Company Overview and Market Position - The company has a limited operating history and has only completed three Battery Energy Storage Systems (BESSs) and one Gravity Energy Storage System (GESS) to date, which may affect investment decisions [89]. - The company expects future growth to be driven by rising demand for clean electric power solutions and a rapidly growing energy storage market, but predicting future revenues is challenging due to limited operating history [90]. - The company relies on a limited number of customers for the majority of its revenue, and the loss of any significant customer could substantially reduce revenue and impact liquidity [96]. - The company’s business model depends on the acceptance of its technology by customers and the successful commercialization of its energy storage systems [94]. - The company’s growth strategy includes establishing strategic relationships with various market players, but the success of these initiatives is uncertain [115]. - The growth of the energy storage market is dependent on the adoption of renewable energy sources and government regulations [141]. - Competition in the energy storage industry is intensifying, with several established companies having more resources and advanced technologies [145]. - The company’s technology must remain cost-effective compared to competitors to maintain its market position and profitability [144]. Financial Performance and Projections - The company has incurred significant expenses and expects to continue to do so, with a history of losses and uncertainty regarding future profitability [94]. - The company anticipates increased costs associated with transitioning to lower emissions technologies and potential risks related to the viability of these technologies [160]. - As of December 31, 2024, the company had accumulated deficits of $383.8 million and net losses of $135.8 million for the year ended December 31, 2024 [170]. - The company expects to continue incurring significant operating expenses without generating sufficient revenues, indicating a capital-intensive business model [171]. - The total backlog as of December 31, 2024, was $433.9 million, representing contracted but unrecognized revenue [180]. - Bookings for the year ended December 31, 2024, totaled $223.9 million, reflecting the total aggregate contract value from customer contracts signed during the period [181]. - The developed pipeline as of December 31, 2024, amounted to $2.1 billion, indicating potential revenue from projects where the company is in advanced negotiations [182]. Operational Risks and Challenges - The company faces risks associated with operational performance and costs, including unexpected malfunctions and the need for repairs, which could adversely affect business [101]. - The company’s projections regarding construction costs, timelines, and future revenues are highly sensitive to inaccuracies, which could materially affect profitability [92]. - The company faces risks associated with construction delays and cost overruns, which could impair project development and financial performance [121]. - The successful installation of energy storage systems is dependent on timely interconnection with local electric grids, which may face delays affecting revenue recognition [122]. - The lengthy sales and installation cycle for energy storage systems could lead to significant fluctuations in operating results from period to period [174]. - The company faces risks related to customer cancellations and delays, which could materially affect its business and financial condition [185]. Supply Chain and Production - The company’s energy storage systems have significant upfront costs, necessitating third-party financing for both the company and its customers [103]. - The company relies on a limited number of third-party suppliers for components, and any failure in their delivery could lead to installation delays and reputational damage [117]. - The company relies on suppliers and subcontractors for manufacturing components of its energy storage systems, which may lead to potential liabilities and recovery challenges [216]. Regulatory and Compliance Issues - The company is subject to legal and regulatory restrictions that could increase compliance costs and expose it to litigation risks [130]. - Increasing scrutiny of ESG matters could adversely impact the company's reputation, share price, and access to capital [131]. - The company may face increased regulatory requirements regarding environmental impacts, potentially leading to higher compliance costs [161]. - The company is subject to various environmental, health, and safety laws that could result in significant compliance costs and liabilities [226]. - Any actual or perceived failure to comply with privacy and data protection laws could subject the company to liability and damage its reputation [231]. - The company may face increased privacy and security obligations due to state and federal laws, such as the California Consumer Privacy Act [233]. Intellectual Property and Cybersecurity - The company may face challenges in protecting its intellectual property (IP) rights, which could adversely affect its growth and success [193]. - IP rights may not be as strongly enforced outside the United States, leading to potential revenue loss due to competitors copying designs and technology [194]. - The company's pending patent applications may not result in issued patents, hindering its ability to prevent competitors from selling similar products [195]. - The company may face third-party claims of IP infringement, which could result in substantial legal costs and harm its reputation [198]. - Cybersecurity risks threaten the confidentiality and integrity of the company's IT systems, which are critical to its operations [204]. - The company has experienced rapid growth, which may strain its IT systems and increase vulnerability to data security breaches [208]. Market and Economic Conditions - Economic uncertainty, including inflation and interest rate fluctuations, has negatively impacted demand for the company's products [154]. - Fluctuations in fuel prices could decrease incentives for transitioning to renewable energy, impacting demand for the company's products [162]. - The U.S. has implemented a 25% additional tariff on imports from Canada and a 20% additional tariff on imports from China, which may negatively affect the company's financial condition [221]. - The company may face reduced revenue due to the potential reduction, modification, or elimination of government economic incentives such as rebates and tax credits [223]. - Inflation could adversely impact operations due to rising material, labor, and construction costs, potentially affecting financial results [388]. Corporate Governance and Structure - As of December 31, 2024, executive officers, directors, and their affiliates beneficially own approximately 29.7% of the outstanding common stock, allowing significant control over corporate decisions [242]. - The company qualifies as an "emerging growth company" and intends to take advantage of exemptions from various reporting requirements until it exceeds a market value of $700 million or total annual gross revenue of $1.235 billion [243]. - Increased legal, accounting, and administrative costs are expected as a public company, which could negatively impact financial condition and results of operations [247]. - The company may issue additional shares or other equity securities without stockholder approval, potentially diluting ownership interests [252]. - The trading price of the company's common stock is likely to be volatile, influenced by various market and operational factors [253]. - Activist stockholders may attempt to effect changes that could adversely affect corporate governance and financial condition [256]. - Anti-takeover provisions may delay or prevent beneficial acquisitions and management changes, potentially limiting stockholder influence [257]. - The company is governed by Section 203 of the DGCL, which restricts individuals owning 15% or more of voting stock from merging for three years [258].

