Energy Vault Holdings (NRGV) Operating Expenses (2021 - 2026)
Energy Vault Holdings' (NRGV) quarterly Operating Expenses came in at $29.0 million in Q1 2026, up 12.5% YoY from $25.8 million in Q1 2025, and down 26.29% on a QoQ basis from $39.3 million in Q4 2025.
Energy Vault Holdings (NRGV) Operating Expenses (2021 - 2026) Analysis & Trends
Energy Vault Holdings (NRGV) has 6 years of Operating Expenses data on file, last reported at $29.0 million in Q1 2026.
- Quarterly Operating Expenses rose 12.5% year-over-year to $29.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $125.6 million (down 7.16% YoY) and the FY2025 annual result came in at $122.4 million, down 10.15% from the prior year.
- Operating Expenses eased to $29.0 million in Q1 2026, from $39.3 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $53.0 million in Q4 2024 to a low of $12.6 million in Q2 2022.
- A 5-year average of $29.0 million and a median of $28.2 million in 2023 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses soared 21412.71% — and 2025, when it dropped 25.78%.
- Tracing NRGV's Operating Expenses over 5 years: stood at $27.7 million in 2022, then grew by 2.01% to $28.2 million in 2023, then soared by 87.84% to $53.0 million in 2024, then decreased by 25.78% to $39.3 million in 2025, then retreated by 26.29% to $29.0 million in 2026.
- The last three Operating Expenses figures came in at $29.0 million (Q1 2026), $39.3 million (Q4 2025), and $26.6 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enlight Renewable Energy | 11.86 Bn | 10.69 Bn | 117.49 Mn | 118.69 Mn |
| 2 | Ormat Technologies | 6.97 Bn | 6.31 Bn | 68.70 Mn | 27.07 Mn |
| 3 | Brookfield Renewable Partners | 4.63 Bn | 2.13 Bn | 623.00 Mn | 783.00 Mn |
| 4 | Clearway Energy | 3.79 Bn | 3.45 Bn | 332.00 Mn | 365.00 Mn |
| 5 | ReNew Energy Global | 2.48 Bn | 2.06 Bn | 269.00 Mn | 408.00 Mn |
| 6 | Fluence Energy | 1.83 Bn | 1.27 Bn | 33.24 Mn | 63.04 Mn |
| 7 | XPLR Infrastructure | 1.08 Bn | 584.55 Mn | - | 304.00 Mn |
| 8 | AXIA Energia | 672.29 Mn | -1.91 Bn | 1.44 Bn | -424.56 Mn |
| 9 | Energy Vault Holdings | 671.14 Mn | 602.39 Mn | 4.79 Mn | 28.99 Mn |
| 10 | Eco Wave Power Global AB (publ) | 342.25 Mn | 342.25 Mn | - | -682,000.00 |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 28.99 Mn |
| Dec 31, 2025 | 39.33 Mn |
| Sep 30, 2025 | 26.59 Mn |
| Jun 30, 2025 | 30.66 Mn |
| Mar 31, 2025 | 25.77 Mn |
| Dec 31, 2024 | 53.00 Mn |
| Sep 30, 2024 | 27.56 Mn |
| Jun 30, 2024 | 28.93 Mn |
| Mar 31, 2024 | 26.70 Mn |
| Dec 31, 2023 | 28.21 Mn |
| Sep 30, 2023 | 28.38 Mn |
| Jun 30, 2023 | 21.86 Mn |
| Mar 31, 2023 | 30.58 Mn |
| Dec 31, 2022 | 27.66 Mn |
| Sep 30, 2022 | 16.64 Mn |
| Jun 30, 2022 | 12.56 Mn |
| Mar 31, 2022 | 40.05 Mn |
| Dec 31, 2021 | 467,434.00 |
| Sep 30, 2021 | 318,126.00 |
| Jun 30, 2021 | 275,512.00 |