secwatch.observer — SEC 8-K summary
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Issuer:     Energy Vault Holdings, Inc. (NRGV)
CIK:        0001828536
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001828536-24-000188
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Vault Q3 revenue light at ~$1.2M; backlog up 33% to $350M; net loss $26.6M
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- Revenue backlog grew 33% QoQ to $350M with new U.S. contracts from Jupiter Power and Gridmatic.
- Q3 GAAP gross margin 40.3% on $1.2M services revenue; gross profit $0.5M.
- GAAP net loss of $26.6M; adjusted EBITDA loss improved 5% QoQ to $(14.7)M.
- Cash and equivalents $77.7M, no debt; expects $60-80M from project financing in next two quarters.
- Affirming full-year 2024 guidance at mid-to-low end; retaining ~$100M in storage assets vs. selling.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828536/000182853624000188/0001828536-24-000188-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828536/000182853624000188/nrgv-20241112.htm
  HTML page:      https://secwatch.observer/filing/0001828536-24-000188

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