What does tolling revenue — tolling and PPA revenue mean?

This metric represents revenue generated from energy storage service agreements, including tolling arrangements and Power Purchase Agreements (PPAs). It reflects the income earned by providing grid-scale storage capacity and dispatch services to utility customers or grid operators. This revenue stream is critical for assessing the company's ability to monetize its energy storage technology through long-term, predictable contractual commitments.

Energy Vault Holdings NRGV Tolling revenue — Tolling and PPA revenue

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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 nrgv:TollingRevenueAndPowerPurchaseAgreements.

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 tolling revenue — tolling and PPA revenue?: Energy Vault Holdings (NRGV) reported tolling revenue — tolling and PPA revenue of $600K in Q1 2026.
What does tolling revenue — tolling and PPA revenue mean?: This metric represents revenue generated from energy storage service agreements, including tolling arrangements and Power Purchase Agreements (PPAs). It reflects the income earned by providing grid-scale storage capacity and dispatch services to utility customers or grid operators. This revenue stream is critical for assessing the company's ability to monetize its energy storage technology through long-term, predictable contractual commitments.