Energy Vault Reports Q1 2026 Earnings with Strong Revenue Growth and Record Backlog
Energy Vault (NRGV) reported Q1 2026 earnings with revenue of $21.9 million, a 150% increase year-over-year, driven by higher energy storage project deliveries and new asset portfolio contributions. The company also reported a record backlog of $1.35 billion, up 108% year-over-year, and raised $150 million through a convertible notes offering.
Topics: adjusted_ebitda adjusted_gross_margin backlog cash_balance convertible_notes itc_monetization megawatts_under_control revenue