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Dec 31, 2022
Fluence Q1 2023 Earnings Report
Fluence reported a strong first quarter in fiscal year 2023, marked by increased revenue, improved gross profit margins, and a growing backlog.
Key Takeaways
Fluence Energy, Inc. announced its results for the three months ended December 31, 2022, with a revenue of $310.5 million, representing a 78% increase year-over-year. The company's GAAP gross profit margin improved to approximately 3.9%, and the adjusted gross profit margin improved to approximately 4.7%. The company is raising its fiscal year 2023 total revenue guidance to approximately $1.6 billion to $1.8 billion.
Revenue increased by 78% year-over-year, reaching $310.5 million.
GAAP gross profit margin improved to approximately 3.9%.
Total backlog increased to $2.7 billion as of December 31, 2022, from $2.2 billion as of September 30, 2022.
Fiscal year 2023 total revenue guidance increased to approximately $1.6 billion to $1.8 billion.
Fluence
Fluence
Forward Guidance
The Company is increasing its fiscal year 2023 total revenue guidance to approximately $1.6 billion to $1.8 billion and is increasing its fiscal year 2023 adjusted gross profit guidance to approximately $85 million to $115 million.
Positive Outlook
- Raising fiscal year 2023 total revenue guidance midpoint by $150 million.
- Raising adjusted gross profit guidance midpoint by $20 million.
- Incremental demand.
- Stronger supply chain visibility.
- High confidence in ability to become adjusted EBITDA positive in fiscal year 2024.