Earnings ·
Energy Vault raises full-year revenue guidance to $310M as contract backlog expands to $2B
NRGVEnergy Vault Holdings, Inc.
Energy Vault Holdings, Inc. reported second quarter 2026 financial results on August 11, 2026, announcing revenue of $17.4 million, a 104% year-over-year increase driven by battery energy storage systems projects in Australia. The company raised its full-year 2026 revenue guidance to $270-310 million and lifted GAAP gross margin guidance to the high end of the previous 20-25% range. Contract backlog expanded sequentially by $650 million to approximately $2 billion, with ~40% expected to convert to revenue within 12-18 months. The company executed a contract for 1.25 GW of integrated power infrastructure for an AI data center in Texas, expected to generate $500-600 million in near-term revenue. Cash and cash equivalents grew 26% quarter-over-quarter to $148 million.