Q3 2025 Fluence Corporation Ltd Earnings Call Transcript
Key Points
- Fluence Corp Ltd (EMFGF) reported a year-to-date revenue of over $52 million, marking a 70% growth compared to the same period last year.
- The company achieved an EBITDA of $1.2 million for the first three quarters, showing a significant increase from the previous year.
- Order bookings in Q3 were strong at over $17 million, nearly 10% higher than Q3 of last year, contributing to a backlog of over $75 million.
- The One Fluence strategy is showing positive results, with successful cooperation between business units leading to significant project wins.
- The company is maintaining its revenue guidance for the year between $80 million and $95 million, with expectations of strong Q4 bookings and revenue.
- Gross margins have decreased year-to-date compared to the previous year, primarily due to the lower-margin Ivory Coast Addendum project.
- The Industrial Water & Reuse unit did not experience EBITDA growth, attributed to lower spare parts revenue in the first half of the year.
- The company expects to finish the year at the lower end of its EBITDA guidance of $3 million to $5 million.
- Q4 is forecasted to have negative operating cash flow due to timing of collections and payables related to the Ivory Coast project.
- The US production facility for MABR technology is delayed due to strategic cash flow management, impacting the ability to meet Buy American requirements for municipal contracts.
Hello, everyone. Welcome to the Fluence Q3 2025 Quarterly Conference Call and Activities Report. As Andrew said, I am Tom Pokorsky, CEO and MD. And with me today is Ben Fash, our CFO.
Well, we continue to make progress on our One Fluence strategy and our growth plans in the higher-margin market sectors. Our year-to-date revenue at the end of Q3 was over $52 million, which represents over a 70% growth from Q3 of -- year-to-date Q3 of last year. A good deal of that increase is, of course, due to the fact that the Ivory Coast Addendum continues to progress, which was stalled last year for most of the year. However, we also saw about a 26.6% growth in our SPS revenues, which is a critical part of our growth plans in our new strategy.
Our EBITDA for the first three quarters is $1.2 million, representing a growth over the last year of about $2.6 million for the quarter and $6.2 million year-to-date. While a significant amount of the increase is due to the increased revenue from IVC, which
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