Q3 2026 Fluence Energy Inc Earnings Call Transcript
Key Points
- Record order intake of $1.44 billion in Q3, nearly triple the prior year, with total orders up 80% year-to-date.
- Record backlog of $6.4 billion, up 14% sequentially and over 30% year-over-year, providing strong revenue visibility.
- Successful entry into the data center market with $850 million in orders/awards, including a $300 million deal with a developer and $550 million from a hyperscaler.
- Data center pipeline surged to 16 GWh, a 35% increase quarter-over-quarter, with faster sales cycles (3 months from lead to order).
- SmartStack product platform gaining traction, representing 75% of orders year-to-date, with new SmartStack 10 increasing density to 10 MWh per unit.
- Revenue guidance for fiscal 2026 lowered by $400 million to a midpoint of $3 billion due to production delays at new manufacturing facilities.
- Adjusted EBITDA guidance reduced to a midpoint of negative $10 million, down from $50 million, reflecting lost margins and one-time costs.
- Q3 revenue of $650 million was $90 million below expectations, impacted by ramp-up issues at two new contract manufacturing plants.
- Incurred $15 million in costs related to new product rollout and production delays, plus a $15 million loss on a planned battery supply agreement.
- Liquidity remains at $863 million, below the $900 million target, with potential need for $300-500 million additional working capital to support growth.
Good morning, and welcome to Fluence Energy's third quarter earnings conference call.
Joining me on this morning's call are Julian Nabreda, our President and Chief Executive Officer and Ahmed Pasha, our Chief Financial Officer.
A copy of our earnings presentation, press release, and supplementary metric sheet covering financial results along with supporting statements and schedules, including reconciliations and disclosures regarding non-GAAP financial measures are posted on the Investor Relations section of our website at fluenceenergy.com.
During the course of this call, Fluence Management may make certain forward-looking statements regarding various matters relating to our business, including, but not limited to. Statements related to our future financial and operational performance, future market growth and related opportunities, anticipated growth and business strategy, liquidity and access to capital, expectations relating to pipeline, order intake and contracted backlog.
Future results of
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