Fluence Energy reported a significant increase in revenue driven by strong demand in data centers, utilities, and industrial loads, leading to a record backlog. Despite revenue growth, the company experienced a net loss and negative Adjusted EBITDA, with gross margins impacted by additional project costs. Management reaffirmed full-year guidance, citing a clear line of sight on project costs and a backlog covering revenue expectations.
Revenue increased by approximately 154.4% to $475.2 million compared to the same quarter last year.
positiveSigned over $750 million of order intake during the first quarter, bringing backlog to a record $5.5 billion as of December 31, 2025.
positiveTotal cash of approximately $477.8 million as of December 31, 2025, with total liquidity of approximately $1.1 billion.
positivePipeline has grown by approximately 30% to $30 billion since September 2025.
positiveNet loss of approximately $62.6 million, an increase from $57.0 million in the prior year's quarter.
negativeAdjusted EBITDA was approximately $(52.1) million, a decrease from $(49.7) million in the prior year's quarter.
negativeGAAP gross profit margin was approximately 4.9%, down from 11.4% in the prior year's quarter, impacted by additional estimated costs on two projects.
attentionAdjusted gross profit margin decreased to 5.6% from 12.5% in the prior year's quarter.
attentionNet cash used in operating activities was $(226.8) million for the quarter.
negativeFree Cash Flow was $(232.6) million for the quarter.
negativeMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Accelerating data center growth, utility demand and rising industrial loads continue to drive energy storage demand globally, reflected in our pipeline which has grown by approximately 30% to $30 billion since September, 2025.
We have been preparing for this inflection in growth with our expanded sales effort, global supply chain and domestic content strategy, which are driving our ability to deliver competitive products to customers around the world.
With our revenue expectation now covered by backlog and a clear line of sight on project costs, we are reaffirming our fiscal year 2026 guidance.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.