Fluence Energy, Inc.

NASDAQ•FLNC

CEO: Mr. Julian Jose Nebreda Marquez

Sector: Utilities

Industry: Renewable Utilities

Listing Date: 2021-10-28

Fluence Energy, Inc., through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence. Its energy storage products include Gridstack Pro, a large-scale front-of-the-meter application; Gridstack, a front-of-the-meter application; Sunstack, a DC-coupled energy storage product for DC-coupled solar + storage projects; Edgestack, for smaller-scale commercial and industrial use cases; and Ultrastack, for critical system requirements of distribution and transmission networks. The company also provides engineering and delivery services to support the deployment of its storage products; operational and maintenance services; and digital applications. It serves independent power producers, developer, utilities, and other generators. Fluence Energy, Inc. was founded in 2018 and is headquartered in Arlington, Virginia. Fluence Energy, Inc. is a joint venture of Siemens Aktiengesellschaft and The AES Corporation.

Contact Information

4601 Fairfax Drive, Suite 600, Arlington, VA, 22203, United States

833-358-3623

fluenceenergy.com

Market Cap

$3.02B

P/E (TTM)

-41.6

43.8

Dividend Yield

52W High

$33.51

52W Low

$3.46

52W Range

43%

Rank50Top 68.9%

3.1

F-Score

Modified Piotroski Analysis

Based on 7-year fundamentals

Weak • 3.1 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2019-2025

Financial Dashboard

Q1 2026 Data

Revenue

$475.23M+0.00%

4-Quarter Trend

EPS

-$0.34+0.00%

4-Quarter Trend

FCF

-$236.14M+0.00%

4-Quarter Trend

2026 Q1 Earnings Highlights

Key Highlights

Revenue Surges 154% Total revenue $475.2M, surging 154% versus prior year. Driven by increased volume in energy storage solutions projects fulfilled.

Gross Margin Compression Noted Gross profit $23.0M, up 9%. Margin compressed significantly to 4.9% due to cost increases and contract revisions.

Digital Backlog Strong Growth Digital contracted backlog grew 21% to 14.6 GW. Total backlog remains robust with $5.5B remaining performance obligations.

Cash Position Maintained Operating cash usage $226.8M, up $15.6M period over period. Ending cash $477.8M, sufficient for next 12 months.

Risk Factors

Profitability Margin Erosion Gross margin compressed to 4.9% from 11.4%. Cost increases and contract revisions negatively impacted profitability metrics.

Net Loss Widens Net loss increased 10% to $(62.6M) for the quarter. Operating cash outflow increased $15.6M compared to prior period.

Pending Litigation Exposure Multiple securities class actions and derivative suits are pending. Outcome uncertainty could materially impact financial results.

Pipeline Realization Uncertainty Pipeline revenue realization remains uncertain. Project delays or cancellations could reduce anticipated future revenue and profitability.

Outlook

Industry Growth Forecast Global utility scale market expected to add 3,201 GWh through 2035. Growth fueled by renewable energy transition.

R&D Investment Continues R&D expenses expected to increase supporting growth and technology roadmap goals, including new product testing facilities.

Liquidity Coverage Confirmed Existing cash $477.8M plus 2024 Revolver availability deemed sufficient for next 12 months operational requirements.

New Tax Disclosure Adoption Evaluating impact of ASU 2023-09 on income tax disclosures, effective for fiscal year ending September 30, 2026.

Peer Comparison

Revenue (TTM)

$3.09B

+2.5%

FLNC

$2.55B

+1.2%

AVA

$1.96B

+1.4%

Gross Margin (Latest Quarter)

MGEE

199.4%

-15.2pp

CPK

72.2%

+1.1pp

RNW

56.6%

-13.9pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
KEN	$4.13B	9.2	31.3%	29.3%
EE	$3.95B	14.2	12.2%	34.6%
OTTR	$3.58B	12.9	15.4%	27.8%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

3.3%

Moderate Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

25%

Cash Flow Needs Attention

Deep Research

Next earnings:May 5, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data