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Mar 31, 2023
Fluence Q2 2023 Earnings Report
Fluence reported record quarterly revenue with improved gross profit margin, and a reduced net loss compared to the same quarter last year. The company is raising its full fiscal year 2023 guidance.
Key Takeaways
Fluence Energy, Inc. announced record quarterly revenue of approximately $698 million, a 104% increase year-over-year. The company's GAAP gross profit margin improved to approximately 4.4%, and the net loss decreased to $37.4 million. Due to this strong performance, Fluence is raising its Fiscal Year 2023 guidance.
Record quarterly revenue of approximately $698 million, up 104% year-over-year.
GAAP gross profit margin improved to approximately 4.4%.
Net loss decreased to $37.4 million compared to $60.7 million for the same quarter last year.
The company is raising its Fiscal Year 2023 guidance range to $1.85 billion to $2.0 billion for revenue and $110 million to $135 million for adjusted gross profit.
Fluence
Fluence
Forward Guidance
The Company is increasing its fiscal year 2023 total revenue guidance range to $1.85 billion to $2.0 billion. Furthermore, the Company is increasing its fiscal year 2023 adjusted gross profit guidance range to $110 million to $135 million. Expect to be close to Adjusted EBITDA breakeven in the fourth fiscal quarter of 2023.
Positive Outlook
- Raising Fiscal Year 2023 revenue guidance range to $1.85-$2.0B.
- Raising Fiscal Year 2023 adjusted gross profit guidance range to $110-$135M.
- Pulling forward profitability timeline.
- Expect to be close to Adjusted EBITDA breakeven in the fourth fiscal quarter of 2023.