Fluence posts record $1.3B quarterly order intake, $4.5B backlog; net income turns positive

Fluence Energy, Inc.

2024-Q3 EPS reported -$0.20 revenue$1,470,414,000

Revenue of $483.3M, down 10% YoY; GAAP gross margin improved to 17.2% from 4.1%.
Net income of $1.1M vs net loss of $35.0M YoY; Adjusted EBITDA $15.6M vs -$27.5M.
Record quarterly order intake of $1.3B, up from $565M; backlog of $4.5B sequentially higher.
Total cash $513.3M; free cash flow $64.3M in 9 months (vs -$162.4M prior year).
Converted $400M ABL into $500M revolver in August 2024 for added liquidity.

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