Filing Flows › Energy Vault Holdings (NRGV) › Q4 2024
Energy Vault Holdings (NRGV) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Apr 1, 2025
Energy Vault Holdings (NRGV) reported revenue of $33.5M for the fourth quarter 2024 (Q4 2024), -72% from a year earlier and up 28-fold from the quarter before. Operating margin was -150.6%, net loss $61.9M (184.8% of revenue).
Energy Vault Holdings, Q4 2024: revenue $33.5M (-72% year over year), operating margin -150.6%, net loss $61.9M, operating cash flow −$34.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $33.5M | 28× | -72% |
| Operating profit | −$50.4M | — | — |
| Net earnings | −$61.9M | — | — |
| Operating cash flow | −$34.8M | — | — |
What changed
Revenue was $33.5M in Q4 2024, down 72% year over year and up 2692% from the previous quarter. Sale of energy storage products was the largest line at 99% of revenue.
Gross margin was 7.7%, up 4.3 points from a year earlier. Operating costs exceeded revenue by $50.4M, an operating margin of -150.6%. Operating expenses grew 88% against a revenue fall of 72%. The fastest-growing cost line was Other operating costs (+7349%). The quarter ended with a net loss of $61.9M, wider than the previous quarter's $26.6M loss.
Operating cash flow was −$34.8M. Non-cash charges added back $233K of depreciation and amortization and $9.3M of share-based compensation. Working capital and other items added $17.5M. Capital expenditures of $10.5M exceeded it, leaving free cash flow of −$45.4M.
Questions
What was Energy Vault Holdings' revenue in the fourth quarter 2024?
Energy Vault Holdings (NRGV) reported revenue of $33.5M for the fourth quarter 2024 (Q4 2024), -72% from a year earlier and up 28-fold from the quarter before.
Was Energy Vault Holdings profitable in the fourth quarter 2024?
Operating loss was $50.4M (-150.6% of revenue) and net loss $61.9M.