Fluence Energy, Inc. · NASDAQ:FLNC
Fluence Energy — Investor Presentation (March 2024)
31 slides from Fluence Energy's investor presentation, March 2024
Slide 1: Investor Presentation
March 2024 Investor Presentation
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements All statements in this presentation 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 Securiti
Slide 3: Q1'24 Performance
Q1’24 Performance Q1’24 Order Intake Q1’24 Revenue Recognized • Record order intake of more than $1.1 billion $1.1B $364M • Record contracted backlog of 2.7 GWh Solutions2, 2.3 GWh Services, ~1.0 GWh Energy ~0.4 GW Digital Storage Solutions3 $3.7 billion • Total Cash1 increased to $477 million as of
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: Global utility-scale storage capacity additions expected to grow ~670 GWh through 2030E1 vs FLNC cumulative contracted + deployed of ~20 GWh as of January 2024 2. Fluence is the leader in the energy storage sector: Ranked #1 for market s
Slide 6: FLNC is the Preferred Choice for Utility Scale BESS Integration
FLNC is the Preferred Choice for Utility Scale BESS Integration Services Digital Global BESS capacity by top 10 integrators (MW) software Installed Contracted 8000 7000 Power electronic 6000 Safety & engineering and 5000 Cybersecurity innovation 4000 3000 2000 1000 Bankability Scale and supply 0 cha
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
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: What does our mission mean for the world?
What does our mission mean for the world? IMPACTING CLIMATE CHANGE CAPITAL EFFICIENCY ACCESS TO ELECTRICITY • As of 2022, power generation • The Power Grid is designed to • According to the International accounted for roughly a meet peak demand. Energy Agency, nearly 775 quarter of all global CO2 mi
Slide 11: Best-In-Class Global Energy Storage Solutions Provider
Best-In-Class Global Energy Storage Solutions Provider We provide comprehensive energy storage solutions for our customer’s most complex challenges PCS. Prequalified to work with Safety. Standard safety components include Batteries. Cubes come pre-assembled leading power conversion systems fire dete
Slide 12: 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 13: 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 © Fluence Energy, Inc. All rights reserved. | 13
Slide 14: 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; deployed services attachment rate >90% Safety Performance Bankability Supply Ch
Slide 15: Fluence Offerings
3 Fluence Offerings © Fluence Energy, Inc. All rights reserved. | 15
Slide 16: 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 17: Setting the Standard for Continuous Product Development
Setting the Standard for Continuous Product Development Gridstack Pro OS7 Built for the next era of utility-scale Controls software upgrade to support the increasing energy storage size and complexity of grid-connected storage Fluence Battery Pack Deployment, Foundation for maintenance and the futur
Slide 18: 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 19: Fluence Ultrastack
Fluence UltrastackTM High performance product built for the complex requirements of transmission segment GROWTH IN DISTRIBUTED DRIVES DEMAND FOR STORAGE REQUIRING PROPRIETARY, HIGH- ENERGY RESOURCES AS TRANSMISSION ASSETS1 PERFORMANCE SOLUTIONS 17 GW UltrastackTM Capabilities Faster Response Time En
Slide 20: FY 2024 First Quarter Financial Highlights
FY 2024 First Quarter 4 Financial Highlights © Fluence Energy, Inc. All rights reserved. | 20
Slide 21: On Track to Deliver on FY'24 Commitments; Focused on Execution
On Track to Deliver on FY’24 Commitments; Focused on Execution DELIVER PROFITABLE GROWTH USE FLUENCE DIGITAL AS A COMPETITIVE DIFFERENTIATOR AND MARGIN DRIVER • Reaffirm FY’24 guidance of $2.7 – 3.3 billion for revenue; $50-80 million for Adjusted EBITDA1. Reaffirm FY’24 ARR2 • Strong digital custom
Slide 22: Robust Utility Scale Market Outlook Driving Strong Demand
Robust Utility Scale Market Outlook Driving Strong Demand Strong Order Intake Expected 35-40% Year Over Year revenue growth Nine consecutive quarters of order From FY’24 to FY'25 intake outpacing revenue recognized showcasing robust growth in utility $ in Billions scale energy storage ~$13.4 Backlog
Slide 23: First Quarter 2024 Financial Performance
First Quarter 2024 Financial Performance HIGHLIGHTS Continued Improvement in Financial Performance 1. 17% YoY revenue growth, reflecting strong All figures in $ million, unless specified3 Q1’23 Q1’24 demand, and improved Revenue 310 364 execution Adjusted Gross Profit1 13 38 2. Second consecutive Ad
Slide 24: Continuing to Maintain Strong Liquidity
HIGHLIGHTS Continuing to Maintain Strong Liquidity • Access to more than $600 All figures in $ million, unless specified3 million of liquidity as of Dec 31, 2023 As of December 31, 2023 • Ample liquidity to meet business needs under $75 $606 current plan $54 • 3 consecutive quarters of $463 $477 Tot
Slide 25: Reaffirm FY'24 Guidance
Reaffirm FY’24 Guidance HIGHLIGHTS 1. Approximately 80% of FY’24 revenue guidance midpoint secured in backlog + Q1 revenue recognized. FY 2024 All figures in $ million, unless specified FY 2023 Guidance 2. Continue to expect FY’24 adjusted gross profit margin at $2,218 Revenue $2,700 - $3,300 ~10-12
Slide 26: Appendix
Appendix © Fluence Energy, Inc. All rights reserved. | 26
Slide 27: Definitions
Definitions ITEM DEFINITION Pipeline Represents our uncontracted, potential revenue from energy storage products and solutions, service, and digital software contracts, which have a reasonable likelihood of contract execution within 24 months. Contracted Backlog For our energy storage products and s
Slide 28: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations1 ($ in millions) Q1'23 Q4’23 FY23 Q1’24 ($ in millions) Q1'23 Q4’23 FY23 Q1’24 GROSS PROFIT 12.0 76.3 141.0 36.4 NET INCOME (LOSS) (37.2) 4.8 (104.8) (25.6) ADD: ADD: STOCK-BASED COMPENSATION 0.9 0.8 4.2 1.2 INTEREST INCOME, NET (0.7) (1.1) (5.4) (2.0) A
Slide 29: 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 30: 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
Slide 31: Investor Presentation
March 2024 Investor Presentation