Revenue Performance - Revenue for the second fiscal quarter was approximately $623.1 million, a decrease of about 11% year-over-year, primarily due to timing of product deliveries [5] - Total revenue for the three months ended March 31, 2024, was $623,141, a decrease of $75,045 or 11% compared to $698,186 in the same period of 2023 [56] Profitability Metrics - GAAP gross profit margin improved to approximately 10.3%, compared to approximately 4.4% for the same quarter last year [5] - Gross profit for the three months ended March 31, 2024, increased to $64,180, representing a 108% increase from $30,813 in the prior year [56] - Adjusted Gross Profit Margin for the three months ended March 31, 2024, was 10.6%, up from 4.6% in the same period of 2023 [56] - Net loss narrowed to approximately $12.9 million, an improvement from a net loss of approximately $37.4 million for the same quarter last year [5] - Net loss attributable to Fluence Energy, Inc. for the three months ended March 31, 2024, was $9.2 million, compared to a net loss of $24.9 million for the same period in 2023, indicating improved performance [34] - Net loss for the six months ended March 31, 2024, was $38,432,000, a 48% improvement from a net loss of $74,590,000 in the same period of 2023 [35] Cash Flow and Liquidity - Total cash increased to approximately $541.5 million, up by approximately $79 million from September 30, 2023 [5] - Cash provided by operating activities for the six months ended March 31, 2024, was $90,248,000, compared to cash used in operating activities of $163,411,000 in the prior year [35] - Free Cash Flow for the six months ended March 31, 2024, was $87,775, improving by $252,273 from $(164,498) in the previous year [59] - Total cash, cash equivalents, and restricted cash increased to $541,482,000 as of March 31, 2024, up from $312,581,000 at the end of the previous year [35] Backlog and Contracts - Backlog remained stable at approximately $3.7 billion as of March 31, 2024 [5] - Digital backlog increased by approximately 75% compared to the same quarter last year [9] - The company reaffirmed its fiscal year 2024 total revenue guidance range of $2.7 billion to $3.3 billion, with approximately 90% of the midpoint covered by current backlog [11] - Contracted backlog for energy storage products grew to 5.3 GW, a 15% increase from 4.6 GW as of September 30, 2023 [40] - The pipeline of potential contracts expanded to 18.4 GW, reflecting a 51% increase from 12.2 GW as of September 30, 2023 [40] - Digital contracts' pipeline grew to 35.6 GW, a 46% increase from 24.4 GW as of September 30, 2023 [40] Operational Metrics - Deployed energy storage products increased to 4.1 GW as of March 31, 2024, representing a 37% increase from 3.0 GW as of September 30, 2023 [40] - Order intake for energy storage products and solutions for the six months ended March 31, 2024, was 2.1 GW, a 75% increase from 1.2 GW in the prior year [40] - Assets under management for service contracts increased to 3.3 GW, an 18% rise from 2.8 GW as of September 30, 2023 [40] Expenses and Future Outlook - Research and development expenses for the three months ended March 31, 2024, were $17.4 million, down from $22.6 million for the same period in 2023 [34] - The company anticipates increasing expenses in the future, which may impact its ability to maintain prolonged profitability [26] - Adjusted EBITDA improved to approximately negative $6.1 million, compared to approximately negative $27.7 million for the same quarter last year [5] - Adjusted EBITDA for the six months ended March 31, 2024, improved to $(24,366,000), a 55% increase compared to $(53,731,000) in the same period of 2023 [52] Asset and Equity Position - Total assets as of March 31, 2024, were $1.53 billion, an increase from $1.35 billion as of September 30, 2023 [32] - Total stockholders' equity attributable to Fluence Energy, Inc. increased to $413.1 million as of March 31, 2024, from $402.3 million as of September 30, 2023 [32]

Fluence Energy, Inc. (FLNC) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May ...

About $150 trillion is expected to go into decarbonizing the global economy over the next thirty years. Here are the top four green energy stocks that may benefit as the world executes on its commitment to that transition.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.NextEra Energy Inc (NYSE: NEE)Copy link to sectionNextEra Energy is on our list of top four green energy stocks for long-term investment as it is one of the biggest names in the wind an ...

ARLINGTON, Va., April 22, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (NASDAQ:FLNC) ("Fluence" or the "Company"), announced today that it will report earnings for the second quarter ended March 31, 2024 on Wednesday, May 8th, 2024, after market close. The Company will conduct a teleconference starting at 8:30 a.m. EST on Thursday, May 9th, 2024, to discuss the results. To participate, analysts are required to register by clicking Fluence Energy Q2 Earnings Call Registration Link. Once registered, analysts ...

ARLINGTON, Va., April 18, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. ("Fluence") (NASDAQ:FLNC), a leading global provider of energy storage products and services, and optimization software for renewables and storage, issued its 2023 Sustainability Report (the "Report") providing updates on the company's sustainability strategy during the fiscal year ended September 30, 2023. The Report enhances and builds upon the sustainability disclosures from our inaugural sustainability report published in April 2023 ...

AMSTERDAM, April 11, 2024 (GLOBE NEWSWIRE) -- Fluence Energy B.V. ("Fluence"), a subsidiary of Fluence Energy, Inc. (NASDAQ:FLNC), has been selected by ENGIE to deliver a 35 MW / 100 MWh battery-based energy storage project at the Maxima power plant in Lelystad, the Netherlands. The advanced battery energy storage project is located at a site with different types of power generation. It is expected to come into operation in 2025. The project is anticipated to provide critical flexibility to the Dutch electr ...

PhonlamaiPhoto Thesis Fluence Energy, Inc. (NASDAQ:FLNC) is a pure-play, Energy Storage global leader. Specifically, the company provides battery electric storage systems (BESS), software solutions, and service packages. I presented Fluence in a previous article and set a strong buy rating. While still holding 75% of my long-term position, providing having been a buyer at ~$6.75, I decided to sell ~25% of my position at ~$31 for a more than lucrative profit (one of the few times I almost perfectly timed ...

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Fluence Energy, Inc. (“Fluence” or the “Company”) (NASDAQ:FLNC). The investigation concerns whether Fluence and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. [Click here to learn more about the investigation] On February 22, 2024, Blue Orca Capital published a report alleging that “ undisclosed to investors, the U.S. affiliate ...

OAKLAND, Calif.--(BUSINESS WIRE)--Shares of Fluence Energy, Inc. (“Fluence”) dropped as much as 21% in intraday trading on February 22, 2024, after market analyst Blue Orca Capital issued a report claiming Fluence failed to disclose to investors that Siemens, the U.S. affiliate of Fluence’s largest shareholder and corporate parent, had filed a lawsuit against Fluence alleging “fraud” and “a laundry list” of other misconduct. Gibbs Law Group is investigating a potential Fluence Securities Class Action Lawsui ...

ARLINGTON, Va., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. ("Fluence" or "the Company") (NASDAQ:FLNC), a leading global provider of energy storage products, services, and optimization software for renewables and storage, today issued a statement in response to a report published by a known short-seller. The Company believes that the report is an attempt by a self-interested short-seller to profit at the expense of Fluence's shareholders by manipulating Fluence's stock price. We believe that the ...