Fluence Energy Reports Significant Financial Growth in 2024

Fluence Energy, Inc. has reported significant financial improvements for the fiscal year ending September 30, 2024. The company's net income surged to $67,724,000 from $4,817,000 in the same period last year, marking a 1306% increase. For the fiscal year, net income reached $30,367,000, a substantial improvement from a loss of $104,818,000 in 2023.

The company's total revenue for the three months ending September 30, 2024, was $1,228,148,000, an 82% increase from the previous year's $672,982,000. For the fiscal year, revenue increased by 22% to $2,698,562,000 from $2,217,978,000 in 2023. The cost of goods and services rose by 79% in the quarter and 14% for the fiscal year. Consequently, the gross profit for the quarter doubled to $157,469,000, and for the year, it increased by 142% to $341,080,000.

Adjusted EBITDA for the quarter was $86,872,000, a 338% increase from $19,849,000 in the same period last year. For the fiscal year, adjusted EBITDA was $78,106,000, compared to a loss of $61,388,000 in 2023, representing a 227% improvement.

Fluence Energy also reported a significant increase in free cash flow, which reached $71,570,000 for the fiscal year, compared to a negative $114,916,000 in 2023. This improvement was driven by net cash provided by operating activities, which increased to $79,685,000 from a negative $111,927,000 the previous year.

These financial results indicate a strong recovery and growth trajectory for Fluence Energy, as the company continues to enhance its financial performance and operational efficiency.