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 ...

Financial Data and Key Metrics Changes - The company reported $483 million in revenue for Q3 2024, a 20% increase compared to previous expectations, primarily due to completing project milestones ahead of schedule [16] - Adjusted gross margin was 17.5%, marking the fourth consecutive quarter of double-digit gross profit margins, with a year-to-date adjusted gross margin of 12.8% [16][24] - Adjusted EBITDA for the quarter was $15.6 million, indicating a positive trajectory towards profitable growth [5][17] - The company generated $64 million in free cash flow for the first nine months and ended the quarter with $513 million in cash [5][19] Business Line Data and Key Metrics Changes - The company added $1.3 billion in new contracts during the quarter, setting a new quarterly record and bringing the backlog to an all-time high of $4.5 billion [5][24] - Annual recurring revenue for services and digital business reached $80 million, surpassing the target a quarter earlier than expected [5] Market Data and Key Metrics Changes - The U.S. remains the largest market, with nearly half of the $20 billion pipeline located in the Americas, reflecting strong growth prospects [7][12] - The company anticipates the U.S. utility-scale market will add approximately 40 gigawatts in 2025, driven by corporate demand for renewable energy [10][12] - The international market, particularly in the U.K. and Australia, is also showing robust growth, with significant capacity additions expected [14][15] Company Strategy and Development Direction - The company is focused on a domestic content strategy to capitalize on U.S. market opportunities, particularly in light of recent regulatory changes [9][10] - The company aims to achieve sustainable gross margins in the 10% to 15% range, supported by operational efficiencies and cost management [6][22] - The company is on track for initial production of its battery module in late September 2024, which is expected to enhance its competitive position [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver profitable growth and achieve a revenue outlook of 35% to 40% growth for fiscal year 2025 [7][24] - The company is optimistic about the demand for battery storage systems in the U.S., driven by the need for grid stability and renewable energy capacity [10][12] - Management noted that the political environment and industrial policies favor domestic products, which should support the company's business model [10] Other Important Information - The company is cooperating with an SEC investigation regarding certain matters, but does not expect it to materially impact financial conditions [18] - The company has replaced its ABL credit facility with a traditional revolver, enhancing liquidity to over $1 billion [19] Q&A Session All Questions and Answers Question: Geographic breakdown of revenues and margins - Management noted that international markets tend to have more EPC contracts, leading to higher ASPs and margins compared to the U.S. market [26][27] Question: Backlog and U.S. cell requirements - Management indicated increased interest in U.S. cells due to new IRA guidelines and tariffs, but refrained from disclosing specific pricing details [29][30] Question: Updated guidance and project timing - Management confirmed that the guidance for fiscal 2025 remains at 35% to 40% growth, with a focus on delivering projects efficiently [32][33] Question: Domestic cell supply and competition - Management believes there will be enough domestic supply to meet demand, despite varying industry forecasts [65] Question: Pricing environment and competition - Management acknowledged a competitive market but expressed confidence in the company's ability to maintain margins despite potential price declines [61][63]

SAN FRANCISCO, Aug. 09, 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 is facing increased scrutiny regarding the propriety of its ...

SAN DIEGO, Aug. 9, 2024 /PRNewswire/ -- 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 securities ...

Fluence Energy, Inc. (FLNC) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to loss of $0.20 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this company would post a loss of $0.07 per share when it actually produced a loss of $0.07, delivering no surprise. Over the last four quarters, the company has surpassed con ...

