Fluence Energy reports record order intake in Q3 FY2024

Fluence Energy announced its Q3 FY2024 results, showcasing a record quarterly order intake of $1.3 billion and a record backlog of $4.5 billion. Although revenue decreased by 10% year-over-year to $483.3 million, the company demonstrated strong improvements in profitability. The GAAP gross profit margin increased significantly to 17.2% from 4.1% the previous year, and net income reached $1.1 million, a substantial turnaround from a $35 million loss. Adjusted EBITDA also improved, rising to $15.6 million from a negative $27.5 million.

Fluence updated its FY2024 guidance, narrowing its revenue expectations to $2.7-$2.8 billion and Adjusted EBITDA to $55-$65 million. The company also increased its Annual Recurring Revenue (ARR) guidance to approximately $100 million. Additionally, Fluence secured a $500 million revolving credit facility, enhancing its liquidity to support ongoing growth.