Fluence Energy(FLNC)

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INVESTOR DEADLINE MONDAY: Fluence Energy, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - FLNC
Prnewswire· 2025-05-09 08:30
Core Viewpoint - Fluence Energy, Inc. is facing a class action lawsuit alleging violations of the Securities Exchange Act of 1934 due to misleading statements and undisclosed product defects during the class period from October 28, 2021, to February 10, 2025 [1][3]. Group 1: Allegations and Issues - The lawsuit claims that Fluence Energy's energy storage products had significant design, installation, and operational defects, which were not adequately addressed [3]. - Allegations include that Fluence Energy overstated the efficacy and safety of its products, leading to inflated financial metrics such as adjusted EBITDA and gross profit margins [3]. - The company is accused of being exposed to undisclosed risks of reputational and financial harm due to these issues, potentially affecting business from current and prospective clients [3]. Group 2: Project Failures - A December 2023 article highlighted multiple defects in Fluence Energy's Diablo project, including slow response times of project control systems and repeated failures of inverters [4]. - The Diablo project was delivered eight months late, and warranty claims were not addressed in a timely manner, contributing to a significant drop in stock price by over 15% following the news [4]. - A February 2024 report revealed that Fluence Energy sold its sixth-generation technology prematurely, leading to operational issues and a lawsuit from Siemens Energy for fraud and design failures [5]. Group 3: Financial Performance - In November 2024, Fluence Energy projected fiscal 2025 revenue between $3.6 billion and $4.4 billion, indicating a year-over-year growth of approximately 48% at the midpoint, but only 65% of this guidance was backed by current contracts [6]. - Following the revenue guidance announcement, the stock price fell approximately 22% over two days [7]. - In February 2025, the company revised its revenue guidance down to a range of $3.1 billion to $3.7 billion, a reduction of about $600 million, citing customer-driven delays and competitive pressures, leading to a further stock price drop of over 52% [8].
Compared to Estimates, Fluence Energy (FLNC) Q2 Earnings: A Look at Key Metrics
ZACKS· 2025-05-09 02:30
Core Insights - Fluence Energy, Inc. reported a revenue of $431.62 million for the quarter ended March 2025, reflecting a year-over-year decline of 30.7% [1] - The company's EPS for the same period was -$0.24, compared to -$0.07 a year ago, indicating a worsening in profitability [1] - The reported revenue exceeded the Zacks Consensus Estimate of $320.61 million by 34.62%, while the EPS fell short of the consensus estimate of -$0.21 by 14.29% [1] Financial Performance Metrics - Energy Storage Products and Solutions deployed 6,200 MW, slightly below the average estimate of 6,206.7 MW from three analysts [4] - Digital Contracts - Asset under Management stood at 19,900 MW, compared to the average estimate of 21,808.84 MW [4] - Service Contracts - Asset under Management was 5,300 MW, exceeding the average estimate of 5,108.92 MW [4] Revenue Breakdown - Revenue from energy storage products and solutions was $397.33 million, surpassing the average estimate of $310.69 million, but representing a year-over-year decline of 35.3% [4] - Revenue from digital applications and solutions reached $1.40 million, slightly below the estimated $1.52 million, but showing a year-over-year increase of 4.5% [4] - Revenue from services was $32.89 million, significantly higher than the average estimate of $15.44 million, marking a year-over-year increase of 307.7% [4] Stock Performance - Fluence Energy's shares returned +2% over the past month, underperforming the Zacks S&P 500 composite's +11.3% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]
Fluence Energy(FLNC) - 2025 Q2 - Quarterly Report
2025-05-08 20:10
Part I - Financial Information [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited consolidated financial statements and notes cover accounting policies, financial instruments, debt, and equity [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheets (in thousands) | Metric | March 31, 2025 | September 30, 2024 | | :-------------------------- | :------------- | :----------------- | | Total Assets | $2,273,146 | $1,902,188 | | Cash and cash equivalents | $568,622 | $448,685 | | Inventory, net | $698,277 | $182,601 | | Total Liabilities | $1,774,083 | $1,295,049 | | Deferred revenue | $648,090 | $274,499 | | Convertible senior notes, net | $389,912 | $— | | Total Stockholders' Equity | $499,063 | $607,139 | [Condensed Consolidated Statements of Operations](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations (Three