Energy Vault Q2 Revenue Doubles, Raises 2026 Guidance on AI Data Center Deal
NRGV has more than doubled off its 52-week low of $1.34.
Summary
Q2 revenue hit $17.37M, doubling year-over-year and beating the $14.14M consensus. Adjusted gross margin surged to 38.6%, up 900 basis points, driven by Australian battery storage projects. Management raised full-year 2026 revenue guidance to $270-$310M and GAAP gross margin to 20%-25%, citing a new 1.25 GW integrated power contract for AI data centers in Texas expected to generate $500-$600M in near-term revenue. This follows a string of positive developments: the July 27 start of the Snyder AI campus construction and the August 7 strategic agreement for 1.25 GW of AI infrastructure. The raised guidance and large contract win directly address the cash burn and covenant breach flagged in the May 10-Q, signaling a potential turnaround. Year-end cash is targeted at $160-$200M, providing a clearer liquidity path.
At the time of this announcement, NRGV was trading at $4.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $648.8M. The 52-week trading range was $1.34 to $6.65. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.