Fluence Energy Stock Earnings Reports

Key points for investors: Fluence reported Q1 FY2026 revenue of $475M and ended the quarter with a record backlog of $5.5B and approximately $1.1B of total liquidity ($477M cash + $617M available on credit). Global order intake for the quarter exceeded $750M, with >$500M from the U.S., and the company said the midpoint of its FY26 revenue guidance is fully covered by backlog. The sales pipeline grew by roughly $7B (about +30%), led by U.S. demand and meaningful new opportunities in data centers (36 GWh of discussions) and long-duration storage (34 GWh). Q1 adjusted gross profit was $27M (5.6% adjusted gross margin), impacted by roughly $20M of discrete, non-U.S. project cost increases and typical first-quarter margin seasonality; adjusted EBITDA was negative $52M. Management expects most of the $20M to be recovered over the year and reaffirmed FY26 guidance: revenue $3.2–$3.6B (midpoint $3.4B), ARR ~ $180M by year-end, and adjusted EBITDA $40–$60M. Operational updates: domestic supply chain and enclosure production in Arizona are on track, cell supply (ASC/Tennessee) PFE issues are being resolved (company expects a compliant outcome without needing to change ownership), and several EV battery lines are shifting toward supplying stationary storage, broadening domestic cell options. Management emphasized focus on converting pipeline into backlog, expanding use cases (notably data centers and backup/quality-of-power applications), and disciplined execution to deliver margins and shareholder value.