What is Energy Vault's backlog?

Energy Vault reported $362M of remaining performance obligations at 30 Jun 2026, up 76% from a year earlier and up 154% from the previous quarter. Book-to-bill last quarter: 13.62.

Energy Vault (NRGV) backlog: remaining performance obligations

How much revenue Energy Vault already has under contract, how fast it converts, and who it is with.

Data as of 7 Nov 2026.

Open the interactive Backlog view Energy Vault competitor analysis

Energy Vault reported $362M of remaining performance obligations at 30 Jun 2026, up 76% from a year earlier and up 154% from the previous quarter. Book-to-bill last quarter: 13.62.
Net new backlog added in the latest quarter: $220M.
87% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 8.2% of the backlog.
By backlog size it ranks 343rd among US filers the cockpit tracks.

Energy Vault backlog history

Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).

Amounts in USD. Source: SEC XBRL filings.
Quarter end	Backlog (RPO)	TTM revenue	Coverage	Customer prepayments
30 Jun 2026	$362M	n/a	n/a	$29.7M
31 Mar 2026	$142M	n/a	n/a	$15.4M
31 Dec 2025	$145M	$204M	0.7 yrs	$6.60M
30 Sep 2025	$280M	n/a	n/a	$63.6M
30 Jun 2025	$205M	n/a	n/a	$65.7M
31 Mar 2025	$128M	n/a	n/a	$10.6M
31 Dec 2024	$42.0M	$46.2M	0.9 yrs	$8.90M
30 Sep 2024	$47.0M	$131M	0.4 yrs	$10.4M
30 Jun 2024	$46.5M	$302M	0.2 yrs	$9.90M
31 Mar 2024	$138M	$338M	0.4 yrs	$1.50M
31 Dec 2023	$144M	$342M	0.4 yrs	$6.40M
30 Sep 2023	$256M	n/a	n/a	$6.10M

Questions

What is Energy Vault's backlog?: Energy Vault reported $362M of remaining performance obligations at 30 Jun 2026, up 76% from a year earlier and up 154% from the previous quarter. Book-to-bill last quarter: 13.62.

About these numbers

Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.