Energy Vault Holdings, Inc. (NRGV) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
4165 EAST THOUSAND OAKS BLVD. WESTLAKE VILLIAGE, CA 91362 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 369 - Miscellaneous Electrical Machinery, Equipment, and Supplies (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash, cash equivalents, and short-term investments | 30,024 | 109,923 | 203,037 | 396 | 173 | |||
| Cash and cash equivalent | 27,091 | 109,923 | 203,037 | 396 | 173 | |||
| Short-term investments | 2,933 | |||||||
| Restricted cash and investments | 990 | 35,632 | 83,145 | |||||
| Receivables | 14,682 | 28,548 | 37,914 | |||||
| Inventory, net of allowances, customer advances and progress billings | 107 | 415 | 4,378 | |||||
| Inventory | 107 | 415 | 4,378 | |||||
| Prepaid expense | 3,423 | 3,131 | 6,609 | 115 | ||||
| Contract with customer, asset, after allowance for credit loss | 6,798 | 84,873 | 28,978 | |||||
| Deferred costs | 37 | |||||||
| Asset, held-for-sale, not part of disposal group | 6,111 | |||||||
| Other current assets | 55 | 30 | 179 | |||||
| Other undisclosed current assets | 12,826 | 10,919 | 25,827 | |||||
| Total current assets: | 68,905 | 279,582 | 390,067 | 511 | 210 | |||
| Noncurrent Assets | ||||||||
| Operating lease, right-of-use asset | 1,206 | 1,700 | 1,442 | |||||
| Property, plant and equipment | 4,901 | |||||||
| Long-term investments and receivables | 3,270 | |||||||
| Long-term investments | 3,270 | |||||||
| Intangible assets, net (including goodwill) | 4,538 | 1,786 | ||||||
| Intangible assets, net (excluding goodwill) | 4,538 | 1,786 | ||||||
| Asset, held-in-trust | 287,516 | |||||||
| Restricted cash and investments | 1,992 | |||||||
| Other noncurrent assets | 1,156 | 2,649 | 13,900 | |||||
| Other undisclosed noncurrent assets | 97,921 | 55,036 | 11,304 | |||||
| Total noncurrent assets: | 114,984 | 61,171 | 26,646 | 287,516 | ||||
| TOTAL ASSETS: | 183,889 | 340,753 | 416,713 | 288,027 | 210 | |||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities | 45,218 | 106,207 | 75,064 | 209 | 1 | |||
| Accounts payable | 20,250 | 21,165 | 60,315 | |||||
| Accrued liabilities | 24,968 | 85,042 | 14,749 | 209 | 1 | |||
| Deferred revenue | 8,938 | 4,923 | 49,434 | |||||
| Debt | 38 | 27 | 38 | |||||
| Other liabilities | ||||||||
| Due to related parties | ✕ | ✕ | ✕ | 160 | ||||
| Other undisclosed current liabilities | 461 | 697 | 787 | 25 | ||||
| Total current liabilities: | 54,655 | 111,854 | 125,323 | 209 | 186 | |||
| Noncurrent Liabilities | ||||||||
| Long-term debt and lease obligation | 16 | |||||||
| Long-term debt, excluding current maturities | ||||||||
| Finance lease, liability | 16 | |||||||
| Liabilities, other than long-term debt | 2,978 | 5,106 | 3,659 | |||||
| Deferred revenue | 1,500 | 1,500 | ||||||
| Asset retirement obligations | 560 | |||||||
| Liability, pension and other postretirement and postemployment benefits | 2,044 | 1,491 | 890 | |||||
| Other liabilities | 934 | 2,115 | ||||||
| Operating lease, liability | 709 | |||||||
| Other undisclosed noncurrent liabilities | 2 | 18,437 | ||||||
| Total noncurrent liabilities: | 2,978 | 5,106 | 3,677 | 18,437 | ||||
| Total liabilities: | 57,633 | 116,960 | 129,000 | 18,646 | 186 | |||
| Temporary equity, including noncontrolling interest | 287,500 | |||||||
| Equity | ||||||||
| Equity, attributable to parent, including: | 126,319 | 223,793 | 287,713 | (18,120) | 24 | |||
| Common stock | 15 | 15 | 14 | |||||
| Additional paid in capital | 512,022 | 473,271 | 435,852 | 24 | ||||
| Accumulated other comprehensive loss | (1,896) | (1,421) | (888) | |||||
| Accumulated deficit | (383,822) | (248,072) | (147,265) | (18,120) | (1) | |||
| Other undisclosed equity, attributable to parent | 1 | 1 | ||||||
| Equity, attributable to noncontrolling interest | (63) | |||||||
| Total equity: | 126,256 | 223,793 | 287,713 | (18,120) | 24 | |||
| TOTAL LIABILITIES AND EQUITY: | 183,889 | 340,753 | 416,713 | 288,027 | 210 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 46,199 | 341,543 | 145,877 | ||||
| Cost of revenue | (40,012) | (324,012) | (86,580) | ||||
| Gross profit: | 6,187 | 17,531 | 59,297 | ||||
| Operating expenses | (136,183) | (123,374) | (119,552) | (1,247) | |||
| Other undisclosed operating loss | (893) | (2,828) | |||||
| Operating loss: | (129,996) | (106,736) | (63,083) | (1,247) | |||
| Nonoperating income (expense) | 566 | (173) | 3,469 | (2,091) | |||
| Other nonoperating income (expense) | 566 | (173) | 3,469 | ||||
| Interest and debt expense | (123) | (35) | (2) | ||||
| Loss from continuing operations before equity method investments, income taxes: | (129,553) | (106,944) | (59,616) | (3,339) | |||
| Other undisclosed income (loss) from continuing operations before income taxes | (6,193) | 8,152 | (18,256) | ||||
| Loss from continuing operations before income taxes: | (135,746) | (98,792) | (77,872) | (3,339) | |||
| Income tax expense (benefit) | (67) | 349 | (427) | 259 | |||
| Other undisclosed loss from continuing operations | |||||||
| Loss from continuing operations: | (135,813) | (98,443) | (78,299) | (3,080) | |||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | (3,080) | ✕ | |
| Other undisclosed net loss | (259) | ||||||
| Net loss: | (135,813) | (98,443) | (78,299) | (3,339) | |||
| Net income attributable to noncontrolling interest | 63 | ||||||
| Net loss attributable to parent: | (135,750) | (98,443) | (78,299) | (3,339) | |||
| Preferred stock dividends and other adjustments | (16,717) | ||||||
| Net loss available to common stockholders, diluted: | (135,750) | (98,443) | (78,299) | (20,055) | |||
Comprehensive Income ($ in thousands)
| 3/31/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|---|
| Net loss: | (135,813) | (98,443) | (78,299) | (3,339) | |||
| Comprehensive loss: | (135,813) | (98,443) | (78,299) | (3,339) | |||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 63 | ||||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (475) | (533) | (475) | ||||
| Comprehensive loss, net of tax, attributable to parent: | (136,225) | (98,976) | (78,774) | (3,339) | |||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.