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Energy Vault Holdings NRGV Operation and maintenance services — Revenue

Other product segments

Sale of Energy Storage Products to Customers Under Bill-and-Hold Arrangements
$47.2M
Sale of energy storage products
$14.7M+90.6%
Software licensing
$187K+55.8%
Intellectual property (“IP”) licensing
$15K+7.1%

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Other financials

Income statement

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Revenue$17.4M+104%
Gross profit$5.4M+114%
Operating income-$24.7M+12.4%
Net income-$29.7M+15.0%
EPS (diluted)-$0.18+18.2%

Balance sheet

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Cash & equivalents$148.0M+155%
Total debt$244.9M+288%
Total equity$6.9M-92.4%
Total assets$370.5M+48.9%

Cash flow

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Operating cash flow-$30.6M-299%
CapEx$9.1M+8.8%
Free cash flow-$39.7M

Valuation

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Market cap$632.53M+185%
Enterprise value$729.44M+221%
P/S2.8×-1.5×

Profitability

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Gross margin22.5%+2.2pp
Operating margin-32.8%-15.2pp
Net margin-48.6%-22.0pp
FCF margin-64.1%

Returns & leverage

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Return on equity-225.9%-1,190pp
Debt / equity35.7×+35.0×
Current ratio1.2×+0.5×

Where this comes from

Reported directly by Energy Vault Holdings in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Energy Vault Holdings’s 10-Q, filed August 11, 2026.

Filed
Aug 11, 2026, 4:10 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001828536-26-000101
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Sale of energy storage products$14,696$7,711$34,406$12,602
Tolling and power purchase agreement (“PPA”) revenue (1)2,0263903,554390
Operation and maintenance services445277889553
Software licensing187120369232
Intellectual property (“IP”) licensing1514303,269
Total revenue$17,369$8,512$39,248$17,046

Item 1. Financial Statements

FAQ

What is Energy Vault Holdings's operation and maintenance services — revenue?
Energy Vault Holdings (NRGV) reported operation and maintenance services — revenue of $445K in Q2 2026.
How has Energy Vault Holdings's operation and maintenance services — revenue changed year-over-year?
Energy Vault Holdings's operation and maintenance services — revenue increased by 60.6% year-over-year, from $277K to $445K.
What does operation and maintenance services — revenue mean?
This metric represents the total revenue generated from providing ongoing operational support, monitoring, and maintenance services for energy storage systems. It reflects the company's ability to monetize long-term service contracts and ensure the reliability of installed grid-scale storage infrastructure. Growth in this segment indicates an expanding installed base and a shift toward recurring, high-margin service revenue streams.

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