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Energy Vault Holdings NRGV Tolling revenue — Tolling and PPA revenue

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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 nrgv:TollingRevenueAndPowerPurchaseAgreements.

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

(1) Revenue from the arrangement accounted for as an operating lease was $1.1 million and $1.6 million for the three and six months ended June 30, 2026, respectively, and was $0.4 million for each of the three and six months ended June 30, 2025.

Item 1. Financial Statements

FAQ

What is Energy Vault Holdings's tolling revenue — tolling and PPA revenue?
Energy Vault Holdings (NRGV) reported tolling revenue — tolling and PPA revenue of $1.1M in Q2 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.

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