Energy Vault Holdings, Inc. Earnings Recaps
Q3 2025
Nov 12, 2025
Energy Vault experienced a pivotal third quarter in 2025 with strong revenue growth and successful project launches, setting the stage for a significant expansion in its energy storage portfolio.
Key takeaways
- Revenue surged to $33 million, reflecting a substantial year-over-year and sequential growth trajectory.
- Company narrowed its EBITDA loss to $6 million while maintaining robust gross margins of 27%.
- Cash balance continues to grow, supported by recent project financing initiatives totaling $300 million, with expectations for a further increase in Q4.
- Contract backlog reached nearly $1 billion, more than doubling in 2025 and indicating strong demand for future projects.