Fluence Energy, Inc. reported its financial results for the fiscal year ended September 30, 2025, showing a decrease in total revenue to $2.26 billion, a 16.1% decline compared to $2.70 billion in the previous fiscal year. This decrease was primarily attributed to a $475.7 million reduction in revenue from energy storage solutions, driven by lower average prices per GWh for newer Gridstack Pro solutions, reflecting declining lithium-ion battery costs. This was partially offset by a $39.1 million increase in services revenue, resulting from additional energy storage solutions being deployed and transitioned to assets under management, as well as increases in augmentation activities. The company experienced a net loss of $68.0 million, compared to a net income of $30.4 million in fiscal year 2024.
The company's cost of goods and services decreased by 16.6% to $1.97 billion, compared to $2.36 billion in the previous fiscal year, primarily due to lower lithium-ion battery costs and improved operational efficiencies on legacy Gridstack solutions projects. Gross profit decreased by 13.3% to $295.8 million, with a gross profit margin of 13.1%, compared to 12.6% in the prior year. Operating expenses increased in research and development by 30.2% to $86.2 million and in sales and marketing by 24.5% to $79.5 million, while general and administrative expenses decreased by 5.7% to $163.1 million.
Key operational developments included an increase in deployed energy storage assets to 6.8 GW and a contracted backlog of 9.1 GW. The company's global operational and maintenance services team provided services for 5.6 GW of energy storage assets, with a contracted backlog of 7.0 GW. Renewable energy assets using Fluence digital offerings reached 22.0 GW, with a contracted backlog of 12.1 GW. Order intake for energy storage products and solutions contracted by 34.6% to 3.4 GW, while service contracts increased by 50.0% to 4.5 GW, and digital contracts decreased by 23.3% to 6.6 GW.
Fluence is navigating a complex regulatory landscape, including the Inflation Reduction Act (IRA) and the One Big Beautiful Bill Act (OBBBA), which significantly modified certain provisions of the IRA related to energy storage. The company is implementing risk mitigation strategies to address potential impacts from Prohibited Foreign Entity (PFE) restrictions and is working with U.S. domestic suppliers to achieve compliance with OBBBA conditions. Fluence is also addressing risks associated with preliminary increased graphite AAM AD/CV tariffs by building additional costs into its contracting process and exploring alternative sourcing strategies. As of September 30, 2025, the company had approximately 1,670 full-time employees across 15 countries.
Looking ahead, Fluence is focused on leveraging its global scale, product development, and market share position to drive growth. The company is targeting new customers, developing innovative energy storage solutions and digital software offerings, and expanding its services with additional value-add offerings. Fluence is also focused on expanding its business with standardized offerings optimized for each sales channel and moving towards an organizational structure designed to support specific customer types, improve logistics, and enhance market focus. The company's future performance is subject to various risks and uncertainties, including changes in government incentives, fluctuations in order intake, competition, supply chain disruptions, and regulatory compliance.
About Fluence Energy, Inc.
Fluence Energy specializes in delivering intelligent energy storage solutions, digital software, and operational services for renewable and power assets. Its offerings include modular battery systems, energy management software, and maintenance services, serving utilities, independent power producers, and commercial customers worldwide. The company focuses on grid resilience, renewable integration, and optimizing energy assets, leveraging technology leadership, mass manufacturing, and global supply chain strategies to support the transition to sustainable energy.
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