Energy Vault Holdings, Inc. (NRGV) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
NRGV Revenue Growth
Revenue Breakdown (FY 2025)
NRGV's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
NRGV Revenue Analysis (2019–2025)
As of May 7, 2026, Energy Vault Holdings, Inc. (NRGV) generated trailing twelve-month (TTM) revenue of $217.0 million, reflecting explosive growth of +156.4% year-over-year. The most recent quarter (Q1 2026) recorded $21.9 million in revenue, down 85.7% sequentially.
Looking at the longer-term picture, NRGV's historical revenue data shows a 3-year CAGR of +11.8%. The company achieved its highest annual revenue of $341.5 million in 2023.
Revenue diversification analysis shows NRGV's business is primarily driven by Intellectual Property Licensing (86%), and Software Licensing (14%). With over half of revenue concentrated in Intellectual Property Licensing, the company maintains significant focus in this area while developing other growth vectors.
When compared to Utilities sector peers including FLNC (+10.9% YoY), STEM (+0.7% YoY), and GRRR (+47.9% YoY), NRGV has outperformed the peer group in terms of revenue growth. Compare NRGV vs FLNC →
NRGV Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NRGVCurrent | $217M | +156.4% | - | -36.5% | |
 FLNC | $2.3B | +10.9% | +32.2% | -2.0% | |
 STEM | $156M | +0.7% | +33.9% | -38.7% | |
 GRRR | $75M | +47.9% | +13.7% | -89.6% | |
 BE | $2.0B | +56.5% | +20.6% | 3.6% | |
 HYPR | $14M | +5.2% | +115.2% | -273.4% |
NRGV Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $203.7M | +340.9% | $48.0M | 23.6% | $-74,367,000 | -36.5% |
| 2024 | $46.2M | -86.5% | $6.2M | 13.4% | $-129,996,000 | -281.4% |
| 2023 | $341.5M | +134.1% | $17.5M | 5.1% | $-106,736,000 | -31.3% |
| 2022 | $145.9M | - | $59.3M | 40.6% | $-60,255,000 | -41.3% |
| 2021 | $0 | - | $-2,437,000 | - | $-26,813,000 | - |
| 2020 | $0 | - | $0 | - | $-14,505,432 | - |
| 2019 | $0 | - | $0 | - | $10.0M | - |
See NRGV's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs NRGV Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare NRGV vs GEV
Side-by-side business, growth, and profitability comparison vs GE Vernova Inc..
Start ComparisonNRGV — Frequently Asked Questions
Quick answers to the most common questions about buying NRGV stock.
Is NRGV's revenue growth accelerating or slowing?
NRGV revenue is accelerating at +156.4% year-over-year, exceeding the 5-year CAGR of N/A. TTM revenue reached $217M. Growth momentum has increased versus prior periods.
What is NRGV's long-term revenue growth rate?
Energy Vault Holdings, Inc.'s 5-year revenue CAGR of N/A reflects the sustained expansion pattern. Current YoY growth of +156.4% is above this long-term average.
How is NRGV's revenue distributed by segment?
NRGV reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.