olivLaw · US equity research
Fluence Energy, Inc. FLNC
Miscellaneous Electrical Machinery, Equipment & Supplies · SIC 3690 · Vertical: Miscellaneous Electrical Machinery, Equipment & Supplies (SIC 3690)
Fluence Energy is a global provider of battery energy storage systems, operational services and optimization software for renewables and storage. The company matters now because demand for storage is rising with data center power needs, but production execution has lagged and fiscal 2026 revenue guidance was cut to about 3.0 billion USD.
At the close of 04 Nov 2026, Fluence Energy, Inc. (FLNC) stock was 6.06 USD (+10.18% on the day), with market capitalisation 312.1 m USD, beta 2.40, 52-week range 5.21–32.23 USD. Latest reported quarter (Q3 2026): revenue of 649.8 m USD (+7.9% YoY), net income of -32.8 m USD (−624.9% YoY), diluted EPS -0.24 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 43.1
- weak (30–45)
- Bollinger (20, 2)
- 4.91 – 7.34
- in the lower half of the band · %B 0.47 · band width 39.7%
- SMA 50 / 200
- 7.82 / 15.18
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.64 / -0.75
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −20.8% | −1.1% | −19.7 pp | — |
| 3 months | −57.4% | −0.5% | −57.0 pp | — |
| 6 months | −55.3% | +4.4% | −59.7 pp | — |
| Year to date | −69.4% | +12.3% | −81.7 pp | — |
| 1 year | −68.4% | +13.5% | −81.9 pp | −59.3% |
| 3 years | −68.1% | +76.4% | −144.5 pp | −43.2% |
| 5 years | −82.4% | +63.7% | −146.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.2 bn | 186.8 m | 431.6 m | 602.5 m | 1.0 bn | 475.2 m | 464.9 m | 649.8 m |
| Cost of revenue | 1.1 bn | 165.6 m | 389.0 m | 513.4 m | 899.0 m | 452.2 m | 418.3 m | 616.6 m |
| Gross profit | 157.5 m | 21.2 m | 42.6 m | 89.1 m | 142.9 m | 23.0 m | 46.6 m | 33.2 m |
| Research & development | 18.4 m | 17.2 m | 22.1 m | 26.0 m | 20.9 m | 18.5 m | 21.1 m | 23.7 m |
| Depreciation & amortisation | 4.1 m | 4.5 m | 2.9 m | 3.6 m | 10.4 m | 8.8 m | 4.3 m | 4.0 m |
| Interest expense | 800.0 k | 500.0 k | 0 ≈ | 0 ≈ | 0 | — | — | — |
| Pre-tax income | 75.6 m | -58.7 m | -43.9 m | 11.5 m | 46.1 m | -70.5 m | -27.7 m | -43.5 m |
| Income tax | 7.9 m | -1.7 m | -2.0 m | 4.6 m | 22.0 m | -7.9 m | 1.5 m | 772.0 k |
| Net income | 47.8 m | -41.5 m | -31.0 m | 6.3 m | 17.9 m | -45.1 m | -20.9 m | -32.8 m |
| Diluted EPS | 0.13 ≈ | -0.32 | -0.24 | 0.01 | 0.14 ≈ | -0.34 | -0.16 | -0.24 |
| Operating cash flow | 10.5 m | -211.2 m | -46.2 m ≈ | -153.9 m ≈ | 265.7 m | -226.8 m | -121.1 m ≈ | -18.6 m ≈ |
| Capex | 3.3 m | 2.1 m | 4.4 m ≈ | 3.6 m ≈ | 4.9 m | 5.8 m | 2.5 m ≈ | 1.4 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | 561.3 m | 680.8 m | 1.2 bn | 2.2 bn | 2.7 bn | 2.3 bn |
| Revenue YoY | unavailable | +21.3% | +76.1% | +85.0% | +21.7% | −16.1% |
| Net income | -46.7 m | -162.0 m | -104.5 m | -69.6 m | 22.7 m | -48.3 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | −312.7% |
| Diluted EPS | unavailable | unavailable | -1.50 | -0.60 | 0.13 | -0.37 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | −384.6% |
| net % | -8.3% | -23.8% | -8.7% | -3.1% | 0.8% | -2.1% |
| Free cash flow | -15.8 m | -269.6 m | -290.3 m | -114.9 m | 71.6 m | -160.4 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 30 Sept 2025
- Cash
- 690.8 m USD
- Financial debt
- 0 USD
- Net debt
- -690.8 m USD
- Equity
- 548.8 m USD
- Total assets
- 2.4 bn USD
- Debt / equity
- 0.00x
- Current ratio
- 1.51x
- ROE
- -8.4%
- ROA
- -2.3%
- FCF margin
- -7.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 561.3 m | 680.8 m | 1.2 bn | 2.2 bn | 2.7 bn | 2.3 bn | SEC (XBRL)· 25 Nov 2025verified |
