ENERGY VAULT HOLDINGS, INC. (NRGV)

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ENERGY VAULT HOLDINGS, INC.

NRGV • CIK 0001828536

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Revenues	—	—	$203,671	$225,873
Cost of Revenue	$324,012	$40,012	$155,681	$175,111
Gross Profit	$17,531	$6,187	$47,990	$50,762
Operating Income (Loss)	$-106,736	$-129,996	$-74,367	$-74,186
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$-98,792	$-135,746	$-95,895	$-103,566
Income Tax Expense (Benefit)	$-349	$67	$7,763	$6,163
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	—	$-135,813	$-103,658	$-109,729
Net Income (Loss) Attributable to Noncontrolling Interest	—	$-63	$-47	$-4
Net Income (Loss) Attributable to Parent	$-98,443	$-135,750	$-103,611	$-109,725
Weighted Average Number of Shares Outstanding, Basic	142,851,000	149,846,000	160,533,000	180,209,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$-98,976	$-136,225	$-102,681	$-108,660
Selling and Marketing Expense	$18,210	$15,839	$13,698	$12,167
Research and Development Expense	$37,104	$25,999	$14,635	$11,873
General and Administrative Expense	$68,060	$62,971	$81,180	$88,455
Depreciation, Depletion and Amortization	$893	$1,058	$3,435	$6,799
Gain (Loss) on Sale of Assets and Asset Impairment Charges	—	$-336	$0	$0
Operating Expenses	—	$136,183	$122,357	$124,948
InterestExpenseNonoperating	—	$123	$8,464	$13,511
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount	$0	$11,730	$0	$0
Other Nonoperating Income (Expense)	$-173	$566	$-5,985	$-10,790
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	$519	$640	$-667	$-378
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	$-14	$165	$263	$687
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$-533	$-475	$930	$1,065

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Cash Equivalents, at Carrying Value	$109,923	$27,091	$58,260	$93,043
Restricted Cash, Current	$35,632	$990	$4,717	$14,309
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	$31,043	$99,493	$96,064	$96,133
Accounts Receivable, after Allowance for Credit Loss, Current	$27,189	$14,565	$25,938	$7,235
Intangible Assets, Net (Excluding Goodwill)	$1,786	$4,538	$8,277	$7,195
Contract with Customer, Asset, after Allowance for Credit Loss, Current	$84,873	$6,798	$20,631	$15,065
Operating Lease, Right-of-Use Asset	$1,700	$1,206	$2,242	$2,024
Inventory, Net	$415	$107	$139	$366
Contract with Customer, Receivable, after Allowance for Credit Loss, Noncurrent	$6,698	$3,329	$0	$0
Contract with Customer, Receivable, after Allowance for Credit Loss, Current	$2,625	$2,148	$0	$0
Long-term Investments	—	$3,270	$3,366	$1,336
Restricted Cash, Noncurrent	—	$1,992	$40,466	$40,669
Prepaid Expense and Other Assets, Current	$4,520	$3,595	$5,067	$15,249
Deferred Income Tax Assets, Net	—	—	$40,508	$28,467
Assets, Current	$279,582	$68,905	$121,070	$181,549
Other Assets, Noncurrent	$2,649	$1,156	$883	$13,153
Assets	$340,753	$183,889	$312,876	$370,526
Long-term Debt, Excluding Current Maturities	—	—	$37,970	$165,036
Liability, Defined Benefit Plan, Noncurrent	$1,491	$2,044	$1,837	$1,914
Other Liabilities, Noncurrent	$2,115	$934	$4,386	$5,269
Liabilities	$116,960	$57,633	$224,260	$337,918
Accounts Payable, Current	$21,165	$20,250	$30,838	$14,988
Accrued Liabilities, Current	$85,042	$24,968	$70,389	$27,824
Long-term Debt, Current Maturities	—	—	$56,628	$77,978
Contract with Customer, Liability, Current	$4,923	$8,938	$6,610	$29,726
Other Liabilities, Current	—	—	$552	$1,683
Liabilities, Current	$111,854	$54,655	$165,017	$152,199
Redeemable Noncontrolling Interest, Equity, Carrying Amount	—	—	$21,156	$25,751
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount	$0	$0	$0	$0
Common Stock, Value, Issued	$15	$15	$17	$18
Additional Paid in Capital	$473,271	$512,022	$555,873	$557,315
Retained Earnings (Accumulated Deficit)	$-248,072	$-383,822	$-487,433	$-549,610
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-1,421	$-1,896	$-966	$-835
Stockholders' Equity Attributable to Noncontrolling Interest	—	$-63	$-31	$-31
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	—	$126,256	$67,460	$6,857
Accounts Receivable, Allowance for Credit Loss	$69	$1,211	$1,236	$1,251
Contract with Customer, Asset, Allowance for Credit Loss	$1,113	$25,030	$25,101	$25,163
Contract with Customer, Receivable, Allowance for Credit Loss, Current	$375	$2,352	$4,500	$4,500
Contract with Customer, Receivable, Allowance for Credit Loss, Noncurrent	$957	$3,645	$6,974	$6,974
Temporary Equity, Shares Authorized	5,000,000	5,000,000	5,000,000	5,000,000
Temporary Equity, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	500,000,000	500,000,000	500,000,000	500,000,000
Common Stock, Shares, Issued	146,577,000	153,206,000	168,969,000	179,940,000
Prepaid Expense, Current	$3,131	$3,423	$3,918	$13,058
Income Taxes Receivable, Current	$1,359	$117	$813	$765
Short-term Investments	—	$2,933	$325	$332
Other Assets, Current	$30	$55	$11	$11
Interest Receivable	—	$850	$0	$0
Other Assets, Miscellaneous, Noncurrent	$1,624	$306	$883	$303
Employee-related Liabilities, Current	$5,985	$4,019	$12,321	$5,914
Taxes Payable, Current	$733	$2,351	$4,572	$908
Accrued Professional Fees, Current	$4,522	$8,373	$1,487	$4,097
Interest Payable, Current	—	—	$1,445	$3,899
Accrued Insurance, Current	$358	$724	$434	$0
Product Warranty Accrual, Current	$894	$1,336	$241	$1,013
Operating Lease, Liability, Current	$697	$461	$511	$515
Finance Lease, Liability, Current	$27	$38	$41	$36
Operating Lease, Liability, Noncurrent	$1,044	$785	$1,501	$1,351
Asset Retirement Obligation	$52	$11	$1,035	$1,087
AssetAcquisitionContingentConsiderationLiabilityNoncurrent	—	—	$891	$933
Derivative Liability, Noncurrent	—	—	$458	$458
Finance Lease, Liability, Noncurrent	$93	$81	$75	$52
Product Warranty Accrual, Noncurrent	$924	$55	$226	$1,017

