Energy Vault Holdings (NRGV) Misses Q1 EPS by 2c
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Energy Vault Reports First Quarter 2025 Financial Results
May 12, 2025 4:05 PM EDTContract revenue backlog of $648 million, up 49% year-to-date on Australia and U.S. strength
Q1 2025 Revenue increased by 10% versus prior year to $8.5 million driven by Australia projects and India license
Q1 2025 GAAP gross margin more than doubled to 57.1% versus prior year on favorable regional and revenue mix
Quarter-end Cash improved 57% versus year-end 2024 to $47.2 million as the Calistoga project financing was completed; additional ~$45 million from the Cross Trails project financing and sale of ITCs expected in Q2 and Q3
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