Business
Fluence Energy, Inc. Reports Fourth Quarter and Fiscal Year 2021 Results
Fiscal year 2021 results are setting the stage for substantial growth in fiscal year 2022 ARLINGTON, Va., Dec. 08, 2021 (GLOBE NEWSWIRE) -- Fluence Energy,
About this update from Fluence Energy, Inc.
[{"type":"text","content":"Fiscal year 2021 results are setting the stage for substantial growth in fiscal year 2022\nARLINGTON, Va., Dec. 08, 2021 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (Nasdaq: FLNC) (“Fluence” or the “Company”), a leading global pure-play provider of energy storage products, services, as well as digital applications for renewables and storage, today announced its financial results, including record revenue and contracting, for the fiscal year ended September 30, 2021. Strategic Highlights Record order intake for all offerings Entered into record 1,311 MW of energy storage product contracts during the fiscal year;Entered into record 1,959 MW of energy services contracts during the fiscal year; andEntered into record 2,744 MW of Fluence IQ digital contracts during the fiscal year; Major achievements in all areas of the Fluence Ecosystem Signed the largest energy storage portfolio contract in Europe at 105 total MW (across two different locations);Deployed our Fluence IQ platform to optimize the trading of the largest solar farm in the southern hemisphere at 333 MW; andAwarded the largest privately funded energy storage systems in Australia at 150 MW; accompanied by two cross selling awards for Fluence IQ optimization as well as a 20 year service contract; Strengthened balance sheet for continued growth and solidified market leading position Completed initial public offering (“IPO”) that resulted in gross proceeds of $998 million and commenced trading on the NASDAQ Global Select Market on October 28, 2021;Paid down all outstanding loans and currently debt free following the IPO; andEntered into $190 million revolving credit facility. Fourth Quarter Financial Highlights Delivered total revenues of $188 million for the fourth fiscal quarter, compared to $239 million for the same quarter last year, in-line with our prior disclosures;Delivered a gross loss of $59 million for the fourth fiscal quarter, compared to a gross profit of $12 million for the same quarter last year;Delivered adjusted gross profit* of $8 million for the fourth fiscal quarter, compared to $12 million for the same quarter last year;Delivered a net loss of $87 million for the fourth fiscal quarter, compared to a net loss of $1 million for the same quarter last year; andAdjusted EBITDA* for the fourth fiscal quarter was $(15) million, compared to $1 million for the same ...