ESS Tech (ESS Tech) Cost of Goods Sold : $31.62 Mil (TTM As of Mar. 2024)

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What is ESS Tech Cost of Goods Sold?

ESS Tech's cost of goods sold for the three months ended in Mar. 2024 was $11.13 Mil. Its cost of goods sold for the trailing twelve months (TTM) ended in Mar. 2024 was $31.62 Mil.

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin. ESS Tech's Gross Margin % for the three months ended in Mar. 2024 was -306.36%.

Cost of Goods Sold is also directly linked to Inventory Turnover. ESS Tech's Inventory Turnover for the three months ended in Mar. 2024 was 3.41.

ESS Tech Cost of Goods Sold Historical Data

The historical data trend for ESS Tech's Cost of Goods Sold can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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ESS Tech Cost of Goods Sold Chart

ESS Tech Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Cost of Goods Sold

20.50

ESS Tech Quarterly Data
	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Cost of Goods Sold	Get a 7-Day Free Trial									-	-	10.18	10.31	11.13

ESS Tech Cost of Goods Sold Calculation

Cost of Goods Sold is the aggregate cost of goods produced and sold, and services rendered during the reporting period. It excludes Total Operating Expense, such as Depreciation, Depletion and Amortization and Selling, General, & Admin. Expense.

Cost of Goods Sold for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $31.62 Mil.

ESS Tech (NYSE:GWH) Cost of Goods Sold Explanation

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin.

ESS Tech's Gross Margin % for the three months ended in Mar. 2024 is calculated as:

Gross Margin %	=	(Revenue	-	Cost of Goods Sold)	/	Revenue
	=	(2.738	-	11.126)	/	2.738
	=	-306.36 %

A company that has a moat can usually maintain or even expand their Gross Margin. A company can increase its Gross Margin in two ways. It can increase the prices of the goods it sells and keeps its Cost of Goods Sold unchanged. Or it can keep the sales price unchanged and squeeze its suppliers to reduce the Cost of Goods Sold. Warren Buffett believes businesses with the power to raise prices have moats.

Cost of Goods Sold is also directly linked to another concept called Inventory Turnover:

ESS Tech's Inventory Turnover for the three months ended in Mar. 2024 is calculated as:

Inventory Turnover	=	Cost of Goods Sold	/	Average Total Inventories
	=	11.126	/	3.2635
	=	3.41

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher inventory turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate inventory turnover. An average inventory is a better indication.

ESS Tech Cost of Goods Sold Related Terms

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ESS Tech (ESS Tech) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » ESS Tech Inc (NYSE:GWH) » Definitions » Cost of Goods Sold

Comparable Companies

Traded in Other Exchanges

GWHWS:USA

Address

26440 SW Parkway Avenue, Building 83, Wilsonville, OR, USA, 97070

Website

https://www.essinc.com

ESS Tech Inc is a long-duration energy storage company specializing in iron flow battery technology. The company design and produce long-duration batteries predominantly using earth-abundant materials.

Executives

Harry Quarls	director	14701 ST. MARY'S LANE, SUITE 275, HOUSTON TX 77079
Kyle Teamey	director	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Honeywell International Inc	10 percent owner	855 S. MINT STREET, CHARLOTTE NC 28202
Sandeep Nijhawan	director	ESS TECH, INC., 26440 SW PARKWAY AVE., BLDG 83, WILSONVILLE OR 97070
Michael R Niggli	director	101 ASH STREET HQ18, SAN DIEGO CA 92101
Rich Hossfeld	director	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Craig E Evans	director, officer: President	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Eric P. Dresselhuys	director, officer: Chief Executive Officer	555 BROADWAY STREET, REDWOOD CITY CA 94063
Anthony Rabb	officer: Chief Financial Officer	C/O ESS TECH, INC., 26440 SW PARKWAY AVE., BLDG 83, WILSONVILLE OR 97070
Amir Moftakhar	officer: Chief Financial Officer	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Claudia Gast	director	C/O GLOBAL TECHNOLOGY ACQUISITION CORP I, 19 WEST 24TH STREET, 10TH FLOOR, NEW YORK NY 10010
Jeff Bodner	officer: Chief Accounting Officer	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE CA 97070
Breakthrough Energy Investments Llc	10 percent owner	250 SUMMER STREET, 4TH FLOOR, BOSTON MA 02210
Julia Song	officer: Chief Technology Officer	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Shirley Speakman	director	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070