| Cost of revenue | 553.4 m | 749.9 m | 1.3 bn | 2.1 bn | 2.4 bn | 2.0 bn | SEC (XBRL)· 25 Nov 2025verified |
| Gross profit | 7.9 m | -69.1 m | -62.4 m | 141.0 m | 341.1 m | 295.8 m | SEC (XBRL)· 25 Nov 2025verified |
| Research & development | 11.5 m | 23.4 m | 60.1 m | 66.3 m | 66.2 m | 86.2 m | SEC (XBRL)· 25 Nov 2025verified |
| Depreciation & amortisation | 3.0 m | 5.1 m | 7.1 m | 10.7 m | 14.5 m | 29.3 m | SEC (XBRL)· 25 Nov 2025verified |
| Interest expense | 128.0 k | 1.4 m | 2.0 m | 2.4 m | 4.1 m | 500.0 k | SEC (XBRL)· 25 Nov 2025verified |
| Pre-tax income | -40.3 m | -160.2 m | -287.8 m | -100.3 m | 39.6 m | -45.1 m | SEC (XBRL)· 25 Nov 2025verified |
| Income tax | 6.4 m | 1.8 m | 1.4 m | 4.5 m | 9.2 m | 22.9 m | SEC (XBRL)· 25 Nov 2025verified |
| Net income | -46.7 m | -162.0 m | -104.5 m | -69.6 m | 22.7 m | -48.3 m | SEC (XBRL)· 25 Nov 2025verified |
| Diluted EPS | — | — | -1.50 | -0.60 | 0.13 | -0.37 | SEC (XBRL)· 25 Nov 2025verified |
| Weighted average diluted shares | — | — | 69.7 m | 116.4 m | 184.0 m | 130.3 m | SEC (XBRL)· 25 Nov 2025verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 95.1 m | 36.8 m | 357.3 m | 345.9 m | 448.7 m | 690.8 m | SEC (XBRL)· 25 Nov 2025verified |
| Receivables | — | 57.4 m | 86.8 m | 103.4 m | 216.5 m | 272.8 m | SEC (XBRL)· 25 Nov 2025verified |
| Inventories | — | 389.8 m | 652.7 m | 224.9 m | 182.6 m | 455.0 m | SEC (XBRL)· 25 Nov 2025verified |
| Current assets | — | 661.5 m | 1.6 bn | 1.2 bn | 1.7 bn | 2.1 bn | SEC (XBRL)· 25 Nov 2025verified |
| Property, plant & equipment, net | — | 8.2 m | 13.8 m | 12.8 m | 15.4 m | 50.3 m | SEC (XBRL)· 25 Nov 2025verified |
| Goodwill | 4.7 m | 9.2 m | 24.9 m | 26.0 m | 27.5 m | 28.6 m | SEC (XBRL)· 25 Nov 2025verified |
| Intangibles (excl. goodwill) | — | 36.1 m | 51.7 m | 55.8 m | 60.0 m | 63.4 m | SEC (XBRL)· 25 Nov 2025verified |
| Total assets | — | 717.7 m | 1.7 bn | 1.4 bn | 1.9 bn | 2.4 bn | SEC (XBRL)· 25 Nov 2025verified |
| Accounts payable | — | 158.4 m | 304.9 m | 65.4 m | 436.7 m | 321.0 m | SEC (XBRL)· 25 Nov 2025verified |
| Short-term debt | — | — | 0 | 22.5 m | 30.4 m | 0 | SEC (XBRL)· 25 Nov 2025verified |
| Long-term debt | — | — | 0 | 28.0 m | 0 | — | SEC (XBRL)· 29 Nov 2024verified |
| Current liabilities | — | 771.5 m | 1.1 bn | 745.7 m | 1.3 bn | 1.4 bn | SEC (XBRL)· 25 Nov 2025verified |
| Total liabilities | — | 773.9 m | 1.1 bn | 795.8 m | 1.3 bn | 1.8 bn | SEC (XBRL)· 25 Nov 2025verified |
| Equity | — | -173.4 m | 629.2 m | 556.3 m | 607.1 m | 548.8 m | SEC (XBRL)· 25 Nov 2025verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -14.0 m | -265.3 m | -282.4 m | -111.9 m | 79.7 m | -145.5 m | SEC (XBRL)· 25 Nov 2025verified |
| Capex | 1.8 m | 4.3 m | 7.9 m | 3.0 m | 8.1 m | 14.9 m | SEC (XBRL)· 25 Nov 2025verified |
| Free cash flow | -15.8 m ≈ | -269.6 m ≈ | -290.3 m ≈ | -114.9 m ≈ | 71.6 m ≈ | -160.4 m ≈ | SEC (XBRL)· 25 Nov 2025derived |
| Investing cash flow | 18.2 m | -22.3 m | -148.4 m | 94.4 m | -19.0 m | -29.8 m | SEC (XBRL)· 25 Nov 2025verified |
| Financing cash flow | 2.5 m | 231.1 m | 817.1 m | 52.6 m | -8.7 m | 356.9 m | SEC (XBRL)· 25 Nov 2025verified |
| Share repurchases | 0 | 0 | 5.0 m | 2.8 m | — | — | SEC (XBRL)· 29 Nov 2023verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 312.1 m USD
Key indicators
Coverage and freshness
Score by group
64% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 9.3% | 0 (on a fixed band) | 17% |
| EBIT margin · Quality | unavailable | unavailable | — |
| FCF margin · Quality | -4.4% | 0 (on a fixed band) | 13% |
| Revenue CAGR 3Y · Growth | 23.6% | 94 (on a fixed band) | 27% |