Financial Performance - Total revenue for the three months ended June 30, 2024, was $483.3 million, a decrease of 9.9% compared to $536.4 million for the same period in 2023[14]. - Gross profit for the three months ended June 30, 2024, was $83.0 million, significantly up from $21.8 million in the same period last year, representing a gross margin improvement[14]. - Net income attributable to Fluence Energy, Inc. for the three months ended June 30, 2024, was $0.8 million, compared to a net loss of $23.4 million for the same period in 2023[14]. - The company reported a comprehensive loss of $1.3 million for the three months ended June 30, 2024, compared to a comprehensive loss of $30.0 million for the same period in 2023[15]. - For the nine months ended June 30, 2024, the net loss was $37,357,000, a significant improvement compared to a net loss of $109,636,000 for the same period in 2023, representing a reduction of approximately 66%[27]. - The company reported a net loss of $72,888,000 for the quarter ending September 30, 2022[24]. - The company reported a net loss of $37.36 million for the nine months ended June 30, 2024, compared to a net loss of $109.64 million for the same period in 2023[72]. Cash and Liquidity - Cash and cash equivalents increased to $388.2 million as of June 30, 2024, up from $345.9 million as of September 30, 2023[11]. - Cash, cash equivalents, and restricted cash at the end of the period totaled $513,308,000, an increase from $416,096,000 at the end of the previous year[27]. - As of June 30, 2024, total cash, cash equivalents, and restricted cash amounted to $513.3 million, an increase of 10.9% from $462.7 million on September 30, 2023[44]. - The company incurred capital expenditures on software amounting to $8,606,000, compared to $7,284,000 in the prior year, highlighting ongoing investment in technology[27]. - The company had treasury stock amounting to $(9,040,000) as of June 30, 2024[17]. - The company is required to maintain Total Liquidity of no less than $150 million from the Amendment Effective Date through December 31, 2025[109]. Assets and Liabilities - Total current liabilities rose to $1.1 billion as of June 30, 2024, compared to $745.7 million as of September 30, 2023, reflecting increased operational commitments[11]. - The total assets of the company increased to $1.7 billion as of June 30, 2024, from $1.4 billion as of September 30, 2023, showing growth in the asset base[11]. - Inventory increased to $469.9 million as of June 30, 2024, compared to $224.9 million as of September 30, 2023, indicating a significant buildup in stock[11]. - The total accounts payable increased to $256,264,000 from $(139,244,000), suggesting a rise in operational liabilities[27]. - Accruals as of June 30, 2024, totaled $213,339, an increase from $175,960 as of September 30, 2023[93]. Revenue Recognition - Revenue from energy storage products and solutions is recognized using the percentage of completion method, with variable consideration related to liquidated damages estimated at $75.5 million as of June 30, 2024, down from $84.1 million on September 30, 2023[48]. - For the three months ended June 30, 2024, the company recognized approximately $8.9 million in revenue from changes in transaction prices, while for the nine months, this figure was $16.3 million[49]. - Revenue from energy storage products and solutions for the three months ended June 30, 2024, was $472,569, a decrease of 10.9% compared to $530,268 for the same period in 2023[81]. - Total revenue for the nine months ended June 30, 2024, was $1,470,414, down 4.8% from $1,544,997 for the same period in 2023[81]. - The company's top two customers accounted for approximately 59% of total revenue for the nine months ended June 30, 2024, compared to 62% for the same period in 2023[83]. Research and Development - Research and development expenses for the three months ended June 30, 2024, were $15.0 million, up from $9.9 million in the same period last year, indicating a focus on innovation[14]. - Research and development expenses are expected to increase to support growth and technology roadmap goals, with significant investments planned[206]. Stock and Equity - As of June 30, 2024, total stockholders' equity amounted to $538,177,000, with an accumulated deficit of $199,291,000[17]. - The balance of Class A common stock increased to 128,893,582 shares as of June 30, 2024, from 118,903,435 shares as of September 30, 2023[19]. - The weighted average number of Class A common stock outstanding for the three months ended June 30, 2024, was 127,910,081, an increase from 117,456,282 for the same period in 2023[72]. - The company granted 165,521 non-qualified stock options under the 2021 Incentive Plan with a weighted average exercise price of $22.31 during the nine months ended June 30, 2024[152]. - As of June 30, 2024, there are 1,887,787 restricted stock units (RSUs) outstanding with unrecognized stock compensation expense of $18.7 million[151]. Debt and Financing - The Company entered into an Asset-Based Lending (ABL) Credit Agreement on November 22, 2023, with revolving commitments totaling $400.0 million, maturing on November 22, 2027[97]. - The 2024 Revolver, effective August 6, 2024, has an initial aggregate principal amount of up to $500.0 million, secured by a first priority pledge of the Company's equity interests[106][107]. - The interest rates for the 2024 Credit Agreement include an Alternate Base Rate plus 2.00% for ABR Borrowings and Term SOFR Rate plus 3.00% for Term Benchmark Borrowings[108]. - The Revolving Credit Agreement was terminated on November 22, 2023, in conjunction with the entry into the ABL Credit Agreement[95]. - The ABL Credit Agreement includes customary covenants restricting the Company's ability to incur additional indebtedness and pay dividends[103][109]. Legal and Regulatory Matters - The SEC is conducting a formal investigation into the Company’s financial reporting following a short-seller report, with the Company intending to fully cooperate[133]. - The Company is involved in litigation seeking approximately $37.0 million in damages related to an energy storage facility, with a cross-complaint against it seeking a minimum of $25.0 million[132]. - The Company recorded a full valuation allowance against deferred tax assets related to its investment in Fluence Energy, LLC, as well as certain foreign subsidiaries due to cumulative losses as of June 30, 2024[115]. Market and Industry Trends - The cost of lithium-ion energy storage hardware has significantly declined, but price increases were observed in 2022, with a return to historical declines in 2023[188]. - The deployment of renewable energy is expected to represent 70% of all new global capacity installations through 2030, highlighting the importance of energy storage[190]. - The energy storage sector is highly competitive, with new entrants annually, but Fluence aims to differentiate through tailored products and services[192]. - The Inflation Reduction Act of 2022 includes incentives for energy storage, which Fluence believes will benefit its operations and future performance[195].

