Fluence Energy(US:FLNC)2026-02-04 21:10Financial Performance - Revenue for the first quarter of 2026 was approximately $475.2 million, representing an increase of approximately 154.4% compared to the same quarter last year[7] - The company reported a net loss of approximately $62.6 million, compared to a net loss of approximately $57.0 million for the same quarter last year[7] - Adjusted EBITDA for the first quarter of 2026 was approximately $(52.1) million, compared to approximately $(49.7) million for the same quarter last year[7] - Total revenue for the three months ended December 31, 2025, was $475,234,000, a significant increase from $186,788,000 in the same period of 2024, representing a growth of 154%[29] - Gross profit for the same period was $23,049,000, compared to $21,201,000 in the prior year, indicating a slight increase of 8.7%[29] - The net loss for the three months ended December 31, 2025, was $62,588,000, compared to a net loss of $57,013,000 in the same period of 2024, reflecting an increase in losses of 9.1%[30] - The company reported a loss per share of Class A common stock of $0.34 for the three months ended December 31, 2025, compared to a loss of $0.32 in the same period of 2024[29] - Free cash flow for the three months ended December 31, 2025, was $(232.619) million, compared to $(213.341) million in the previous year[46] Liquidity and Assets - Total liquidity was approximately $1.1 billion as of December 31, 2025, including $378.3 million available under the revolving credit facility[7] - Cash and cash equivalents decreased to $452,563,000 as of December 31, 2025, down from $690,768,000 as of September 30, 2025, a decline of 34.4%[28] - Total assets decreased to $2,269,652,000 as of December 31, 2025, from $2,357,000,000 as of September 30, 2025, a reduction of 3.7%[28] - Total liabilities decreased to $1,781,428,000 as of December 31, 2025, from $1,808,152,000 as of September 30, 2025, a decrease of 1.5%[28] Backlog and Guidance - The backlog as of December 31, 2025, reached approximately $5.5 billion, the highest level in the company's history, following over $750 million in order intake during the first quarter[7] - The company reaffirmed its fiscal year 2026 revenue guidance of approximately $3.2 billion to $3.6 billion, with a midpoint of $3.4 billion fully covered by orders in backlog[8] - Adjusted EBITDA guidance for fiscal year 2026 is projected to be approximately $40.0 million to $60.0 million, with a midpoint of $50.0 million[8] - Annual recurring revenue (ARR) is expected to reach approximately $180.0 million by the end of fiscal year 2026[9] Research and Development - Research and development expenses for the three months ended December 31, 2025, were $18,541,000, compared to $17,195,000 in the same period of 2024, an increase of 7.8%[29] Energy Storage Products and Solutions - Energy Storage Products and Solutions deployed increased to 7.2 GW, a 6% increase from 6.8 GW[34] - Contracted backlog for Energy Storage Products and Solutions rose to 9.7 GW, reflecting a 7% increase from 9.1 GW[34] - The pipeline for Energy Storage Products and Solutions expanded to 41.8 GW, a significant 17% increase from 35.7 GW[34] Digital Contracts and Services - Contracted services increased by 60% to 0.8 GW compared to 0.5 GW in the previous year[40] - Digital contracted revenue grew by 34% to 4.3 GW from 3.2 GW year-over-year[40] - Assets under management for services rose to 6.2 GW, an 11% increase from 5.6 GW[34] - The pipeline for digital contracts increased to 71.5 GW, a 12% rise from 63.7 GW[34] Other Financial Metrics - The deferred revenue increased to $804,489,000 as of December 31, 2025, from $640,457,000 as of September 30, 2025, an increase of 25.6%[28] - The company had a net cash used in operating activities of $226,792,000 for the three months ended December 31, 2025, compared to $211,232,000 in the same period of 2024, an increase of 7.4%[31] - Adjusted gross profit margin decreased to 5.6% from 12.5% year-over-year[46]