tifonimages/iStock via Getty Images Energy Vault Holdings, Inc.'s ( NRGV ) situation has changed and is even better than I was expecting. When I first analyzed the stock, we had Q3 2025 results, and the company was getting out of the startup phase. Revenue then jumped more than 2700% YoY; the number might seem high, but it was just low comparable. Backlog reached $920 million, and the Asset Vault ...
tifonimages/iStock via Getty Images Energy Vault Holdings, Inc.'s ( NRGV ) situation has changed and is even better than I was expecting. When I first analyzed the stock, we had Q3 2025 results, and the company was getting out of the startup phase. Revenue then jumped more than 2700% YoY; the number might seem high, but it was just low comparable. Backlog reached $920 million, and the Asset Vault platform was introduced as the primary step towards a recurring revenue model. However, at the time, it was just a transition story. The majority of my thesis was built on whether the management will be able to make this happen. We did not have profitability, and execution risk was very high. Now I think we are in the execution phase. Q4 showed the first positive EBITDA, backlog jumped to $1.3 billion, and, most importantly, Asset Vault is generating actual cash flows. What Actually Changed? Looking at 2025 results , the first thing that comes to my mind is potential. Annual revenue reached $203.7 million, that is 340% growth, and Q4 alone generated $153 million, numbers that I believe are good for this company. Here I think it is important to understand the context because this growth is not organic in the classical sense. The majority of this jump comes from the recognition of delayed projects. Also, we can add that it comes from the company starting to work on contracts normally. In other words, execution, in my opinion, seems to be catching up. I believe that the margins are good as well. Gross margin was 23.6%, and it surpassed guidance of 14-16%. This shows not only a better project mix, but that Asset Vault model is starting to show an effect on profitability. For the first time in Q4, EBITDA was positive ($9.8 million), but sadly, the year still ended up negatively. I believe that the trend is clear: operating leverage is finally materializing. Revenue is growing faster than costs, and I actually think that we have the first real signal that the model could work. Ba...
pablorebo1984/iStock Editorial via Getty Images Willis Lease Finance Corporation ( WLFC ) has gained 74% since my last report , sharply outperforming the S&P 500’s 2.7% gain. The stock price of the aero engine leasing specialist has now increased nearly 380% since I initiated coverage in 2023 . We also note that the stock price is substantially higher than my base case price target of $167.17, and...
pablorebo1984/iStock Editorial via Getty Images Willis Lease Finance Corporation ( WLFC ) has gained 74% since my last report , sharply outperforming the S&P 500’s 2.7% gain. The stock price of the aero engine leasing specialist has now increased nearly 380% since I initiated coverage in 2023 . We also note that the stock price is substantially higher than my base case price target of $167.17, and that warrants a review of the rating for Willis Lease Finance. Engine Leasing Is A Good Business To Be In Willis Lease Finance is a company specializing in the lease and resale of engines and parts. The company’s selling point is that it provides airlines with replacement engines when engines are due for maintenance. This reduces downtime for airlines. The company also provides spare parts, and the attractive characteristic of life-limited parts, or LLPs, is that prices tend to escalate at a rate higher than inflation. Aero engines are the prominent part in value retention for airplanes, and so being an engine lessor is a very good business to be in. The company started off with some vintage CFM and CF6 engines, and in the years after, it scaled the portfolio to hundreds of engines with the asset mix evolving towards a mix of the CFM56 and IAE V2500 aero engines, which power the Boeing 737 Next Generation and Airbus A320, and GE90 and Trent engines used on the Boeing 777 and Airbus A330. In recent years, the company has pushed another round of portfolio transformation, adding the LEAP engines for the Boeing 737 MAX and Airbus A320neo as well as the PW1000G for the A320neo family and the GEnx engines used primarily on the Boeing 787. So, the company did not only scale the business; they also future-proofed it, which is extremely important for lessors. Since 2021, the company has grown its assets from $2.5 billion to nearly $4 billion while growing revenues by 28.3% and EBITDA by 16.6%. As the company scales and transforms its revenue streams, the EBITDA growth can fall behi...
IonQ (NYSE:IONQ), a quantum computing developer, closed Wednesday at $43.25, up 20.95%. The stock jumped after a slew of positive announcements, including a new government contract and a technical breakthrough.Trading volume reached 85.2 million shares, about 285% above its three
IonQ (NYSE:IONQ), a quantum computing developer, closed Wednesday at $43.25, up 20.95%. The stock jumped after a slew of positive announcements, including a new government contract and a technical breakthrough.Trading volume reached 85.2 million shares, about 285% above its three
Richard L. Gelfond, Chief Executive Officer (CEO) of IMAX Corporation (NYSE:IMAX) , reported the direct sale of 135,046 common shares for total proceeds of approximately $5.11 million on April 10, 2026, as disclosed in this SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($37.82); post-transaction value based on April 10, 2026, market close ($37.84). * 1-y...
