Fluence Cuts Fiscal 2026 Outlook After Factory Delays

The Tip Desk · August 5, 2026 · 4 min read

The energy-storage company now expects revenue of $2.9 billion to $3.1 billion after $400.0 million of deliveries slipped into fiscal 2027.

Fluence Energy, Inc. (FLNC) said it now expects $400.0 million of project deliveries to slip into fiscal 2027 after production problems at a new international contract manufacturing plant and construction delays that held up completion and start-up of a new U.S. contract manufacturing facility.

The Arlington, Virginia-based energy-storage company cut its fiscal 2026 revenue outlook to approximately $2.9 billion to $3.1 billion, with a midpoint of $3.0 billion, from a prior range of approximately $3.2 billion to $3.6 billion with a midpoint of $3.4 billion that it had reaffirmed in May. Adjusted EBITDA guidance was cut to approximately ($30.0) million to $10.0 million, with a midpoint of approximately ($10.0) million, from prior guidance of approximately $40.0 million to $60.0 million with a midpoint of $50.0 million. The company said the EBITDA reduction reflects the lower revenue outlook and an approximately $15 million upfront cost tied to a planned long-term international battery supply agreement. Annual recurring revenue guidance of approximately $180.0 million by year-end was unchanged.

For the three months ended June 30, 2026, revenue was approximately $649.8 million, compared with approximately $602.5 million a year earlier. The result was weaker than expected, primarily because of production delays at new contract manufacturing facilities. GAAP gross profit margin compressed to approximately 5.1% from approximately 14.8% a year earlier. Adjusted gross profit margin was approximately 5.9%, compared with approximately 15.4% a year earlier, reflecting delays to revenue, initial costs of deploying new product platforms, and the recognized upfront cost of the planned international battery cell supply.

Net loss for the quarter was approximately $44.3 million, versus net income of approximately $6.9 million a year earlier. Adjusted EBITDA was approximately ($29.3) million. In the immediately preceding quarter ended March 31, 2026, revenue had been approximately $464.9 million, GAAP gross profit margin approximately 10.0%, and adjusted EBITDA approximately ($9.4) million.

Order intake more than tripled. The company booked more than $1.44 billion of orders in the June quarter, versus approximately $508.8 million a year earlier. Backlog rose to approximately $6.4 billion as of June 30, 2026, the highest level in company history, from approximately $5.6 billion at March 31. Chief Financial Officer Ahmed Pasha said the delayed U.S. project revenue remains in backlog and is expected to be recognized in fiscal 2027.

Data-center demand was a second thread. Fluence secured approximately $850.0 million of data-center business through July, including its first large behind-the-meter order in the third quarter and approximately $550.0 million of awards from a hyperscaler in July 2026. President and Chief Executive Officer Julian Nebreda said customer demand continues to strengthen and that the company has been increasing production capacity globally, while acknowledging production has been behind this year’s expectation and that steps have been taken to reach targeted production levels early in fiscal 2027.

Energy storage products and solutions contracted backlog stood at 12.6 GW as of June 30, 2026, versus 9.1 GW at September 30, 2025. Pipeline for those products was 45.6 GW, or 163.7 GWh. Services contracted backlog was 7.9 GW and digital contracted backlog 13.9 GW. Deployed energy storage was 7.4 GW, or 19.3 GWh.

Total liquidity was approximately $863.0 million as of June 30, 2026, including total cash of approximately $365.0 million, down from approximately $900.0 million of liquidity and approximately $412.9 million of cash at March 31. Cash and cash equivalents were $339.3 million, with restricted cash of $25.6 million. Inventory, net, was $783.0 million. Deferred revenue was $956.5 million. Remaining availability under the revolving credit facility was $307.0 million, with $193.0 million of outstanding letters of credit.

Nebreda said the company remains confident in the long-term opportunity and its positioning, citing record order intake and backlog and momentum across customer segments including data centers. The delayed $400.0 million of deliveries is the swing that moved the full-year plan; the backlog and July hyperscaler awards are the forward book the company is pointing to as it works to restore production in fiscal 2027.