secwatch.observer — SEC 8-K summary
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Issuer:     Energy Vault Holdings, Inc. (NRGV)
CIK:        0001828536
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001828536-23-000134
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Vault Q2 revenue $39.7M, net loss $26.2M; reaffirms 2023 guidance
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- Revenue of $39.7M (247% sequential growth); GAAP gross margin 9.9% ($3.9M).
- Net loss of $26.2M; adjusted EBITDA of ($18.0M); cash $165M with zero debt.
- Reaffirmed FY2023 guidance: revenue $325M–$425M, gross margin 10%–15%, adjusted EBITDA ($50M)–($70M).
- First US Gravity storage license & royalty agreement signed for $33M with 90%+ gross margin royalty streams.
- Commissioning of first 100 MWh EVx gravity system in Rudong, China begun; full grid interconnection expected Q4 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828536/000182853623000134/0001828536-23-000134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828536/000182853623000134/nrgv-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001828536-23-000134

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer