ESS Tech, Inc. (NYSE:GWH) Q4 2022 Earnings Call Transcript

Tony Rabb: Well, sort of yeah, they are. Obviously, as you recognize revenue over time, it doesn’t make sense to remain in R&D accounting, but they’re two different criteria to transition. So, they’re not linked together but our expectation from an R&D accounting transition is that we will be transitioning this year. And there’s more work for us to do to determine the appropriate timing, but we’re still expecting to transition this year.

Chris Kapsch: Right. And that’s what I was really good at. And then when that happens, would there be sort of a pro forma reset to as if this happened, let’s just say it happens in I don’t know the fall. Whether it be a pro forma reset as for the recast the entire calendar year on a post development accounting basis? Thank you.

Tony Rabb: Yeah, I think that’s a determination that we still need to work through in terms of what actually is reflected depending on the timing of when we transition. But at a minimum that will be out of perspective.

Operator: There are no further questions at this time. Mr. Dresselhuys, I pass the call back over to you.

Eric Dresselhuys: Thank you. And thank you all for joining us for the call. We couldn’t be more excited about the progress we’re making in the business. And we look forward to giving you further updates on our subsequent calls.

Operator: This concludes today’s conference call. You may now disconnect.