Energy Vault 2025 Q2 Earnings Widening Losses Amid Revenue Surge

Energy Vault (NRGV) reported its fiscal 2025 Q2 earnings on August 8, 2025, with revenue surging 125.8% year-over-year. However, the company’s losses expanded, with a net loss of $34.93 million, up 33.3% from the prior year. The stock price has shown strong momentum, rising over 70% month-to-date.

Energy Vault’s total revenue for the second quarter of 2025 surged by 125.8% year-over-year to $8.51 million, driven primarily by its energy storage product sales, which accounted for the majority of its income. Tolling revenue, operation and maintenance services, and software licensing also contributed, while IP licensing formed the smallest segment. The robust performance in product sales reflects the growing adoption of the company’s energy storage technology.

The company’s net loss widened to $34.93 million in 2025 Q2, a 33.3% increase compared to the $26.20 million loss in 2024 Q2. Earnings per share dropped to a loss of $0.22, a 22.2% decline from $0.18 in the prior year. Despite the revenue growth, the persistent losses over five consecutive years indicate ongoing operational and financial challenges.

The stock price of Energy Vault has surged in recent weeks, rising 9.85% on the latest trading day, 38.10% during the past full trading week, and 71.84% month-to-date. However, a 30-day holding strategy following quarterly earnings has historically underperformed, delivering a 0.00% compound annual growth rate (CAGR) and an excess return of -47.91% over the past three years. This underperformance contrasts with a benchmark return of 47.91%. While the strategy was relatively low-risk, with a maximum drawdown and volatility of 0.00%, it failed to capitalize on broader market gains.

The Stoney Creek BESS acquisition marks a pivotal milestone in Energy Vault’s strategic shift toward owning and operating energy storage assets. The 125 MW/1,000 MWh project in Australia, now fully acquired following FIRB approval, is expected to deliver approximately $30 million in recurring annual EBITDA over the next 15+ years. With a 14-year LTESA in place and the use of Energy Vault’s proprietary technology, the project is set to enhance grid reliability and support the integration of renewable energy sources.

Energy Vault expects to move the Stoney Creek BESS into RTB (ready to build) construction, with plans to accelerate development to maximize community benefits and advance decarbonization goals. This initiative aligns with the company’s broader strategy to expand its pipeline of energy storage assets in Australia, generating both merchant and contracted revenue through its technology platforms.

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