Revenue growth remains highly volatile, with the company reporting a 16.15% decline in TTM revenue and a negative operating margin of -7.5% in 2026Q2.
| Revenue | 2.58B | 2.26B | 2.7B | 2.22B | 1.2B | 680.77M | 561.32M | 92.15M |
| Revenue Growth % | 10.93% | -16.15% | 21.67% | 85.05% | 76.07% | 21.28% | 509.13% | - |
| Cost of Revenue | 2.28B | 1.97B | 2.36B | 2.08B | 1.26B | 749.91M | 553.4M | 100.07M |
| Gross Profit | 301.68M | 295.79M | 341.08M | 140.96M | -62.35M | -69.14M | 7.92M | -7.92M |
| Gross Margin % | 11.67% | 13.07% | 12.64% | 6.36% | -5.2% | -10.16% | 1.41% | -8.59% |
| Gross Profit Growth % | - | -13.28% | 141.98% | 326.06% | 9.82% | -972.7% | 200.08% | - |
| Operating Expenses | 347.27M | 342.12M | 314.46M | 253.56M | 221.17M | 89.33M | 7.92M | -7.92M |
| Other Operating Expenses | - | - | - | - | - | - | - | - |
| EBITDA | -18.9M | -16.99M | 41.1M | -101.94M | -276.41M | -153.36M | -37.14M | -46.7M |
| EBITDA Margin % | -0.73% | -0.75% | 1.52% | -4.6% | -23.06% | -22.53% | -6.62% | -50.68% |
| EBITDA Growth % | -154.24% | -141.34% | 140.32% | 63.12% | -80.24% | -312.88% | 20.47% | - |
| Depreciation & Amortization | 26.69M | 29.34M | 14.48M | 10.66M | 7.11M | 5.11M | 3.02M | 2.89M |
| D&A / Revenue % | 1.03% | 1.3% | 0.54% | 0.48% | 0.59% | 0.75% | 0.54% | 3.14% |
| Operating Income (EBIT) | -45.59M | -46.34M | 26.62M | -112.61M | -283.52M | -158.47M | 0 | -49.59M |
| Operating Margin % | -1.76% | -2.05% | 0.99% | -5.08% | -23.65% | -23.28% | 0% | -53.82% |
| Operating Income Growth % | - | -274.06% | 123.64% | 60.28% | -78.91% | - | 100% | - |
| Interest Expense | 1000K | 0 | 0 | 0 | 2.02M | 1.44M | 128K | 7K |
| Interest Coverage | - | - | - | - | -140.50x | -110.62x | -313.76x | -6821.71x |
| Interest / Revenue % | 0.04% | 0% | 0% | 0% | 0.17% | 0.21% | 0.02% | 0.01% |
| Non-Operating Income | 0 | 1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K |
| Pretax Income | -40.59M | -45.07M | 39.57M | -100.27M | -287.82M | -160.17M | -40.29M | -47.76M |
| Pretax Margin % | -1.57% | -1.99% | 1.47% | -4.52% | -24.01% | -23.53% | -7.18% | -51.83% |
| Income Tax | 20.28M | 22.92M | 9.21M | 4.55M | 1.36M | 1.83M | 6.42M | -778K |
| Effective Tax Rate % | -49.96% | -50.85% | 23.26% | -4.54% | -0.47% | -1.14% | -15.94% | 1.63% |
| Net Income | -41.8M | -48.31M | 22.72M | -69.62M | -289.18M | -162M | -46.71M | -46.98M |
| Net Margin % | -1.62% | -2.14% | 0.84% | -3.14% | -24.13% | -23.8% | -8.32% | -50.98% |
| Net Income Growth % | -75.01% | -312.69% | 132.63% | 75.92% | -78.5% | -246.83% | 0.58% | - |
| EPS (Diluted) | -0.32 | -0.37 | 0.12 | -0.60 | -4.15 | -2.99 | -0.94 | -0.95 |
| EPS Growth % | -24.75% | -408.33% | 120% | 85.54% | -38.8% | -218.09% | 1.05% | - |
| EPS (Basic) | - | -0.37 | 0.18 | -0.60 | -4.15 | -2.99 | -0.94 | -0.95 |
| Diluted Shares Outstanding | 132.03M | 130.31M | 184.03M | 116.45M | 69.71M | 54.14M | 49.49M | 49.49M |
High exposure to supply chain volatility and project execution timing.
As reported in recent financial filings, Fluence Energy experienced a 16.15% decline in TTM revenue, reflecting the inherent lumpiness of project-based revenue recognition and the challenges of maintaining consistent delivery schedules across complex utility-scale energy storage deployments in the current macroeconomic environment.
The revenue trajectory appears highly sensitive to the timing of project milestones rather than steady-state utility demand. Investors should monitor whether the current revenue contraction indicates a structural slowdown in project conversion or merely a temporary delay in the realization of the contracted backlog.
Based on the company's reported income statements, the reliance on third-party battery cell procurement creates a structurally thin operating margin, which recently dipped to -7.5% in 2026Q2, highlighting the difficulty of achieving scale-based efficiencies in a hardware-heavy integrator business model.
The lack of vertical integration in battery manufacturing leaves the company vulnerable to commodity price fluctuations and trade policy shifts. Without a significant shift toward higher-margin software and service revenue, the operating cost structure may continue to impede the path to sustained profitability.
According to historical income statement data, Fluence's EPS has fluctuated significantly between positive and negative territory, with 2026Q2 reporting a loss of $0.16 per share, suggesting that core regulated earnings power remains elusive and heavily dependent on non-recurring project delivery milestones.
The inconsistency in quarterly earnings suggests that the company's current financial profile is driven more by the timing of project completions than by stable, recurring revenue streams. This volatility warrants further investigation into the sustainability of the company's long-term margin targets.
As indicated by the company's reliance on percentage-of-completion accounting, the reported income statement may mask significant future liabilities related to warranty reserves and potential project attrition, which are not explicitly detailed in the current quarterly financial disclosures.
The reliance on 'awarded' versus 'contracted' projects may overstate the visibility of future earnings, as these figures are subject to significant attrition. Investors should remain cautious regarding the potential for future margin compression if systemic hardware failures necessitate increased warranty provisions.
Quick answers to the most common questions about buying FLNC stock.
For fiscal year 2025, Fluence Energy, Inc. (FLNC) reported total revenue of $2.26B. This represents a 2355.6% increase compared to $92.2M in 2019.
Fluence Energy, Inc. (FLNC) reported a net loss of $48.3M for the fiscal year ending 2025.
Fluence Energy, Inc. (FLNC) reported an operating income of $-46.3M, resulting in an operating profit margin of -2.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Fluence Energy, Inc. (FLNC) generated $295.8M in gross profit for the year, representing a gross profit margin of 13.1%. This demonstrates the company's core pricing power and production efficiency.