Energy Vault Reports Fourth Quarter and Full Year 2023 Financial Results [Yahoo! Finance]
Energy Vault Holdings, Inc. (NRGV)
Company Research
Source: Yahoo! Finance
Reduced quarterly cash Operating Expense run rate by 25-30% through actions taken in Q4 2023, enabling a 2024 reduced quarterly cash OpEx of $13-15 million to accelerate shift to cash flow positive exiting 2024 and FY 2025 FY 2023 gross margin of 5.1%, reflecting a lower than expected Q4 gross margin due to timing of revenue and associated gross profit recognition shifting from Q4 into 2024 for gravity licenses and battery projects Commercial pipeline growth of 24.5 GWh YoY, up 89% and 5.8 GWh QoQ, up 12.6% Strong global momentum in Gravity energy storage across three continents: Territory expansion of 16 countries in Southern Africa (SADC countries) via new License and Royalty agreement; Achieved China state grid interconnection in Q4 2023 as planned for the first 25MW EVx gravity storage system; Three additional Gravity Energy Storage systems of 368 MWh bringing total projects to 3.7 GWh Announcing new Development Agreement with US public utility in Washington State to
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NRGV
News
- Energy Vault Holdings, Inc. (NRGV) Sees a More Significant Dip Than Broader Market: Some Facts to Know [Yahoo! Finance]Yahoo! Finance
- Energy Vault, NV Energy Bring 220MW-440MWh Reid Gardner BESS Project to Commercial Operation [Yahoo! Finance]Yahoo! Finance
- Energy Vault, NV Energy Bring 220MW-440MWh Reid Gardner BESS Project to Commercial OperationBusiness Wire
- Energy Vault Holdings, Inc. (NRGV) Ascends While Market Falls: Some Facts to Note [Yahoo! Finance]Yahoo! Finance
- Energy Vault Schedules Inaugural Investor & Analyst Day for May 9, 2024; Schedules Release Date for First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
NRGV
Earnings
- 3/12/24 - Miss
NRGV
Sec Filings
- 4/24/24 - Form 3
- 4/19/24 - Form 8-K/A
- 4/16/24 - Form 4
- NRGV's page on the SEC website