Filing Flows › Energy Vault Holdings (NRGV) › Q1 2026 › vs Q4 2025
Energy Vault Holdings (NRGV) Q1 2026 vs Q4 2025 (quarter over quarter)
Energy Vault Holdings's revenue fell $131M (-86%) from $153M in Q4 2025 to $21.9M in Q1 2026.
Energy Vault Holdings, Q1 2026: revenue $21.9M (+156% year over year), operating margin -110.6%, net loss $32.5M, operating cash flow −$53.8M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $21.9M | $153M | −$131M | -86% |
| Net loss | $32.5M | $20.7M | $11.8M | +57% |
| Costs & expenses | $54.4M | $174M | −$120M | -69% |
| Operating costs | $46.1M | $161M | −$115M | -71% |
| Interest & other, net | $8.3M | $13.2M | −$4.9M | -37% |
| Income tax | $1K | −$228K | $229K | — |
| Cost of revenue | $17.1M | $122M | −$105M | -86% |
| Research & development | $2.6M | $3.4M | −$785K | -23% |
| Sales & marketing | $2.9M | $3.2M | −$272K | -9% |
| General & admin | $21.2M | $24.8M | −$3.5M | -14% |
| Other operating costs | $2.2M | $8.0M | −$5.8M | -72% |
| Operating cash sources | $63.1M | $17.2M | $45.8M | +266% |
| Depreciation & amortization | $2.2M | $2.4M | −$136K | -6% |
| Share-based compensation | $7.1M | $8.3M | −$1.2M | -15% |
| Cash used in operations | $53.8M | $6.6M | $47.2M | +719% |
| Net loss absorbed | $32.5M | $20.7M | $11.8M | +57% |
| Working capital & other | $30.6M | −$3.5M | $34.1M | — |
Questions
How much did Energy Vault Holdings's revenue grow quarter over quarter in Q1 2026?
Energy Vault Holdings's revenue fell $131M (-86%) from $153M in Q4 2025 to $21.9M in Q1 2026.