 million, up 148% compared to fourth quarter of 2022 revenue of $2.7 million and up 866% compared to third quarter 2023 revenue of $0.7 million. The year-over-year growth in revenue was a result of the Company?s transition from Gen 2.3 to the Eos Z3 Cube while the sequential growth was driven by higher production volumes off its semi-automated production line. The Eos Z3 Cube has higher power density than Gen 2.3 with a streamlined manufacturing process driven by the Eos Z3 battery module design that incorporates 50% fewer cells, weighs 79% less and has 98% less welds that takes current manufacturing cycle time to below 4 minutes versus the Gen 2.3 which took 90 minutes to fully manufacture.

Full year 2023 Revenue is expected to be $16.4 million, a decrease compared to full year 2022 revenue of $17.9 million as the Company reduced and concluded Gen 2.3 production in the first half of 2023, while simultaneously standing up the Eos Z3 iterative manufacturing processes.