| Revenue growth (YoY) · Growth | -16.1% | 22 (vs peers) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.3x | 32 (on a fixed band) | 10% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -37.0% | 0 (on a fixed band) | 20% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial32/100 · 1/2 factors with a value
- Growth70/100 · 2/2 factors with a value
- Quality0/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partial0/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Fluence Energy, Inc. (FLNC). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 2.3 bn USD in 2025; YoY growth -16.1%; net margin -3.1%; ROE -20.7%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 23.6%
What contradicts it
- Gross margin: 9.3%
- FCF margin: -4.4%
- Revenue growth (YoY): -16.1%
- FCF yield: -37.0%
Not assessed (insufficient data or a ratio without meaning): EBIT margin, Net debt / EBITDA, EV/Sales, Shareholder yield (distributions).
Versus the vertical median
Miscellaneous Electrical Machinery, Equipment & Supplies (SIC 3690) · same industry (4-digit SIC) · compared with 38 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ENSEnerSys | 5.6 bn | 16.7 | 18.4% | 9.3% | +3.7% | +9% / +76% |
| NOVTNovanta Inc. | 5.5 bn | 92.8 | 5.1% | 6.0% | +3.3% | +28% / +1% |
| ATKRAtkore Inc. | 3.2 bn | — | -11.9% | -5.5% | −11.0% | +37% / −24% |
| SPBSpectrum Brands Holdings, Inc. | 2.1 bn | 28.0 | 4.2% | 2.8% | −5.2% | +54% / +32% |
| NVXNOVONIX Ltd | 1.9 bn | — | -62.0% | -1,650.8% | −4.1% | −81% / −88% |
| ENREnergizer Holdings, Inc. | 1.7 bn | 21.3 | 42.2% | 2.7% | +2.3% | +38% / −18% |
| AMPXAmprius Technologies, Inc. | 1.2 bn | — | -36.1% | -33.4% | +202.1% | −25% / +106% |
| EMATEvolution Metals & Technologies Corp. | 1.2 bn | — | — | — | unavailable | unavailable / unavailable |
| EOSEEos Energy Enterprises, Inc. | 779.3 m | — | — | -246.8% | +631.8% | −86% / +95% |
| ENVXEnovix Corporation | 612.3 m | — | -82.2% | -473.9% | +37.9% | −64% / −75% |
| NRGVEnergy Vault Holdings, Inc. | 578.2 m | — | -225.9% | -48.6% | +340.9% | −8% / +38% |
| SLDPSolid Power, Inc. | 515.7 m | — | -20.5% | -1,152.2% | +8.0% | −57% / +60% |
| FLNCFluence Energy, Inc. | 312.1 m | — | -20.7% | -3.1% | −16.1% | −68% / −68% |
| CHPTChargePoint Holdings, Inc. | 306.4 m | — | -1,015.1% | -40.6% | −1.4% | +39% / −69% |
| SESSES AI Corporation | 286.4 m | — | -31.2% | -289.6% | +929.4% | −60% / −63% |
| ULBIEnerSys | 260.3 m | 1.4 | -4.8% | -3.5% | +16.2% | +175% / +109% |
| MVSTMicrovast Holdings, Inc. | 255.7 m | — | 11.4% | 13.9% | +12.6% | −81% / −43% |
| ELVAElectrovaya Inc. | 173.4 m | — | -673.8% | -3.4% | +170.8% | +7% / +94% |
| ELPWElong Power Holding Ltd. | 145.7 m | — | — | -271.3% | +430.7% | −100% / −100% |
| NEOVNeoVolta, Inc. | 134.6 m | — | -101.1% | -161.0% | +58.2% | −44% / +28% |
| GAUZGauzy Ltd. | 127.5 m | — | — | -51.4% | +32.8% | −86% / unavailable |
| BYRNByrna Technologies Inc. | 97.4 m | — | -14.9% | -9.2% | +37.7% | −77% / −29% |
| EPOWE-Power Inc. | 88.8 m | — | — | -35.8% | −28.6% | −88% / −87% |
| BLNKBlink Charging Co. | 65.4 m | — | -79.9% | -52.2% | −18.0% | −66% / −86% |
| STISolidion Technology, Inc. | 37.8 m | — | -1,382.4% | -23,852.8% | unavailable | −59% / −99% |
1- and 3-year price returns: for FLNC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Fluence Energy is a global provider of battery energy storage systems, operational services and optimization software for renewables and storage. The company matters now because demand for storage is rising with data center power needs, but production execution has lagged and fiscal 2026 revenue guidance was cut to about 3.0 billion USD 13.
SWOT
Strengths
