The financial highlights also included a significant increase in gross profit, which soared to $48.0 million for the year, nearly eight times higher than the prior year, resulting in a gross margin of 23.6%, up from 13.4% in 2024. In Q4 alone, the company achieved an adjusted EBITDA of $9.8 million, a substantial improvement from a loss of $13.4 million in the same quarter of the previous year. Additionally, adjusted net income turned positive at $3.7 million, compared to a loss of $25.0 million in Q4 2024.
Energy Vault's cash position also strengthened, with cash and cash equivalents climbing to $103.4 million as of December 31, 2025, a 67% increase from the previous quarter and over 300% from the prior year. This robust cash position supports the company's growth initiatives, particularly in its Asset Vault and AI Digital Infrastructure sectors.
The company has contracted, is operational, or is under construction for a total of 540 megawatts (MW) of energy storage capacity, a significant increase from 65 MW just a year ago. This expansion is expected to generate approximately $150 million in annualized EBITDA as these projects come online over the next 18 to 36 months.
Looking ahead, Energy Vault estimates full-year 2026 revenue to be between $225 million and $300 million, projecting continued growth driven by its strategic initiatives and market demand for sustainable energy solutions. The company is also targeting a gross margin of 15-25% for 2026, reflecting its commitment to operational efficiency and profitability.
In summary, Energy Vault's impressive financial performance and strategic outlook position it favorably within the rapidly evolving energy storage market, reinforcing its potential for long-term value creation for shareholders.
