Fluence’s statistics span operating scale, contracted work, prospective pipeline, digital services and financial performance. The company’s fiscal year runs from October 1 through September 30, so FY2025 refers to the year ended September 30, 2025; Q1 FY2026 refers to the quarter ended December 31, 2025.
Key Fluence Statistics
The most broadly useful Fluence figures are:
- 6.8 GW of energy-storage assets were deployed across 33 markets in 25 countries in Fluence’s global portfolio at September 30, 2025.
- 17.8 GWh of energy-storage products were deployed during the cumulative milestone reported for FY2025 ended September 30, 2025.
- Deployed energy-storage capacity rose by 1.8 GW, or 36.0%, in FY2025 versus FY2024.
- Deployed energy-storage energy rose by 5.0 GWh, or 39.1%, in FY2025 versus FY2024.
- The gross global pipeline was 128.8 GW at September 30, 2025.
- Energy-storage product contracted backlog was 9.1 GW in FY2025.
- Energy-storage product pipeline reached 35.7 GW in FY2025.
- Fluence executed $1.4 billion of orders in Q4 FY2025.
- Contractual backlog was $5.3 billion at FY2025 year-end.
- O&M services covered 5.6 GW of assets at September 30, 2025.
- Digital-contract assets under management were 22.0 GW in FY2025.
- FY2025 revenue was $2.263 billion for the consolidated company.
- FY2025 GAAP gross margin was 13.1%, compared with 12.6% in FY2024.
- FY2025 net loss was $67.989 million for the consolidated company.
- Cash and cash equivalents were $690.768 million at September 30, 2025.
- Q3 FY2025 revenue was approximately $602.5 million, up 24.7% year over year, for the quarter ended June 30, 2025.
- Q1 FY2026 revenue was approximately $475.2 million, up 154.4% year over year, for the quarter ended December 31, 2025.
- FY2026 revenue guidance was approximately $3.2 billion to $3.6 billion, with a $3.4 billion midpoint.
Contents
- Energy storage deployment and geographic scale
- Backlog and pipeline trends
- Services and digital optimization
- Revenue, margins and profitability
- Liquidity, balance sheet and cash flow
- Quarterly results and FY2026 outlook
Fluence Energy Storage Deployment and Geographic Scale Statistics
Fluence distinguishes deployed products from assets under management, contracted backlog and pipeline. Those categories describe different stages of activity and should not be treated as interchangeable.
| Measure | FY2024 | FY2025 or latest period |
|---|---|---|
| Deployed energy-storage products | 5.0 GW; 12.8 GWh | 17.8 GWh in FY2025 |
| Year-over-year deployed capacity change | — | 1.8 GW, or 36.0% |
| Year-over-year deployed energy change | — | 5.0 GWh, or 39.1% |
| Deployed global portfolio | — | 6.8 GW across 33 markets in 25 countries at September 30, 2025 |
The FY2024 deployed-product milestones were 5.0 GW and 12.8 GWh for the year ended September 30, 2024. In FY2025, the company reported 17.8 GWh of deployed energy-storage products and a year-over-year increase of 1.8 GW, or 36.0%, in deployed capacity.
The corresponding year-over-year increase in deployed energy was 5.0 GWh, or 39.1%, in FY2025. Fluence reported 6.8 GW deployed across 33 markets in 25 countries at September 30, 2025; “deployed” is a company operating metric tied to a project milestone.
Source: Fluence Energy, Inc. Form 10-K for fiscal year ended September 30, 2025.
Fluence Backlog and Pipeline Trends in Energy Storage
Backlog represents contracted project milestones, while pipeline is prospective and may not convert into orders, deployments or revenue. The distinction is important when interpreting the sharp FY2025 increases.
| Energy-storage measure | FY2024 | FY2025 |
|---|---|---|
| Contracted product backlog | 7.5 GW | 9.1 GW |
| Product pipeline | 25.8 GW; 80.5 GWh | 35.7 GW; 122.0 GWh |
| Reported change | — | Backlog +1.6 GW, or 21.3%; pipeline +9.9 GW, or 38.4%, and +41.5 GWh, or 51.6% |
Energy-storage product contracted backlog grew from 7.5 GW in FY2024 to 9.1 GW in FY2025, a reported increase of 1.6 GW, or 21.3%. The energy-storage product pipeline rose from 25.8 GW and 80.5 GWh in FY2024 to 35.7 GW and 122.0 GWh in FY2025.
Fluence reported those pipeline increases as 9.9 GW, or 38.4%, and 41.5 GWh, or 51.6%, respectively. At the broader company level, Q4 FY2025 orders were $1.4 billion, while contractual backlog was $5.3 billion at September 30, 2025.
Approximately 13% of FY2025 remaining performance obligations were with AES. Orders and backlog are not recognized revenue, and backlog may not produce revenue in the anticipated period or at all.
Source: Fluence Energy, Inc. Form 10-K for fiscal year ended September 30, 2025.
Fluence Services and Digital Optimization Data
Service and digital metrics show the reach of Fluence offerings beyond newly deployed products. O&M assets under management, digital-contract assets and their backlogs measure contracted or managed coverage, not necessarily Fluence-owned assets.
| Service or digital measure | FY2024 | FY2025 |
|---|---|---|
| O&M assets under management | 4.3 GW | 5.6 GW |
| O&M contracted backlog | 4.1 GW | 7.0 GW |
| Digital-contract assets under management | 18.3 GW | 22.0 GW |
| Digital-contract backlog | — | 12.1 GW |
| O&M service pipeline | — | 29.4 GW |
| Digital-contract pipeline | — | 63.7 GW |
O&M assets under management increased 1.3 GW, or 30.2%, from 4.3 GW in FY2024 to 5.6 GW in FY2025. O&M contracted backlog increased from 4.1 GW to 7.0 GW, a reported gain of 2.9 GW, or 70.7%.
