Energy Vault Lifts 2026 Revenue Outlook to $270–310M After Q2 Revenue Doubles
NRGV has more than doubled off its 52-week low of $1.34.
Summary
Energy Vault posted Q2 revenue of $17.4M, doubling year-over-year, and raised its full-year 2026 revenue guidance to $270–310M. Backlog reached ~$2B, and cash grew to $148M.
Key Events · Earnings and Guidance · NRGV
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Q2 Revenue Doubles, Beats Consensus
Revenue hit $17.4M, a 104% y/y increase, driven by Australia BESS projects and exceeding consensus estimates.
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Full-Year Guidance Raised
The 2026 revenue outlook was lifted to $270–310M from $225–300M, and the GAAP gross margin guidance was narrowed to 20–25% from 15–25%.
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Backlog Surges to ~$2B
Contract backlog expanded by $650M sequentially to roughly $2B, up 107% y/y, with about 40% expected to convert to revenue within 12–18 months.
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1.25 GW AI Data Center Contract
A strategic agreement to deploy 1.25 GW of integrated power infrastructure for hyperscaler AI data centers is expected to generate $500–600M in revenue through 2027.
Analysis · NRGV · Manufacturing
A standout Q2 saw revenue more than double year-over-year to $17.4 million, while adjusted gross margins expanded to 38.6%. Reflecting that momentum, the company raised its full-year 2026 revenue guidance to $270–310 million and tightened the GAAP gross margin outlook to 20–25%. Backlog surged to roughly $2 billion, fueled by a landmark 1.25 GW AI data center contract that is expected to deliver $500–600 million in near-term revenue. Cash climbed for the sixth straight quarter to $148 million, providing ample runway for growth. Although GAAP profitability remains elusive, the results and updated guidance materially improve revenue visibility and the margin trajectory.
At the time of this filing, NRGV was trading at $4.03 on NYSE in the Manufacturing sector, with a market capitalization of approximately $648.8M. The 52-week trading range was $1.34 to $6.65. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.