ESS Tech, Inc. (GWH) released its third‑quarter 2025 financial results on November 14, 2025, reporting revenue of $2.4 million and a net loss of $10.4 million for the period.
The company highlighted a $40 million financing from Yorkville Advisors Global, of which it has already repaid $15 million of the promissory note. In addition, ESS Tech completed a $25 million Standby Equity Purchase Agreement and announced plans to launch a $75 million at‑the‑market program with a syndicate of institutional investors, further strengthening its capital base and providing flexibility for future project execution.
ESS Tech’s announcement includes a 50 MWh pilot project with Salt River Project, the first large‑scale deployment of its next‑generation Energy Base platform. The firm’s focus on long‑duration iron‑flow storage, coupled with these financing milestones, signals continued momentum toward commercializing the Energy Base and expanding its pipeline of projects, all of which are material to the company’s strategic and financial outlook.
The fact‑check report notes that the company did not provide analyst consensus estimates, prior‑period comparisons, forward guidance, or management commentary. As a result, investors cannot assess whether the results beat or missed expectations or how the company views its near‑term outlook.
Without those additional details, the primary indicators of strategic progress are the financing activity and the pilot deployment. The net loss reflects ongoing investment in technology development and market expansion, while the capital raises position the company to pursue further deployments of its Energy Base platform.
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