Fluence Energy, Inc. · NASDAQ:FLNC
Fluence Energy — Investor Presentation (June 2024)
27 slides from Fluence Energy's investor presentation, June 2024
Slide 1: Investor Presentation
June 2024 Investor 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: 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 4: Investment Thesis
1 Investment Thesis © Fluence Energy, Inc. All rights reserved. | 4
Slide 5: Fluence Investment Thesis
Fluence Investment Thesis 1. Massive total addressable market: Installed base expected to add 725 GWh of utility scale storage between 2024 and 20301 2. Fluence is the leader in the energy storage sector: Ranked #1 for market share both globally and in the United States (deployed and contracted proj
Slide 6: 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 7: Sustainable Supply Chain Strategy
Sustainable Supply Diversity of Component and Battery Suppliers • Five battery suppliers: China, South Korea, Sweden, USA. Chain Strategy Capacity Agreements • Multi-year capacity agreements in place to ensure adequate supply and timely deliveries. • Capacity agreement prices subject to market adjus
Slide 8: About Us
2 About Us © Fluence Energy, Inc. All rights reserved. | 8
Slide 9: Our Mission: Transform the way we power our world
OUR MISSION Transform the way we power our world to create a more sustainable future. PURPOSE-BUILT PURPOSE-DRIVEN © Fluence Energy Inc. All rights reserved. | 9
Slide 10: Best-In-Class Global Energy Storage Solutions Provider
Best-In-Class Global Energy Storage Solutions Provider We provide comprehensive energy storage solutions for our customers most complex challenges PCS. Prequalified to work with Safety. Standard safety components include Batteries. Cubes come pre-assembled leading power conversion systems fire detec
Slide 11: Key Highlights: Fluence Contract Manufacturing Locations
Key Highlights Fluence Contract Manufacturing Locations Regionalizing our supply chains Utah facility well positioned following USA – Utah facility passage of IRA operational since Asia – Vietnam facility September 2022 operational since 2020 Potential for an additional USA based facility following
Slide 12: A trusted partner for leading companies globally
A trusted partner for leading companies globally A broad range of customers across multiple segments and geographies UTILITIES / IPPs FINANCIALS 12
Slide 13: FLNC the Preferred Supplier of Storage Solutions
FLNC the Preferred Supplier of Storage Solutions; Builds Strong Customer Relationships and Drives Long-Term Service Contracts Customers cite safety, performance, bankability, and supply chain assurance in selecting FLNC Safety Performance Bankability Supply Chain Assurance 95% 84% 84% 79% 63% 16% Ba
Slide 14: Fluence Offerings
3 Fluence Offerings © Fluence Energy, Inc. All rights reserved. | 14
Slide 15: Configurable storage solutions, service, and digital application packages
We help customers manage the energy transition through configurable storage solutions, service, and digital application packages Fluence Energy Storage Solutions & OS Fluence Long-Term Services Digital Apps for Renewables and Storage Purpose-built energy storage with integrated hardware Comprehensiv
Slide 16: 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 17: Fluence Battery Pack
Fluence Battery Pack Enables easier implementation of integrated solutions while commoditizing battery cells Fluence Mosaic Battery Cell FROM AESC DCPM Cell Supplier 2 The "brains" of the Pack System, the Cell Supplier 3 Battery Module DCPM collects battery data for Fluence OS Cell Supplier 4 commun
Slide 18: FY 2024 Second Quarter Financial Highlights
FY 2024 Second Quarter 4 Financial Highlights © Fluence Energy, Inc. All rights reserved. | 18
Slide 19: 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 20: 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 21: 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 2 Third consecutive quarter 1 Adjuste
Slide 22: 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 23: Appendix
Appendix © Fluence Energy, Inc. All rights reserved. | 23
Slide 24: 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 25: 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 26: IRA Offers Material Tax Incentives For Energy Storage
IRA Offers Material Tax Incentives For Energy Storage Section 48: Investment Tax Credit (ITC) Section 45X: Production Tax Credit (PTC) Directly Benefits Customers; Directly Benefits Fluence Indirectly Benefits Fluence $10 per kWh of Battery Modules Up to 50% of Project Cost in Credits Produced at ou
Slide 27: FLNC an Official Signatory Member of UN Global Compact
FLNC an Official Signatory Member of As a signatory, FLNC will complete an annual Communication on Progress UN Global Compact submission, demonstrating progress in working towards the Ten Principles of the In November 2023, FLNC became Global Compact. an official signatory member of the UN Global Co