Fluence Energy, Inc. · NASDAQ:FLNC
Fluence Energy — Q3 2025 Earnings Presentation
24 slides from Fluence Energy's earnings presentation, Aug 12, 2025
Slide 1: 3Q FY2025 Earnings Presentation
August 12, 2025 3Q FY2025 Earnings Presentation
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements The statements herein and referenced on the Company's earnings call 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 a
Slide 3: Today's Agenda
Today’s Agenda 1 Strategy Update Julian Nebreda, President & CEO 2 3 © Fluence Energy, Inc. All rights reserved. | 3
Slide 4: Positive Momentum Since Last Earnings Call
Positive Momentum Since Last Earnings Call • Two Australia contracts totaling approximately $700 million added to the backlog, including the largest ever project in Fluence’s history • First U.S. domestic content- compliant storage system delivered • U.S. Domestic Production ramping up; working thro
Slide 5: Q3'25 Executive Summary
Q3'25 1 Strong Q3 performance driving margins above 3 Reaffirming 2025 guidance • Expect to be at bottom end 4 Favorable outcome for energy storage in recently Executive target passed legislation (OBBBA); of revenue guidance range working with our domestic 2 Robust liquidity1 ($900M+) of $2.6B prima
Slide 6: OBBBA Provides Upside to Storage; Supports FLNC's Strategy
OBBBA Provides Upside to Storage; Supports FLNC’s Strategy Longterm ITC security with limited Chinese competition and incentives for domestic content favor FLNC’s strategy Section 48E ITC (Claimed by FLNC Customers) for start of project construction 75% Highlights of OBBBA 70% 65% Non-FEOC Content •
Slide 7: FEOC Restrictions in OBBBA are Complex but Workable
FEOC Restrictions in OBBBA are Complex but Workable Amount of Non-FEOC Content Required for Section 45X Credit Increases Over Time Section 45X Cells/Modules (Impacts FLNC) Key Takeaways 1) Working with domestic suppliers to ensure 85% 85% 85% they achieve compliance with the OBBBA 80% by end of the
Slide 8: Current and Anticipated Tariffs on Chinese Batteries
CURRENT AND ANTICIPATED TARIFFS ON CHINESE BATTERIES IN CALENDAR YEAR 2025 IN CALENDAR YEAR 2026 AD/ CVD Impacts 3.4% 3.4% • U.S. Dept. of Commerce ("DOC") has issued Base tariff Base tariff preliminary 114.3% combined duties on certain China-origin active anode material for "China- 7.5% 25% wide" e
Slide 9: BESS More Economic and Faster to Deploy than New Natural Gas Generation
BESS More Economic and Faster to Deploy than New Natural Gas Generation Range of Cost of Capacity ($/kW-mo) $40.00 $35.00 $30.00 $27.70 • Battery Storage is vastly more competitive than deploying new gas turbines. $25.00 $ / MWh $21.88 $23.34 $20.00 • In June, batteries supplied 26 % of CAISO’s even
Slide 10: At least $8.5 Billion Additional TAM from Behind-The-Meter Applications
At least $8.5 Billion Additional TAM from Behind-The-Meter Applications To Help Data Centers Smooth Power Fluctuations Source: Company Estimates; McKinsey © Fluence Energy, Inc. All rights reserved. | 10
Slide 11: GAAP Gross Profit Margin Reflects Strong Project Execution
GAAP Gross Profit Margin Reflects Strong Project Execution Rolling Last 12 Month GAAP Gross Margin % 12.6% 12.9% 13.1% 12.7% 12.1% 9.0% 7.3% 6.4% 3.8% 2.9% 0.2% Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 -5.2% © Fluence Energy, Inc. All rights reserved. | 11
Slide 12: Robust Backlog and Pipeline Provides Continued Visibility to Future Revenue
