Fluence Energy
Integrates grid-scale battery storage with lifecycle services and asset optimization software.
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Profile
Integrates grid-scale battery storage systems and earns primarily from product sales, with maintenance services and Mosaic and Nispera software adding recurring revenue. Projects serve utilities, developers, and power producers worldwide while relying on third-party battery suppliers, contract manufacturers, and local grid and incentive rules.
Designs and delivers grid-scale battery energy storage systems, then supports installed assets with commissioning, operations, maintenance, and lifecycle services. Gridstack Pro and Gridstack serve front-of-the-meter projects; Ultrastack targets transmission and distribution uses, while Smartstack uses a modular split architecture. Fluence OS controls each storage system, and the Mosaic and Nispera cloud applications handle energy-market bidding and asset performance, respectively.
Serves utilities, independent power producers, developers, and other generators across the Americas, Europe, and Asia-Pacific from a single reportable segment. Configurable platforms combine factory-built modules with proprietary controls for capacity, frequency regulation, renewable integration, and other grid services. Product sales generate most revenue, with service and software contracts adding recurring income. Delivery depends on lithium-ion battery and inverter suppliers, third-party contract manufacturers, project permitting and interconnection, and changing trade, tax-credit, and electricity-market rules.
Company facts
Key statistics
Year to date −52.7% · Average volume (30d) 7.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | UBS | Upgrade | Sell | Neutral | $8 | $12 |
| Aug 20, 2026 | GLJ Research | Downgrade | Buy | Hold | $26 | $12.89 |
| Aug 7, 2026 | Roth Capital | Target | $13 | $18 | ||
| Aug 7, 2026 | RBC Capital | Reiterate | Sector Perform | $16 | $15 | |
| Aug 7, 2026 | Canaccord Genuity | Target | $28 | $24 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q3 FY26 | $0.00 | −$0.24 | — | $818.6M | $649.8M | −20.6% | −7.17% |
| May 6, 2026Q2 FY26 | −$0.18 | −$0.16 | +11.1% | $614.9M | $464.9M | −24.4% | +39.90% |
| Feb 4, 2026Q1 FY26 | −$0.18 | −$0.34 | −88.9% | $481.2M | $475.2M | −1.2% | −34.63% |
| Nov 24, 2025Q4 FY25 | $0.19 | $0.13 | −32.7% | $1.39B | $1.04B | −24.9% | +6.14% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $431.6M | $602.5M | $1.04B | $475.2M | $464.9M | $649.8M | |
| Gross profit | $42.6M | $89.1M | $142.9M | $23.0M | $42.4M | $33.2M | |
| Operating income | −$45.1M | $4.0M | $48.4M | −$63.1M | −$38.4M | −$53.5M | |
| Net income | −$31.0M | $6.3M | $17.9M | −$45.1M | −$20.9M | −$32.8M | |
| Diluted EPS | −$0.24 | $0.03 | $0.10 | −$0.34 | −$0.16 | −$0.24 | |
| Gross margin | 9.9% | 14.8% | 13.7% | 4.9% | 9.1% | 5.1% | |
| Operating margin | -10.4% | 0.7% | 4.6% | -13.3% | -8.3% | -8.2% |
Fiscal years (4-quarter sums)FY21 $680.8M · FY22 $1.20B · FY23 $2.22B · FY24 $2.70B · FY25 $2.26B
Revenue by product · Q3 FY26
Revenue by geography · Q3 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $339.3M · Total debt $392.2M · Total assets $2.62B · Shareholders' equity $373.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 131.46M · Float 65.72M · 50.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| The AES Corporation | 41.43M | 22.48% | 13G | May 18, 2026 |
| Siemens Pension Trust E V | 21.69M | 16.50% | 13F | Aug 14, 2026 |
| Siemens AG | 19.74M | 15.02% | 13F | Aug 14, 2026 |
| SPT Holding Sarl · 10 percent owner | 12.99M | 9.88% | Form 4 | Jul 8, 2026 |
| Qatar Investment Authority | 11.80M | 8.90% | 13D | May 19, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 23, 2026 | John Zahurancik | officer: SVP & CCSO | −15,974 | $22.03 |
| Jun 22, 2026 | John Zahurancik | officer: SVP & CCSO | −16,000 | $25.18 |
| Jun 15, 2026 | Harald von Heynitz | director | −5,000 | $25.00 |
| May 15, 2026 | Aes Corp | 10 percent owner | −10,066,414 | $21.00 |
| May 15, 2026 | Investment Authority Qatar | 10 percent owner | −2,867,172 | $21.00 |
Peers
- Tesla
Megapack + Autobidder: dominant US utility-scale BESS and dispatch software
- Stem
AI platform for solar+storage optimization; 37.5 GW AUM, software-only model
