ESS Tech (GWH) Operating Expenses (2020 - 2026)
ESS Tech's Operating Expenses came in at $7.71 million for Q2 2026, up 19.5% from $6.46 million a year earlier and up 14.4% from the prior quarter.
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Analysis
ESS Tech (GWH) Operating Expenses (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, ESS Tech reported Operating Expenses of $27.74 million, down 27.1% year-over-year; for FY2025, it was $29.74 million, down 33.1% from FY2024.
- Operating Expenses has declined in each of the last three years, though with a five-year compound annual growth rate of 11.3% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $44.44 million in FY2024 (-39.1%), $72.95 million in FY2023 (-31.4%), $106.39 million in FY2022 (+75.5%) and $60.6 million in FY2021 (+248.4%).
- The five-year range for quarterly Operating Expenses is $5.09 million (Q3 2025) to $31.41 million (Q4 2022).
- Year-over-year, Operating Expenses increased in two of the last eight quarters, with an average decline of 16.9%.
- The fastest year-over-year change in Operating Expenses over five years came in Q1 2022 (growth of 167.8%), and the weakest in Q3 2023 (a decline of 66.0%).
- Business Quant data shows GWH's Operating Expenses at $6.74 million (Q1 2026), $8.19 million (Q4 2025) and $5.09 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.99 Bn | 214.06 Bn | 2.36 Bn | 1.71 Bn |
| 2 | Bloom Energy | 81.25 Bn | 73.07 Bn | 355.57 Mn | 173.34 Mn |
| 3 | First Solar | 18.82 Bn | 9.78 Bn | 605.00 Mn | 154.62 Mn |
| 4 | BWX Technologies | 12.55 Bn | 10.85 Bn | 202.31 Mn | 811.92 Mn |
| 5 | Generac Holdings | 12.21 Bn | 11.04 Bn | 521.81 Mn | 311.38 Mn |
| 6 | Nextpower | 11.82 Bn | 7.71 Bn | 335.85 Mn | 144.95 Mn |
| 7 | EnerSys | 6.67 Bn | 4.86 Bn | 313.36 Mn | 151.24 Mn |
| 8 | Enphase Energy | 4.36 Bn | -500.13 Mn | 175.01 Mn | 123.50 Mn |
| 9 | Mirion Technologies | 3.45 Bn | 1.34 Bn | 133.10 Mn | 115.20 Mn |
| 10 | ESS Tech | 5.59 Mn | 5.59 Mn | -7.42 Mn | 7.71 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 7.71 Mn |
| Mar 31, 2026 | 6.74 Mn |
| Dec 31, 2025 | 8.19 Mn |
| Sep 30, 2025 | 5.09 Mn |
| Jun 30, 2025 | 6.46 Mn |
| Mar 31, 2025 | 10.00 Mn |
| Dec 31, 2024 | 10.31 Mn |
| Sep 30, 2024 | 11.30 Mn |
| Jun 30, 2024 | 11.73 Mn |
| Mar 31, 2024 | 11.11 Mn |
| Dec 31, 2023 | 11.55 Mn |
| Sep 30, 2023 | 9.50 Mn |
| Jun 30, 2023 | 27.03 Mn |
| Mar 31, 2023 | 24.87 Mn |
| Dec 31, 2022 | 31.41 Mn |
| Sep 30, 2022 | 27.92 Mn |
| Jun 30, 2022 | 24.86 Mn |
| Mar 31, 2022 | 22.19 Mn |
| Dec 31, 2021 | 31.13 Mn |
| Sep 30, 2021 | 11.04 Mn |
API Access
ESS Tech Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=GWH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "GWH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=GWH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();