Energy Vault Reports Third Quarter 2026 Financial Results, Affirms Recently Raised Full-Year 2026 Revenue Guidance and Provides Preliminary 2027 Financial Guidance
Key Highlights
- ➤2026 revenue guidance $290–$310 million, at the top half of prior range
- ➤Preliminary 2027 revenue guidance $600–$700 million
- ➤Preliminary 2027 adjusted EBITDA guidance $40–$50 million
- ➤Contract backlog $2.3 billion, up 147% year-over-year
- ➤Total cash $236 million, up 281% year-over-year
Expert Statements
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“During the third quarter, we continued advancing our integrated Build, Own & Operate strategy, expanding our global development pipeline and strengthening our cash and overall financial position.”
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“Our backlog reached $2.3 billion as of November 10th, third quarter total cash increased almost 3x year-over-year, and we achieved important financing, acquisition and development milestones that support the long-term growth of our owned infrastructure platform.”
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“In AI infrastructure, we secured non-recourse financing for 275 MW of Rolls-Royce MTU reciprocating engine generation capacity, advanced our Digital Vault Sulcis development in Italy following its designation as a project of pre-eminent national strategic interest, and started construction of the Snyder AI modular data center project.”
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“During the fourth quarter, we began deliveries to the recently announced 1.25GW hybrid generation and energy storage project supporting AI compute infrastructure in Texas.”
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“In our Asset Vault portfolio, we completed our second acquisition this year following the previously announced Japanese portfolio acquisition from Baywa Renewables in Q2, acquiring 2.3 GW of U.S. BESS development projects from Goshe Energy Storage, including 350 MW ready to build.”
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“In Australia, we achieved important development milestones at our 125 MW / 1 GWh Stoney Creek BESS in Australia, including formal grid interconnection approval last week, which paves the way for an accelerated construction ramp up.”
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“Multiple project financings in U.S. and Australia are underway.”
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“Our third quarter financial performance reflects our previously discussed timing of deliveries and continued strengthening of our balance sheet and liquidity.”
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“Revenue was $13.1 million, with GAAP gross margin of 71.0% and adjusted gross margin of 81.1% with total cash growing ~60% quarter-over-quarter and almost 3x year-over-year to $236 million.”
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault
“We remain focused on efficient project execution for our customers, capital discipline and progressing our development pipeline towards operating assets and long term, recurring EBITDA.”
Energy Vault Reports Third Quarter 2026 Financial Results, Affirms Recently Raised Full-Year 2026 Revenue Guidance and Provides Preliminary 2027 Financial Guidance
Contract backlog reached $2.3 billion, up 15% sequentially and 147% year-over-year
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