Fluence Energy, Inc. (FLNC) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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FLNC Revenue Growth
Revenue Breakdown (FY 2025)
FLNC's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
FLNC Revenue Analysis (2019–2025)
As of May 6, 2026, Fluence Energy, Inc. (FLNC) generated trailing twelve-month (TTM) revenue of $2.55 billion, reflecting explosive growth of +154.4% year-over-year. The most recent quarter (Q1 2026) recorded $475.2 million in revenue, down 54.4% sequentially.
Looking at the longer-term picture, FLNC's 5-year compound annual growth rate (CAGR) stands at +32.2%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $2.70 billion in 2024.
Revenue diversification analysis shows FLNC's business is primarily driven by Product (96%), and Service (4%). With over half of revenue concentrated in Product, the company maintains significant focus in this area while developing other growth vectors.
When compared to Utilities sector peers including STEM (+8.1% YoY), NRGV (+362.0% YoY), and GNRC (-0.5% YoY), FLNC has underperformed the peer group in terms of revenue growth. Compare FLNC vs STEM →
FLNC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FLNCCurrent | $2.6B | +154.4% | +32.2% | -1.5% | |
 STEM | $156M | +8.1% | +33.9% | -38.7% | |
 NRGV | $204M | +362.0% | - | -36.5% | |
 GNRC | $4.2B | -0.5% | +11.1% | 6.9% | |
 BE | $2.0B | +56.5% | +20.6% | 3.6% | |
 FCEL | $158M | +48.3% | +17.4% | -76.6% |
FLNC Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.26B | -16.1% | $295.8M | 13.1% | $-34,913,000 | -1.5% |
| 2024 | $2.70B | +21.7% | $341.1M | 12.6% | $26.6M | 1.0% |
| 2023 | $2.22B | +85.0% | $141.0M | 6.4% | $-102,774,000 | -4.6% |
| 2022 | $1.20B | +76.1% | $-62,354,000 | -5.2% | $-285,802,000 | -23.8% |
| 2021 | $680.8M | +21.3% | $-69,144,000 | -10.2% | $-158,739,000 | -23.3% |
| 2020 | $561.3M | +509.1% | $7.9M | 1.4% | $-40,809,000 | -7.3% |
| 2019 | $92.2M | - | $-7,917,000 | -8.6% | $-47,752,000 | -51.8% |
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Start ComparisonFLNC — Frequently Asked Questions
Quick answers to the most common questions about buying FLNC stock.
Is FLNC's revenue growth accelerating or slowing?
FLNC revenue is accelerating at +154.4% year-over-year, exceeding the 5-year CAGR of +32.2%. TTM revenue reached $2.6B. Growth momentum has increased versus prior periods.
What is FLNC's long-term revenue growth rate?
Fluence Energy, Inc.'s 5-year revenue CAGR of +32.2% reflects the sustained expansion pattern. Current YoY growth of +154.4% is above this long-term average.
How is FLNC's revenue distributed by segment?
FLNC reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.