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Companies / Industrials / ESS Tech, Inc.
GWHT

ESS Tech, Inc.

IndustrialsElectronic Equipment
Ticker GWHTWILSONVILLE, ORFiscal year ends DecemberBook value per share $-0.09Diluted shares 31.6M

ESS Tech, Inc. develops and manufactures long-duration iron flow batteries and energy storage systems for utilities, independent power providers, and commercial and industrial customers. Its batteries use an electrolyte based primarily on salt, iron, and water, with power and storage capacity configured independently… From the company’s description.

In fiscal 2025, ESS Tech, Inc. reported revenue of $1.58M, down 74.9% from fiscal 2024, and a net loss of $63.44M. Operations used $50.28M in cash.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.58MFY2025
−74.9% year over year
Last 12 mo $-1.17M
-3626.47%FY2025
−2200 percentage points
$-63.44MFY2025
+26.4% year over year
Last 12 mo $-65.83M
-736.13%FY2025
−437.6 percentage points
Last 12 mo 2450.06%
Cash & financing
$-50.28MFY2025
+30.4% year over year
Last 12 mo $-42.09M
$-53.67MFY2025
+32.5% year over year
Last 12 mo $-45.42M
2.01FY2025
Last 12 mo -5.39
14.6MFY2025
+24.0% year over year
Last 12 mo 31.6M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What ESS Tech, Inc. does

In the company’s own words

ESS Tech, Inc. develops and manufactures long-duration iron flow batteries and energy storage systems for utilities, independent power providers, and commercial and industrial customers. Its batteries use an electrolyte based primarily on salt, iron, and water, with power and storage capacity configured independently to support applications ranging from on-site energy resilience to grid stabilization and renewable energy integration. The company’s current product focus is its configurable, gigawatt-hour-scale Energy Base and core power trains that customers can assemble into complete systems; it also maintains warranty and maintenance obligations for its earlier Energy Warehouse and Energy Center products, which are no longer offered for sale. Founded in 2011, ESS became publicly traded through a business combination and completed a legal-entity merger in 2024. It employed 62 full-time employees as of December 31, 2025. Its website is https://investors.essinc.com/.

Company details
Sector
Industrials
Industry (SIC)
Electronic Equipment
Headquarters
WILSONVILLE, OR
Fiscal year end
December
CIK
1819438
SIC
3690

Financial performance, year by year

Fiscal 2021–2025 · USD
$-525.58M$-380.19M$-234.79M$-89.39M$56.01M20212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns ESS Tech, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

11
funds hold it
0 of 35
superinvestors hold it
$0.93M
held by funds, at market

Largest fund holders · ESS Tech, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Extended Market Index Fund
FSMAX · Fidelity Concord Street Trust
—of fund net assets
iShares Micro-Cap ETF
IWC · iShares Trust
0.00%of fund net assets
Select Technology Portfolio
FSPTX · Fidelity Select Portfolios
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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