Months Ended March 31, in thousands) | Metric | 2025 | 2024 | Change (YoY) | Change % (YoY) | | :-------------------------- | :----- | :----- | :----------- | :------------- | | Total Revenue | $431,618 | $623,141 | $(191,523) | (30.7%) | | Gross Profit | $42,582 | $64,180 | $(21,598) | (33.7%) | | Net Loss | $(41,932) | $(12,876) | $(29,056) | 225.7% | | Basic Loss per Share | $(0.24) | $(0.07) | $(0.17) | 242.9% | Condensed Consolidated Statements of Operations (Six Months Ended March 31, in thousands) | Metric | 2025 | 2024 | Change (YoY) | Change % (YoY) | | :-------------------------- | :----- | :----- | :----------- | :------------- | | Total Revenue | $618,406 | $987,097 | $(368,691) | (37.3%) | | Gross Profit | $63,783 | $100,566 | $(36,783) | (36.6%) | | Net Loss | $(98,945) | $(38,432) | $(60,513) | 157.4% | | Basic Loss per Share | $(0.56) | $(0.21) | $(0.35) | 166.7% | [Condensed Consolidated Statements of Other Comprehensive Income (Loss)](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Other%20Comprehensive%20Income%20(Loss)) Condensed Consolidated Statements of Other Comprehensive Income (Loss) (Three Months Ended March 31, in thousands) | Metric | 2025 | 2024 | Change (YoY) | Change % (YoY) | | :-------------------------- | :----- | :----- | :----------- | :------------- | | Net Loss | $(41,932) | $(12,876) | $(29,056) | 225.7% | | Total Other Comprehensive Income (Loss) | $8,180 | $(1,603) | $9,783 | (610.3%) | | Total Comprehensive Loss | $(33,752) | $(14,479) | $(19,273) | 133.1% | Condensed Consolidated Statements of Other Comprehensive Income (Loss) (Six Months Ended March 31, in thousands) | Metric | 2025 | 2024 | Change (YoY) | Change % (YoY) | | :-------------------------- | :----- | :----- | :----------- | :------------- | | Net Loss | $(98,945) | $(38,432) | $(60,513) | 157.4% | | Total Other Comprehensive Income (Loss) | $11,062 | $32 | $11,030 | 34468.8% | | Total Comprehensive Loss | $(87,883) | $(38,400) | $(49,483) | 128.9% | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Changes in Stockholders' Equity (Six Months Ended March 31, 2025, in thousands) | Metric | September 30, 2024 | March 31, 2025 | Change | | :-------------------------- | :----------------- | :------------- | :----- | | Total Stockholders' Equity | $607,139 | $499,063 | $(108,076) | | Net loss attributable to Fluence Energy, Inc. | $(151,448) (Accumulated Deficit) | $(223,960) (Accumulated Deficit) | $(72,512) | | Additional Paid-In Capital | $634,851 | $615,996 | $(18,855) | | Accumulated Other Comprehensive Income (Loss) | $(1,840) | $6,083 | $7,923 | | Stock-based compensation | — | $9,092 | $9,092 | [Condensed Consolidated Statements of Cash Flows](index=18&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows (Six Months Ended March 31, in thousands) | Activity | 2025 | 2024 | Change (YoY) | Change % (YoY) | | :-------------------------------- | :----- | :----- | :----------- | :------------- | | Net cash (used in) provided by operating activities | $(257,416) | $90,248 | $(347,664) | (385.2%) | | Net cash used in investing activities | $(12,760) | $(7,491) | $(5,269) | 70.3% | | Net cash provided by (used in) financing activities | $359,113 | $(6,631) | $365,744 | (5515.7%) | | Net increase in cash, cash equivalents, and restricted cash | $91,309 | $78,751 | $12,558 | 15.9% | - Net cash used in operating activities for the six months ended March 31, 2025, was primarily due to a net loss of **$98.9 million**, increases in inventory of **$520.2 million**, and decreases in accounts payable of **$202.9 million**; these outflows were partially offset by a **$379.7 million** increase in deferred revenue and a **$247.1 million** decrease in receivables[27](index=27&type=chunk)[304](index=304&type=chunk) - Net cash provided by financing activities for the six months ended March 31, 2025, was primarily driven by **$400.0 million** in proceeds from the issuance of 2030 Convertible Senior Notes, partially offset by **$29.0 million** for Capped Calls and **$10.6 million** for debt issuance costs[27](index=27&type=chunk)[307](index=307&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=19&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) [1. Organization and Operations](index=19&type=section&id=1.%20Organization%20and%20Operations) - Fluence Energy, Inc. is a holding company that conducts its business operations through Fluence Energy, LLC, a joint venture formed by Siemens Industry, Inc. and AES Grid Stability, LLC[29](index=29&type=chunk)[30](index=30&type=chunk) - The company operates in one reportable segment, with its Chief Executive Officer reviewing financial information on a consolidated basis for operating decisions[32](index=32&type=chunk) - AES Grid Stability exercised its redemption right for **7,087,500 LLC Interests**, increasing Fluence Energy, Inc.'s beneficial ownership to **71.12%** as of December 8, 2023[34](index=34&type=chunk)[35](index=35&type=chunk) [2. Summary of Significant Accounting Policies and Estimates](index=20&type=section&id=2.