From GlobeNewswire: 2024-11-25 16:26:00

Fluence Energy, Inc. reported record revenue of $2.7 billion for fiscal year 2024, marking a 22% increase from the previous year. Gross profit margin improved to 12.6%, with net income of $30.4 million. Quarterly order intake reached $1.2 billion, and backlog increased to $4.5 billion. Cash position was $518.7 million.

For Fiscal Year 2025, Fluence projects revenue of $3.6 billion to $4.4 billion, adjusted EBITDA of $160 million to $200 million, and annual recurring revenue of about $145 million. The company’s backlog covers 65% of the revenue guidance, reflecting confidence in future growth opportunities.

Fluence’s President and CEO, Julian Nebreda, highlighted the company’s strong financial performance and growing demand for battery energy storage solutions. CFO Ahmed Pasha noted positive net income for the first time and strong year-end results, positioning the company for sustained growth.

Fluence will conduct a teleconference on November 26, 2024, to discuss the financial results. Analysts and general audience participants can register to join the call or listen in a listen-only mode via webcast. A replay will be available on the company’s website.

Key operating metrics for fiscal year 2024 include 5.0 GW of deployed energy storage products, 4.3 GW of service contracts under management, and 18.3 GW of digital contracts under management. Order intake for the year totaled 5.2 GW for energy storage products, 3.0 GW for service contracts, and 8.6 GW for digital contracts.

Non-GAAP measures showed significant growth, with adjusted EBITDA of $86.9 million for the quarter, adjusted gross profit of $159.3 million, and free cash flow of $71.6 million for the fiscal year. These metrics reflect Fluence’s strong financial performance and strategic growth initiatives.



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