Energy Vault Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 12, 2024 at 04:05 pm EDT
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Energy Vault Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 118.24 million compared to USD 100.32 million a year ago. Net loss was USD 22.17 million compared to USD 23.28 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.17 a year ago.
For the full year, sales was USD 341.54 million compared to USD 145.88 million a year ago. Net loss was USD 98.44 million compared to USD 78.3 million a year ago. Basic loss per share from continuing operations was USD 0.69 compared to USD 0.64 a year ago.
Energy Vault Holdings, Inc. is engaged in providing sustainable, grid-scale energy storage solutions. The Company develops and deploys utility-scale energy storage solutions. The Company's comprehensive offerings include gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each storage solution is supported by the Companyâs hardware technology-agnostic energy management system software and integration platform. Its technology portfolio delivers customized short-and-long-duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Its solutions include B-Vault, G-Vault, H-Vault, and software solutions. B-Vault is its electrochemical battery energy storage solution that meets short-duration energy storage needs. G-Vault is its gravity energy storage solution that meets long-duration energy storage needs.
ENERGY VAULT HOLDINGS, INC. 
