EOSEEos Energy Enterprises, Inc.
Miscellaneous Electrical Machinery, Equipment & Supplies
- Revenue
- $114M
- 632% YoY
- Operating margin
- -227.0%
- 80% YoY
- EBITDA
- −$245M
- 46% YoY
- Market cap
- $644M
- Employees
- 787
- $145K revenue each
- Net debt / EBITDA
- —
- $312M net debt
- AI in 10-K
- 3.7
- mentions per 10K words
Takeover score 6 of 13
Fixable underperformance 2 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo$5M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes22% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentYes75% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$145K · 10th pctBottom quartile of its SIC industry
- Quiet on AINo3.7 per 10K words · 76th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$644M market capMarket cap $500M–$5B
Catalysts 2 of 2
- Active 13DYes1 filingActive-intent 13D in 18 months
- Net insider sellingYes−$17M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $5M | $18M | $16M | $16M | $114M | 632% |
| Operating income | −$135M | −$221M | −$153M | −$175M | −$259M | 48% |
| Net income | −$124M | −$230M | −$230M | −$686M | −$970M | 41% |
| Operating cash flow | −$116M | −$197M | −$145M | −$154M | −$211M | 37% |
| Capex | $16M | $20M | $29M | $33M | $54M | 62% |
| Stock-based comp | $15M | $14M | $14M | $19M | $25M | 32% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Oct 23, 2020 | DEFM14A | B. Riley Financial, Inc. | $10.00 | 0% |
| Sep 11, 2020 | PREM14A | B. Riley Principal Merger Corp. II | $10.00 | 0% |
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Aug 6, 2026 | Cerberus Capital Management II, L.P. | SCHEDULE 13D/A | 32.6% | Passive |
| Jul 9, 2026 | Cerberus Capital Management II, L.P. | SCHEDULE 13D/A | 94.1% | Active |
| Jul 2, 2026 | Cerberus Capital Management II, L.P. | SCHEDULE 13D/A | 31.1% | Passive |
| May 14, 2026 | Cerberus Capital Management II, L.P. | SCHEDULE 13D/A | 32.0% | Passive |
| Apr 20, 2026 | Cerberus Capital Management II, L.P. | SCHEDULE 13D/A | 32.0% | Passive |
| Mar 17, 2025 | Cerberus Capital Management II, L.P. | SCHEDULE 13D/A | 41.2% | Active |
| Jan 27, 2025 | Cerberus Capital Management II, L.P. | SCHEDULE 13D/A | 41.4% | Active |
| Dec 17, 2024 | Cerberus Capital Management II, L.P. | SC 13D/A | 39.5% | Passive |
| Nov 4, 2024 | Cerberus Capital Management II, L.P. | SC 13D/A | 39.5% | Passive |
| Sep 12, 2024 | Cerberus Capital Management II, L.P. | SC 13D/A | 32.4% | Passive |
Insider trading
- Open-market buys, 12 mo
- $752K · 6
- Open-market sells, 12 mo
- $18M · 24
- Net
- −$17M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $5M | $23M | 774 | — |
| FY2024 | $5M | $15M | 328 | — |
| FY2023 | $4M | $2M | 74 | — |