Energy Vault Q4 rev $33.5M, backlog $660M; 2025 guidance $200-300M

Energy Vault Holdings, Inc.

Revenue backlog $660M, up 90% QoQ and quadruple YoY; 2025 rev guidance $200-300M (4-6x increase vs 2024).
Q4 2024 revenue $33.5M; GAAP net loss $(61.8)M; full-year rev $46.2M, net loss $(135.8)M.
Adjusted EBITDA loss improved to $(13.4)M (Q4) and $(57.9)M (full year), within guidance range.
Cash $30.1M, no debt; cash used in investing $(58.7)M for owned projects.
Own & operate portfolio: 6 projects (840MW) expected to generate ~$2B long-term revenue.

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