Quick Answer
Energy Vault Holdings, Inc. reported R&D Expense of $14.63 million for fiscal year 2025.
Energy Vault Holdings, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $14.63M | -43.7% |
| 2024 | $26.00M | -29.9% |
| 2023 | $37.10M | -12.9% |
| 2022 | $42.60M | +438.5% |
| 2021 | $7.91M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $3.36M | -41.1% | -17.5% |
| June 30, 2025 | $4.07M | -41.4% | +6.5% |
| March 31, 2025 | $3.82M | -45.1% | -33.0% |
| September 30, 2024 | $5.70M | -30.1% | -17.9% |
| June 30, 2024 | $6.95M | -32.0% | -0.2% |
| March 31, 2024 | $6.97M | -37.7% | -14.6% |
| September 30, 2023 | $8.16M | -30.0% | -20.2% |
| June 30, 2023 | $10.22M | +18.4% | -8.6% |
- Energy Vault Holdings, Inc. showed a decrease of -43.7% in R&D Expense compared to the prior fiscal year.
- Over the 2021–2025 period, Energy Vault Holdings, Inc.’s r&d expense has grown by 85.0% (from $7.91 million to $14.63 million).
- The most recent figure is from Energy Vault Holdings, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 18, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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