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      "text": "Q2 2023 YTD revenue and gross profit primarily due to advancement on the Company's BESS projects.\nOPEX (excluding stock-based compensation) increased $17.3M versus 2022\nStock-based compensation was $23.8M in 2023 up from $15.9M in 2022.\nSales & Marketing (ex-stock comp) increased $2.1M driven by increased personnel costs due to increased headcount.\nR&D (ex-stock comp) increased $5.1M driven by increased personnel costs due to increased headcount.\nG&A (ex-stock comp) increased $10.0M driven by increased personnel costs due to increased headcount, legal and professional fees, software costs, and insurance expenses.\nIncrease in operating loss of $60.1M versus 2022 driven by a decrease in licensing revenue and an increase in operating costs. Licensing revenue in 2022 did not have any associated cost of revenue.",
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      "text": "© 2023 ENERGY VAULT HOLDINGS INC. ALL RIGHTS RESERVED",
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