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Mar 31, 2024
Fluence Q2 2024 Earnings Report
Fluence reported strong financial performance highlighted by cash generation.
Key Takeaways
Fluence reported Q2 revenue of $623.1 million and increased its total cash position to more than $540 million. The company achieved its third consecutive quarter of double-digit gross margins.
Revenue was approximately $623.1 million, a decrease of approximately 11% from the same quarter last year.
GAAP gross profit margin improved to approximately 10.3%, compared to 4.4% for the same quarter last year.
Net loss improved to approximately $12.9 million, from a net loss of $37.4 million for the same quarter last year.
Total cash of approximately $541.5 million, representing an increase of approximately $79 million from September 30, 2023.
Forward Guidance
The Company is reaffirming its fiscal year 2024 total revenue and Adjusted EBITDA guidance ranges of $2.7 billion to $3.3 billion and $50 million to $80 million, respectively. In addition, the Company is reaffirming its fiscal year 2024 annual recurring revenue (ARR) guidance of approximately $80 million.
Positive Outlook
- Reaffirming fiscal year 2024 total revenue guidance of $2.7 billion to $3.3 billion.
- Reaffirming fiscal year 2024 Adjusted EBITDA guidance of $50 million to $80 million.
- Approximately 90% of the midpoint of the fiscal year 2024 revenue guidance is covered by the Company's current backlog plus revenue recognized year to date.
- Reaffirming fiscal year 2024 annual recurring revenue (ARR) guidance of approximately $80 million.
- Company remains committed to delivering attractive revenue growth, while improving margins and operating cash flow.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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