Energy Vault(NRGV) - 2023 Q4 - Annual Results

Exhibit 99.1 Energy Vault Reports Fourth Quarter and Full Year 2023 Financial Results FY 2023 revenue of $341.5 million, up 134% YoY and 18% QoQ, within annual guidance range Increased cash position to $146 million with no debt, above prior guidance of $132 million from Q3 2023 Reduced quarterly cash Operating Expense run rate by 25-30% through actions taken in Q4 2023, enabling a 2024 reduced quarterly cash OpEx of $13-15 million to accelerate shift to cash flow positive exiting 2024 and FY 2025 FY 2023 gr ...