Energy Vault Holdings (NRGV) Cost of Revenue (2022 - 2026)
Energy Vault Holdings (NRGV) reported Cost of Revenue of $11.99 million for Q2 2026, up 100.0% from $6 million a year earlier but down 29.8% from the prior quarter.
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Analysis
Energy Vault Holdings (NRGV) Cost of Revenue (2022 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Energy Vault Holdings' Cost of Revenue came in at $175.11 million, up 324.5% year-over-year; for FY2025, it came in at $155.68 million, up 289.1% from FY2024.
- Cost of Revenue has a three-year compound annual growth rate of 21.6% (FY2022 to FY2025).
- By year, Cost of Revenue came in at $40.01 million in FY2024 (-87.7%), $324.01 million in FY2023 (+274.2%) and $86.58 million in FY2022.
- Five-year quarterly Cost of Revenue spans a low of $571,000 in Q2 2022 and a high of $165.06 million in Q3 2023.
- Year over year, Cost of Revenue has now increased in each of the last three quarters, with growth averaging 96.2% over the last seven quarters.
- The high point for year-over-year Cost of Revenue in five years was Q1 2026 (growth of 367.2%); the low point was Q3 2024 (a decline of 99.6%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $17.09 million (Q1 2026), $121.72 million (Q4 2025) and $24.31 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 263.36 Bn | 224.44 Bn | 2.36 Bn | 8.74 Bn |
| 2 | Bloom Energy | 84.85 Bn | 76.67 Bn | 355.57 Mn | 709.79 Mn |
| 3 | First Solar | 18.77 Bn | 9.72 Bn | 605.00 Mn | 451.19 Mn |
| 4 | Generac Holdings | 12.79 Bn | 11.62 Bn | 521.81 Mn | 651.70 Mn |
| 5 | Nextpower | 12.78 Bn | 8.68 Bn | 335.85 Mn | 599.32 Mn |
| 6 | BWX Technologies | 12.36 Bn | 10.66 Bn | 202.31 Mn | 699.32 Mn |
| 7 | EnerSys | 7.13 Bn | 5.32 Bn | 313.36 Mn | 622.28 Mn |
| 8 | Enphase Energy | 4.42 Bn | -436.70 Mn | 175.01 Mn | 116.84 Mn |
| 9 | Mirion Technologies | 3.57 Bn | 1.46 Bn | 133.10 Mn | 133.70 Mn |
| 10 | Energy Vault Holdings | 708.96 Mn | 495.52 Mn | 5.38 Mn | 11.99 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.99 Mn |
| Mar 31, 2026 | 17.09 Mn |
| Dec 31, 2025 | 121.72 Mn |
| Sep 30, 2025 | 24.31 Mn |
| Jun 30, 2025 | 6.00 Mn |
| Mar 31, 2025 | 3.66 Mn |
| Dec 31, 2024 | 30.88 Mn |
| Sep 30, 2024 | 716,000.00 |
| Jun 30, 2024 | 2.72 Mn |
| Mar 31, 2024 | 5.69 Mn |
| Dec 31, 2023 | 114.22 Mn |
| Sep 30, 2023 | 165.06 Mn |
| Jun 30, 2023 | 35.73 Mn |
| Mar 31, 2023 | 9.00 Mn |
| Dec 31, 2022 | 84.39 Mn |
| Sep 30, 2022 | 1.62 Mn |
| Jun 30, 2022 | 571,000.00 |
API Access
Energy Vault Holdings Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NRGV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "NRGV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NRGV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();