Financial Performance - Record quarterly order intake of $1.3 billion, compared to approximately $565 million for the same quarter last year[4] - Revenue of approximately $483.3 million, representing a decrease of approximately 10% from the same quarter last year[2] - GAAP gross profit margin improved to approximately 17.2%, compared to approximately 4.1% for the same quarter last year[2] - Adjusted EBITDA of approximately $15.6 million, improved from approximately negative $27.5 million for the same quarter last year[6] - Net income of approximately $1.1 million, improved from a net loss of approximately $35.0 million for the same quarter last year[6] - Free cash flow was approximately $64.3 million in the first nine months of fiscal year 2024, compared to approximately negative $162.4 million in the same period last year[4] - Updated fiscal year 2024 total revenue guidance narrowed to $2.7 billion to $2.8 billion, with Adjusted EBITDA range of $55 million to $65 million[9] - Annual Recurring Revenue (ARR) guidance increased to approximately $100 million by the end of fiscal year 2024[7] - Total revenue for the nine months ended June 30, 2024, was $1,470,414 thousand, compared to $1,544,997 thousand for the same period in 2023[23] - Net loss attributable to Fluence Energy, Inc. for the nine months ended June 30, 2024, was $25,127 thousand, compared to a net loss of $72,888 thousand for the same period in 2023[23] - Net loss for the nine months ended June 30, 2024, improved to $37.36 million from $109.64 million in the same period in 2023, reflecting a significant reduction in losses[25] - Net income improved significantly to $1.075 million in Q2 2024 from a loss of $35.045 million in Q2 2023, a 103% increase[41] - Adjusted EBITDA increased by 157% to $15.6 million in Q2 2024 compared to a loss of $27.483 million in Q2 2023[41] - Total revenue decreased by 10% to $483.317 million in Q2 2024 from $536.351 million in Q2 2023[43] - Gross profit margin improved to 17.2% in Q2 2024 from 4.1% in Q2 2023, a significant increase of 281%[43] - Adjusted Gross Profit increased by 258% to $84.639 million in Q2 2024 from $23.627 million in Q2 2023[43] - Free Cash Flow turned positive at $64.318 million in the nine months ended June 2024, compared to a negative $162.364 million in the same period in 2023, a 140% improvement[44] - Net cash provided by operating activities improved to $69.156 million in the nine months ended June 2024 from a negative $160.487 million in the same period in 2023, a 143% increase[44] Backlog and Order Intake - Backlog increased to approximately $4.5 billion as of June 30, 2024, compared to approximately $3.7 billion as of March 31, 2024[4] - Contracted backlog for energy storage products and solutions grew by 43% to 6.6 GW and pipeline increased by 99% to 24.3 GW as of June 30, 2024[30] - Order intake for energy storage products and solutions for the nine months ended June 30, 2024, increased by 131% to 3.7 GW compared to the same period in 2023[31] - Service contracts order intake for the nine months ended June 30, 2024, grew by 67% to 2.0 GW compared to the same period in 2023[31] - Digital contracts order intake for the nine months ended June 30, 2024, decreased by 9% to 4.0 GW compared to the same period in 2023[31] Operational Metrics - U.S. battery module production on track to start in September 2024, enabling products to meet U.S. domestic content incentives under the Inflation Reduction Act[7] - Energy storage products and solutions deployed increased by 50% to 4.5 GW and by 61% to 11.6 GWh as of June 30, 2024, compared to September 30, 2023[30] - Service contracts assets under management increased by 32% to 3.7 GW, and contracted backlog grew by 24% to 3.6 GW as of June 30, 2024[30] - Digital contracts assets under management rose by 18% to 18.3 GW, while pipeline increased by 23% to 30.1 GW as of June 30, 2024[30] Balance Sheet and Cash Flow - Cash and cash equivalents increased to $388,242 thousand as of June 30, 2024, from $345,896 thousand as of September 30, 2023[21] - Inventory, net increased significantly to $469,934 thousand as of June 30, 2024, from $224,903 thousand as of September 30, 2023[21] - Total current liabilities increased to $1,124,706 thousand as of June 30, 2024, from $745,663 thousand as of September 30, 2023[21] - Deferred revenue increased to $409,612 thousand as of June 30, 2024, from $273,164 thousand as of September 30, 2023[21] - Total assets increased to $1,689,953 thousand as of June 30, 2024, from $1,352,149 thousand as of September 30, 2023[21] - The company's cash, cash equivalents, and restricted cash increased to $513.31 million as of June 30, 2024, from $416.10 million as of June 30, 2023[25] Expenses and Costs - Research and development expenses for the nine months ended June 30, 2024, were $47,843 thousand, compared to $51,631 thousand for the same period in 2023[23] - Gross profit for the nine months ended June 30, 2024, was $183,611 thousand, compared to $64,673 thousand for the same period in 2023[23] - Total comprehensive loss attributable to Fluence Energy, Inc. for the nine months ended June 30, 2024, was $26,757 thousand, compared to $72,850 thousand for the same period in 2023[24] - Stock-based compensation decreased by 32% to $824 thousand in Q2 2024 from $1.208 million in Q2 2023[43] - Amortization expenses increased by 57% to $770 thousand in Q2 2024 from $491 thousand in Q2 2023[43] - Cost of goods and services decreased by 22% to $400.272 million in Q2 2024 from $514.531 million in Q2 2023[43]