---
schema_version: "secwatch.filing_event.v1"
accession: "0001828536-24-000097"
form_type: "8-K"
ticker: "NRGV"
cik: "0001828536"
company_name: "Energy Vault Holdings, Inc."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T12:48:42.497585+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Energy Vault Q1 revenue $7.8M, net loss improves to $(21.1)M; cash $136.8M, no debt

## Summary
- Revenue $7.8M from utility/IPP projects; GAAP gross margin 26.7% ($2.1M gross profit).
- Net loss $(21.1)M improved $10M YoY; Adjusted EBITDA $(14.4)M improved 24% YoY.
- Cash opex $16.7M, down 22% YoY and 14% QoQ; cash $136.8M with no debt.
- Completed 440 MWh BESS with NV Energy; GESS in Rudong China progressed.
- 2024-25 financial guidance to be provided at May 9 Investor & Analyst Day.

## SEC filing metadata
- accession: 0001828536-24-000097
- form_type: 8-K
- ticker: NRGV
- cik: 0001828536
- company_name: Energy Vault Holdings, Inc.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828536/000182853624000097/0001828536-24-000097-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828536/000182853624000097/nrgv-20240508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001828536-24-000097
- JSON: https://secwatch.observer/filing/0001828536-24-000097.json
- Plain text: https://secwatch.observer/filing/0001828536-24-000097.txt

## Key facts
- Earnings Releases
  Energy Vault Holdings, Inc. reported first quarter ended March 31, 2024 results: revenue $7.8 million, net income $(21.1) million. Guidance initiated.
  - Period: first quarter ended March 31, 2024
  - Revenue: $7.8 million
  - Net income: $(21.1) million
  - Guidance: initiated
  - Result: reported results
  source text: Energy Vault Reports First Quarter 2024 Financial Results Revenue of $7.8 million from recognition of Utility and IPP storage projects, in-line with expectations; Licensing revenue from GESSOL in Southern Africa is expected later in 2024 GAAP Gross margin of 26.7% driven by strong management and execution on US battery projects Cash OpEx of $16.7 million, improved 22% year-over-year and 14% quarter-over-quarter Quarter-end Cash and Cash Equivalents of $136.8 million , within Q1 guidance range of $125 – 150 million WESTLAKE VILLAGE, Calif., May 8th, 2024 – Energy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault” or “the Company”), a leader in sustainable, grid-scale energy storage solutions, announced financial results for the first quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828536/000182853624000097/0001828536-24-000097-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.