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Energy Vault Holdings NRGV Q4 2025 Annual earnings

Reported March 17, 2026 · Before market open

Revenue$153.3MBeat by $4.9M
EPS-$0.13Miss by $0.08
Revenue estimate$148.4M
EPS estimate-$0.05

Next report

Aug 11, 2026 (In 1 week)
Revenue estimate$14.2M
EPS estimate-$0.14

Financials

Q4 2025

Income statement

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Revenue$153.3M+358%
Gross profit$31.6M+1,121%
Operating income-$7.7M+84.6%
Net income-$20.7M+66.5%
EPS (diluted)-$0.13+68.3%

Balance sheet

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Cash & equivalents$103.4M+244%
Total debt$96.7M+6,986%
Total equity$67.5M-46.6%
Total assets$312.9M+70.1%

Cash flow

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Operating cash flow-$6.6M+81.1%
CapEx$10.4M-1.0%
Free cash flow-$17.0M+62.5%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$773.51M+123%
Enterprise value$766.79M+141%
P/S3.8×-3.7×

Profitability

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Gross margin23.6%+10.2pp
Operating margin-36.5%-17.0pp
Net margin-50.9%-23.0pp

Returns & leverage

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Return on equity-107%+65.3pp
Debt / equity1.4×+1.4×
Current ratio0.7×-0.5×

Segments

By product

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Sale of energy storage products$151.8M+359%
Sale of Energy Storage Products to Customers Under Bill-and-Hold Arrangements$11.8M—
Operation and maintenance services$429.0K+57.7%
Software licensing$172.0K+70.3%
Intellectual property (“IP”) licensing$29.0K—

By segment

See full
Reportable Segment$153.3M+358%

Versus estimates

Revenue

Q1 2026$21.9MBeat by $1.2M
Q4 2025$153.3MBeat by $4.9M
Q3 2025$33.3MMiss by $107.5MQ2 2025$8.5MMiss by $40.5MQ1 2025$8.5MMiss by $16.5MQ4 2024$33.5MMiss by $9.0M

Diluted EPS

Q1 2026-$0.20Miss by $0.05
Q4 2025-$0.13Miss by $0.08
Q3 2025-$0.16Miss by $0.06Q2 2025-$0.22Miss by $0.15Q1 2025-$0.08Beat by $0.05Q4 2024-$0.35Miss by $0.21

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Questions, answered.

When did Energy Vault Holdings report Q4 2025 earnings?
Energy Vault Holdings (NRGV) reported Q4 2025 earnings on March 17, 2026 before market open.
What were Energy Vault Holdings's Q4 2025 revenue and EPS?
Energy Vault Holdings reported revenue of $153.3M and eps of $-0.13 for Q4 2025.
Did Energy Vault Holdings beat estimates in Q4 2025?
Revenue beat the consensus estimate of $148.4M by $4.9M. EPS missed the consensus estimate of $-0.05 by $0.08.
How did Energy Vault Holdings's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 358.0% from $33.5M a year earlier and eps grew 62.9% from $-0.35.
Where can I find Energy Vault Holdings's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001828536-26-000019) and the 10-K periodic report (0001828536-26-000022) directly on SEC EDGAR. The filing index links above go to sec.gov.