Fluence Energy, Inc. (FLNC) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
Revenue Growth Metrics
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 February 28, 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 GEV (+9.0% YoY), and NRGV (-36.0% YoY), FLNC has outperformed the peer group in terms of revenue growth. Compare FLNC vs GEV →
Peer Comparison
Compare FLNC's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FLNCCurrent | $2.6B | +154.4% | +32.2% | -1.5% | |
| GEV | $38.1B | +9.0% | - | 3.6% | |
| NRGV | $46M | -36.0% | - | -281.4% |
Historical Revenue Data
| 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% |
See FLNC's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs FLNC Undervalued?
See our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationCompare FLNC vs GEV
See how FLNC stacks up against sector leader GE Vernova Inc..
Start ComparisonFrequently Asked Questions
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.