Energy Vault Q2 revenue jumps 104% on progress in Australia battery projects

Energy Vault Holdings

11/08/2026 21:20

Overview
Grid-scale energy storage firm's Q2 revenue more than doubled, beating analyst expectations
Adjusted gross margin rose to 38.6%, up 900 bps yr/yr, driven by project progress
Company raised full-year 2026 revenue and gross margin guidance on strong backlog growth

Outlook
Energy Vault raises 2026 revenue guidance to $270-$310 mln from $225-$300 mln
Company lifts 2026 GAAP gross margin guidance to 20%-25%, now at high end of prior range
Energy Vault targets $160-$200 mln in total cash at year-end 2026

Result Drivers
PROJECT EXECUTION - Q2 revenue growth attributed to progress in Australia-based BESS projects
LARGE CONTRACT WIN - Executed 1.25 GW integrated power and storage contract in Texas for AI data centers, expected to generate $500-$600 mln in near-term revenue

Company press release: ID:nBw9ZytT8a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$17.37 mln
$14.14 mln (4 Analysts)
Q2 Net Loss
 
$29.69 mln
 
Q2 Pretax Loss
 
$28.84 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for Energy Vault Holdings, Inc. is $5.00, about 49.7% above its August 10 closing price of $3.34

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)