Filing Flows › Energy Vault Holdings (NRGV) › Q2 2025
Energy Vault Holdings (NRGV) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Energy Vault Holdings (NRGV) reported revenue of $8.5M for the second quarter 2025 (Q2 2025), +126% from a year earlier and -0.3% from the quarter before. Operating margin was -330.7%, net loss $34.9M (410.4% of revenue).
Energy Vault Holdings, Q2 2025: revenue $8.5M (+126% year over year), operating margin -330.7%, net loss $34.9M, operating cash flow $15.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.5M | -0.3% | +126% |
| Operating profit | −$28.1M | — | — |
| Net earnings | −$34.9M | — | — |
| Operating cash flow | $15.4M | — | — |
| Free cash flow | $6.9M | — | — |
What changed
Revenue was $8.5M in Q2 2025, up 126% year over year and roughly flat from the previous quarter.
Gross margin was 29.6%, up 1.7 points from a year earlier. Operating costs exceeded revenue by $28.1M, an operating margin of -330.7%. Operating expenses grew 6% against revenue growth of 126%. The fastest-growing cost line was Other operating costs (+236%). The quarter ended with a net loss of $34.9M, wider than the previous quarter's $21.2M loss.
Operating cash flow was $15.4M. Non-cash charges added back $473K of depreciation and amortization and $9.0M of share-based compensation. Working capital and other items added $40.8M. Capital expenditures of $8.4M left free cash flow of $6.9M.
Questions
What was Energy Vault Holdings' revenue in the second quarter 2025?
Energy Vault Holdings (NRGV) reported revenue of $8.5M for the second quarter 2025 (Q2 2025), +126% from a year earlier and -0.3% from the quarter before.
Was Energy Vault Holdings profitable in the second quarter 2025?
Operating loss was $28.1M (-330.7% of revenue) and net loss $34.9M.