Energy Vault's Q1 2026: Soaring Revenue, Exploding Backlog

Energy Vaults Q1 2026 earnings are impressive, with revenue surging 150% to $21.9M, driven by storage projects and early asset wins. Backlog skyrocketed to $1.35B, more than doubling year-over-year, with 80% in their own-and-operate model. Megawatts under management doubled to over 1GWh, and cash pile reached $117M post a $150M raise. The shift to infrastructure player, especially for AI data centers, is boosting valuations. Analysts expect $65M EBITDA run-rate within 12-18 months from powered land and shell deals. Energy Vault secured an 850MW portfolio in Japan, with 350MW closing this quarter, plus Texas and Swiss projects. Recurring EBITDA visibility now tops $180M annually, beating plans, as AI demand drives power as the bottleneck. Guidance for $225-300M revenue and 15-25% margins sets Energy Vault up for global scaling and reliable power in AI and beyond. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/bf59d87438488016