Filing Flows › Energy Vault Holdings (NRGV) › Q1 2026
Energy Vault Holdings (NRGV) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 19, 2026
Energy Vault Holdings (NRGV) reported revenue of $21.9M for the first quarter 2026 (Q1 2026), +156% from a year earlier and -86% from the quarter before. Operating margin was -110.6%, net loss $32.5M (148.5% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.9M | -86% | +156% |
| Operating profit | −$24.2M | — | — |
| Net earnings | −$32.5M | — | — |
| Operating cash flow | −$53.8M | — | — |
What changed
Revenue was $21.9M in Q1 2026, up 156% year over year and down 86% from the previous quarter.
Gross margin was 21.9%, down 35.3 points from Q1 2025. Operating costs exceeded revenue by $24.2M, an operating margin of -110.6%. Operating expenses grew 12% against revenue growth of 156%. The fastest-growing cost line was Other operating costs (+665%). The quarter ended with a net loss of $32.5M, wider than the previous quarter's $20.7M loss.
Operating cash flow was −$53.8M. Non-cash charges added back $2.2M of depreciation and amortization and $7.1M of share-based compensation. Working capital and other items used $30.6M. Capital expenditures of $7.1M exceeded it, leaving free cash flow of −$60.9M.
Questions
What was Energy Vault Holdings' revenue in the first quarter 2026?
Energy Vault Holdings (NRGV) reported revenue of $21.9M for the first quarter 2026 (Q1 2026), +156% from a year earlier and -86% from the quarter before.
Was Energy Vault Holdings profitable in the first quarter 2026?
Operating loss was $24.2M (-110.6% of revenue) and net loss $32.5M.