Fluence Corp Ltd (EMFGF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome to the Fluent Corporation Q1 FY2026 results webcast. My name is Andrew Angus, and I look after investor relations for the company. With me today are Ben Fash, the Managing Director and Chief Executive Officer, and Ozzy Yarners, the Chief Financial Officer. Ben, over to you. Thank you, Andrew. Good morning, everyone. My name, as Andrew said, is Ben Fash, CEO and Managing Director of Fluent. And I'd like to welcome everyone to our Q1 2026 business and financial update. As always, thank you for your time today and your interest and influence. With me is our CFO, Ozzy Giannis. By now, you've likely seen our Q1 business update and Appendix 4C that was recently released. I will provide a brief overview of the results and direction of the business and then turn it over to Ozzy to provide additional commentary on the financial results. There was a lot to be encouraged about regarding Fluence's Q1 results. In what is traditionally a relatively slow quarter, EBITDA performed quite well, hitting half a million against a prior period EBITDA, which was essentially breakeven. This was a result of continued strong execution of our backlog as gross margins increased 3% compared to Q1 2025, as well as the company maintaining strong cost discipline. And while delays resulted in a disappointing quarter in terms of orders with only 7.5 million in bookings. Backlog across our core businesses is almost 20% higher today than it was at the same time last year. More importantly, we did not lose many of the key orders we've been tracking. We did, however, experience several order delays. But the upside is we now have strong visibility on our near-term pipeline and could see as much as 18 to 20 million in new orders in Q2. which would result in strong growth in the first ...