%20Summary%20of%20Significant%20Accounting%20Policies%20and%20Estimates) - The financial statements are prepared in accordance with U.S. GAAP and SEC rules, consolidating Fluence Energy, Inc. and its subsidiaries, with all intercompany balances eliminated[36](index=36&type=chunk) - Fluence Energy, Inc. beneficially owns **71.70%** of Fluence Energy, LLC as of March 31, 2025, and is considered the primary beneficiary, consolidating its results[37](index=37&type=chunk) - Revenue from energy storage products and solutions is recognized over time using the percentage-of-completion method, while services and digital applications revenue is recognized ratably over the service term or straight-line, respectively[47](index=47&type=chunk)[55](index=55&type=chunk)[58](index=58&type=chunk) - The company capitalizes internal-use software costs (amortized over **3-5 years**), hosting arrangement costs (**5-7 years**), and external-
Shareholders that lost money on Fluence Energy, Inc.(FLNC) Urged to Join Class Action – Contact Levi & Korsinsky to Learn More
GlobeNewswire News Room· 2025-05-08 17:47
Core Viewpoint - A class action securities lawsuit has been filed against Fluence Energy, Inc. for alleged securities fraud affecting investors between October 28, 2021, and February 10, 2025 [1][2] Group 1: Allegations - The lawsuit claims that Fluence Energy made false statements regarding its relationships with major revenue sources, Siemens AG and The AES Corporation, suggesting these relationships were set to decline [2] - It is alleged that Siemens Energy accused Fluence of engineering failures and fraud, which was not disclosed to investors [2] - The complaint states that Fluence's reported margins and revenue growth were inflated due to the impending divestment by Siemens and AES [2] - The defendants are said to have lacked a reasonable basis for their positive statements about Fluence's battery energy storage business and its financial outlook [2] Group 2: Legal Process - Investors who suffered losses during the specified period have until May 12, 2025, to request appointment as lead plaintiff in the lawsuit [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3] Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing significant settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [4]
Fluence Energy(FLNC) - 2025 Q2 - Earnings Call Transcript
2025-05-08 13:32
Financial Data and Key Metrics Changes - The company reported approximately $432 million in revenue for Q2 2025, exceeding expectations due to faster project milestone achievements [9][30] - Adjusted gross profit was $45 million, resulting in an adjusted gross profit margin of approximately 10.4%, marking the seventh consecutive quarter of double-digit margins [30] - Annual recurring revenue (ARR) increased to $110 million, with a revised guidance for ARR of $145 million [9][32] Business Line Data and Key Metrics Changes - The backlog at the end of the quarter was approximately $4.9 billion, including $200 million in contracts added during the quarter [9][20] - The company anticipates a strong ramp-up in order volume, particularly in Australia, as it enters the second half of the fiscal year [9][10] Market Data and Key Metrics Changes - The U.S. electricity demand is projected to grow by 11% through 2030, indicating a significant increase in annual energy storage capacity [14] - Battery storage capacity in Australia is expected to reach 51 gigawatt hours by February 2030, up from 7 gigawatt hours in 2024 [15] Company Strategy and Development Direction - The company is focused on its SmartStack technology and U.S. domestic content strategy to create value for stakeholders [21][22] - The domestic content strategy aims to meet local manufacturing requirements under the Inflation Reduction Act (IRA), providing tariff incentives and creating jobs [25][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term growth prospects for energy storage despite current tariff-related uncertainties [11][39] - The company believes that the high tariff levels on Chinese imports are unlikely to be sustainable and expects a return to normalized contracting activity in the U.S. market [12][39] Other Important Information - The company ended the quarter with over $1 billion in liquidity, including $610 million in cash, providing a strong financial foundation [10][32] - The revised guidance for fiscal 2025 reflects a lower revenue expectation due to tariff impacts, with a midpoint guidance of $2.7 billion [34][36] Q&A Session Summary Question: Clarification on AESC ramp and capacity - Management clarified that the Tennessee facility has two lines, each with a