A downtrend has been apparent in Energy Vault Holdings, Inc. (NRGV) lately with too much selling pressure. The stock has declined 33.9% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical ind ...

Energy Vault Holdings, Inc. (NYSE:NRGV) Q4 2024 Earnings Conference Call March 17, 2025 4:30 PM ET Company Participants Michael Beer - Chief Financial Officer and Head of Corporate Services Robert Piconi - Chairman and Chief Executive Officer Conference Call Participants Thomas Boyes - Cowen Chris Ellinghaus - Siebert Williams Shank Operator Greetings and welcome to Energy Vault's Fourth Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will ...

Core Insights - Energy Vault Holdings, Inc. reported a quarterly loss of $0.35 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.14, marking an earnings surprise of -150% [1] - The company generated revenues of $33.47 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 14.07% and down from $118.24 million year-over-year [2] - Energy Vault shares have declined approximately 49.6% year-to-date, significantly underperforming the S&P 500's decline of -4.1% [3] Earnings Outlook - The company's earnings outlook is mixed, with the current consensus EPS estimate for the upcoming quarter at -$0.11 on revenues of $36.4 million, and for the current fiscal year at -$0.41 on revenues of $261.9 million [7] - The Zacks Rank for Energy Vault is currently 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] Industry Context - The Alternative Energy - Other industry, to which Energy Vault belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

F O U R T H Q U A R T E R 2 0 2 4 FINANCIAL RESULTS © 2024 ENERGY VAULT, ALL RIGHTS RESERVED | Confidential FOUO (For Official Use Only) - PROPRIETARY INFORMATION OF ENERGY VAULT, INC 1 Disclaimer Forward-Looking Statements This presentation includes forward-looking statements that reflect the Company's current views with respect to, among other things, the Company's operations and financial performance. Forward-looking statements include information concerning possible or assumed future results of operatio ...

Exhibit 99.1 Q4 2024 GAAP gross margin of 7.7% doubled versus the 3.4% a year ago reflecting mix of hardware deliveries in the quarter; Full Year 2024 GAAP Gross Margins of 13.4% improved significantly versus the 5.1% recorded a year ago reflecting strong execution and supply chain ef iciency Project financing for the Calistoga Green Hydrogen project for PG&E received a binding funding commitment earlier in March inclusive of the tax credit with expected closure in April 2025, returning ~$28 million to the ...