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	—	$-135,813	$-103,658	$-109,729
Net Cash Provided by (Used in) Operating Activities	$-92,655	$-55,860	$-5,649	$-102,639
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$52	$-634	$576	$-1,761
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-140,627	$-115,482	$73,370	$89,922
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$145,555	$30,073	$103,443	$173,415
Restricted Cash	$35,632	$2,982	$45,183	$77,734
Cash and Cash Equivalents, at Carrying Value	$109,923	$27,091	$58,260	$95,681
Payments to Acquire Property, Plant, and Equipment	$30,431	$58,853	$41,093	$42,105
Payments to Acquire Notes Receivable	$0	$330	$2,142	$0
Gain (Loss) on Extinguishment of Debt	—	—	$-1,532	$-5,490
Payments to Acquire Intangible Assets	—	—	$1,372	$1,372
Proceeds from Sale of Property, Plant, and Equipment	—	$447	$0	$0
Share-based Payment Arrangement, Noncash Expense	$43,097	$38,709	$36,713	$29,872
Net Cash Provided by (Used in) Investing Activities	$-42,542	$-58,736	$-44,607	$-31,712
Gain (Loss) on Sale of Assets and Asset Impairment Charges	—	$-336	$0	$0
Deferred Income Tax Expense (Benefit)	$0	$0	$7,149	$7,425
Foreign Currency Transaction Gain (Loss), before Tax	$-222	$-300	$-1,124	$-763
Proceeds from Issuance of Debt	—	—	$151,300	$311,599
Repayments of Debt	—	—	$56,457	$88,196
Payments of Debt Issuance Costs	—	—	$9,604	$14,030
Proceeds from Short-term Debt	$1,250	$2,745	$2,586	$921
Repayments of Short-term Debt	$892	$2,446	$2,904	$2,117
Proceeds from Noncontrolling Interests	—	—	$33,679	$33,679
Payments to Noncontrolling Interests	—	—	$2,630	$2,630
Proceeds from Issuance of Common Stock	$0	—	$6,849	$9,573
Proceeds from Stock Options Exercised	$224	$42	$735	$1,709
Finance Lease, Principal Payments	$47	$185	$104	$46
Payment, Tax Withholding, Share-based Payment Arrangement	$6,017	$408	$424	$3,845
Net Cash Provided by (Used in) Financing Activities	$-5,482	$-252	$123,050	$226,034
Income Taxes Paid	$46	$52	$643	$643
Interest Paid, Excluding Capitalized Interest, Operating Activities	$35	$123	$3,396	$6,230
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$-519	$-640	$667	$378
Capital Expenditures Incurred but Not yet Paid	$5,051	$6,400	$875	$-10,618
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$108	$60	$87	$0
Increase (Decrease) in Accounts Receivable	$-10,202	$-11,482	$11,334	$2,932
Increase (Decrease) in Inventories	$-3,963	$-308	$31	$265
Increase (Decrease) in Contract with Customer, Asset	—	—	$13,423	$6,443
Increase (Decrease) in Prepaid Expense and Other Assets	$-2,851	$-7,953	$1,072	$9,318
Increase (Decrease) in Other Operating Assets	$496	$1,747	$2,989	$16,655
Increase (Decrease) in Accounts Payable and Accrued Liabilities	$25,508	$-66,770	$60,003	$4,249
Increase (Decrease) in Contract with Customer, Liability	$-44,537	$3,073	$-2,800	$-35,560
Increase (Decrease) in Other Operating Liabilities	$-444	$-1,349	$-299	$76

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Import this data to Google Sheets with:

=jivedata("NRGV","financials")

Full statements spill as a table. For one cell: =jivedata("NRGV","Revenue") or =jivedata("NRGV","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.