Energy Vault Reports Strong Q2 2025 Growth

Energy Vault Holdings, Inc. ( (NRGV) ) has released its Q2 earnings. Here is a breakdown of the information Energy Vault Holdings, Inc. presented to its investors.

Energy Vault Holdings, Inc., a leader in sustainable, grid-scale energy storage solutions, develops and deploys utility-scale energy storage technologies, including gravity-based, battery, and green hydrogen energy storage systems.

In its second quarter of 2025, Energy Vault reported a significant increase in revenue and contract backlog, reflecting its strategic advancements and project developments. The company achieved a 126% increase in quarterly revenue to $8.5 million compared to the previous year, driven by project deliveries in Australia and the commencement of the Cross Trails Battery Energy Storage System (BESS) in Texas.

Key financial highlights include a 47% increase in contract revenue backlog to $954 million and a 140% rise in GAAP gross profit to $2.5 million. Despite an adjusted EBITDA loss of $13.7 million, this marks an 11% improvement from the prior year. The company also enhanced its cash position by 23% to $58.1 million and completed significant project financings, including $17.8 million for the Cross Trails project.

Strategically, Energy Vault signed an exclusivity agreement for a $300 million preferred equity investment to support the construction and operation of 1.5GW of energy storage projects, expected to generate over $100 million in annual EBITDA in the coming years. The company continues to expand its project portfolio with new agreements in the U.S. and Australia.

Looking ahead, Energy Vault anticipates full-year 2025 revenue between $200-250 million, supported by ongoing project developments and strategic investments. The company remains focused on refining its long-term strategy and enhancing its financial and operational performance.