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Energy Vault's performance exceeds expectations, with the stock soaring 11% after hours
Westlake Village, California - Energy Vault Holdings (NYSE:NRGV) stock surged 11% in after-hours trading after the energy storage company announced Q4 earnings and 2026 guidance that exceeded Wall Street expectations, turning adjusted profits positive and significantly expanding project backlog.
The company’s Q4 adjusted earnings per share were $0.02, surpassing analysts’ expectations of $0.00, with revenue of $153.3 million, above the consensus of $137.73 million.
Revenue soared 358% year-over-year, from $33.5 million in the same period last year to the current level, mainly driven by the execution of projects in Australia and the US, as well as initial contributions from the Asset Vault project. Full-year revenue for 2025 reached $203.7 million, up 341% from $46.2 million in 2024.
Energy Vault’s Q4 adjusted EBITDA turned positive, reaching $9.8 million, compared to a loss of $13.4 million in the same period last year. The company also achieved an adjusted net profit of $3.7 million, compared to a loss of $25.0 million last year. The GAAP gross margin for this quarter improved from 7.8% last year to 20.6%.
Chairman and CEO Robert Piconi stated, “2025 marks a pivotal year for our team to focus on executing our strategy and serving customers, and it was one of the most turbulent and challenging years the company has faced at the start.”
For fiscal 2026, Energy Vault expects revenue of $225-300 million, with a midpoint of $262.5 million, exceeding the analyst consensus of $246.7 million, representing approximately 30% year-over-year growth. The company projects gross margins of 15-25% and year-end cash of $150-200 million.
As of December 31, 2025, the company’s contracted revenue backlog reached a record $1.3 billion, up 42% quarter-over-quarter and over 300% year-over-year. Over the past 12 months, the total megawatts under signed, operational, and under construction increased from 65 MW to 540 MW.
This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.