capacity of 3 to 3.5 gigawatt hours, allowing for a combined annualized run rate of 12 gigawatt hours through a mix of domestic and imported batteries [45][48] Question: Mix of contracts in pause state - Approximately half of the $700 million in paused contracts were already in backlog, while the other half were under advanced negotiations [97][98] Question: Domestic content strategy and customer willingness - Management indicated that customers are hesitant to commit to fully domestic offerings due to uncertainty around future tariff negotiations with China [109][111] Question: Competitive landscape and tariff impacts - The competitive landscape remains intense, with management noting that uncertainty has made it difficult to gauge competition levels [70][71] Question: Global alternative cell supply situation - Management acknowledged that while there is some production outside of China, the majority of cell production still comes from China, making diversification challenging [76][78]
Fluence Energy(FLNC) - 2025 Q2 - Earnings Call Transcript
2025-05-08 13:30
Financial Data and Key Metrics Changes - The company reported approximately $432 million in revenue for Q2 2025, exceeding expectations due to earlier-than-expected project milestone deliveries [7][28] - Adjusted gross profit was $45 million, resulting in an adjusted gross profit margin of approximately 10.4%, marking the seventh consecutive quarter of double-digit margins [28] - The annual recurring revenue (ARR) increased to $110 million, with a revised guidance for ARR set at $145 million [7][30] Business Line Data and Key Metrics Changes - The backlog at the end of the quarter was approximately $4.9 billion, including $200 million in contracts added during the quarter [7][18] - The company anticipates a strong ramp-up in order volume, particularly in Australia, as it enters the second half of the fiscal year [7][10] Market Data and Key Metrics Changes - The U.S. electricity demand is projected to grow by 11% through 2030, indicating a significant increase in annual energy storage capacity [12] - Battery storage in Australia is expected to reach 51 gigawatt hours by February 2030, up from 7 gigawatt hours in 2024 [13] - The company expects 278 gigawatt hours of capacity additions in the U.S. through 2030, highlighting the growing significance of battery storage [14] Company Strategy and Development Direction - The company is focused on its SmartStack technology and U.S. domestic content strategy to create value for stakeholders [19][20] - The domestic content strategy aims to meet local manufacturing requirements under the Inflation Reduction Act (IRA), providing tariff incentives and creating jobs [23][25] - The company is optimistic about the long-term growth prospects for energy storage despite current tariff challenges [11][35] Management's Comments on Operating Environment and Future Outlook - Management noted that the recent U.S. tariffs have introduced substantial economic uncertainty, impacting customer decision-making and project execution [36] - The company believes the current high tariff levels on Chinese imports are unlikely to be sustainable and expects a return to more normalized contracting activity [9][10] - Management remains confident in the long-term positioning of the company and its ability to navigate current challenges [37] Other Important Information - The company ended the quarter with over $1 billion in liquidity, including $610 million in cash, providing a strong financial foundation [8][30] - The company has paused execution of some U.S. contracts due to tariff uncertainties, but does not expect material cancellations [31][32] Q&A Session Summary Question: Clarification on AESC ramp and capacity - The company clarified that each production line has a capacity of 3 to 3.5 gigawatt hours, and by mixing domestic and imported batteries, they can achieve an annualized run rate of 12 gigawatt hours [44][46] Question: Impact of tariffs on pricing and margins - Management indicated that the uncertainty around tariffs makes it difficult to set stable pricing, but they believe they can remain competitive even with high tariffs [55][56] Question: Ownership structure and political concerns - The company has a plan in place to address potential future restrictions on ownership related to IRA benefits [65][66] Question: Competitive landscape and Chinese vendors - Management noted that competition is currently in a wait-and-see mode due to tariff uncertainties, but they believe their domestic production strategy positions them well [68][69] Question: Status of delayed projects in Australia - The company expects to sign two delayed projects in the current quarter and one in the fourth quarter, indicating progress in project execution [76] Question: Future bookings and domestic content strategy - Management explained that while a fully domestic offering would be attractive, customers are hesitant due to uncertainty about future tariff negotiations with China [103][106]
