Fluence Energy, Inc. FLNC

Technology SIC 3690 - Miscellaneous Electrical Machinery, Equipment & Supplies NAICS Manufacturing › Electrical Equipment, Appliance, and Component Manufacturing › Other Electrical Equipment and Component Manufacturing derived Nasdaq

Fluence Energy, Inc., a Delaware corporation (the "Company"), was initially formed on June 21, 2021 and completed its initial public offering (the "IPO") on November 1, 2021. We conduct our business operations through Fluence Energy, LLC and its direct and indirect subsidiaries. Fluence Energy, LLC was formed on June 30, 2017 as a joint venture between Siemens Industry, Inc. ("Siemens Industry"), an indirect subsidiary of Siemens AG ("Siemens"), and AES Grid Stability, LLC ("AES Grid Stability"), an indirect subsidiary of The AES Corporation ("AES"), and commenced operations on January 1, 2018. We refer to Siemens Industry and AES Grid Stability as the "Founders" in this Annual Report and together with Qatar Holding LLC ("QHL"), an affiliate of the Qatar Investment Authority ("QIA"), they are collectively referred to as the "Continuing Equity Owners." As the sole managing member of Fluence Energy, LLC, Fluence Energy, Inc. operates and controls all the business and affairs of Fluence Energy, LLC and its direct and indirect subsidiaries. As a result, Fluence Energy, Inc. consolidates Fluence Energy, LLC and records a non-controlling interest in its consolidated financial statements for the economic interest in Fluence Energy, LLC held by the Founders. Except where the content clearly indicates otherwise, any reference in this Annual Report to "Fluence," "we," "us," "our" or "the Company" refers to Fluence Energy, Inc. and all of its direct and indirect subsidiaries, including Fluence Energy, LLC.

Last close 5.59 2026-10-23
Market cap $772.1M estimated share count
52-week range 5.50 - 33.51

Valuation FY2025 figures against the last close

P/S0.3x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.37

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Revenue $2.26B$2.70B$2.22B$1.20B$680.8M$561.3M—
Cost of revenue $1.97B$2.36B$2.08B$1.26B$749.9M$553.4M—
Gross profit $295.8M$341.1M$141.0M-$62.4M-$69.1M$7.9M—
R&D $86.2M$66.2M$66.3M$60.1M$23.4M$11.5M—
SG&A $163.1M$173.0M$136.3M$116.7M$38.2M$17.9M—
Interest expense —$5.7M$5.4M$326.0K$1.4M$128.0K—
Pre-tax income -$45.1M$39.6M-$100.3M-$287.8M-$160.2M-$40.3M—
Income tax $22.9M$9.2M$4.5M$1.4M$1.8M$6.4M—
Net income -$48.3M$22.7M-$69.6M-$104.5M-$162.0M-$46.7M—
EPS, basic -0.370.18-0.60-1.50———
EPS, diluted -0.370.13-0.60-1.50———
Shares, diluted (wtd. avg.) 130.3M184.0M116.4M69.7M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Cash and equivalents $690.8M$448.7M$462.7M$429.7M$38.1M$95.1M$87.0M
Short-term investments —$0$0$110.4M$0——
Receivables $272.8M$216.5M$103.4M$86.8M$57.4M——
Inventory $455.0M$182.6M$224.9M$652.7M$389.8M——
Total current assets $2.06B$1.68B$1.19B$1.60B$661.5M——
Property, plant and equipment $50.3M$15.3M$12.8M$13.8M$8.2M——
Goodwill $28.6M$27.5M$26.0M$24.9M$9.2M$4.7M—
Other intangibles $63.4M$60.0M$55.8M$51.7M$36.1M——
Total assets $2.36B$1.90B$1.35B$1.75B$717.7M——
Accounts payable $321.0M$436.7M$65.4M$304.9M$158.4M——
Short-term debt $0$30.4M$22.5M$0———
Total current liabilities $1.37B$1.26B$745.7M$1.11B$771.5M——
Long-term debt —$0$28.0M$0———
Total liabilities $1.81B$1.30B$795.8M$1.12B$773.9M——
Retained earnings -$199.8M-$151.4M-$174.2M-$104.5M-$279.3M——
Total equity $429.6M$472.1M$556.3M$629.2M———

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating cash flow -$145.5M$79.7M-$111.9M-$282.4M-$265.3M-$14.0M—
Depreciation and amortisation $29.3M$14.5M$10.7M$7.1M$5.1M$500.0K—
Stock-based compensation $19.5M$23.9M$26.9M$44.1M$0——
Capital expenditure $14.9M$8.1M$3.0M$7.9M$4.3M$1.8M—
Investing cash flow -$29.8M-$19.0M$94.4M-$148.4M-$22.3M$18.2M—
Financing cash flow $356.9M-$8.7M$52.6M$817.1M$231.1M$2.5M—
Buybacks —$1.7M$2.8M$5.0M$0$0—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001868941-25-000081.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2020: 561.3M Gross profit, FY2020: 7.9M Net income, FY2020: -46.7M Revenue, FY2021: 680.8M Gross profit, FY2021: -69.1M Net income, FY2021: -162M Revenue, FY2022: 1.2B Gross profit, FY2022: -62.4M Net income, FY2022: -104.5M Revenue, FY2023: 2.2B Gross profit, FY2023: 141M Net income, FY2023: -69.6M Revenue, FY2024: 2.7B Gross profit, FY2024: 341.1M Net income, FY2024: 22.7M Revenue, FY2025: 2.3B Gross profit, FY2025: 295.8M Net income, FY2025: -48.3M FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $561.3M $680.8M $1.20B $2.22B $2.70B $2.26B
Gross profit — $7.9M -$69.1M -$62.4M $141.0M $341.1M $295.8M
Net income — -$46.7M -$162.0M -$104.5M -$69.6M $22.7M -$48.3M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Item 5.02
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Other event Item 8.01
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement signed Item 1.01
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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