secwatch.observer — SEC 8-K summary
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Issuer:     Energy Vault Holdings, Inc. (NRGV)
CIK:        0001828536
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001828536-24-000097
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828536/000182853624000097/0001828536-24-000097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828536/000182853624000097/nrgv-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001828536-24-000097

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