secwatch.observer — SEC 8-K summary
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Issuer:     Energy Vault Holdings, Inc. (NRGV)
CIK:        0001828536
Form:       8-K
Filed at:   2025-05-12T23:59:59+00:00
Accession:  0001828536-25-000060
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Vault Q1 revenue up 10% to $8.5M; backlog hits $648M
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- GAAP gross margin more than doubled to 57.1% from 26.7% YoY, driven by India license revenue.
- Net loss flat at $21.1M; Adjusted EBITDA loss improved 22% to $11.3M from $14.5M.
- Cash rose 57% QoQ to $47.2M, aided by Calistoga project financing.
- Contract backlog reached $648M, up 49% YTD; Cross Trails project generating revenue ahead of commercial ops.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828536/000182853625000060/0001828536-25-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828536/000182853625000060/nrgv-20250512.htm
  HTML page:      https://secwatch.observer/filing/0001828536-25-000060

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