Financial Data and Key Metrics - Revenue backlog grew by over 33% in Q3 2024, supporting future revenue ramp in 2025 and beyond [16] - Gross margin for Q3 2024 was 40.3%, up from 4.2% a year ago, driven by favorable revenue mix from software and services [34] - Year-to-date gross margin is 28.3%, above the guided range of 15% to 25% for full-year 2024 [34] - Adjusted operating expense was $15.2 million in Q3, down 13% YoY and 7% QoQ, reflecting organizational realignment [35] - Adjusted EBITDA was negative $14.7 million in Q3, improving 5% QoQ but weaker YoY due to project timing and lower gross profit [35] - Cash and cash equivalents stood at $78 million as of September 30, 2024, down from $113 million in Q2 2024 [37] Business Line Performance - The company announced new projects in the US, including a Gridmatic offtake agreement for a Texas battery site and a new project with Jupiter Power [17] - The company is transitioning to a build, own, and operate strategy, which is expected to deliver long-term revenue streams with attractive margins [18] - The company is focusing on reducing capital expenditure and operating expenses through optimal design and maintenance of storage assets [18] - The company is leveraging its expertise in software development and multi-technology battery storage integration to enhance execution and reduce project timelines [10] Market Performance - The Australian market is a key focus, with a pipeline of projects exceeding 5 gigawatt hours and plans to double the team size and triple investment in the region [15] - The company announced a 1 gigawatt hour project in New South Wales, Australia, in partnership with EnerVest [15] - The company is also expanding in the US, with projects in Texas and California, including the Calistoga Resiliency Center, the largest hybrid green hydrogen energy storage system in the world [10][17] Strategic Direction and Industry Competition - The company is focusing on long-term value creation by retaining ownership of cash-generative storage assets, such as the Cross Trails battery energy storage project in Texas [31] - The company is leveraging its expertise in energy storage to address grid resiliency and meet rising energy demand, particularly from data center expansions [6][7] - The company is innovating in gravity energy storage, with the Rudong project in China achieving 80% to 85% round-trip efficiency, a significant milestone in long-duration energy storage [23][24] Management Commentary on Operating Environment and Future Outlook - Management highlighted the resilience of the team in navigating capital market volatility and geopolitical uncertainties [5][6] - The company reaffirmed its annual guidance, tightening the range as it approaches the end of the year, with strong shipment and revenue recognition expected in Q4 [28][29] - Management emphasized the importance of the build, own, and operate strategy for long-term shareholder value, with expected unlevered double-digit IRRs and EBITDA margins of 70% to 80% [40][43] Other Important Information - The company is working with Jefferies on project financing for the Calistoga and Cross Trails projects, expecting to bring $60 million to $80 million in cash back onto the balance sheet [39] - The company is exploring non-dilutive financing options, including partnerships with strategic investors, to fund future projects [69] - The company is recognized by Time Magazine as one of the best inventions in 2024 for its gravity energy storage technology [25] Q&A Session Summary Question: Ownership Opportunities and Financing - The company is looking to add significant capacity to its balance sheet in 2025 and 2026, with opportunities in the hundreds of millions of dollars, leveraging its reputation for execution and positive unit economics [52] - The company is considering both immediate revenue recognition through EPC projects and long-term value creation through owned and operated projects, depending on the best interest of shareholders [53][55] Question: 2024 Guidance and Quarterly Revenue Progression - The company expects Q4 revenue to be at the lower end of the guidance range, with potential upside from expedited shipments and revenue recognition [58][59] - The company is transitioning to a more predictable revenue model with long-term offtake agreements, aiming for annualized EBITDA of $50 million to $100 million over the next 12 to 24 months [61][62] Question: Snyder Project Adjustments - The Snyder project has been expanded to include multiple gravity technologies (EVx, EVy, and modular pumped hydro) and will serve as a demonstration site for the company's latest innovations [65][66] Question: Battery Storage Technology Improvements - The company is focusing on achieving higher energy density and safety in battery storage projects, leveraging its expertise in civil and structural engineering [74][75] Question: Rudong Gravity Storage Project Efficiency - The Rudong project in China has achieved 82% to 83% round-trip efficiency, with future iterations expected to be customized by region, potentially improving efficiency and reducing timelines [78]

