Energy Vault Stock Soars 20.5% Despite Q3 Losses and Negative Free Cash Flow

Energy Vault's Q3 revenue surged 27 times YoY to $33.3 million, with a net loss of $0.16 per share. Despite missing GAAP expectations, the company's operating cash flow turned positive, and management doubled down on guidance for $200-$250 million in revenue this year. However, investors should note that Energy Vault won't turn profitable for years and is still deeply free-cash-flow-negative.