Energy Vault Q3 2022: revenue $1.7M, net loss $28.8M; guidance reaffirmed

Energy Vault Holdings, Inc.

2022-Q3 EPS reported -$0.46 revenue$45,555,000

Q3 revenue $1.7M, nine-month $45.6M; GAAP net loss $28.8M; adjusted EBITDA -$17.2M.
Cash $274.7M at Sep 30; FY22 guidance: revenue $75-100M, adj. EBITDA -$10M to $3M, cash $260-280M.
Signed contracts & awards total ~4.8 GWh (~$2B potential); 495 MWh booked for ~$210M.
Appointed Jan Kees van Gaalen as CFO effective Nov 16, replacing interim CFO David Hitchcock.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Energy Vault Holdings, Inc. reported the quarter ended September 30, 2022 results: revenue $1.7 million, net income $(28.8) million. Guidance reaffirmed.

Period: the quarter ended September 30, 2022
Revenue: $1.7 million
Net income: $(28.8) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Third quarter 2022 revenue of $1.7 million, driven by revenue from the energy storage projects with Jupiter Power in Texas and California. • Revenue for the first nine months ending September 30, 2022, totaled $45.6 million, driven mainly by the gravity energy storage licensing revenue with Atlas Renewable. • Third quarter GAAP loss from operations of $(36.2) million, and GAPP net loss of $(28.8) million.

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Energy Vault Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001828536-22-000059

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