Energy Vault Holdings, Inc. (NRGV) Earnings
Energy Vault Holdings, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $-0.14. NRGV has beaten EPS estimates in 2 of its last 9 reported quarters (average surprise -135.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.15 | $-0.20 | -33.3% | $22M | +5.6% |
| Mar 17, 2026 | $-0.05 | $-0.13 | -143.8% | $153M | +322.4% |
| Aug 7, 2025 | $-0.07 | $-0.22 | -214.3% | $9M | -82.6% |
| Mar 17, 2025 | $-0.14 | $-0.35 | -150.0% | $33M | -21.3% |
| Mar 12, 2024 | $-0.10 | $-0.15 | -50.0% | $118M | -22.0% |
| Mar 7, 2023 | $-0.08 | $-0.17 | -112.5% | $100M | +368.1% |
| Nov 14, 2022 | $-0.10 | $-0.21 | -110.0% | $2M | -78.4% |
| May 16, 2022 | $0.02 | $0.15 | +749.9% | $43M | +230.5% |
| Feb 10, 2022 | $-11.55 | $-0.50 | +95.7% | — | — |
| Aug 13, 2021 | — | $0.12 | — | — | — |
| May 24, 2021 | — | $-0.22 | — | — | — |
| Mar 26, 2021 | — | $-0.08 | — | — | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Transitioned to integrated storage IPP, providing more transparency. - Backlog over $1.3 billion, primarily own and operate revenue streams. - Delivered broad-based triple-digit growth in key metrics: revenue up over 150%, backlog more than doubled, adjusted gross profit up 25%, cash up 148%, megawatts under control up almost five times year-over-year. - Expanded global footprint, advanced U.S. portfolio, announced entry into Japan market, added smaller projects in Switzerland, scaled AI power infrastructure platform. - Total megawatts under control in construction or operation exceed one gigawatt.
Guidance
Reaffirming full year 2026 guidance: revenue in range of 225 to $300 million, approximately $75 to $100 million in internal asset vault project builds, gross margin 15 to 25%, year-end cash in range of $150 to $200 million.
Segment performance
Q1 revenue was $21.9 million, up 156% year-over-year. Adjusted gross profit was $6.1 million, up 25% year-over-year with an adjusted gross margin of 27.9%. Backlog grew to $1.35 billion, 108% year-over-year, with over 80% associated with own and operate portfolio. Megawatts under control in construction or operation exceed one gigawatt. Recurring EBITDA run rate is over $180 million.
Analyst Q&A
Q: Justin Clare with Roth Capital Partners asked about status of 100 megawatts of powered shell and powered land projects, including contraction, offtake, interconnection, and permitting.
A: 75 megawatt powered land in construction, committed to come online in January; 25 megawatt powered shell under development, starting to come online in Q4.
Q: Derek Soderberg with Kent or Fitzgerald asked about variables determining gross margin range and revenue trajectory.
A: Variables include battery cell pricing, project mix; revenue trajectory is back-end loaded with strong year-over-year compares.
Q: Brian Lee with Goldman Sachs asked about timeline to reach IPP margins and revenue trajectory.
A: IPP margins take time with mix effect; revenue trajectory is back-end loaded with strong year-over-year compares.
Q: Sid Runchie with Fundamental Research Corp. asked about performance of Calistoga and CrossTrails operations and Japan acquisition.
A: CrossTrails project performs well; Japan acquisition has robust portfolio with near-term projects expected to close.
Q: Noel Parks with Toohey Brothers asked about gas generation and project financing.
A: Gas generation important for power demand; project financing market evolving with mitigation of risk.