Revenue and Financial Performance - Record revenue for fiscal year 2024 of approximately $2.7 billion, a 22% increase from fiscal year 2023, and Q4 revenue of approximately $1.2 billion, an 82% increase from the same quarter last year[4] - Total revenue for fiscal year 2024 reached $2,698,562 thousand, a 21.7% increase from $2,217,978 thousand in 2023[35] - Revenue for the three months ended September 2024 was $1,228,148 thousand, an 82.5% increase from $672,982 thousand in the same period of 2023[38] - Total revenue for the three months ended September 2024 was $1.23 billion, an 82% increase compared to $673 million in the same period in 2023[66] - The company achieved its highest ever revenue and profitability in 2024, with a backlog of $4.5 billion, driven by strong demand for battery energy storage solutions, particularly in the U.S. market[12] Profitability and Margins - GAAP gross profit margin improved to approximately 12.6% for fiscal year 2024 and 12.8% for Q4, compared to 6.4% and 11.3% in the previous year and quarter, respectively[5] - Gross profit for fiscal year 2024 was $341,080 thousand, a 142% increase from $140,955 thousand in 2023[35] - Gross profit margin for the three months ended September 2024 was 12.8%, up from 11.3% in the same period in 2023[66] Net Income and Earnings - Net income of approximately $30.4 million for fiscal year 2024 and $67.7 million for Q4, compared to a net loss of $104.8 million and net income of $4.8 million in the previous year and quarter, respectively[6] - Net income attributable to Fluence Energy, Inc. for fiscal year 2024 was $22,716 thousand, a significant improvement from a loss of $69,620 thousand in 2023[35] - Net income attributable to Fluence Energy, Inc. for the three months ended September 2024 was $47,843 thousand, compared to $3,229 thousand in the same period of 2023[38] - Net income for the fiscal year ended September 30, 2024, was $30.367 million, a significant improvement from a loss of $104.818 million in 2023 and $289.177 million in 2022[43] - Net income for the three months ended September 2024 was $67.7 million, a 1,306% increase compared to $4.8 million in the same period in 2023[66] Adjusted EBITDA - Adjusted EBITDA of approximately $78.1 million for fiscal year 2024 and $86.9 million for Q4, compared to negative $61.4 million and $19.8 million in the previous year and quarter, respectively[7] - Adjusted EBITDA for the three months ended September 2024 was $86.9 million, a 338% increase compared to $19.8 million in the same period in 2023[66] Cash and Liquidity - Total cash of approximately $518.7 million as of September 30, 2024, an increase of $56.0 million from September 30, 2023[8] - Cash and cash equivalents increased to $448.7 million in September 2024 from $345.9 million in September 2023, reflecting a 29.7% growth[32] - Cash, cash equivalents, and restricted cash increased to $518.706 million at the end of 2024, up from $462.731 million in 2023[45] - Net cash provided by operating activities was $79.685 million in 2024, a significant improvement from a net cash used in operating activities of $111.927 million in 2023[43] - Free Cash Flow for the fiscal year ended September 2024 was $71.6 million, a 162% increase compared to $(114.9) million in the same period in 2023[68] Backlog and Order Intake - Quarterly order intake of approximately $1.2 billion, compared to $737 million for the same quarter last year, with backlog increasing to $4.5 billion as of September 30, 2024, from $2.9 billion a year ago[8] - Order intake for energy storage products in the fiscal year ended September 30, 2024, was 5.2 GW, a 136.4% increase from 2.2 GW in 2023[52] - Contracted backlog for energy storage products grew by 63.0% to 7.5 GW in 2024, compared to 4.6 GW in 2023[52] - Contracted backlog for digital contracts rose by 55.9% to 10.6 GW in 2024, up from 6.8 GW in 2023[52] - Order intake (Contracted) represents new energy storage, service, and digital contracts, providing visibility into future revenue and sales effectiveness[58] Pipeline and Future Growth - Pipeline for energy storage products expanded by 111.5% to 25.8 GW in 2024, up from 12.2 GW in 2023[52] - Pipeline for digital contracts surged by 164.3% to 64.5 GW in 2024, compared to 24.4 GW in 2023[52] - Pipeline represents uncontracted potential revenue with a reasonable likelihood of execution within 24 months, monitored for anticipated growth[59] - Pipeline may not generate margins equal to historical operating results, and there is no guarantee it will result in actual revenue as anticipated[60] Assets and Liabilities - Total current assets grew to $1.68 billion in September 2024 from $1.19 billion in September 2023, a 40.6% increase[32] - Total assets grew to $1.9 billion in September 2024 from $1.35 billion in September 2023, a 40.7% increase[32] - Total liabilities increased to $1.3 billion in September 2024 from $795.8 million in September 2023, a 62.7% rise[32] - Total stockholders' equity grew to $607.1 million in September 2024 from $556.3 million in September 2023, a 9.1% increase[33] - Accounts payable surged to $436.7 million in September 2024 from $65.4 million in September 2023, a 567.8% increase[32] - Inventory, net, decreased to $182.6 million in September 2024 from $224.9 million in September 2023, a 18.8% decline[32] - Deferred revenue remained relatively stable at $274.5 million in September 2024 compared to $273.2 million in September 2023[32] - Intangible assets, net, increased to $60.0 million in September 2024 from $55.8 million in September 2023, a 7.6% rise[32] Expenses and Investments - Research and development expenses for fiscal year 2024 were $66,195 thousand, slightly lower than $66,307 thousand in 2023[35] - Sales and marketing expenses for fiscal year 2024 increased to $63,842 thousand, up 55.3% from $41,114 thousand in 2023[35] Comprehensive Income and Earnings Per Share - Total comprehensive income attributable to Fluence Energy, Inc. for fiscal year 2024 was $17,674 thousand, compared to a loss of $69,202 thousand in 2023[40] - Basic income per share of Class A common stock for fiscal year 2024 was $0.18, compared to a loss of $0.60 per share in 2023[35] - Total other comprehensive loss for fiscal year 2024 was $7,085 thousand, compared to a gain of $601 thousand in 2023[40] Energy Storage and Digital Contracts - Energy storage products deployed increased by 66.7% to 5.0 GW in 2024, up from 3.0 GW in 2023[52] - Assets under management for service contracts increased by 53.6% to 4.3 GW in 2024, compared to 2.8 GW in 2023[52] - Contracted backlog may not generate margins equal to historical operating results, and there is no guarantee it will result in actual revenue as anticipated[57] - Annual Recurring Revenue (ARR) represents net annualized contracted value, excluding non-recurring revenue, providing visibility to future revenue[61] - Annual recurring revenue (ARR) expected to reach approximately $145 million by the end of fiscal year 2025[10] Guidance and Future Outlook - Fiscal year 2025 revenue guidance of approximately $3.6 billion to $4.4 billion, with a midpoint of $4.0 billion, and 65% of the midpoint covered by current backlog[10] - Adjusted EBITDA guidance for fiscal year 2025 of approximately $160 million to $200 million, with a midpoint of $180 million[10]