- The company holds a global leadership position, a record backlog and a proprietary software platform that links hardware to services.
- Its portfolio includes both system deliveries and recurring revenue from operations, maintenance and digital applications.
- Customers include utilities and large data center related buyers, giving a demand base spread across segments.
Weaknesses
- Production execution has fallen short in recent quarters, and major deliveries were moved into the next fiscal year.
- Gross margins have compressed sharply and the company has reported net losses in recent periods.
- Reliance on a few large customers and related parties makes revenue sensitive to their investment decisions.
Opportunities
- Power demand from data centers and AI could open large, repeat contracts.
- Domestic content rules could favor a supplier that builds a US supply chain successfully.
- Expanding recurring services and software could improve long-term profitability.
Threats
- Tariffs on Chinese imports and antidumping reviews can raise costs and delay projects.
- Policy changes to tax incentives could reduce demand for storage.
- Rivals with more robust supply chains could offer better prices and delivery times.
Risks
- Production executionhigh
Delays at partner factories and new sites can push deliveries and revenue back, and fixing them may cost more than expected.
- Customer concentrationhigh
A small number of customers account for a large part of revenue, so delays on a few large projects could weigh on quarterly results.
- Material costs and tariffsmedium
Higher lithium prices and tariffs on imported components could reduce margins and delay contracts.
- Liquidity and financingmedium
The company relies on supply chain financing and credit lines that have limits and conditions, and restrictions could constrain its ability to fund growth.
- Policy and regulationmedium
Changes to tax credit rules and prohibited foreign entity restrictions could alter demand and product eligibility.
Investment thesis
What would need to be true (bull case)
- If production reaches target levels early in fiscal 2027, delayed deliveries could be recognized quickly and the record backlog could support solid growth.
- Demand from data center customers could become a new and durable source of large orders with a profile different from utilities.
- Domestic content and proprietary software could give the company a competitive edge that supports better margins over the long term.
What would break the thesis
- If production problems persist, deliveries could keep slipping and guidance could be cut again.
- Very thin margins and net losses could limit the company's ability to invest in growth without additional financing.
- Dependence on large customers and related parties could make revenue vulnerable to sudden changes in their plans.
What to watch
- Pace of delayed project deliveries and production stability at new facilitiesQ1 2027
- Adjusted gross margin and the effect of lithium costs on new contractsQ1 2027
- Order intake from data center customers and the growth of backlog2027
- Outcome of antidumping reviews and domestic content rulesnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Fluence Energy, Inc. is a Delaware corporation listed on Nasdaq under FLNC that operates through Fluence Energy, LLC and its subsidiaries. The company was formed as a joint venture between Siemens and AES and sells utility-scale energy storage solutions with integrated hardware, software and controls 1. Its activity also includes recurring operational and maintenance services and SaaS digital applications for renewable and storage assets 1.
