During the weekend, I tried to warn you about data centers: some'll be delayed, some cancelled. It's not physical or politically feasible to make them function. 25 $EOSE lines running nonstop wouldn't be enough. Market front runs profits AND problems. Be careful out there.

I will be purchasing Jan 2026 $0.50 calls if/when we dip.

$Eose spaces curse broken??? @OBGInvestments @AlPutino

Q3 2025 Review: 1.Guidance: It’s quite significant that they continue to maintain the lower end of the guidance range. So far, they’ve achieved $56.2 million in revenue (my own Q3 estimate was $42.5 million), and they’re targeting $94+ million for the final quarter. It’s important that this target appears well planned and validated. John confirmed that the operations team has detailed plans in place and that they’ve already tested the feasibility within the given timeframe. Welcome aboard, John — great start! Let’s round this up to $100 million for Q4 — this serves as a useful benchmark: Next year, with Line 1 running at 90% efficiency, revenue potential rises to $400 million. By the second half of 2026, Line 2 will join the race, and expecting another $200 million from that line wouldn’t be unrealistic. 2.Line 2: Initially, the design was positioned within Turtle Creek, sharing a common sub-assembly structure. It seems John has introduced a notable enhancement here — the entire design is now optimized for sub-10-second cycle time and positioned at the new facility, still on track for completion in H1 2026. He also appears to have contributed on the supplier side: the line-build cycle has now been reduced to 90 days (previously six months). The system has been structured to allow high flexibility and scalable expansion based on orders. So, the questions I previously raised with Investor Relations have effectively been answered. 3.Pipeline / Orders: Impressively, the pipeline has reached 91 GWh, equivalent to $22.6 billion in potential projects — meaning that, when compared to Project AMAZE (8 GWh), this represents roughly 11 years’ worth of orders. From a valuation perspective, my previous models were primarily based on capacity, but now the order book has become the main driver — the visibility on confirmed demand is what truly defines valuation going forward. 4.Factory 2: Thanks to the newly gained flexibility and scalability, this can now be executed in parallel. That makes a 2027 completion for Project AMAZE entirely realistic. 5.Profitability (CM + / GM +): They expect positive Contribution Margin (CM +) in Q4, and positive Gross Margin (GM +) in Q1 2026. After that, EBITDA + follows — meaning 2026 is clearly shaping up to be the breakout year.

Quick math would suggest if they keep improving COGS as they have based on the numbers you provided, then $eose will have positive gross margins when they achieve a quarterly revenue of $119mm. Which we are on track for, for Q1 2026.

You’re welcome :) If we put $250 as an example and a cube has 800Kwh capacity, we’re looking at $200,000 pr. Cube. Most people I’ve seen believe that $eose have sold around 175 cubes this quarter, so that would be revenue of ~$35m. That is my expection for the quarter. Below that I’m prone to be disappointed. Above that I’ll be very happy :)