Core Insights - Fluence Energy, Inc. reported record revenue of approximately $2.7 billion for fiscal year 2024, marking a 22% increase from fiscal year 2023, and approximately $1.2 billion for the fourth quarter, representing an 82% increase year-over-year [3][7] - The company achieved a net income of approximately $30.4 million for fiscal year 2024, a significant turnaround from a net loss of approximately $104.8 million in fiscal year 2023 [3][25] - Fluence's backlog increased to approximately $4.5 billion as of September 30, 2024, compared to approximately $2.9 billion a year earlier, indicating strong market confidence in its energy storage solutions [3][7] Fiscal Year 2024 Financial Highlights - Revenue for fiscal year 2024 was approximately $2.7 billion, with a gross profit margin of approximately 12.6% [3] - Adjusted EBITDA for fiscal year 2024 was approximately $78.1 million, a significant improvement from approximately negative $61.4 million in fiscal year 2023 [3] - Quarterly order intake reached approximately $1.2 billion, up from approximately $737 million in the same quarter last year [3] Financial Position - Total cash as of September 30, 2024, was approximately $518.7 million, an increase of approximately $56.0 million from the previous year [4] - Net cash provided by operating activities was approximately $79.7 million, compared to a negative $111.9 million for fiscal year 2023 [4] - Free cash flow for fiscal year 2024 was approximately $71.6 million, a recovery from a negative $114.9 million in fiscal year 2023 [4] Fiscal Year 2025 Outlook - The company projects revenue for fiscal year 2025 to be between approximately $3.6 billion and $4.4 billion, with a midpoint of $4.0 billion [5] - Adjusted EBITDA is expected to be between approximately $160 million and $200 million, with a midpoint of $180 million [5] - Annual recurring revenue (ARR) is anticipated to reach about $145 million by the end of fiscal year 2025 [5] Operational Metrics - Energy storage products deployed increased to 5.0 GW in fiscal year 2024, a 66.7% increase from 3.0 GW in fiscal year 2023 [31] - Contracted backlog grew to 7.5 GW, up 63.0% from 4.6 GW in the previous year [31] - The pipeline expanded significantly to 25.8 GW, representing a 111.5% increase from 12.2 GW in fiscal year 2023 [31]

Core Viewpoint - Fluence Energy, Inc. will report its earnings for the fourth quarter and fiscal year ended September 30, 2024, on November 25, 2024, after market close [1]. Group 1: Earnings Announcement - The earnings report will be followed by a teleconference on November 26, 2024, at 8:30 a.m. EST to discuss the results [2]. - Analysts must register to participate in the teleconference and are encouraged to do so at least 15 minutes before the start time [2]. Group 2: Teleconference Participation - General audience participants can join the teleconference in a listen-only mode via a webcast link or the company's website [3]. - Supplemental materials referenced during the teleconference will be available on the company's website [3]. Group 3: Replay Information - A replay of the conference call will be accessible after 1 p.m. on November 26, 2024, on the company's website [4]. Group 4: Company Overview - Fluence Energy, Inc. is a global leader in energy storage products and services, with a presence in 47 markets [5]. - The company offers modular, scalable energy storage products, comprehensive service offerings, and AI-enabled optimization software for managing renewables and storage [5]. - Fluence is focused on transforming energy systems to create more resilient and sustainable electric grids [5].