Key customers include utilities, developers, independent power producers and commercial and industrial clients 1. The company depends significantly on a few large customers and on related parties, mainly AES 1. In the quarter ended June 30, 2026, deliveries were delayed by production problems at new contract manufacturing facilities, which led to a downward revision of 2026 guidance 3.
Segments
Energy storage solutions
This is the main segment and generates most revenue, including the Gridstack, Gridstack Pro, Ultrastack and Smartstack systems, all controlled by the proprietary Fluence OS software 1. Revenue depends on delivered volume, on component prices, especially lithium-ion batteries, and on the product mix sold 1.
Market context
BloombergNEF estimates that the global utility-scale market, excluding China, will add about 3,201 GWh between 2024 and 2035 12. Demand is supported by the shift to renewable energy, the need for grid resilience and rising electricity consumption, including from data centers and AI 1. Lithium-ion costs have fallen over the long term, but the company has seen lithium carbonate prices rise since December 2025, which could pressure margins 2.
The gross global pipeline stood at 128.8 GW on September 30, 2025, with United States customers forming the largest share, about 25% of the storage and services pipeline 1. The market remains sensitive to tax policy and trade measures, including tariffs on batteries from China and domestic content rules 12.
Trends
- Data center demandtailwind
Rising electricity use from data centers and AI increases the need for fast storage, and the company reported new contracts from this segment in 2026 13. If this demand converts into deliveries, it could support long-term revenue growth.
- Tax credits and domestic contentmixed
The OBBBA kept the storage tax credit but added prohibited foreign entity restrictions and higher domestic content thresholds 12. The company believes these rules could give it a competitive advantage if its US supply chain works as planned 2.
- Trade tariffs and material costsheadwind
Tariffs on Chinese batteries, combined with antidumping reviews on graphite, raise import costs and could delay contracts 1. The rise in lithium carbonate prices since December 2025 adds pressure on margins 2.
- Contract manufacturer executionheadwind
Delays at new contract manufacturing sites and at a new US plant pushed major deliveries into fiscal 2027 and reduced 2026 guidance 3. If corrective measures work, output could return to target levels early in fiscal 2027 3.
Competitive position
Fluence competes in utility-scale storage with global battery system makers and integrators that can offer shorter US supply chains 1. Its edge rests on technology, software and recurring services, but rivals that build a more robust domestic supply chain could offer products with higher domestic content at better prices 1.
In software and optimization, the company compares with providers of asset management platforms, especially for renewables and storage 1. Competitive pressure could grow if large customers ask for complete solutions combining hardware, services and software in one contract 1.
- Tesla EnergyTSLA
Energy storage division within a larger group, offering battery products for utility and commercial projects.
- Wärtsilä
European energy and storage solutions provider active in markets with strong demand for grid flexibility.
- Siemens Energy
Major grid infrastructure player linked to the founding company Siemens, with a different product profile.
- Asian lithium-ion battery suppliers
Cell and module makers that dominate component costs and influence margins across the industry.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- FLNC Stock Alert: What to Know as Fluence Energy Cuts GuidanceYahoo Finance — News · 17 Sept 2026 · EN
- Traceable Measurement of Peak Irradiance and Fluence Rate Enables Accurate Dose Determination of Pulsed Xenon Ultraviolet DisinfectionEnvironmental Science & Technology · 10 Sept 2026 · EN
- Fluence Has a $6.4 Billion Backlog but Pushed $400 Million of Deliveries Out. Is the AI-Power Story Breaking?Yahoo Finance — News · 05 Sept 2026 · EN
- Laser-Triggered Multimodal Cluster Nanobomb for Ultralow-Fluence Vitreolysis and Vitreous Homeostasis RestorationACS Nano · 03 Sept 2026 · EN
- Fluence Energy Shares Surge After UBS Upgrades Stock to NeutralYahoo Finance — News · 25 Aug 2026 · EN
- Fluence Shares Soar on Design for Nvidia AI Data Center FactoryBloomberg Markets · 01 Jun 2026 · EN
The latest news item in our archive is from 17 Sept 2026; the newest SEC filing is from 02 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report02 Nov 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report09 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report16 Sept 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report01 Sept 2026Departure or appointment of officers · Other events
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report05 Jun 2026Departure or appointment of officers
- Current report15 May 2026Item 3.02 · Other events · Financial statements and exhibits
- Quarterly report06 May 2026
- Current report06 May 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-09-30 · SEC / Fluence Energy, Inc. · 25 Nov 2025
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Fluence Energy, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Fluence Energy, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.