secwatch.observer — SEC 8-K summary
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Issuer:     Energy Vault Holdings, Inc. (NRGV)
CIK:        0001828536
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001828536-24-000141
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Vault Q2 revenue $3.8M, net loss $26.2M; reaffirms FY guidance, announces Australia battery project
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- Q2 GAAP revenue $3.8M; gross margin 27.8% vs. prior year low revenue base; gross profit $1.0M.
- GAAP net loss $(26.2)M flat YoY; adjusted EBITDA improved 12% to $(15.8)M.
- Cash $113.0M, no debt; reaffirms FY 2024 guidance for revenue, gross margin, adjusted EBITDA and year-end cash.
- New 400MWh battery storage project in Australia with ACEN; commercial ops for 200MWh Texas system started.
- Cost savings measures (Q2 $1.7M charge) expected to deliver $6-8M annual savings; new Head of Global Sales hired.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828536/000182853624000141/0001828536-24-000141-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828536/000182853624000141/nrgv-20240806.htm
  HTML page:      https://secwatch.observer/filing/0001828536-24-000141

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