Fluence Energy (FLNC) financial statements
Fluence Energy reported revenue of $2.3B in fiscal 2025, up 32.2% a year over 5 years.
Net income was -$48M.
Free cash flow was -$175M.
The diluted share count rose 87% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Fluence Energy's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $561M | $681M | $1.2B | $2.2B | $2.7B | $2.3B |
| Cost of revenue | $553M | $750M | $1.3B | $2.1B | $2.4B | $2.0B |
| Gross profit | $8M | -$69M | -$62M | $141M | $341M | $296M |
| Research and development | $12M | $23M | $60M | $66M | $66M | $86M |
| Selling, general and admin | $34M | $61M | $154M | $177M | $237M | $243M |
| Interest expense | $128,000 | $1M | $2M | $2M | $4M | $500,000 |
| Pre-tax income | -$40M | -$160M | -$288M | -$100M | $40M | -$45M |
| Income tax | $6M | $2M | $1M | $5M | $9M | $23M |
| Net income | -$47M | -$162M | -$104M | -$70M | $23M | -$48M |
| EPS (diluted) | — | — | -$1.50 | -$0.60 | $0.13 | -$0.37 |
| Diluted shares | — | — | 70M | 116M | 184M | 130M |
| Gross margin | 1.4% | -10.2% | -5.2% | 6.4% | 12.6% | 13.1% |
| Net margin | -8.3% | -23.8% | -8.7% | -3.1% | 0.8% | -2.1% |
Balance sheet
Fiscal years, from Fluence Energy's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $95M | $37M | $468M | $346M | $449M | $691M |
| Receivables | — | $57M | $87M | $103M | $216M | $273M |
| Inventory | — | $390M | $653M | $225M | $183M | $455M |
| Total current assets | — | $662M | $1.6B | $1.2B | $1.7B | $2.1B |
| Property, plant and equipment | — | $8M | $14M | $13M | $15M | $50M |
| Goodwill | $5M | $9M | $25M | $26M | $27M | $29M |
| Total assets | — | $718M | $1.7B | $1.4B | $1.9B | $2.4B |
| Total current liabilities | — | $771M | $1.1B | $746M | $1.3B | $1.4B |
| Long-term debt | — | — | $0 | $28M | $0 | — |
| Total liabilities | — | $774M | $1.1B | $796M | $1.3B | $1.8B |
| Shareholders' equity | — | -$173M | $436M | $402M | $472M | $430M |
| Net debt | -$95M | -$37M | -$357M | -$295M | -$418M | -$691M |
Cash flow
Fiscal years, from Fluence Energy's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$14M | -$265M | -$282M | -$112M | $80M | -$146M |
| Capital spending | $2M | $4M | $8M | $12M | $19M | $30M |
| Free cash flow | -$16M | -$270M | -$290M | -$124M | $61M | -$175M |
| Stock-based compensation | $0 | $0 | $44M | $27M | $24M | $20M |
| Share buybacks (net) | $0 | $0 | -$5M | -$3M | — | — |
| Free cash flow margin | -2.8% | -39.6% | -24.2% | -5.6% | 2.2% | -7.7% |
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Open FLNC in InvestinglyQuestions
What was Fluence Energy's revenue in 2025?
$2.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Fluence Energy generate?
-$175M in fiscal 2025 (operating cash flow minus capital spending).
From Fluence Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.