# ESS Tech, Inc. (GWHT) · Edgar & Edgarette company card

> ESS Tech (GWHT) saw revenue fall 74.9% in FY2025 to $2 million, operating margin -3626% against a -7.6% median for miscellaneous electrical machinery, equipment & supplies, equity 16.8% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1819438 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/GWHT) · [JSON](https://www.pops4.com/boards/company/GWHT.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $2M |
| Revenue growth, 1 year | -74.9% |
| Revenue growth per year | — |
| Operating margin | -3626.5% (prior year -1426.5%) |
| Net margin | -4007.6% |
| Operating cash flow | −$50M |
| Capital spending | $3M |
| Free cash flow | −$54M |
| Cash | $14M |
| Long-term debt | — |
| Total assets | $51M |
| Total equity | $9M |
| Equity ÷ assets | 16.8% |
| Return on equity | -736.1% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -61.09 (distress zone)
- Piotroski F: 2 of 9 (weak)
- Health Harbor boat: Old boat · three warning signs · operating cash flow was negative; operating loss: a margin of -3626.5% in FY2025; revenue is hard to predict: its 80% range is ±75%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $1.6M (FY2025). Experience: revenue down 74.9% on the year; operating margin -3626.5%, down from -1426.5%. Soundness: equity 16.8% of assets, return on equity -736.1%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $433K and $3.0M next year (method v4.1: its own 2-year record of growth weighed at 25% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $379K to $3.5M. A statistical range, not company guidance. Against peers (15 filers, $50M+ revenue, miscellaneous electrical machinery, equipment & supplies): operating margin -3626.5% against a -7.6% median; growth -74.9% against 6.9%.

Range logged 2026-09-25, receipt 6edd0985084b12c5, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 3.01 Exchange listing notice or transfer: 4, latest 2026-10-05 ([filing](https://www.sec.gov/Archives/edgar/data/1819438/000181943826000088/0001819438-26-000088-index.htm))
- Item 5.02 Director or officer change: 5, latest 2026-09-03 ([filing](https://www.sec.gov/Archives/edgar/data/1819438/000181943826000080/0001819438-26-000080-index.htm))

## Recent filings

- 8-K · filed 2026-10-05 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1819438/000181943826000088/0001819438-26-000088-index.htm)
- 8-K · filed 2026-09-30 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule · [filing](https://www.sec.gov/Archives/edgar/data/1819438/000181943826000086/0001819438-26-000086-index.htm)
- DEF 14A · filed 2026-09-24 · [filing](https://www.sec.gov/Archives/edgar/data/1819438/000181943826000084/0001819438-26-000084-index.htm)
- 8-K · filed 2026-09-03 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1819438/000181943826000080/0001819438-26-000080-index.htm)
- 8-K · filed 2026-08-21 · 1.01 Entry into a Material Definitive Agreement; 3.02 Unregistered Sales of Equity Securities; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1819438/000181943826000077/0001819438-26-000077-index.htm)
- 10-Q · filed 2026-08-11 · [filing](https://www.sec.gov/Archives/edgar/data/1819438/000181943826000074/0001819438-26-000074-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001819438.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1819438

## Cite

POPS4, Edgar & Edgarette: ESS Tech, Inc. (GWHT) company card, from the company's own SEC filings, accessed 2026-11-09, https://www.pops4.com/boards/company/GWHT. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.