ESS Tech Inc
NYSE: GWH · INDUSTRIALS · ELECTRICAL EQUIPMENT & PARTS
Updated 2026-06-02
ESS Tech Inc (GWH) Financial statements
SEC filings — annual and quarterly data.
Margin trends — annual
| Year | Revenue | Net income | Gross margin | Op. margin | Profit margin |
|---|---|---|---|---|---|
| 2019 | $0.00 | $-11.55M | — | — | — |
| 2020 | $0.00 | $-30.42M | — | — | — |
| 2021 | $686000.00 | $-477.12M | -83.38% | -8,834.11% | -69,550.58% |
| 2022 | $894000.00 | $-77.97M | 100.00% | -11,800.00% | -8,721.36% |
| 2023 | $7.54M | $-77.58M | -171.82% | -1,139.32% | -1,028.89% |
| 2024 | $6.29M | $-86.22M | -720.54% | -1,426.50% | -1,369.69% |
| 2025 | $1.58M | $-63.44M | -2,110.68% | -3,518.64% | -4,007.58% |
Frequently asked questions
What is ESS Tech Inc's revenue?
ESS Tech Inc's trailing twelve-month revenue is $1.58M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is GWH?
In its most recent fiscal year, GWH ran a gross margin of -2,110.68%, an operating margin of -3,518.64%, and a net margin of -4,007.58%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does GWH generate?
GWH produced $-53.67M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is GWH's balance sheet healthy?
GWH holds $14.48M in cash and equivalents against — in long-term debt, on $8.62M of shareholder equity. That debt is best read against the cash flow the business throws off each year.