Fluence (FLC) investor relations material

Executive summary

• Achieved a significant turnaround in FY 2025, with revenue up 52.3% to $78.4M and Q4 revenue of $26.0M, reflecting strategic realignment, operational improvements, and a focus on SPS and recurring revenue.

• Leadership transition completed with new CEO, CFO, and key hires to drive commercial expansion and operational capabilities.

• Over 1,000 global installations and strong ESG impact with energy-efficient technologies.

• Built a global management team and improved cross-border execution, driving record orders and profitability.

• Focused on large, high-growth end markets, including North America, SEA & China, and industrial water reuse.

Financial highlights

• FY 2025 revenue reached $78.4M, up 52.3% year-over-year; Q4 revenue was $26.0M, up 22.7% from Q4 2024.

• EBITDA for FY 2025 was $4.0M, a turnaround from a $4M loss in 2024; Q4 EBITDA was $2.7M.

• Gross margin held steady at 29.9% despite increased low-margin project revenue.

• Operating cash flow for FY 2025 was $10.9M; year-end cash balance was $16.6M plus $4.1M in security deposits.

• Debt repayments totaled $2.5M in FY 2025.

Outlook and guidance

• Expects double-digit revenue growth in FY 2026, even with reduced Ivory Coast Addendum revenue.

• Anticipates continued gross margin expansion and strong EBITDA growth, but will not issue discrete FY 2026 guidance.

• Negative operating cash flow expected in Q1 2026 due to timing of Ivory Coast payables; positive cash flow to resume from Q2 2026.