ESS Tech (GWH) Operating Income (2020 - 2026)

ESS Tech (GWH) recorded quarterly Operating Income of -$13.8 million in Q1 2026, up 22.99% quarter-over-quarter from -$17.9 million in Q4 2025, and up 24.06% on a YoY basis from -$11.1 million in Q1 2025.

ESS Tech (GWH) Operating Income (2020 - 2026) Analysis & Trends

ESS Tech's Operating Income history runs 7 years deep, the most recent figure standing at -$13.8 million for Q1 2026.

  • In Q1 2026, Operating Income rose 24.06% year-over-year to -$13.8 million; the TTM figure through Mar 2026 stood at -$53.0 million (up 40.03% YoY), while the FY2025 annual figure was -$57.4 million, up 36.07% from the prior year.
  • Operating Income was -$13.8 million for Q1 2026 at ESS Tech, up from -$17.9 million in the prior quarter.
  • In the past five years, Operating Income ranged from a high of -$9.8 million in Q3 2025 to a low of -$31.4 million in Q4 2022.
  • Historically, Operating Income has averaged -$20.7 million across 5 years, with a median of -$22.2 million in 2022.
  • The sharpest annual moves came in 2022 and 2025: Operating Income sank 167.84% in 2022, then jumped 58.57% in 2025.
  • A 5-year view of Operating Income shows it stood at -$31.4 million in 2022, then soared by 39.28% to -$19.1 million in 2023, then dropped by 23.25% to -$23.5 million in 2024, then grew by 23.85% to -$17.9 million in 2025, then gained by 22.99% to -$13.8 million in 2026.
  • The last three Operating Income figures came in at -$13.8 million (Q1 2026), -$17.9 million (Q4 2025), and -$9.8 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Op. Inc (Qtr)
1 Novonix 479.97 Bn 479.92 Bn - -
2 Vertiv Holdings 114.69 Bn 112.19 Bn 999.70 Mn 440.10 Mn
3 Bloom Energy 79.53 Bn 77.06 Bn 225.54 Mn 72.20 Mn
4 nVent Electric 27.08 Bn 26.89 Bn 445.60 Mn 195.70 Mn
5 Hubbell 26.67 Bn 26.16 Bn 505.30 Mn 263.80 Mn
6 Advanced Energy Industries 13.19 Bn 13.19 Bn 200.90 Mn 68.30 Mn
7 Powell Industries 10.63 Bn 10.09 Bn 87.94 Mn 57.58 Mn
8 Ballard Power Systems 10.07 Bn 9.54 Bn 5.64 Mn -11.26 Mn
9 Acuity Inc. (De) 9.39 Bn 9.12 Bn 520.40 Mn 133.00 Mn
10 ESS Tech 23.66 Mn 23.66 Mn -7.04 Mn -13.78 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -13.78 Mn
Dec 31, 2025 -17.89 Mn
Sep 30, 2025 -9.81 Mn
Jun 30, 2025 -11.56 Mn
Mar 31, 2025 -18.15 Mn
Dec 31, 2024 -23.50 Mn
Sep 30, 2024 -23.68 Mn
Jun 30, 2024 -23.13 Mn
Mar 31, 2024 -19.49 Mn
Dec 31, 2023 -19.07 Mn
Sep 30, 2023 -18.13 Mn
Jun 30, 2023 -24.21 Mn
Mar 31, 2023 -24.50 Mn
Dec 31, 2022 -31.40 Mn
Sep 30, 2022 -27.73 Mn
Jun 30, 2022 -24.18 Mn
Mar 31, 2022 -22.19 Mn
Dec 31, 2021 -31.13 Mn
Sep 30, 2021 -11.04 Mn
Jun 30, 2021 -10.15 Mn