The O&M service pipeline was 29.4 GW in FY2025. Digital-contract assets under management reached 22.0 GW, up 3.7 GW, or 20.2%, from 18.3 GW in FY2024; digital-contract backlog was 12.1 GW and digital-contract pipeline was 63.7 GW.
Source: Fluence Energy, Inc. Form 10-K for fiscal year ended September 30, 2025. The company notes that digital offering coverage is not identical to Fluence-owned assets, and pipeline figures are prospective.
Fluence Revenue, Margins and Profitability Statistics
FY2025 revenue was lower than FY2024, while reported GAAP gross margin was modestly higher. Adjusted gross profit, adjusted gross margin and adjusted EBITDA are company-defined non-GAAP measures and may not be comparable with other companies.
| Consolidated measure | FY2024 | FY2025 |
|---|---|---|
| Revenue | $2.699 billion | $2.263 billion |
| GAAP gross margin | 12.6% | 13.1% |
| Net result | $30.367 million net income | $67.989 million net loss |
| Adjusted EBITDA | $78.106 million | $19.455 million |
FY2025 cost of goods and services was $1.967 billion, and GAAP gross profit was $295.785 million. The company reported adjusted gross profit of $309.538 million and adjusted gross margin of 13.7%; these are non-GAAP figures based on specified company reconciliation items.
The FY2025 net result was a $67.989 million GAAP net loss, compared with FY2024 net income of $30.367 million. Adjusted EBITDA was $19.455 million in FY2025 versus $78.106 million in FY2024, using the company’s defined adjustments.
Sources: Fluence Energy, Inc. Form 10-K for fiscal year ended September 30, 2025; Fluence Energy, Inc. Reports 2025 Financial Results and Initiates 2026 Guidance.
Fluence Liquidity, Balance Sheet and Cash-Flow Statistics
The September 30, 2025 balance sheet combined substantial current assets with significant liabilities and a negative full-year operating cash flow. Period-end balances and annual cash-flow measures describe different points or spans of time.
| Balance-sheet or cash-flow measure | September 30, 2025 or FY2025 |
|---|---|
| Cash and cash equivalents | $690.768 million |
| Total current assets | $2.064 billion |
| Inventory | $455.015 million |
| Total liabilities | $1.808 billion |
| Convertible senior notes, net | $390.804 million |
| Net cash used in operating activities | $145.538 million |
| Free cash flow | Negative $160.422 million |
Cash and cash equivalents were $690.768 million at September 30, 2025, while total current assets were $2.064 billion. Inventory was $455.015 million, total liabilities were $1.808 billion and convertible senior notes, net, were $390.804 million at the same date.
For FY2025, net cash used in operating activities was $145.538 million. Free cash flow was negative $160.422 million under the company’s definition; this non-GAAP measure is not identical to cash that management could necessarily distribute.
Source: Fluence Energy, Inc. Form 10-K for fiscal year ended September 30, 2025.
Fluence Quarterly Results and FY2026 Outlook Statistics
Quarterly figures show substantial changes in reported revenue, margin and liquidity across the periods available. FY2026 guidance is a management forecast, not an observed outcome.
| Period | Revenue | GAAP gross margin | Other reported measure |
|---|---|---|---|
| Q3 FY2025, quarter ended June 30, 2025 | Approx. $602.5 million; +24.7% year over year | Approx. 14.8% | Adjusted EBITDA approx. $27.4 million; order intake approx. $508.8 million |
| Q1 FY2026, quarter ended December 31, 2025 | Approx. $475.2 million; +154.4% year over year | Approx. 4.9% | Net loss approx. $62.6 million; order intake above $750 million |
At June 30, 2025, total cash was approximately $459.9 million and total liquidity was approximately $903 million, including $342.5 million of revolver capacity. At December 31, 2025, total liquidity was approximately $1.1 billion, including $378.3 million of revolver capacity.
Q1 FY2026 backlog reached approximately $5.5 billion after order intake exceeded $750 million. Management cited project cost estimates and seasonality in the Q1 FY2026 gross-margin context, so the 4.9% quarterly GAAP margin should be read as a period-specific result.
| FY2026 management guidance issued February 4, 2026 | Guidance |
|---|---|
| Revenue | Approximately $3.2 billion–$3.6 billion; $3.4 billion midpoint |
| Adjusted EBITDA | Approximately $40 million–$60 million; $50 million midpoint |
| Annual recurring revenue by FY2026 year-end | Approximately $180 million |
The FY2026 revenue and adjusted EBITDA ranges, plus the annual recurring revenue target, are forecasts. Annual recurring revenue is a recurring-revenue metric rather than total revenue, and actual outcomes can differ.
Sources: Fluence Energy, Inc. Reports Third Quarter 2025 Results; Reaffirms Fiscal Year 2025 Guidance; Fluence Energy, Inc. Reports First Quarter 2026 Results; Reaffirms Fiscal Year 2026 Guidance; Fluence Energy, Inc. Reports 2025 Financial Results and Initiates 2026 Guidance.