Contract revenue backlog of $920 million, up 112% year-to-date
Q3 2025 Revenue of $33.3 million improved 27x versus the prior year, driven by increased Energy Storage Solutions projects in Australia and first revenue streams from US-based own and operate Asset Vault projects
Q3 2025 GAAP gross profit of $9.0 million up nearly 18x versus the prior year, driven by increased revenue and favorable business mix, resulting in Q3 2025 gross margin of 27.0% and 32.6% year-to date
Q3 2025 Adjusted EBITDA loss narrowed 59% to $6.0 million versus a loss of $14.7 million in the prior year period
Cash as of September 30, 2025 was $61.9 million, up 7% sequentially and in-line with previously guidance
Closed $300 million preferred equity agreement with OIC for the launch of ‘Asset Vault’, Energy Vault’s new build, own and operate business; completed acquisition of 150 MW Sosa BESS project in Texas, the 4th project within Asset Vault for a total of 340 MW under operation and construction
Asset Vault Fund 1 expected to contribute $100-150 million in recurring Adjusted EBITDA by year-end 2029 from 1.5GW+ in attractive projects across high-growth markets in the U.S., Australia, and Europe
Announced agreement with EU Green Energy to deploy 1.8 GWh of BESS in Europe
Announced collaboration with Crusoe, the AI Factory Company, to power and accelerate the deployment of Crusoe SPARK modular data centers, enabled by Energy Vault’s advanced energy storage solutions and AI-augmented energy management software
Reaffirming full year 2025 guidance across all key metrics; well positioned to execute on growth in 2026 and beyond