Business
Energy Vault Reports First Quarter 2026 Financial Results and Reaffirms 2026 Guidance
WESTLAKE VILLAGE, Calif., May 05, 2026--Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or "the Company"), a global leader in sustainable, grid-scale energy storage and AI compute infrastructure solutions, today announced financial results for the quarter ended March 31, 2026.
About this update from Energy Vault Holdings, Inc.
[{"type":"text","content":"Q1 2026 global MW under management surged from 440 MW to 1.1 GW, up over 500% year-over-year and 140% sequentially","length":114,"tagName":"p","attribs":{}},{"type":"text","content":"Year to Date 2026 backlog reached $1.35 billion, up 108% year-over-year, of which 80%+ is recurring, high-margin IPP revenue","length":124,"tagName":"p","attribs":{}},{"type":"text","content":"Q1 2026 Revenue of $21.9 million, up 156% year-over-year","length":56,"tagName":"p","attribs":{}},{"type":"text","content":"Q1 2026 GAAP Gross Profit of $4.8 million and Adjusted Gross Profit of $6.1 million (up 25% year-over-year)","length":107,"tagName":"p","attribs":{}},{"type":"text","content":"Achieved fifth consecutive quarterly increase in balance sheet Cash to $117 million","length":83,"tagName":"p","attribs":{}},{"type":"text","content":"Added 100 MW of Powered Land and Powered Shell projects for AI data center infrastructure, expected to yield over $65 million in annual, recurring EBITDA within the next 12-18 months","length":182,"tagName":"p","attribs":{}},{"type":"text","content":"Announced Japan market entry with acquisition of 850 MW BESS IPP project portfolio of which 350 MW are advanced-stage projects expected to close in Q2 2026","length":155,"tagName":"p","attribs":{}},{"type":"text","content":""Own & Operate" portfolio now exceeding 1 GW, expected to generate over $180 million in annual, recurring run rate EBITDA, ahead of previous guidance","length":163,"tagName":"p","attribs":{}},{"type":"text","content":"Reaffirming Full Year 2026 guidance with strong, double-digit growth across Revenue, Profitability and Cash Flow metrics at the midpoint","length":136,"tagName":"p","attribs":{}},{"type":"text","content":"WESTLAKE VILLAGE, Calif., May 05, 2026--(BUSINESS WIRE)--Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or "the Company"), a global leader in sustainable, grid-scale energy storage and AI compute infrastructure solutions, today announced financial results for the quarter ended March 31, 2026.","length":323,"tagName":"p"},{"type":"text","content":""Our first quarter 2026 results reflect a resounding validation of our shift to an energy infrastructure platform provider, more than doubling our MW capacity under management from last quarter to over 1 GW," said Robert Piconi, Chairman of t...