New York, Feb 26, 2026, 15:18 EST — Regular session
- Eos Energy stock dropped after the company’s 2026 revenue forecast missed what analysts had been looking for.
- Fourth-quarter revenue reached an all-time high, though it still fell short of estimates; the loss came in wider than analysts had projected.
- Investors now zero in on how backlog converts, margin trends, and whether execution holds up into the next quarter.
Shares of Eos Energy Enterprises (EOSE.O) tumbled roughly 36% to $7.10 Thursday afternoon. The battery storage firm disappointed with a quarterly revenue miss and a 2026 revenue projection that fell short of forecasts. 1
The rout is testing a stock that’s been fueled by one thing: scale. Eos is hustling to convert its swelling backlog into actual deliveries—punctual, with less snags on the production line.
Eos is projecting 2026 revenue between $300 million and $400 million—well shy of the $471 million analysts were looking for. Fourth-quarter results came in at a loss of 72 cents per share, with revenue reaching $58 million, according to Investing.com data. Shares finished Wednesday’s session at $11.13. 2
Eos wrapped up 2025 holding $624.6 million in cash, thanks to a $600 million senior convertible notes offering and a direct equity raise, according to its latest filing with U.S. regulators. The company said the “substantial doubt” label about its ability to stay afloat is now off the table. For the quarter, Eos booked a gross loss of $54.4 million and posted an adjusted EBITDA loss of $71.5 million. CEO Joe Mastrangelo called the revenue miss “disappointing” and said the focus would shift to “disciplined scale and margin improvement.” New quarterly orders above $240 million pushed the backlog up to $701.5 million, or 2.8 gigawatt-hours of storage. 3
The company’s 8-K, filed Thursday, carried the earnings release as an exhibit, according to the SEC’s filing index. 4
Roughly 126 million shares traded hands—significantly outpacing the usual daily average of 17.9 million. Shares kicked off the session at $7.28 and swung between $6.38 and $7.36, Public.com figures show. The site also notes Eos’s next earnings report lands on May 5. 5
Two terms stand out. “Backlog” refers to signed business that hasn’t yet shipped—revenue that’ll show up down the line, though timing can shift if projects get delayed. Meanwhile, “going concern” is an accounting phrase, basically a test of whether a company has the cash to stay afloat for the next year.
The numbers highlight the pitfalls, too. Rapid revenue jumps often bring uneven quarters, and now, investors are zeroing in on guidance as the standard for progress on automation, cost control, and hitting delivery timelines.
Investors are eyeing that $300 million to $400 million revenue range, waiting to see if management adjusts their target as the year unfolds. They’ll also be tracking whether backlog starts turning into clearer revenue — ideally with stronger margins. The next concrete update comes with the May 5 earnings report, plus any early signals on first-quarter shipment volumes and cost behavior.
