Energy Vault Holdings (NRGV) Cost of Revenue (2022 - 2026)
Energy Vault Holdings' (NRGV) quarterly Cost of Revenue came in at $17.1 million in Q1 2026, up 367.22% YoY from $3.7 million in Q1 2025, and down 85.96% on a QoQ basis from $121.7 million in Q4 2025.
Energy Vault Holdings (NRGV) Cost of Revenue (2022 - 2026) Analysis & Trends
Energy Vault Holdings (NRGV) has 5 years of Cost of Revenue data on file, last reported at $17.1 million in Q1 2026.
- Quarterly Cost of Revenue rose 367.22% year-over-year to $17.1 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $169.1 million (up 345.28% YoY) and the FY2025 annual result came in at $155.7 million, up 289.09% from the prior year.
- Cost of Revenue retreated to $17.1 million in Q1 2026, from $121.7 million in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $165.1 million in Q3 2023 to a low of $571000.0 in Q2 2022.
- A 5-year average of $39.0 million and a median of $13.0 million in 2023 frame the typical range for Cost of Revenue.
- Annual changes were most pronounced in 2023 — Cost of Revenue surged 10069.87% — and 2024, when it slumped 99.57%.
- Tracing NRGV's Cost of Revenue over 5 years: stood at $84.4 million in 2022, then surged by 35.35% to $114.2 million in 2023, then sank by 72.96% to $30.9 million in 2024, then soared by 294.11% to $121.7 million in 2025, then slumped by 85.96% to $17.1 million in 2026.
- The last three Cost of Revenue figures came in at $17.1 million (Q1 2026), $121.7 million (Q4 2025), and $24.3 million (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Enlight Renewable Energy | 11.88 Bn | 10.71 Bn | 117.49 Mn | 48.50 Mn |
| 2 | Ormat Technologies | 6.97 Bn | 6.31 Bn | 68.70 Mn | 190.07 Mn |
| 3 | Brookfield Renewable Partners | 4.63 Bn | 2.13 Bn | 623.00 Mn | 453.00 Mn |
| 4 | Clearway Energy | 3.77 Bn | 3.44 Bn | 332.00 Mn | 149.00 Mn |
| 5 | ReNew Energy Global | 2.48 Bn | 2.06 Bn | 269.00 Mn | 70.00 Mn |
| 6 | Fluence Energy | 1.82 Bn | 1.26 Bn | 33.24 Mn | 616.61 Mn |
| 7 | XPLR Infrastructure | 1.08 Bn | 580.68 Mn | - | - |
| 8 | Energy Vault Holdings | 687.47 Mn | 618.72 Mn | 4.79 Mn | 17.09 Mn |
| 9 | AXIA Energia | 672.29 Mn | -1.91 Bn | 1.44 Bn | 975.34 Mn |
| 10 | Eco Wave Power Global AB (publ) | 342.25 Mn | 342.25 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 17.09 Mn |
| Mar 31, 2026 | 17.09 Mn |
| Dec 31, 2025 | 121.72 Mn |
| Dec 31, 2025 | 121.72 Mn |
| Sep 30, 2025 | 24.31 Mn |
| Sep 30, 2025 | 24.31 Mn |
| Jun 30, 2025 | 6.00 Mn |
| Jun 30, 2025 | 6.00 Mn |
| Mar 31, 2025 | 3.66 Mn |
| Mar 31, 2025 | 3.66 Mn |
| Dec 31, 2024 | 30.88 Mn |
| Dec 31, 2024 | 30.88 Mn |
| Sep 30, 2024 | 716,000.00 |
| Sep 30, 2024 | 716,000.00 |
| Jun 30, 2024 | 2.72 Mn |
| Jun 30, 2024 | 2.72 Mn |
| Mar 31, 2024 | 5.69 Mn |
| Mar 31, 2024 | 5.69 Mn |
| Dec 31, 2023 | 114.22 Mn |
| Dec 31, 2023 | 114.22 Mn |