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Energy Vault Holdings, Inc. income statement

In fiscal 2025, Energy Vault Holdings, Inc. reported revenue of $204m, up 340.9% on the year before, operating income of −$74.4m (a -36.5% margin) and net income of −$104m, or −$0.65 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Revenue014634246204226
Cost of revenue08732440156175
Gross profit0591864851
Research and development84337261512
Selling and marketing11318161412
General and administrative185768638188
Operating income−30−63−107−130−74−74
Interest expense0000814
Provision for credit losses——0554
Income before tax−31−78−99−136−96−104
Income tax00−0086
Net income−31−78−98−136−104−110
Diluted EPS−$0.24−$0.64−$0.69−$0.91−$0.65−$0.64
Diluted shares (average)128m123m143m150m161m170m
EBITDA−27−55−106−129−71−67

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Energy Vault Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Energy Vault Holdings, Inc.