Energy Vault prelim Q4 revenue $150-155M (~355% YoY); first positive Adj EBITDA

Energy Vault Holdings, Inc.

2025-FY EPS reported -$0.65 revenue$203,671,000

Q4 2025 revenue expected $150-155M, up ~355% YoY and ~5x sequentially from Q3.
Q4 GAAP gross margin 18-22%, Adj EBITDA $5-10M (vs -$13.4M in Q4 2024).
FY 2025 revenue $200-205M, up ~335% YoY; GAAP gross margin 22-25%.
Year-end cash $103.4M, 3x+ YoY increase and up 67% from Q3 2025.
Results are preliminary; full Q4/FY earnings call scheduled March 17, 2026.

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