Novonix Limited (NVX) Revenue History
Annual and quarterly revenue from 2014 to 2024
Compound Annual Growth Rate (CAGR)
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NVX Revenue Growth
Revenue Breakdown (FY 2024)
NVX's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
NVX Revenue Analysis (2014–2024)
As of May 8, 2026, Novonix Limited (NVX) generated trailing twelve-month (TTM) revenue of $13.0 million, reflecting modest growth of +2.9% year-over-year. The most recent quarter (Q2 2025) recorded $2.8 million in revenue, down 9.1% sequentially.
Looking at the longer-term picture, NVX's 5-year compound annual growth rate (CAGR) stands at +6.6%, indicating steady revenue expansion. The company achieved its highest annual revenue of $12.1 million in 2023.
Revenue diversification analysis shows NVX's business is primarily driven by Hardware Sales (100%). With over half of revenue concentrated in Hardware Sales, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including CBAT (-22.0% YoY), MVST (+12.6% YoY), and GPRE (-21.4% YoY), NVX has underperformed the peer group in terms of revenue growth. Compare NVX vs CBAT →
NVX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NVXCurrent | $13M | +2.9% | +6.6% | -880.0% | |
 CBAT | $177M | -22.0% | +51.4% | 5.0% | |
 MVST | $428M | +12.6% | +31.8% | 1.6% | |
 GPRE | $2.1B | -21.4% | +1.7% | -4.0% | |
 KORE | $286M | +0.1% | +11.1% | -35.9% | |
 ENPH | $1.5B | -1.6% | +13.7% | 11.2% |
NVX Historical Revenue Data (2014–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $5.9M | -51.8% | $4.1M | 69.8% | $-51,518,216 | -880.0% |
| 2023 | $12.1M | +228.5% | $9.3M | 76.8% | $-45,471,572 | -374.7% |
| 2022 | $3.7M | -39.5% | $-20,629,923 | -558.6% | $-39,084,733 | -1058.2% |
| 2021 | $6.1M | +16.7% | $4.4M | 71.7% | $-47,473,879 | -778.1% |
| 2020 | $5.2M | +22.9% | $-3,278,107 | -62.7% | $-15,982,450 | -305.7% |
| 2019 | $4.3M | +134.1% | $-2,444,278 | -57.5% | $-15,542,440 | -365.4% |
| 2018 | $1.8M | -16.3% | $-1,523,355 | -83.8% | $-11,294,310 | -621.6% |
| 2017 | $2.2M | +2587.8% | $-596,801 | -27.5% | $-8,436,040 | -388.4% |
| 2016 | $81K | +290.4% | $-1,324,984 | -1639.7% | $-5,456,370 | -6752.3% |
| 2015 | $21K | - | $21K | 100.0% | $-1,104,490 | -5335.7% |
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Start ComparisonNVX — Frequently Asked Questions
Quick answers to the most common questions about buying NVX stock.
Is NVX's revenue growth accelerating or slowing?
NVX revenue growth slowed to +2.9%, below the 5-year CAGR of +6.6%. TTM revenue is $13M. The deceleration marks a shift from historical growth rates.
What is NVX's long-term revenue growth rate?
Novonix Limited's 5-year revenue CAGR of +6.6% reflects the variable expansion pattern. Current YoY growth of +2.9% is near this long-term average.
How is NVX's revenue distributed by segment?
NVX reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2024 are available for download. Segment mix reveals concentration and diversification trends.