Sale Of Energy Storage Products was Energy Vault Holdings’s largest product and service line in fiscal 2025, bringing in $588.59M of $604.00M (97%).
| Product and Service | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Sale Of Energy Storage Products | — | $1.02B | $133.78M | $588.59M |
| Build & Transfer Energy Storage Products | $256.91M | — | — | — |
| Licensing Of Intellectual Property | $175.45M | — | — | — |
| Intellectual Property (“Ip”) Licensing | — | — | $345.00K | $9.94M |
| Ip Licensing | — | $2.21M | — | — |
| Operation & Maintenance Services | — | — | $3.27M | $3.85M |
| Other | $5.27M | $1.55M | — | — |
| Software Licensing | — | — | $1.21M | $1.62M |
| Total | $437.63M | $1.02B | $138.60M | $604.00M |
Energy Vault Holdings brought in $604.00M from its four product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 335.8% from $138.60M in fiscal 2024. Sale Of Energy Storage Products was the largest at $588.59M (97.4%), ahead of Intellectual Property (“Ip”) Licensing at $9.94M (1.6%) and Operation & Maintenance Services at $3.85M (0.6%). The remaining line, Software Licensing, brought in $1.62M.
Energy Vault Holdings began breaking out Sale Of Energy Storage Products in fiscal 2023, Intellectual Property (“Ip”) Licensing in fiscal 2024, Operation & Maintenance Services in fiscal 2024 and Software Licensing in fiscal 2024. Energy Vault Holdings stopped reporting Build & Transfer Energy Storage Products ($256.91M in fiscal 2022), Licensing Of Intellectual Property ($175.45M in fiscal 2022), Ip Licensing ($2.21M in fiscal 2023) and one other as separate lines.
Australia was Energy Vault Holdings’s largest region in fiscal 2025, bringing in $372.82M of $611.01M (61%).
| Geography | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| United States | $256.91M | $1.02B | $133.27M | $222.66M |
| Australia | — | — | $2.98M | $372.82M |
| China | $151.55M | $1.43M | — | — |
| Other | $29.17M | — | $2.35M | $15.54M |
| Total | $437.63M | $1.02B | $138.60M | $611.01M |
Energy Vault Holdings brought in $611.01M from its three regions in fiscal 2025, the year ended December 31, 2025. That was up 340.9% from $138.60M in fiscal 2024. Australia was the largest at $372.82M (61.0%), ahead of United States at $222.66M (36.4%) and Other at $15.54M (2.5%).
Compared with fiscal 2024, Australia grew fastest, up 12,427.5% to $372.82M. Every region above 2% of revenue grew.
Energy Vault Holdings began breaking out Australia in fiscal 2024, when it brought in $2.98M. Energy Vault Holdings stopped reporting China as a separate region after fiscal 2023, when it brought in $1.43M.
Energy Vault Holdings (NRGV) reports its revenue by product and service and by geography. In fiscal 2025, Sale Of Energy Storage Products was its largest product and service line, bringing in $588.59M (97.4% of the total), followed by Intellectual Property (“Ip”) Licensing at $9.94M (1.6%).
Sale Of Energy Storage Products was Energy Vault Holdings' largest product and service line in fiscal 2025, bringing in $588.59M, or 97.4% of the $604.00M total across its four product and service lines.
Australia was Energy Vault Holdings' largest region in fiscal 2025, bringing in $372.82M, or 61.0% of the $611.01M total across its three regions.
Among Energy Vault Holdings' regions that make up at least 2% of revenue, Australia grew fastest in fiscal 2025, up 12,427.5% from $2.98M to $372.82M.
Every figure comes from Energy Vault Holdings' annual financial filings, as reported. Each line keeps the name Energy Vault Holdings gives it, and years follow its fiscal calendar.
Energy Vault Holdings' revenue by product and service goes back to fiscal 2022, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.