Energy Vault Holdings (NRGV) Earnings Date & Reports

Key Takeaways

• Energy Vault Holdings (NYSE: NRGV) is set to report results for the third quarter ended September 30, 2026, after the market close on Tuesday, November 10, 2026.
• Consensus estimates call for a net loss of roughly $0.21 per share on revenue of approximately $13.5 million, down about 59% from $33.3 million a year earlier.
• Management has repeatedly signaled that 2026 revenue is heavily weighted toward the fourth quarter, so the Q3 print is expected to be a relatively quiet quarter.
• Investors will focus less on the headline numbers and more on fourth-quarter delivery readiness, the 1.25-gigawatt hyperscaler agreement, and any update to full-year guidance.
• The company raised full-year 2026 revenue guidance in October to the top half of its prior range, while its backlog has grown to roughly $2 billion.
• You can find additional details on Major News, Today's Price Move, Price Targets, and Forecast on Tickeron's dedicated NRGV pages.
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Earnings Context and Why It Matters

Energy Vault Holdings operates as an integrated grid-scale energy storage and AI compute infrastructure platform, building, owning, and operating flexible energy systems for utilities, industrial customers, and data centers. Its quarterly results carry outsized significance because the company is mid-transition from a project-based provider into a more predictable "own and operate" infrastructure model. After reporting a record backlog and raising guidance last quarter, Energy Vault now faces the challenge of converting headline contract wins into recognizable revenue. With the stock having declined roughly 29% since its last report, this earnings event is a key test of whether the company's back-end-loaded 2026 plan remains on track and whether investor skepticism is justified.

Earnings Expectations

For the third quarter of fiscal 2026, Wall Street expects Energy Vault to post a net loss of approximately $0.21 per share, wider than both the prior quarter's $0.17 loss and the year-ago period's $0.16 loss. Consensus revenue is forecast at about $13.5 million, a decline of roughly 59% from the $33.3 million reported in the same quarter last year and below the $17.4 million recorded in Q2 2026. This soft outlook reflects management's own guidance that the vast majority of 2026 revenue is expected to be recognized in the fourth quarter, leaving Q2 and Q3 combined at only around $32 million.

Beyond the headline figures, investors will monitor gross margin, which management has guided to a GAAP (Generally Accepted Accounting Principles) range of 20% to 25% for the full year, as well as cash balances after the company drew on working-capital facilities ahead of the fourth-quarter ramp. Commentary on the company's roughly $500 million to $600 million, 1.25-gigawatt behind-the-meter storage and generation agreement with a hyperscaler will also be closely watched.

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Market Reaction and Investor Sentiment

Sentiment heading into this report has turned moderately bearish. Despite last quarter's record contract announcements and backlog growth, NRGV shares have fallen about 29% since the August report and currently trade near $2.95 to $3.15, well below their 200-day moving average and closer to their post-earnings low than their recent high. The market appears to be pricing in execution risk around the company's fourth-quarter revenue concentration. Key risk factors include the timing of large project deliveries, the pace of backlog conversion, and whether the company can maintain its cash position while building inventory and receivables ahead of the year-end ramp. Any narrowing of guidance toward the low end, or cautious language on revenue recognition timing, could weigh further on sentiment.

Forward Outlook and Key Factors to Monitor

The most important factor after this report will be the company's ability to deliver on its heavily back-end-loaded 2026 plan. Management has guided full-year revenue to the top half of a $270 million to $310 million range, which implies a fourth-quarter revenue figure that would need to exceed $200 million. Confirmation that milestone timing remains on schedule will be critical.

Investors should also watch for progress on the landmark 1.25-gigawatt hyperscaler agreement, which management values at roughly $500 million to $600 million, with only a portion expected to be recognized in the fourth quarter and the majority falling in 2027. Further detail on the partner, delivery schedules, or a definitive contract would add credibility to the backlog narrative.

Balance-sheet trends deserve equal attention. Cash and restricted cash stood at $148 million as of June 30, and management is targeting a year-end cash position of $160 million to $200 million. A larger-than-expected build in inventory and receivables, or rising adjusted operating expenses without corresponding revenue visibility, would draw scrutiny. Finally, the company has signaled it will provide a detailed 2027 outlook on the call, making forward guidance a key catalyst for how investors reassess the stock.

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