secwatch.observer — SEC 8-K summary
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Issuer:     Energy Vault Holdings, Inc. (NRGV)
CIK:        0001828536
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001828536-24-000033
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Vault FY2023 revenue $341.5M (+134% YoY); net loss $98.4M; cash $145.6M
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- Q4 revenue $118.2M; GAAP gross margin 3.4% (lower than expected due to timing shift of revenue/profit to 2024).
- FY2023 GAAP net loss $98.4M; Adjusted EBITDA loss $62.1M; Q4 net loss $22.2M.
- Cash $145.6M, no debt; Q1 2024 cash expected $125-150M; cash OpEx reduced 25-30%.
- Gravity pipeline 3.7 GWh; signed $20M 10-year license for SADC region; new development agreement with WA utility.
- Battery storage commissioned ~1 GWh (Stanton 275 MWh, NV Energy 440 MWh); green hydrogen project with PG&E on track for mid-2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828536/000182853624000033/0001828536-24-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828536/000182853624000033/nrgv-20240312.htm
  HTML page:      https://secwatch.observer/filing/0001828536-24-000033

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