Filing Flows › Technology › Energy Vault Holdings (NRGV)
Energy Vault Holdings (NRGV) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · Energy Vault Holdings (NRGV) Q2 2026 earnings results →
Q2 2026 Revenue up 104% year over year to $17.4M · 171¢ of every $1 of revenue lost · operating margin -142.0%
Energy Vault Holdings made $17.4M in Q2 2026 (+104% Y/Y). Operating margin -142.0%, net loss $29.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $17.4M in Q2 2026, up 104% year over year and down 21% from the previous quarter.
Gross margin was 31.0%, up 1.4 points from Q2 2025. Operating costs exceeded revenue by $24.7M, an operating margin of -142.0%. Operating expenses fell 2% while revenue rose 104%. The fastest-growing cost line was General & admin (+19%). The quarter ended with a net loss of $29.7M, narrower than the previous quarter's $32.5M loss.
Operating cash flow was −$30.6M. Non-cash charges added back $1.9M of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items used $7.2M. Capital expenditures of $9.1M exceeded it, leaving free cash flow of −$39.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 11, 2026 | $17.4M | +104% | -142.0% | −$29.7M | −$30.6M |
| Q1 2026 | 10-Q | May 19, 2026 | $21.9M | +156% | -110.6% | −$32.5M | −$53.8M |
| Q4 2025 | 10-K | Mar 18, 2026 | $153M | +358% | -5.1% | −$20.7M | −$6.6M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $33.3M | 28× | -52.8% | −$26.8M | −$11.7M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $8.5M | +126% | -330.7% | −$34.9M | $15.4M |
| Q1 2025 | 10-Q | May 13, 2025 | $8.5M | +10% | -244.8% | −$21.2M | −$2.7M |
| Q4 2024 | 10-K | Apr 1, 2025 | $33.5M | -72% | -150.6% | −$61.9M | −$34.8M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Energy Vault Holdings
Energy Vault Holdings, Inc. (together with its subsidiaries, “Energy Vault” or the “Company”) is a Delaware corporation. On February 11, 2022, we completed a business combination with Energy Vault, Inc. (the “Merger”) and, in connection with the closing, changed our name from Novus Capital Corporation II to Energy Vault Holdings, Inc. Energy Vault delivers a diversified portfolio of energy storage solutions to third parties, including proprietary gravity, battery, and green hydrogen-based technologies, supported by our technology-agnostic energy management software and integration capabilities.
In its own words, from its 10-K, filed Mar 18, 2026.
Energy Vault Holdings against its Miscellaneous Electrical Machinery, Equipment & Supplies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +104% against the peers' median +8%. Operating margin: -142.0% against the peers' median 2.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NRGV Energy Vault Holdings | Q2 2026 | $17.4M | +104% | -142.0% |
| ENS EnerSys | Q1 FY27 | $936M | +5% | 16.2% |
| ATKR Atkore | Q3 FY26 | $795M | +8% | 8.1% |
| SPB Spectrum Brands Holdings | Q3 FY26 | $753M | +8% | 2.1% |
| ENR Energizer Holdings | Q3 FY26 | $734M | +1% | 6.8% |
| FLNC Fluence Energy | Q3 FY26 | $650M | +8% | -6.7% |
| NOVT Novanta | Q2 2026 | $266M | +10% | 6.8% |
| CHPT ChargePoint Holdings | Q2 FY27 | $116M | +18% | -29.3% |
| MVST Microvast Holdings | Q2 2026 | $87.3M | -4% | -2.0% |
Source: Energy Vault Holdings 10-Q on SEC EDGAR · CIK 1828536 · Miscellaneous Electrical Machinery, Equipment & Supplies
13F: who owns NRGV and who is buying
More on NRGV
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results