Filing Flows › Energy Vault Holdings (NRGV) › Q1 2025
Energy Vault Holdings (NRGV) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
Energy Vault Holdings (NRGV) reported revenue of $8.5M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -75% from the quarter before. Operating margin was -244.8%, net loss $21.2M (248.1% of revenue).
Energy Vault Holdings, Q1 2025: revenue $8.5M (+10% year over year), operating margin -244.8%, net loss $21.2M, operating cash flow −$2.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.5M | -75% | +10% |
| Operating profit | −$20.9M | — | — |
| Net earnings | −$21.2M | — | — |
| Operating cash flow | −$2.7M | — | — |
What changed
Revenue was $8.5M in Q1 2025, up 10% year over year and down 75% from the previous quarter. Sale of energy storage products was the largest line at 57% of revenue. Sale of energy storage products declined 37%.
Gross margin was 57.1%, up 30.5 points from a year earlier. Operating costs exceeded revenue by $20.9M, an operating margin of -244.8%. Operating expenses fell 3% while revenue rose 10%. The fastest-growing cost line was Other operating costs (+43%). The quarter ended with a net loss of $21.2M, narrower than the previous quarter's $61.9M loss. Minority interests bore $38K of it: to shareholders the quarter was a loss of $21.1M.
Operating cash flow was −$2.7M. Non-cash charges added back $305K of depreciation and amortization and $9.3M of share-based compensation. Working capital and other items added $8.9M. Capital expenditures of $6.8M exceeded it, leaving free cash flow of −$9.5M.
Questions
What was Energy Vault Holdings' revenue in the first quarter 2025?
Energy Vault Holdings (NRGV) reported revenue of $8.5M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -75% from the quarter before.
Was Energy Vault Holdings profitable in the first quarter 2025?
Operating loss was $20.9M (-244.8% of revenue) and net loss $21.2M.