Short answer
Fluence Energy, Inc. (FLNC) filed its fiscal 2025 10-K annual report with the SEC on Nov 25, 2025. It reported revenue of $2.3B (−16.1% year over year) and net income of −$48M.
- Top risk flagged: Raw material cost volatility in steel, aluminum, lithium risks operating margins and supplier price hikes unhedged
FY2025 key financial metrics · XBRL
- Revenue
- $2.3B
- −16.1% YoY
- Net income
- −$48M
- −312.7% YoY
- Gross margin
- 13.1%
- +0.4 pp YoY
- EPS (diluted)
- −$0.37
- −384.6% YoY
- ROE
- -11.2%
- −16.1 pp YoY
- Operating cash flow
- −$146M
- −282.6% YoY
Source: XBRL data from the Fluence Energy, Inc. (FLNC) FY2025 10-K on SEC EDGAR. USD.
Fluence Energy, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Battery-based energy storage solutions, services, and digital applications for utilities and commercial customers
- Emphasized new product lines: Smartstack and Gridstack Pro with increased R&D spend of $20.0M (+30.2%) supporting innovation
- Strategic shift: Focus on operational efficiencies and cost reductions amid lower lithium-ion battery prices; delays in large contract signings and U.S. production scaling
- Quantitative highlights: Deployed energy storage capacity grew 36.0% to 6.8 GW; contracted backlog up 21.3% to 9.1 GW; revenue declined 16.1% to $2.26B; net loss of $68M vs income prior year
- Noteworthy fact: Issued $400M of 2.25% Convertible Senior Notes due 2030 in December 2024 to bolster liquidity amid slowing revenue growth
Management Discussion & Analysis
- No profitability or margin % details disclosed in provided text
- Risks: potential debt covenant breach, currency exchange fluctuations, reliance on declining battery costs, possible capital raising with dilution, and supply chain delays impact growth and operations
Risk Factors
- Raw material cost volatility in steel, aluminum, lithium risks operating margins and supplier price hikes unhedged
- Macroeconomic exposure: credit risk from key customers including AES and affiliates potentially impacting revenue and cash flow
- Foreign currency risk from Euro, GBP, AUD, CAD, CHF fluctuations managed with forward contracts, currently immaterial impact assumed
- Interest rate risk on floating rate borrowings under 2024 Revolver with no current cash draws, potential future cost exposure
- Financing risk from reduced availability of tax equity, project debt, or financing could lower battery energy storage system demand
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.