Energy Vault Q2 revenue $17.4M (+104% YoY), raises FY26 guidance to $270-310M

Energy Vault Holdings, Inc.

Q2 revenue $17.4M vs $8.5M prior year; GAAP net loss $29.7M ($0.17 EPS), improved from $34.9M loss.
Backlog ~$2B, up 107% YoY; ~60% from owned assets with recurring EBITDA, ~40% near-term conversion.
Raised FY2026 revenue guidance to $270-310M (from $225-300M) and GAAP gross margin to 20-25%.
Signed 1.25 GW AI data center deal (Texas) expected to generate $500-600M revenue through 2027.
Cash $148M (+26% q/q); ~1.1 GW under control, up 476% YoY; completed 850 MW Japan BESS acquisition.

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