Energy Vault Holdings (NRGV) Research & Development (2021 - 2026)
Energy Vault Holdings (NRGV) posted Research & Development of $2.55 million for Q2 2026, down 37.5% from $4.07 million a year earlier and down 1.7% from the prior quarter.
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Analysis
Energy Vault Holdings (NRGV) Research & Development (2021 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Research & Development at Energy Vault Holdings was $11.87 million, down 40.6% year-over-year; for FY2025, it came in at $14.64 million, down 43.7% from FY2024.
- Annual Research & Development has declined for three consecutive years, though with a four-year compound annual growth rate of 16.6% (FY2021 to FY2025).
- In prior years, Energy Vault Holdings' Research & Development was $26 million in FY2024 (-29.9%), $37.1 million in FY2023 (-12.9%), $42.61 million in FY2022 (+438.5%) and $7.91 million in FY2021.
- The Q2 2026 figure stands as the lowest quarterly Research & Development since Q3 2021.
- On a year-over-year basis, Research & Development has declined in each of the last 12 quarters, with an average decline of 36.3% over the last eight quarters.
- The strongest year-over-year quarter for Research & Development in the past five years was Q1 2022, with growth of 846.2%; the weakest was Q4 2025, with a decline of 47.1%.
- According to Business Quant data, Research & Development for the three prior quarters was $2.59 million (Q1 2026), $3.38 million (Q4 2025) and $3.36 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.94 Bn | 214.01 Bn | 2.36 Bn | 334.00 Mn |
| 2 | Bloom Energy | 77.11 Bn | 68.94 Bn | 355.57 Mn | 58.87 Mn |
| 3 | First Solar | 18.59 Bn | 9.54 Bn | 605.00 Mn | 76.24 Mn |
| 4 | BWX Technologies | 12.31 Bn | 10.61 Bn | 202.31 Mn | 4.17 Mn |
| 5 | Generac Holdings | 12.11 Bn | 10.94 Bn | 521.81 Mn | 65.78 Mn |
| 6 | Nextpower | 12.00 Bn | 7.89 Bn | 335.85 Mn | 44.51 Mn |
| 7 | EnerSys | 6.46 Bn | 4.66 Bn | 313.36 Mn | - |
| 8 | Enphase Energy | 4.08 Bn | -774.96 Mn | 175.01 Mn | 45.66 Mn |
| 9 | Mirion Technologies | 3.51 Bn | 1.40 Bn | 133.10 Mn | 10.10 Mn |
| 10 | Energy Vault Holdings | 728.76 Mn | 515.32 Mn | 5.38 Mn | 2.55 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.55 Mn |
| Mar 31, 2026 | 2.59 Mn |
| Dec 31, 2025 | 3.38 Mn |
| Sep 30, 2025 | 3.36 Mn |
| Jun 30, 2025 | 4.07 Mn |
| Mar 31, 2025 | 3.82 Mn |
| Dec 31, 2024 | 6.38 Mn |
| Sep 30, 2024 | 5.70 Mn |
| Jun 30, 2024 | 6.95 Mn |
| Mar 31, 2024 | 6.97 Mn |
| Dec 31, 2023 | 7.55 Mn |
| Sep 30, 2023 | 8.16 Mn |
| Jun 30, 2023 | 10.22 Mn |
| Mar 31, 2023 | 11.18 Mn |
| Dec 31, 2022 | 13.84 Mn |
| Sep 30, 2022 | 11.66 Mn |
| Jun 30, 2022 | 8.63 Mn |
| Mar 31, 2022 | 9.66 Mn |
| Dec 31, 2021 | 2.99 Mn |
| Sep 30, 2021 | 1.70 Mn |
API Access
Energy Vault Holdings Research & Development 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=research-and-development&ticker=NRGV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=NRGV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();