$FLNC

Fluence Energy, Inc.

CIK:0001868941|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenue	$ 649,848	$ 602,533	$ 1,589,973	$ 1,220,939
Cost of goods and services	616,607	513,434	1,487,053	1,068,057
Gross profit	33,241	89,099	102,920	152,882
Operating expenses:
Research and development	23,740	26,011	63,351	65,325
Sales and marketing	25,300	19,822	70,600	59,213
General and administrative	37,735	35,603	116,809	113,722
Depreciation and amortization	3,986	3,628	12,010	9,386
Interest (income) expense, net	(2,915)	1,083	1,219	733
Other income, net	(11,101)	(8,519)	(19,392)	(4,315)
(Loss) income before income taxes	(43,504)	11,471	(141,677)	(91,182)
Income tax expense (benefit)	772	4,577	(5,574)	869
Net (loss) income	(44,276)	6,894	(136,103)	(92,051)
Net (loss) income attributable to non-controlling interest	(11,459)	642	(37,289)	(25,791)
Net (loss) income attributable to Fluence Energy, Inc.	$ (32,817)	$ 6,252	$ (98,814)	$ (66,260)
Weighted average number of Class A common shares outstanding:
Basic (in shares)	138,129,139	130,723,258	134,060,941	130,062,109
Diluted (in shares)	138,129,139	183,645,493	134,060,941	130,062,109
(Loss) income per share of Class A common stock:
Basic (in usd per share)	$ (0.24)	$ 0.05	$ (0.74)	$ (0.51)
Diluted (in usd per share)	$ (0.24)	$ 0.01	$ (0.74)	$ (0.51)
Nonrelated Party
Total revenue	$ 600,180	$ 566,926	$ 1,317,908	$ 947,532
Related Party
Total revenue	49,668	35,607	272,065	273,407
Cost of goods and services	4,614	45,931	13,559	72,785
Operating expenses:
Research and development	76	0	84	5
Sales and marketing	13	0	92	0
General and administrative	$ 465	$ 131	$ 2,402	$ 1,243

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (136,103)	$ (92,051)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	30,723	18,929
Amortization of debt issuance costs	3,712	3,072
Inventory provision	(6,756)	(811)
Stock-based compensation	14,118	15,459
Deferred income taxes	(119)	5,814
Changes in operating assets and liabilities:
Trade receivables, net	(77,924)	64,761
Unbilled receivables	(85,919)	22,357
Receivables from related parties	91,826	204,158
Advances to suppliers	(99,644)	(38,415)
Inventory	(321,405)	(469,694)
Other current assets	(75,985)	20,524
Other non-current assets	(11,552)	(23,504)
Accounts payable	(22,215)	(180,842)
Accruals and provisions	26,317	(118,359)
Taxes payable	(15,037)	(56,187)
Other current liabilities	10,703	(65,617)
Other non-current liabilities	12,121	5,029
Net cash used in operating activities	(366,534)	(411,281)
Investing activities
Capital expenditures on software and other	(11,656)	(10,023)
Purchase of property and equipment	(9,678)	(10,024)
Issuance of note receivable	(30,000)	0
Proceeds from sale of equity method investment	3,686	0
Net cash used in investing activities	(47,648)	(20,047)
Financing activities
Class A common stock withheld related to settlement of employee taxes for stock-based compensation awards	(2,717)	(490)
Proceeds from issuance of 2030 Convertible Senior Notes	0	400,000
Purchases of Capped Calls related to 2030 Convertible Senior Notes	0	(29,000)
Payment for debt issuance costs	(1,704)	(12,132)
Purchases under supply chain financing arrangements	101,937	0
Repayments of obligations under supply chain financing arrangements	(24,751)	0
Proceeds from exercise of stock options	3,470	1,767
Distribution to AES Grid Stability	0	(1,035)
Principal payments on finance leases	(4,180)	(465)
Net cash provided by financing activities	72,055	358,645
Effect of exchange rate changes on cash and cash equivalents	(7,545)	13,865
Net decrease in cash, cash equivalents, and restricted cash	(349,672)	(58,818)
Cash, cash equivalents, and restricted cash as of the beginning of the period	364,958	459,888
Cash, cash equivalents, and restricted cash as of the end of the period	714,630	518,706
Supplemental Cash Flows Information
Interest paid	14,112	7,876
Cash paid (refund) on income taxes	19,016	(1,429)
Related Party
Changes in operating assets and liabilities:
Deferred revenue	(22,379)	9,598
Nonrelated Party
Changes in operating assets and liabilities:
Deferred revenue	$ 318,984	$ 264,498

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Sep. 30, 2025
Current assets:
Cash and cash equivalents	$ 339,328	$ 690,768
Restricted cash	25,630	23,862
Trade receivables, net	350,134	272,820
Unbilled receivables	328,210	239,594
Receivables from related parties	108,922	200,748
Advances to suppliers	226,390	126,778
Inventory, net	783,031	455,015
Other current assets	162,861	54,671
Total current assets	2,324,506	2,064,256
Non-current assets:
Property and equipment, net	43,506	50,320
Intangible assets, net	64,221	63,403
Goodwill	28,297	28,584
Deferred income tax asset	2,878	4,046
Other non-current assets	152,195	146,391
Total non-current assets	291,097	292,744
Total assets	2,615,603	2,357,000
Current liabilities:
Accounts payable	295,056	321,004
Personnel related liabilities	44,189	31,850
Accruals and provisions	274,935	246,235
Taxes payable	15,186	30,317
Other current liabilities	90,661	20,590
Total current liabilities	1,734,049	1,370,369
Non-current liabilities:
Deferred income tax liability	9,101	9,530
Convertible senior notes, net	392,164	390,804
Other non-current liabilities	49,065	37,449
Total non-current liabilities	450,330	437,783
Total liabilities	2,184,379	1,808,152
Stockholders’ Equity:
Preferred stock, $0.00001 per share, 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and September 30, 2025	0	0
Treasury stock, at cost	(12,930)	(10,213)
Additional paid-in capital	670,321	627,956
Accumulated other comprehensive income	14,394	11,613
Accumulated deficit	(298,576)	(199,762)
Total stockholders’ equity attributable to Fluence Energy, Inc.	373,210	429,595
Non-Controlling interests	58,014	119,253
Total stockholders’ equity	431,224	548,848
Total liabilities and stockholders’ equity	2,615,603	2,357,000
Nonrelated Party
Current liabilities:
Deferred revenue	956,491	640,457
Related Party
Current assets:
Receivables from related parties	8,472	26,615
Advances to suppliers	6,271	9,603
Current liabilities:
Accounts payable	2,680	4,985
Deferred revenue	57,531	79,916
Accruals and provisions	2,106	6,353
Other current liabilities	0	301
Class A common stock
Stockholders’ Equity:
Common stock	1	1
Class B-1 common stock
Stockholders’ Equity:
Common stock	0	0
Class B-2 common stock
Stockholders’ Equity:
Common stock	$ 0	$ 0