Joint VentureMay 13, 2026, 06:36 AM
Eos Energy Forms Frontier Power USA JV; Q1 Revenue $57M, +445%
AI Summary
Eos Energy Enterprises announced its Q1 2026 financial results, reporting $57.0 million in revenue, a 445% year-over-year increase. The company also formed Frontier Power USA, a joint venture with Cerberus, to develop, finance, and operate long-duration energy storage projects, anchored by a $100 million equity commitment from Cerberus. Eos entered into a 2 GWh firm capacity reservation agreement with Frontier Power USA and reaffirmed its 2026 revenue guidance of $300 million to $400 million.
Key Highlights
- Formed Frontier Power USA, a joint venture with Cerberus, with a $100 million equity commitment from Cerberus.
- Entered into a 2 GWh firm capacity reservation agreement with Frontier Power USA.
- Q1 2026 revenue totaled $57.0 million, a 445% increase year-over-year.
- Reported net income attributable to shareholders of $508.9 million.
- Adjusted gross loss was $39.0 million, a 16-point sequential margin improvement.
- Adjusted EBITDA loss was $68.0 million, a 4-point sequential quarter margin improvement.
- Commercial opportunity pipeline increased to $24.3 billion, up 56% from prior year.
- Orders backlog stood at $644.6 million, representing 2.6 GWh.
- Reaffirmed 2026 revenue guidance of $300 million to $400 million.