ESS Tech (GWH) Research & Development (2021 - 2026)
ESS Tech's Research & Development came in at $2.2 million for Q2 2026, up 54.6% from $1.42 million a year earlier but down 16.2% from the prior quarter.
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Analysis
ESS Tech (GWH) Research & Development (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, ESS Tech reported Research & Development of $9.22 million, down 0.8% year-over-year; for FY2025, it was $8.3 million, down 29.5% from FY2024.
- Research & Development has declined in each of the last three years, with a five-year compound annual growth rate of -8.4% (FY2020 to FY2025).
- Going back by year, Research & Development was $11.77 million in FY2024 (-72.4%), $42.63 million in FY2023 (-40.8%), $71.98 million in FY2022 (+137.8%) and $30.28 million in FY2021 (+134.8%).
- The five-year range for quarterly Research & Development is $1.03 million (Q3 2025) to $22.79 million (Q4 2022).
- Year-over-year, Research & Development has increased for three consecutive quarters, with an average decline of 2.4% over the last eight quarters.
- The fastest year-over-year change in Research & Development over five years came in Q3 2022 (growth of 162.3%), and the weakest in Q3 2023 (a decline of 92.0%).
- Business Quant data shows GWH's Research & Development at $2.63 million (Q1 2026), $3.37 million (Q4 2025) and $1.03 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.99 Bn | 214.06 Bn | 2.36 Bn | 334.00 Mn |
| 2 | Bloom Energy | 81.25 Bn | 73.07 Bn | 355.57 Mn | 58.87 Mn |
| 3 | First Solar | 18.82 Bn | 9.78 Bn | 605.00 Mn | 76.24 Mn |
| 4 | BWX Technologies | 12.55 Bn | 10.85 Bn | 202.31 Mn | 4.17 Mn |
| 5 | Generac Holdings | 12.21 Bn | 11.04 Bn | 521.81 Mn | 65.78 Mn |
| 6 | Nextpower | 11.82 Bn | 7.71 Bn | 335.85 Mn | 44.51 Mn |
| 7 | EnerSys | 6.67 Bn | 4.86 Bn | 313.36 Mn | - |
| 8 | Enphase Energy | 4.36 Bn | -500.13 Mn | 175.01 Mn | 45.66 Mn |
| 9 | Mirion Technologies | 3.45 Bn | 1.34 Bn | 133.10 Mn | 10.10 Mn |
| 10 | ESS Tech | 5.59 Mn | 5.59 Mn | -7.42 Mn | 2.20 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.20 Mn |
| Mar 31, 2026 | 2.63 Mn |
| Dec 31, 2025 | 3.37 Mn |
| Sep 30, 2025 | 1.03 Mn |
| Jun 30, 2025 | 1.42 Mn |
| Mar 31, 2025 | 2.48 Mn |
| Dec 31, 2024 | 2.71 Mn |
| Sep 30, 2024 | 2.68 Mn |
| Jun 30, 2024 | 2.84 Mn |
| Mar 31, 2024 | 3.55 Mn |
| Dec 31, 2023 | 3.84 Mn |
| Sep 30, 2023 | 1.61 Mn |
| Jun 30, 2023 | 19.45 Mn |
| Mar 31, 2023 | 17.73 Mn |
| Dec 31, 2022 | 22.79 Mn |
| Sep 30, 2022 | 20.13 Mn |
| Jun 30, 2022 | 16.17 Mn |
| Mar 31, 2022 | 12.90 Mn |
| Dec 31, 2021 | 10.73 Mn |
| Sep 30, 2021 | 7.67 Mn |
API Access
ESS Tech Research & Development 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=research-and-development&ticker=GWH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=GWH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();