Core Viewpoint - Fluence Energy, Inc. (FLNC) is currently positioned as a stronger value investment compared to GE Vernova (GEV), based on earnings outlook and valuation metrics [1][3]. Valuation Metrics - FLNC has a forward P/E ratio of 39.03, significantly lower than GEV's forward P/E of 104.31, indicating FLNC may be undervalued [2]. - The PEG ratio for FLNC is 0.69, while GEV's PEG ratio is 4.97, suggesting FLNC has better expected earnings growth relative to its price [2]. - FLNC's P/B ratio stands at 6.64, compared to GEV's P/B of 7.56, further supporting FLNC's valuation advantage [2]. Style Scores - FLNC has a Zacks Rank of 1 (Strong Buy) and a Value grade of B, while GEV has a Zacks Rank of 2 (Buy) and a Value grade of C, indicating FLNC's superior position in terms of value investment [1][3].

Core Insights - Fluence Energy GmbH will supply a 58 MWh battery-based energy storage system to Statkraft for Germany's largest hybrid solar and storage project, enhancing renewable energy integration [1][2] - The project in Zerbst, Saxony-Anhalt, will feature a 47-megawatt solar park and a 16-megawatt battery storage system, capable of saving approximately 32,000 tonnes of CO2 emissions annually [2][3] - This initiative is part of Germany's Innovation Tenders aimed at accelerating the development of hybrid renewable assets to improve sustainability and efficiency in the energy system [3] Company and Industry Developments - This marks the sixth collaboration between Fluence and Statkraft, Europe's largest renewable energy producer, with ongoing projects in the UK and Ireland [4] - Fluence emphasizes the importance of large-scale battery storage systems for energy security and reducing curtailment, positioning itself as a key player in Germany's energy transition [5] - Fluence operates in nearly 50 markets, focusing on intelligent energy storage and optimization software to create a more resilient grid and maximize renewable energy potential [6]

Stocks in the Alternative Energy - Other Sector - Investors may consider PNM Resources (TXNM) or Fluence Energy, Inc (FLNC) as potential stocks in the Alternative Energy - Other sector [1] - The Zacks Rank and Value category of the Style Scores system are used to identify value stocks, with the Zacks Rank focusing on earnings estimates and revisions, and the Style Scores identifying stocks with specific traits [2] Zacks Rank Comparison - PNM Resources has a Zacks Rank of 2 (Buy), indicating a stronger improvement in its earnings outlook compared to Fluence Energy, Inc, which has a Zacks Rank of 3 (Hold) [3] - Value investors analyze traditional figures and metrics to determine if a company is undervalued at its current share price levels [3] Valuation Metrics - The Value category highlights undervalued companies using key metrics such as P/E ratio, P/S ratio, earnings yield, and cash flow per share [4] - PNM Resources has a forward P/E ratio of 15.84 and a PEG ratio of 6.24, while Fluence Energy, Inc has a forward P/E of 471.21 and a PEG ratio of 8.38 [5] - PNM Resources has a P/B ratio of 1.58, compared to Fluence Energy, Inc's P/B ratio of 7.37 [6] Value Grade Comparison - PNM Resources earns a Value grade of A, while Fluence Energy, Inc has a Value grade of C [6] - PNM Resources stands out in both the Zacks Rank and Style Scores models, making it a better option for value investors currently [6]

onurdongel/E+ via Getty Images Fluence (NASDAQ:FLNC) has experienced a plethora of good news as of late, from strong quarterly results to likely interest rate cuts. As a result, Fluence has seen its r reduct (11:15) 10.5 will state the britanced in the be computy's short-lem mospects look birght, the empanys brances mars our. 15 wall. Por vol. share prices skyrocket ov Fluence has seen its shares skyrocket in recent weeks. VAL 18.35 Fluence Energy Inc (FLNC) Price 16.00 14.00 12.00 Aug 5 Aug 12 Aug 19 Aug 2 ...

SAN DIEGO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Fluence Energy, Inc. (NASDAQ: FLNC) (the "Company") or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws. What if I purchased Fluence Energy securities? If you purchased secur ...

SAN DIEGO, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving Fluence Energy, Inc. (NASDAQ: FLNC) focused on whether Fluence Energy and certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors. If you have information that could assist in this investigation or if you are a Fluence Energy investor who suffered a loss and would like to learn m ...

SAN FRANCISCO, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Fluence Energy, Inc. (NASDAQ: FLNC) investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys. Visit: www.hbsslaw.com/investor-fraud/flnc Contact the Firm Now: FLNC@hbsslaw.com 844-916-0895 Investigation into Fluence Energy, Inc. (FLNC): Fluence Energy, a leading provider of battery energy storage systems, repo ...