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Fluence Energy (FLNC) investor relations material
Fluence Energy Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary25 Nov, 2025
Executive summary
Achieved record Q4 order intake of over $1.4 billion, driving backlog to $5.3 billion and supporting strong revenue visibility for 2026 and beyond.
FY2025 revenue was $2.263 billion, down from $2.7 billion in FY2024, mainly due to U.S. production delays at the Arizona facility.
Adjusted gross margin reached a record 13.7% for FY2025, with adjusted EBITDA of $19.5 million at the top end of guidance.
Year-end liquidity stood at $1.3 billion, including $700–$715 million in cash, the highest in company history.
Annual recurring revenue (ARR) reached $148 million, up 50% year-over-year and slightly above guidance.
Financial highlights
FY2025 revenue was $2.263 billion, down from $2.7 billion in FY2024, primarily due to U.S. production delays.
Adjusted gross profit margin for FY2025 was 13.7%, up from 12.9% in FY2024.
Adjusted EBITDA for FY2025 was $19.5 million, down from $78 million in FY2024.
GAAP net loss for FY2025 was $68 million, compared to net income of $30 million in FY2024.
Q4 order intake reached $1.433 billion, with significant contributions from all regions.
Outlook and guidance
FY2026 revenue guidance is $3.2–$3.6 billion, with 85% of the midpoint already in backlog.
Adjusted gross margin expected between 11–13% for FY2026, reflecting higher costs from new product rollouts.
Adjusted EBITDA guidance for FY2026 is $40–$60 million, with a midpoint of $50 million.
ARR expected to reach $180 million by end of FY2026, over 20% year-over-year growth.
Management targets 50% revenue growth for FY2026.
How will record backlog translate to 50% FY26 revenue growth?
What drives negative FY25 Free Cash Flow despite liquidity?
Address the significant decline in Digital Contracts order intake
Data center pipeline conversion timeline and margins
AESC PFE compliance resolution impact on FY26
Drivers for FY26 gross margin decline vs. FY25
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Next Fluence Energy earnings date
Q1 202610 Feb, 2026
Next Fluence Energy earnings date
Q1 202610 Feb, 2026
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Frequently asked questions
Fluence Energy, Inc. is a U.S.-based global provider of energy storage products and services, as well as digital applications for renewable energy management. The company offers advanced battery-based energy storage solutions to support grid reliability, renewable energy integration, and decarbonization efforts. Fluence also provides energy management software and services, enabling optimized energy storage and renewable energy asset performance. The company is headquartered in Arlington, Virginia, and its shares are listed on the NASDAQ.
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