Slide 1: 2Q FY2024 Earnings Presentation
M AY 9 , 2 0 2 4 2Q FY2024 Earnings Presentation
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities L
Slide 3: Today's Agenda: Strategy Update
Today’s Agenda 1 Strategy Update Julian Nebreda, President & CEO 2 3 © Fluence Energy, Inc. All rights reserved. | 3
Slide 4: Q2'24 Performance
Q2’24 Performance Q2’24 Order Intake Q2’24 Revenue Recognized • Total Cash1 increased to $541 million as of 3/31, up $713M $623M ~2.2 GWh Solutions2, 0.9 GWh Services, ~1.8 GWh Energy $65 million from end of first ~3.1 GW Digital Storage Solutions3 quarter • 4th consecutive quarter of cash generatio
Slide 5: Record Free Cash Flow Generation; Continued Focus on Execution
Record Free Cash Flow Generation; Continued Focus on Execution Deliver Profitable Growth Use Fluence Digital as a Competitive • For the first half of fiscal year 2024, we achieved Differentiator and Margin Driver record free cash flow1 of approximately $87.8 • Digital backlog increased approximately
Slide 6: Robust Global Utility Scale Demand Provides Encouraging Outlook
Robust Global Utility Scale Demand STRONG ORDER INTAKE Provides Encouraging Outlook Ten consecutive quarters of order intake outpacing revenue Pipeline increased by $2.9 billion, or ~22%, from last quarter recognized, showcasing robust growth in utility scale energy storage 23% PIPELINE Pipeline inc
Slide 7: Expanding Gridstack Pro Offerings
Expanding Gridstack Pro Offerings Adding the Gridstack Pro 5000 Series, a more energy-dense 5-6 MWh enclosure, optimizing land use and efficiency. GRIDSTACK PRO 1000 ONE GRIDSTACK PRO PLATFORM A series of offerings that provide flexibility and faster integration of new cell technology, all on the sa
Slide 8: Signed First Domestic Content Contract; Well Positioned For Additional Opportunities
Signed First Domestic Content Contract; • Signed first contract for Well Positioned For Additional Opportunities domestic content with a customer for delivery in 2025. • Utilities are adding domestic content to scorecard requirements; addresses growing cybersecurity & FLUENCE MODULE supply chain con
Slide 9: FLNC Issues 2nd Annual Sustainability Report
FLNC Issues 2nd Annual Sustainability Report In April 2024, Fluence released its second annual sustainability report which builds upon the sustainability disclosures from our inaugural report published in April 2023 and provides updates on Fluence’s sustainability strategy. © Fluence Energy, Inc. Al
Slide 10: Today's Agenda: Financial Update
Today’s Agenda 1 2 Financial Update Ahmed Pasha, SVP & CFO 3 © Fluence Energy, Inc. All rights reserved. | 10
Slide 11: Second Quarter 2024 Financial Performance
HIGHLIGHTS Second Quarter 2024 Financial Performance Continued Improvement in Gross Profit Margins 1 106% YoY adjusted gross profit increase, reflecting strong demand and All figures in $ million, unless specified2 Q2’23 Q2’24 improved execution. Revenue 698 623 1 2 Third consecutive quarter Adjuste
Slide 12: Continuing to Maintain Strong Liquidity
HIGHLIGHTS Continuing to Maintain Strong Liquidity • Access to nearly $590 All figures in $ million, unless specified million of liquidity2 as of March 31, 2024 AS OF MARCH 31, 2024 • Ample liquidity to meet business needs under $48 $589 current plan $541 • 4 consecutive quarters of $477 cash genera
Slide 13: Reaffirm FY'24 Guidance
HIGHLIGHTS Reaffirm FY’24 Guidance 1 Approximately 90% of midpoint of FY’24 revenue guidance is covered by backlog + YTD revenue recognized. All figures in $ million, unless specified FY 2023 FY 2024 Guidance 2 Expect FY’24 H2 revenue split Q3 20% / Q4 80% due to project timing. Expect Q3 to deliver
Slide 14: Key Takeaways
Key Takeaways 1 2 3 4 Record free cash flow1 This is our 3rd On track to begin Strong market generation with consecutive quarter domestic module outlook for utility- approximately $87.8 of double-digit manufacturing this scale battery million achieved in the gross margins, year. Signed first storage
Slide 15: Today's Agenda: Q&A
Today’s Agenda 1 2 3 Q&A © Fluence Energy, Inc. All rights reserved. | 15
Slide 16: Appendix
Appendix © Fluence Energy, Inc. All rights reserved. | 16
Slide 17: FLNC is the Preferred Choice for Utility Scale BESS Integration
FLNC is the Preferred Choice for Utility Scale BESS Integration Digital Global BESS capacity by top 10 integrators (MW) Services software Installed Contracted 8000 7000 Power electronic Safety & engineering and 6000 Cybersecurity innovation 5000 4000 3000 2000 Bankability Scale and supply 1000 chain
Slide 18: Definitions
Definitions ITEM DEFINITION Backlog Backlog represents the unrecognized revenue value of our contractual commitments, which include deferred revenue and amounts that will be billed and recognized as revenue in future periods. The Company’s backlog may vary significantly each reporting period based o
Slide 19: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations1 ($ in millions) Q2'23 Q4'23 FY23 Q1’24 Q2’24 ($ in millions) Q2'23 Q4'23 FY23 Q1’24 Q2’24 GROSS PROFIT 30.8 76.3 141.0 36.4 64.2 NET INCOME (LOSS) (37.4) 4.8 (104.8) (25.6) (12.9) Add: Add: Stock-based Compensation 1.3 0.8 4.2 1.2 1.1 Interest Income, N
Slide 20: Fluence Battery Pack
Fluence Battery Pack Enables easier implementation of integrated solutions while commoditizing battery cells Fluence Mosaic Battery Cell FROM DCPM AESC The "brains" of the Pack System, the Cell Supplier 2 DCPM collects battery data for Cell Supplier 3 Battery Module communication with Fluence OS and
Slide 21: Upcoming Events Investor Relations Contact
Upcoming Events Investor Relations Contact MAY 9, 2024 Q2 Earnings Call JUNE 4, 2024 RBC Conference NYC Lexington May JUNE 11, 2024 Evercore Conference NYC VICE PRESIDENT, FINANCE & INVESTOR RELATIONS Lexington.May@fluenceenergy.com JUNE 17, 2024 JPM Conference NYC AUGUST 2024 Q3 Earnings Call © Flu