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Energy Vault Holdings NRGV Software licensing — Revenue

Other product segments

Sale of Energy Storage Products to Customers Under Bill-and-Hold Arrangements
$47.2M
Sale of energy storage products
$19.71M+303%
Operation and maintenance services
$444K+60.9%
Intellectual property (“IP”) licensing
$15K-99.5%

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SVCOSoftware license revenue — Total Revenue
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$7M+48.9%

Other financials

Income statement

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Revenue$21.9M+156%
Gross profit$4.8M-1.8%
Operating income-$24.2M-15.8%
Net income-$32.5M-53.7%
EPS (diluted)-$0.20-42.9%

Balance sheet

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Cash & equivalents$117.1M+148%
Total debt$211.4M+643%
Total equity$30.5M-73.5%
Total assets$298.0M+37.1%

Cash flow

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Operating cash flow-$53.8M-1,871%
CapEx$7.1M+4.1%
Free cash flow-$60.9M-540%

Valuation

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Market cap$759.33M+502%
Enterprise value$853.62M+695%
P/S3.5×+0.8×

Profitability

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Gross margin22.1%+2.9pp
Operating margin-35.8%-16.6pp
Net margin-53%-23.8pp
FCF margin-247.8%

Returns & leverage

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Return on equity-158.2%+1,524pp
Debt / equity6.9×+6.7×
Current ratio1.4×+0.6×

Where this comes from

Reported directly by Energy Vault Holdings in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Energy Vault Holdings’s 10-Q, filed May 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Energy Vault Holdings's software licensing — revenue?
Energy Vault Holdings (NRGV) reported software licensing — revenue of $182K in Q1 2026.
How has Energy Vault Holdings's software licensing — revenue changed year-over-year?
Energy Vault Holdings's software licensing — revenue increased by 62.5% year-over-year, from $112K to $182K.
What does software licensing — revenue mean?
This metric represents the total revenue generated from the licensing of proprietary energy management and storage optimization software to third-party customers. It reflects the company's ability to monetize its intellectual property and digital solutions independent of physical infrastructure deployment. Growth in this segment indicates successful adoption of the company's software-as-a-service or licensing model within the broader energy storage ecosystem.