Fluence Energy Q2 FY23 revenue $698M (+104% YoY); raises FY guidance to $1.85-$2.0B

Fluence Energy, Inc.

2023-Q2 EPS reported -$0.43 revenue$1,008,646,000

Record quarterly revenue of $698M, up 104% YoY; GAAP gross profit margin improved to 4.4% from (4.3%).
Net loss narrowed to $37.4M from $60.7M; Adjusted EBITDA improved to $(24.8)M from $(53.2)M.
Total backlog $2.8B as of March 31, 2023, up from $2.7B at Dec 31, 2022.
Raising FY 2023 guidance: revenue $1.85-$2.0B, adjusted gross profit $110-$135M.
Expects to be near Adjusted EBITDA breakeven in Q4 fiscal 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fluence Energy, Inc. reported fiscal year 2023 results: revenue $1.85-$2.0B. Guidance raised.

Period: fiscal year 2023
Revenue: $1.85-$2.0B
Guidance: raised
Result: guidance update

Exact text from the filing

We are raising our Fiscal Year 2023 guidance range to $1.85-$2.0B for revenue and $110-$135M for adjusted gross profit 3 due to select project timing acceleration. • We are pulling forward our profitability timeline and now expect to be close to Adjusted EBITDA breakeven in the fourth fiscal quarter of 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fluence Energy, Inc. reported fiscal second quarter 2023 results: revenue $698 million, net income -$37.4 million.

Period: fiscal second quarter 2023
Revenue: $698 million
Net income: -$37.4 million
Result: reported results

Exact text from the filing

Financial Highlights for Second Fiscal Quarter of 2023 • Record quarterly revenue of approximately $698 million which represents an increase of 104% year-over-year. • GAAP gross profit margin improved to approximately 4.4%, compared to approximately negative 4.3% for the same quarter last year. • Adjusted gross profit margin 1 improved to approximately 4.6%, compared to approximately negative 3.3% for the same quarter last year. • Net loss of $37.4 million, compared to net loss of $60.7 million for the same quarter last year. • Adjusted EBITDA 1 of negative $24.8 million, compared to negative $53.2 million for the same quarter last year. • Total backlog 2 of $2.8 billion as of March 31, 2023, compared to $2.7 billion as of December 31, 2022.

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Source: SEC EDGAR

accession 0001868941-23-000041

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