Richard L. Gelfond, Chief Executive Officer (CEO) of IMAX Corporation (NYSE:IMAX) , reported the direct sale of 135,046 common shares for total proceeds of approximately $5.11 million on April 10, 2026, as disclosed in this SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($37.82); post-transaction value based on April 10, 2026, market close ($37.84). * 1-year performance calculated using April 10, 2026, as the reference date. Continue reading
May WTI crude oil (CLK26 ) on Wednesday closed down -0.05 (-0.05%), and May RBOB gasoline (RBK26 ) closed up +0.0297 (+0.98%). Crude oil and gasoline prices settled mixed on Wednesday, with crude falling to a 3-week low. Crude prices came under pressure on Wednesday after the AP reported that...
May WTI crude oil (CLK26 ) on Wednesday closed down -0.05 (-0.05%), and May RBOB gasoline (RBK26 ) closed up +0.0297 (+0.98%). Crude oil and gasoline prices settled mixed on Wednesday, with crude falling to a 3-week low. Crude prices came under pressure on Wednesday after the AP reported that...
Eos Energy Enterprises (NASDAQ:EOSE) , a designer and manufacturer of zinc-based energy storage solutions, closed at $7.08, up 12.03%. The stock moved higher after it announced a joint development agreement with TURBINE-X to “develop and deploy private power infrastructure for AI.” Looking ahead, investors will continue watching for long-duration storage demand from data centers. Trading volume re...
Eos Energy Enterprises (NASDAQ:EOSE) , a designer and manufacturer of zinc-based energy storage solutions, closed at $7.08, up 12.03%. The stock moved higher after it announced a joint development agreement with TURBINE-X to “develop and deploy private power infrastructure for AI.” Looking ahead, investors will continue watching for long-duration storage demand from data centers. Trading volume reached 54 million shares, coming in about 116% above its three-month average of 25 million shares. The company IPO'd in 2020 and has fallen 30% since going public. The S&P 500 rose 0.79% on Wednesday to 7,022, while the Nasdaq Composite gained 1.59% to finish at 24,016. Among electrical equipment & parts peers, EnerSys closed at $194.00, down 2.48%, and Plug Power ended at $2.93, slipping 0.34%, highlighting mixed sentiment across power names. One week after reporting better-than-expected preliminary Q1 earnings, Eos Energy announced a major partnership with TURBINE-X to supply power infrastructure purpose-built for AI. Eos will supply TURBINE-X with 2 GWh of energy systems over the next three years, with the first deployments starting in 2027. Continue reading
Researchers find increase in whale deaths in the Bay, largely because of collisions with vessels on busy shipping route Gray whales have historically been a rare sight in the San Francisco Bay. They trek from the warm lagoons of Mexico’s Baja California over 10,000 miles north to the Arctic region to feast on shrimp-like animals during the summers, seldom stopping in the busy shipping corridor for...
Researchers find increase in whale deaths in the Bay, largely because of collisions with vessels on busy shipping route Gray whales have historically been a rare sight in the San Francisco Bay. They trek from the warm lagoons of Mexico’s Baja California over 10,000 miles north to the Arctic region to feast on shrimp-like animals during the summers, seldom stopping in the busy shipping corridor for prolonged periods. But in recent years, that story has changed in a dire way. A new study, published this week in the journal Frontiers in Marine Science, has found that gray whales in the Bay have been dying at alarming rates, largely due to collisions with vessels. Continue reading...
Supreme Court Justice Sonia Sotomayor issued a public apology for criticism she levied toward colleague Brett Kavanaugh during a speaking appearance last week. “At a recent appearance at the University of Kansas School of Law, I referred to a disagreement with one of my colleagues in a prior case, but I made remarks that were inappropriate,” Sotomayor said in a statement released by the court Wedn...
Supreme Court Justice Sonia Sotomayor issued a public apology for criticism she levied toward colleague Brett Kavanaugh during a speaking appearance last week. “At a recent appearance at the University of Kansas School of Law, I referred to a disagreement with one of my colleagues in a prior case, but I made remarks that were inappropriate,” Sotomayor said in a statement released by the court Wednesday. “I regret my hurtful comments. I have apologized to my colleague.” Sotomayor criticized Kavanaugh’s concurrence in an emergency decision by the court allowing immigration stops to resume in L.A. Sotomayor said Kavanaugh, the son of two lawyers, did not understand the impact of such stops and “probably doesn’t really know any person who works by the hour.” To contact the reporter on this story: Jordan Fischer at jfischer@bloombergindustry.com To contact the editors responsible for this story: Seth Stern at sstern@bloomberglaw.com ; John Crawley at jcrawley@bloomberglaw.com