Rows of cabinets containing lithium ion batteries supplied by Fluence, a Siemens and AES Company, are seen inside the AES Alamitos Battery Energy Storage System, which provides stored renewable energy to supply electricity during peak demand periods, in Long Beach, California on September 16, 2022.Energy storage leader Fluence is seeing strong demand from the power hungry utility sector and will become profitable this year, CEO Julian Nebreda told CNBC in an interview Friday.Fluence shares jumped 13% this w ...

February 8, 2024 2 1Q FY2024 Earnings Presentation The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements set forth within this presentation, and other statements by management during the earnings call ...

Financial Data and Key Metrics Changes - The company reported revenue of $364 million for Q1 2024, representing a 17% increase from the same quarter last year [18] - Adjusted gross profit was approximately $38 million, resulting in an adjusted gross margin of about 10.5%, compared to 4.2% in Q1 2023 [24] - Adjusted EBITDA for the quarter was negative $18 million, an improvement from negative $26 million in Q1 2023 [24][42] - The signed contract backlog increased by $800 million to $3.7 billion, the highest level in the company's history [18][21] - The pipeline also grew by $400 million to $13.4 billion, supporting growth goals for 2024 and beyond [18] Business Line Data and Key Metrics Changes - The solution business contracted 2.7 gigawatt hours, the services business added 2.3 gigawatt hours, and the digital business added 400 megawatt hours of new contracts [18] - The service and digital businesses, which represent recurring revenue streams, ended the quarter with 3.3 gigawatts of service assets under management [19] - The annual recurring revenue (ARR) from combined services and digital was approximately $64 million, on track for guidance of approximately $80 million by the end of fiscal year 2024 [19] Market Data and Key Metrics Changes - Lithium carbonate prices have declined over 80% over the past 12 months, leading to decreased battery prices and improved customer economics [21] - The company has secured multiyear guaranteed battery capacity from suppliers, covering needs for fiscal 2024 and 2025 [29] Company Strategy and Development Direction - The company aims to begin battery module manufacturing in the summer of 2024, which will meet U.S. domestic content requirements [20][30] - A diverse supply chain strategy is in place, utilizing five battery suppliers across multiple geographies to mitigate disruptions [29] - The company is focused on leveraging digital solutions as a competitive differentiator and margin driver, with strong customer retention [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving fiscal 2024 guidance of revenue between $2.7 billion and $3.3 billion, with 80% of the midpoint covered by backlog [25][27] - The company anticipates continued strong revenue growth in fiscal 2025 of approximately 35% to 40% from fiscal 2024, supported by a robust pipeline [28] - Management highlighted the importance of the Inflation Reduction Act (IRA) in boosting demand for energy storage, with potential tax credits for customers [39][40] Other Important Information - The company became an official signatory member of the UN Global Compact, emphasizing its commitment to sustainability [22] - The Diablo Project in California is performing well despite ongoing legal proceedings related to a contract claim [32] Q&A Session Summary Question: Can you help us understand the geographic profile of the $1.1 billion in orders? - The geographic profile is in line with previous statements, with two-thirds in the U.S. and one-third internationally, at double-digit margins [66] Question: How should we think about gross margin for the rest of the year? - The company is confident in maintaining gross margins within the 10% to 12% range for the full year, with expectations for improvement as revenue scales [91] Question: What is the status of domestic content contracts? - The company has not signed any domestic content contracts yet, but they are in late-stage negotiations, with expectations for revenue from these projects in 2025 [64] Question: How does the company manage freight adjustments related to shipping routes? - All contracts include freight adjustments, ensuring no impact on margins from shipping disruptions [88] Question: What is the company's outlook on order seasonality? - The company does not provide explicit guidance on seasonality but has not observed significant cancellations in their backlog [95][97]

For the quarter ended December 2023, Fluence Energy, Inc. (FLNC) reported revenue of $363.96 million, up 17.2% over the same period last year. EPS came in at -$0.14, compared to -$0.21 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $401.04 million, representing a surprise of -9.25%. The company delivered an EPS surprise of -7.69%, with the consensus EPS estimate being -$0.13.While investors closely watch year-over-year changes in headline numbers -- revenue and earn ...

ARLINGTON, Va., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (NASDAQ:FLNC) ("Fluence" or the "Company"), a leading global pure-play provider of energy storage products and services as well as digital applications for renewables and storage, today announced its results for the three months ended December 31, 2023. Financial Highlights for First Fiscal Quarter ending December 31, 2023 Quarterly revenue of approximately $364.0 million, which represents an increase of 17% from the same quarter last ye ...

Refer to "Note 16 - Supply Chain Financing" for details of the related party guarantees associated with the supply chain financing program. Table of Contents Option Plan As of December 31, 2023, 4,846,089 stock options under the Option Plan remain outstanding with unrecognized stock compensation expense of $0.1 million. Employees, directors, and consultants were granted compensation under the Phantom Equity Incentive Plan (the "Phantom Incentive Plan"). As of September 30, 2021, the Company determined that ...

ARLINGTON, Va., Jan. 31, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (NASDAQ:FLNC) ("Fluence" or the "Company"), announced today that it will report earnings for the first quarter ended December 31, 2023 on Wednesday, February 7th, 2024, after market close. The Company will conduct a teleconference starting at 8:30 a.m. EST on Thursday, February 8th, 2024, to discuss the results. To participate, analysts are required to register by clicking Fluence Energy Q1 Earnings Call Registration Link. Once registere ...

ARLINGTON, Va., Jan. 31, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (Nasdaq: FLNC) (“Fluence” or the “Company”), announced today that it will report earnings for the first quarter ended December 31, 2023 on Wednesday, February 7th, 2024, after market close. The Company will conduct a teleconference starting at 8:30 a.m. EST on Thursday, February 8th, 2024, to discuss the results. To participate, analysts are required to register by clicking Fluence Energy Q1 Earnings Call Registration Link. Once register ...

MELBOURNE, Australia, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. ("Fluence") (NASDAQ:FLNC), a leading global provider of energy storage products, services, and optimisation software for renewables and storage, today announced that the company has been selected by Origin Energy Limited (Origin) to deliver a 300 MW / 650 MWh battery at the Mortlake Power Station in southwest Victoria. The project will use Fluence's Gridstack™ energy storage product with a 15-year service agreement contributing to ...

With peak inflation likely in the rearview mirror for the time being and interest rates expected to come down, 2024 could be a great year to invest in growth stocks. However, some investors may be hesitant to keep their foot on the gas after a rip-roaring 2023 saw many growth stocks surge to new heights.Electric vehicle maker Rivian Automotive (RIVN -2.15%), materials company Hexcel (HXL 0.27%), and energy storage specialist Fluence Energy (FLNC -1.74%) somewhat missed out on the rally by underperforming th ...