ESS Tech, Inc. (GWH) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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GWH Revenue Growth
Revenue Breakdown (FY 2025)
GWH's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
GWH Revenue Analysis (2019–2025)
As of May 8, 2026, ESS Tech, Inc. (GWH) generated trailing twelve-month (TTM) revenue of $1.1 million, reflecting significant decline in growth of -78.6% year-over-year. The most recent quarter (Q1 2026) recorded $128,000 in revenue.
Looking at the longer-term picture, GWH's historical revenue data shows a 3-year CAGR of +21.0%. The company achieved its highest annual revenue of $7.5 million in 2023.
Revenue diversification analysis shows GWH's business is primarily driven by Product (65%), Other Product Or Service (28%), and Service (7%). With over half of revenue concentrated in Product, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including FLUX (-19.7% YoY), NRGV (+362.0% YoY), and STEM (+0.7% YoY), GWH has underperformed the peer group in terms of revenue growth. Compare GWH vs FLUX →
GWH Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| GWHCurrent | $1M | -78.6% | - | -3518.6% | |
 FLUX | $66M | -19.7% | +31.6% | -7.6% | |
 NRGV | $204M | +362.0% | - | -36.5% | |
 STEM | $156M | +0.7% | +33.9% | -38.7% | |
 MVST | $428M | +12.6% | +31.8% | 1.6% | |
 BE | $2.0B | +56.5% | +20.6% | 3.6% |
GWH Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.6M | -74.9% | $-33,412,000 | -2110.7% | $-55,700,000 | -3518.6% |
| 2024 | $6.3M | -16.5% | $-45,358,000 | -720.5% | $-89,798,000 | -1426.5% |
| 2023 | $7.5M | +743.4% | $-12,955,000 | -171.8% | $-85,905,000 | -1139.3% |
| 2022 | $894K | - | $894K | 100.0% | $-105,492,000 | -11800.0% |
| 2021 | $0 | - | $-572,000 | - | $-60,602,000 | - |
| 2020 | $0 | - | $-436,000 | - | $-17,392,000 | - |
| 2019 | $0 | - | $0 | - | $-9,889,000 | - |
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Start ComparisonGWH — Frequently Asked Questions
Quick answers to the most common questions about buying GWH stock.
Is GWH's revenue growth accelerating or slowing?
GWH revenue declined -78.6% year-over-year, contrasting with the 5-year CAGR of N/A. TTM revenue fell to $1M. This reverses the prior growth trend.
What is GWH's long-term revenue growth rate?
ESS Tech, Inc.'s 5-year revenue CAGR of N/A reflects the variable expansion pattern. Current YoY growth of -78.6% is below this long-term average.
How is GWH's revenue distributed by segment?
GWH reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.