Energy Vault Holdings, Inc. (NRGV) came out with a quarterly loss of $0.18 per share versus the Zacks Consensus Estimate of a loss of $0.15. This compares to loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -20%. A quarter ago, it was expected that this company would post a loss of $0.11 per share when it actually produced a loss of $0.18, delivering a surprise of -63.64%.Over the last four quarters, the company h ...

Table of Contents ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share NRGV New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES E ...

Revenue and Financial Performance - Revenue backlog increased by 33% quarter-over-quarter to $350 million, driven by new contracts in the U.S. and Australia[1] - Total revenue for the three months ended September 30, 2024, was $1,199 thousand, a significant decrease from $172,205 thousand in the same period of 2023[15] - Gross profit for the nine months ended September 30, 2024, was $3,600 thousand, down from $13,514 thousand in the prior year[15] - The company anticipates full-year 2024 guidance for revenue, gross margin, and adjusted EBITDA to be within the mid to low end of the range due to timing of equipment deliveries[3] Operating Expenses and Losses - Operating expenses improved to $27.6 million in Q3 2024, with adjusted operating expenses of $15.2 million, reflecting a 13% year-over-year and 7% quarter-over-quarter improvement[3] - GAAP net loss for the quarter was $(26.6) million, partially offset by lower operating expenses compared to prior periods[3] - Net loss attributable to Energy Vault Holdings, Inc. for the three months ended September 30, 2024, was $26,593 thousand, compared to a net loss of $18,942 thousand in the same period of 2023[15] - Adjusted EBITDA for the nine months ended September 30, 2024, was $(44,508), compared to $(47,062) in 2023, an improvement of 5.5%[25] Cash and Assets - Total cash and cash equivalents stood at $77.7 million with no debt as of September 30, 2024[3] - Cash and cash equivalents at the end of the period were $51,124 thousand, down from $74,236 thousand at the end of September 30, 2023[17] - Total current assets decreased to $131,668 thousand as of September 30, 2024, from $279,582 thousand as of December 31, 2023[13] - The company had total assets of $252,858 thousand as of September 30, 2024, compared to $340,753 thousand as of December 31, 2023[13] Research and Development - Research and development expenses for the nine months ended September 30, 2024, were $19,621 thousand, down from $29,552 thousand in the prior year[15] - GAAP R&D expenses for Q3 2024 were $5,704, down from $8,156 in Q3 2023, representing a decrease of 30.1%[21] - Non-GAAP adjusted R&D expenses for the nine months ended September 30, 2024, were $12,591, compared to $20,720 for the same period in 2023, a decrease of 39.3%[21] General and Administrative Expenses - GAAP G&A expenses for Q3 2024 were $17,270, an increase of 9.2% from $15,810 in Q3 2023[22] - Adjusted G&A expenses (non-GAAP) for the nine months ended September 30, 2024, were $28,085, down from $31,772 in 2023, a decrease of 11.0%[22] Project Development and Strategy - The developed pipeline of projects improved by 11% quarter-over-quarter to 10.8 GWh, stable at $2.7 billion[2] - Energy Vault is executing a growth strategy in Australia with multiple projects under construction and awarded, including a 1 GWh project in New South Wales[4] - The company expects to retain ownership of approximately $100 million in storage assets instead of generating revenue through sales in 2024[3] Efficiency and Performance Metrics - GAAP gross margin for Q3 2024 was 40.3%, with a gross profit of $0.5 million, attributed to higher margin software and service revenue[2] - The EVx Gravity Energy Storage System achieved a Round Trip Efficiency (RTE) of approximately 83%, ranking among the highest in long-duration energy storage technologies[4] Credit Losses - The company reported a provision for credit losses of $1,861 in Q3 2024, compared to $(5) in Q3 2023[22]