Fluence Energy, Inc. · NASDAQ:FLNC

Fluence Energy — Q3 2023 Earnings Presentation

18 slides from Fluence Energy's earnings presentation, Aug 10, 2023

  1. Slide 1: 3Q FY2023 Earnings Presentation

    3Q FY2023 Earnings Presentation AUGUST 10, 2023

  2. 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

  3. Slide 3: Today's Agenda

    Today’s Agenda 1 Strategy Update Julian Nebreda, President & CEO 2 Financial Update Manavendra Sial, SVP & CFO 3 Q&A © Fluence Energy, Inc. All rights reserved. | 3

  4. Slide 4: Q3'23 Performance

    Q3’23 Performance Clearing Out Majority Legacy Low Margin Contracts; Heading into Q4’23 with expected ~10% Gross Margins1 Q3’23 Order Intake Q3’23 Revenue Recognized Long-term Services AUM4 at 6/30 $565M $536M 2.3 GW 1.4 GWh Solutions2, 0.15 GWh Services, Deployed ~1.5GWh Energy >90% Cumulative Depl

  5. Slide 5: On Track to Meet Our Commitments; Secured US Battery Supply

    PROGRESSING ON STRATEGIC OBJECTIVES On Track to Meet Our Commitments; Secured US Battery Supply Deliver profitable growth • Raising FY’23 guidance range to $2.0 – 2.1 billion for revenue; $117-$132 million for Adjusted Gross Profit1. • Reaffirming our belief that we will be close to Adjusted EBITDA

  6. Slide 6: Strong Demand and Execution Lead to Increased FY'23 Guidance

    SUPPORTING FY’23 OBJECTIVE Strong Demand and Execution Lead to Increased FY’23 Guidance >$1B of pipeline growth quarter over quarter. Reaffirm expected 35-40% revenue growth in FY’24 ~$12.4 PIPELINE • The pipeline experienced a significant increase of ~$1.2 billion on a quarter-to-quarter basis, pri

  7. Slide 7: Early US Battery Cell Supply Secured

    Early US Battery Cell Supply Secured IRA Domestic Content Regulations Signed agreement in July with AESC in which FLNC Provide Some will procure US manufactured battery cells Answers, More Clarity Still Needed; Reaffirm Prior IRA Multi-year deal with initial shipments expected in Q4 Expected Impacts

  8. Slide 8: AI-Based Predictive Maintenance For Batteries

    NISPERA FOR STORAGE + AI-Based Predictive Maintenance For Batteries AI models detect May help identify Identify, prioritize, and act on storage cell temperatures issues before it performance issues to reduce downtime higher than their escalates into standard behavior taking the asset offline • AI mo

  9. Slide 9: Today's Agenda

    Today’s Agenda 1 Strategy Update Julian Nebreda, President & CEO 2 Financial Update Manavendra Sial, SVP & CFO 3 Q&A © Fluence Energy, Inc. All rights reserved. | 9

  10. Slide 10: Third Quarter 2023 Financial Performance

    Third Quarter 2023 Financial Performance Strong Topline Performance and Positive Quarterly Cashflow HIGHLIGHTS All figures in $ million, unless specified3 Q3’22 Q2’23 Q3’23 1. 124% YoY revenue growth in Revenue 239 698 536 Q3’23, select projects ahead of schedule pulling forward Adjusted Gross Profi

  11. Slide 11: Raising FY'23 guidance; Expect to be close to Adjusted EBITDA breakeven in Q4 FY'23

    Raising FY’23 guidance; Expect to be close to Adjusted EBITDA breakeven in Q4 FY’23 Reaffirm 35-40% year over year growth; and positive Adj. EBITDA for FY’24 1. Implied Q4’23 Guidance for Revenue at ~$500M and Adj. Gross Profit1 at >$50M All figures in $ million, unless specified • Narrowed FY’23 gu

  12. Slide 12: Today's Agenda

    Today’s Agenda 1 Strategy Update Julian Nebreda, President & CEO 2 Financial Update Manavendra Sial, SVP & CFO 3 Q&A © Fluence Energy, Inc. All rights reserved. | 12

  13. Slide 13: Appendix

    Appendix © Fluence Energy, Inc. All rights reserved. | 13

  14. Slide 14: Definitions

    Definitions ITEM DEFINITION Pipeline Represents our uncontracted, potential revenue from energy storage products and solutions, service, and digital software contracts, which have a reasonable likelihood of contract execution within 24 months. Contracted Backlog Represent signed purchase orders or c

  15. Slide 15: YTD 2023 Financial Performance

    YTD 2023 Financial Performance Strong Year Over Year Improvement All figures in $ million, unless specified3 Q3’22 YTD Q3’23 YTD Revenue 757 1,545 HIGHLIGHTS Adjusted Gross Profit1 (66) 69 1. Significant year over year improvement resulting in 104% increase in revenue Operating expenses excluding st

  16. Slide 16: Q3'23 Ending Cash at $416M, No Recourse Debt, In-line with Prior Commitments

    Q3’23 Ending Cash at $416M, No Recourse Debt, In-line with Prior Commitments Expect FY’23 to end with liquidity >$500M; ample liquidity4 for cash needs All figures in $ million, unless specified DESCRIPTION Q3’23A FY’23 Framework Intact Total Cash1 as of 3/31/23 384 Financing - Continue to assume no

  17. Slide 17: Non-GAAP Financial Measures & Reconciliations

    Non-GAAP Financial Measures & Reconciliations1 ($ in millions) Q2'22 Q3’22 FY22 Q2’23 Q3'23 YTD Q3’22 YTD Q3’23 GROSS PROFIT (LOSS) (14.8) (5.2) (62.4) 30.8 21.8 (73.1) 64.7 ADD (DEDUCT): STOCK-BASED COMPENSATION 0.7 2.6 8.5 1.3 1.2 6.9 3.4 AMORTIZATION - - - - 0.5 - 0.5 OTHER EXPENSES(c) - - - 0.1

  18. Slide 18: Upcoming Events Investor Relations Contact

    Upcoming Events Investor Relations Contact August 10, 2023 Q3 Earnings Call Lexington May Vice President, Finance & Investor Relations August 22, 2023 Seaport Conference (Virtual) Lexington.May@fluenceenergy.com Sept. 5-6, 2023 Barclays CEO Energy-Power Conference NYC Sept 11-14, 2023 RE+ Conference

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