Energy Vault's second quarter revenue beat expectations as full-year 2026 guidance was raised

Energy Vault Holdings reported second quarter 2026 revenue of $17.4 million, surpassing analyst estimates by 22% and growing 104% year-over-year. The company posted a GAAP net loss of $29.7 million, or $0.17 per share, missing consensus estimates as higher operating expenses for commercial expansion offset gross profit growth. Following significant contract signings in the first half of the year, management increased its full-year revenue and margin outlook.

Key Highlights

• Total contract backlog reached approximately $2 billion as of August 2026, a 107% year-over-year increase driven primarily by the AI Compute Infrastructure segment.
• Management raised full-year 2026 revenue guidance to $270-$310 million and lifted the floor for GAAP gross margin guidance to 20%.
• The company secured a strategic agreement to deploy 1.25 GW of integrated power infrastructure for a Texas AI data center, expected to generate $500-$600 million through 2027.
• Global capacity under operation, construction, and control reached ~1.1 GW, on track to deliver $180 million in recurring annual EBITDA within the next 18-36 months.