Fluence Energy, a Siemens and AES-backed energy storage company, posted Q3 2025 (period ending June 30, 2025) revenues of $602.7 million, about $100 million below expectations due to a slower US facility ramp-up. Despite this, its profitability improved, and liquidity totaled $903 million.
Fluence has 6 production facilities in the US, namely battery cell manufacturing in Tennessee, module manufacturing in Utah, enclosure and DCPM factory in Arizona, Chiller / HVAC manufacturing in Houston, inverter fab in South Carolina, and communication equipment in Georgia. It expects the company’s Utah-produced battery modules to qualify for Section 45X tax credits under the Inflation Reduction Act (IRA) at $10/kWh.
It is specifically experiencing a slower ramp-up at the enclosure fab in Arizona, due to which it has now pushed some of its anticipated revenue for FY 2025 to the next year. It now sees its US factories reach the targeted capacity by the end of the calendar year 2025.
While Fluence has reaffirmed its FY2025 revenue guidance of $2.6 billion to $2.8 billion, it now expects to achieve the guidance at the lower end, compared to the midpoint of $2.7 billion that the management forecast a quarter back. In FY 2024, it reported $2.69 billion in revenues. Adjusted EBITDA for FY2025 is guided within $0 million to $20 million at the midpoint $10 million.
Nevertheless, the energy storage expanded its annual revenues by around 24.7%, with an adjusted EBITDA of approximately $27.4 million that expanded from $15.6 million in Q3 2024. Fluence also expanded its net income during the reporting quarter to close to $6.9 million, vis-à-vis $1.1 million in the same quarter last year.
Fluence signed close to $508.8 million in new orders in Q3 that expanded its backlog as of June 30, 2025, to approximately $4.9 billion. Additionally, in July and August this year, it also signed $1.1 billion worth of contracts, including 2 in Australia. Its utility scale pipeline expanded from $22 billion to $23.5 billion with 47% in the Americas.
