Fluence Q1 revenue up 78% to $310.5M; net loss narrows to $37.2M; raises FY23 guidance

Fluence Energy, Inc.

2023-Q1 EPS reported -$0.21 revenue$310,460,000

Revenue $310.5M (+78% YoY); GAAP gross margin 3.9% vs -30.4% prior year.
Net loss improved to $37.2M from $111.5M; Adjusted EBITDA -$25.5M from -$42.8M.
Total backlog $2.7B, up from $2.2B at Sept 30, 2022.
Raising FY23 revenue guidance midpoint by $150M and adj. gross profit midpoint by $20M.
Company adds Northvolt batteries to Generation 6 Cubes, expanding supply optionality.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fluence Energy, Inc. reported first fiscal quarter of fiscal year 2023 results: revenue $310.5 million, net income Net loss of $37.2 million. Guidance raised.

Period: first fiscal quarter of fiscal year 2023
Revenue: $310.5 million
Net income: Net loss of $37.2 million
Guidance: raised
Result: reported results

Exact text from the filing

for renewables and storage, today announced its results for the three months ended December 31, 2022. Financial Highlights for First Fiscal Quarter of 2023 • Revenue of $310.5 million which represents an increase of 78% year-over-year. • GAAP gross profit margin improved to approximately 3.9% including previously disclosed settlement of liquidated damages

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Source: SEC EDGAR

accession 0001868941-23-000019

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