Robust Backlog and Pipeline Provides Continued Visibility to Future Revenue Backlog added since June 30, 2025 ~$1.1 Billion 25% FLNC $23.5 Billion 47% $4.9B Utility Scale Pipeline Backlog As of June 30th, 2025 28% in billions USD as of June 30, 2025 Americas EMEA APAC * Refer to Backlog and Pipeline
Slide 13: Today's Agenda: Financial Update
Today’s Agenda 1 2 Financial Update Ahmed Pasha, SVP & CFO 3 © Fluence Energy, Inc. All rights reserved. | 13
Slide 14: Third Quarter 2025 Financial Performance
Ready Third Quarter 2025 Financial Performance HIGHLIGHTS 2 for review 1 Q3 revenue was ~$100M below plan All figures in $ million, unless specified2 Q3’24 Q3’25 due to a slower ramp Revenue 483 603 at new U.S. module and enclosure Adjusted Gross Profit1 85 93 facilities, with Adjusted Gross Profit
Slide 15: Over $1 Billion Liquidity Positions Us Well to Execute on Our Strategy
Over $1 Billion Liquidity Positions Us Well to Execute on Our Strategy All figures in $ million, unless specified As of 6/30/2025 $150 mn $443 mn $1,053 mn $903 mn $460 mn 2 1 Ending Cash Availability under Total Liquidity as of Supply Chain Facility Pro-forma Total Credit Facilities June 30, 2025 S
Slide 16: FY2025 Guidance Update
Ready FY2025 Guidance Update HIGHLIGHTS for review Prior FY 2025 Current FY 2025 1 Expect to be at the bottom All figures in $ million, FY 2024 of the revenue guidance Guidance Guidance unless specified Actuals (5/7/2025) (8/12/2025) range of $2.6-$2.8B primarily due to delay in US production ramp u
Slide 17: Key Takeaways
Key Takeaways 1 Global demand remains strong for energy storage, with U.S. market activity rebounding driven by supportive federal legislation. 2 Expect our domestic suppliers achieve compliance with OBBBA requirements, including non-FEOC and domestic content thresholds, by end of the calendar year.
Slide 18: Today's Agenda: Q&A
Today’s Agenda 1 2 3 Q&A © Fluence Energy, Inc. All rights reserved. | 18
Slide 19: Appendix
Appendix © Fluence Energy, Inc. All rights reserved. | 19
Slide 20: Definitions
Definitions Item Definition Backlog represents the unrecognized revenue value of our contractual commitments, which include deferred revenue and amounts that will be billed and recognized as revenue in future periods. The Company’s backlog may vary significantly each reporting period based on the ti
Slide 21: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations1 FY25 ($ in millions) FY25 ($ in millions) Q3’24 Q4’24 FY24 Q1’25 Q2'25 Q3’25 Q3’24 Q4’24 FY24 Q1’25 Q2'25 Q3'25 YTD YTD GROSS PROFIT 83.0 157.5 341.1 21.2 42.6 89.1 152.9 NET INCOME (LOSS) 1.1 67.7 30.4 (57.0) (41.9) 6.9 (92.1) Gross Profit Margin % 17.
Slide 22: OBBBA Provides Supportive Material Assistance Requirements
OBBBA Provides Supportive Material Assistance Requirements 100% 90% 85% 85% 85% 80% 80% 70% 70% 75% 75% 75% 65% 70% 60% 60% 65% 60% 50% 55% 40% 30% 20% 10% 0% 0% 2025 2026 2027 2028 2029 2030 2031 2032 48E Material Assistance Cost Ratio Percentage Threshold (Non-FEOC Material Required at Project Lev
Slide 23: Fluence's Integrated Domestic Content Supply Chain
Fluence’s Integrated Domestic Content Supply Chain Ability to Mix and Match BESS Components Enables Us to Meet Customer's Needs While Maximizing Volumes Module 6 >1,500 PRODUCTION JOBS CREATED Manufacturing UTAH FACILITIES IN THE US Cell Manufacturing Inverter TENNESSEE Manufacturing Enclosure & DCP
Slide 24: Fluence Battery Pack
Fluence Battery Pack Enables easier implementation of integrated solutions while commoditizing battery cells Fluence Mosaic Battery Cell FROM DCPM Cell Supplier 1 The "brains" of the Pack System, the (US) DCPM collects battery data for Cell Supplier 2 communication with Fluence OS and Battery Module