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Mar 31, 2022
Fluence Q2 2022 Earnings Report
Fluence reported robust top-line performance and order intake, highlighting strong demand for energy storage.
Key Takeaways
Fluence Energy, Inc. reported a record revenue of $343 million for the second fiscal quarter, a 249% increase year-over-year. The company experienced a net loss of $(61) million, compared to a net loss of $(24) million in the same quarter last year. Strong order intake and backlog conversion were key highlights, with a total backlog of $2.2 billion as of March 31, 2022.
Entered into 582 MW of energy storage product contracts, demonstrating strong demand.
Entered into 343 MW of energy service contracts.
Entered into a record 2,791 MW of Fluence IQ digital contracts.
Achieved substantial completion on four Gen 6 products totaling 191 MW.
Forward Guidance
The Company reaffirms previously provided fiscal year 2022 total revenue guidance between $1.1 billion to $1.3 billion. Based on the ongoing COVID-19 related lockdowns in China resulting in energy storage product shipping delays, we see an increased risk that some of our anticipated project-related revenue will shift into the next fiscal year. As a result, we anticipate that our fiscal year 2022 total revenue will trend near the lower end of our previously announced guidance range.
Challenges Ahead
- Ongoing COVID-19 related lockdowns in China are resulting in energy storage product shipping delays.
- There is an increased risk that some of the anticipated project-related revenue will shift into the next fiscal year.
- Fiscal year 2022 total revenue is expected to trend near the lower end of the previously announced guidance range.
- New supply chain environment has elongated expectations for project completion and revenue recognition
- COVID-19 driven lockdown in China, delaying production of certain components scheduled for the near term
Historical Earnings Impact
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Avg. Return Before/After Earnings
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