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Sep 30, 2024
Fluence Q4 2024 Earnings Report
Fluence reported record performance driven by dedication, operational efficiency, and commitment to delivering value.
Key Takeaways
Fluence Energy, Inc. reported record revenue for fiscal year 2024 of approximately $2.7 billion and revenue for the fourth quarter of approximately $1.2 billion, representing an increase of approximately 22% from fiscal year 2023 and an increase of approximately 82% from the same quarter last year, respectively. Net income for the fourth quarter improved to $67.7 million. Quarterly order intake was approximately $1.2 billion, and backlog increased to approximately $4.5 billion.
Record revenue for fiscal year 2024 of approximately $2.7 billion and revenue for the fourth quarter of approximately $1.2 billion, representing an increase of approximately 22% from fiscal year 2023 and an increase of approximately 82% from the same quarter last year, respectively.
GAAP gross profit margin improved to approximately 12.8% for the fourth quarter compared to approximately 11.3% for the same quarter last year.
Net income of approximately $67.7 million for the fourth quarter, improved from net income of approximately $4.8 million, for the same quarter last year.
Quarterly order intake of approximately $1.2 billion, compared to approximately $737 million for the same quarter last year.
Fluence
Fluence
Forward Guidance
The Company is initiating fiscal year 2025 guidance as follows:
Positive Outlook
- Revenue of approximately $3.6 billion to $4.4 billion with a midpoint of $4.0 billion.
- Approximately 65% of the midpoint of the Company's revenue guidance is covered by the Company's current backlog, in line with our fiscal 2024 revenue coverage at the same time period last year.
- Adjusted EBITDA of approximately $160 million to $200 million with a midpoint of $180 million.
- Annual recurring revenue ("ARR") of about $145 million by the end of fiscal year 2025.