DEADLINE APPROACHING: Berger Montague Advises Fluence Energy (NASDAQ: FLNC) Investors to Inquire About a Securities Fraud Class Action by May 12, 2025
Prnewswire· 2025-05-08 12:33
Core Points - A securities class action lawsuit has been filed against Fluence Energy, Inc. for the period from October 28, 2021, to February 10, 2025 [1][2] - The lawsuit follows a report from Blue Orca Capital revealing that Siemens had sued Fluence for misrepresentation, breach of contract, and fraud [2] - Following the news of the Siemens lawsuit, Fluence's stock price dropped over 13%, from $17.01 to $14.73 per share [3] - On February 10, 2025, Fluence reported a Q1 fiscal 2025 net loss of $57 million, with revenues down 49% year-over-year, and subsequently lowered revenue guidance [3] - The stock price fell further by $6.07, or more than 46%, from $13.07 to $7.00 per share on February 11, 2025 [4] Legal Context - Investors who purchased Fluence securities during the class period have until May 12, 2025, to seek appointment as lead plaintiff [2] - A lead plaintiff represents the interests of all class members in the litigation process [5] - Berger Montague has a long history in securities class action litigation, representing both individual and institutional investors [6]
Class Action Filed Against Fluence Energy, Inc. (FLNC) - May 12, 2025 Deadline to Join - Contact The Gross Law Firm
Prnewswire· 2025-05-08 09:45
Core Viewpoint - Fluence Energy, Inc. is facing allegations of issuing materially false and misleading statements regarding its business operations and financial performance during the class period from October 28, 2021, to February 10, 2025 [1] Allegations - The complaint claims that Fluence's relationship with its founders and major revenue sources, Siemens AG and The AES Corporation, was expected to decline [1] - Siemens Energy, the U.S. affiliate of Siemens AG, accused Fluence of engineering failures and fraud [1] - Fluence's reported margins and revenue growth were allegedly inflated as Siemens and AES were moving towards divestment [1] - Due to the aforementioned issues, the defendants reportedly lacked a reasonable basis for their positive statements regarding Fluence's battery energy storage business and its financial results, growth, and prospects [1] Class Action Details - Shareholders who purchased FLNC shares during the specified class period are encouraged to register for the class action by May 12, 2025 [2] - Registered shareholders will be enrolled in a portfolio monitoring system to receive updates throughout the case [2] - There is no cost or obligation for shareholders to participate in the case [2]
With Q2 Results Disappointing, Fluence Energy (FLNC) Investors Eye May 12 Class Action Deadline– Hagens Berman
GlobeNewswire News Room· 2025-05-07 22:39
SAN FRANCISCO, May 07, 2025 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (NASDAQ: FLNC) faces mounting challenges as disappointing fiscal second-quarter results and a steep guidance revision collide with escalating legal scrutiny over alleged financial misrepresentations. The disappointing quarter arrives amid an escalating federal securities class action lawsuit, with investors accusing Fluence of painting an overly optimistic picture of its business-and the looming May 12, 2025 deadline for lead plaintiff sta ...
Fluence Energy(FLNC) - 2025 Q2 - Earnings Call Presentation
2025-05-07 22:26
Financial Performance & Guidance - Q2 2025 revenue reached $432 million, a 31% decrease compared to Q2 2024[10, 29, 30] - Adjusted EBITDA for Q2 2025 was -$30 million[10, 29, 30] - The company lowered FY25 revenue guidance to $2.6 billion - $2.8 billion, with a midpoint of $2700 million[10, 36, 39] - FY25 Adjusted EBITDA guidance was also lowered to $0 - $20 million, with a midpoint of $10 million[36, 43] - The company anticipates an adjusted gross profit margin of 10-12% for FY25[37, 41] - The company expects H2 FY'25 revenue split to be approximately 35% in Q3 and 65% in Q4[37] Backlog & Pipeline - Backlog as of March 31, 2025, was approximately $4.9 billion[10, 21, 45] - The company's pipeline as of March 31, 2025, was approximately $22 billion[10, 21] - H2 FY25 backlog is $1.9 billion, and future years backlog is $3.0 billion[21] - Annual Recurring Revenue (ARR) as of March 31, 2025, was $110 million[10] Tariffs & Strategy - The company paused certain US project execution and order intake due to US tariff uncertainty[10, 13, 39, 45] - The company believes current tariff levels are unsustainable and expects an eventual US-China trade deal to ease tariffs[13] - The company has a robust liquidity position of over $1 billion to navigate the current environment[10, 45]