Fluence Energy Inc
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 8, 2024
FLNC$4.91-9.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(U.S. Dollars in Thousands)
| Three Months Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Operating activities | ||
| Net loss | $(25,556) | $(37,193) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 2,883 | 2,424 |
| Amortization of debt issuance costs | 682 | 229 |
| Inventory (benefit) provision | 298 | (330) |
| Stock-based compensation expense | 5,630 | 8,477 |
| Deferred income taxes | 295 | (951) |
| Provision on loss contracts, net | (524) | (2,720) |
| Changes in operating assets and liabilities: | ||
| Trade receivables | (70,550) | (21,821) |
| Unbilled receivables | 11,895 | (85,959) |
| Receivables from related parties | (16,882) | 55,349 |
| Advances to suppliers | 3,216 | 8,033 |
| Inventory | (336,408) | (430,541) |
| Other current assets | (48,709) | (3,507) |
| Other non-current assets | 26,459 | 375 |
| Accounts payable | 255,347 | 200,722 |
| Payables and deferred revenue with related parties | 148,417 | 51,716 |
| Deferred revenue | 99,051 | 196,026 |
| Current accruals and provisions | (455) | (20,907) |
| Taxes payable | (1,438) | (3,216) |
| Other current liabilities | (5,496) | (4,806) |
| Other non-current liabilities | (28,792) | (298) |
| Net cash provided by (used in) operating activities | 19,363 | (88,898) |
| Investing activities | ||
| Proceeds from maturities of short-term investments | — | 1,178 |
| Payments for purchase of investment in joint venture | — | (5,013) |
| Capital expenditures on software | (1,128) | — |
| Purchase of property and equipment | (1,468) | (2,496) |
| Net cash used in investing activities | (2,596) | (6,331) |
| Financing activities | ||
| Repurchase of Class A common stock placed into treasury | — | (288) |
| Payment of debt issuance costs | (3,583) | — |
| Payments for acquisitions | (3,892) | — |
| Proceeds from exercise of stock options | 1,116 | 2,398 |
| Proceeds from borrowing against note receivable - pledged as collateral | — | 21,142 |
| Net cash (used in) provided by financing activities | (6,359) | 23,252 |
| Effect of exchange rate changes on cash and cash equivalents | 3,418 | (5,776) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 13,826 | (77,753) |
| Cash, cash equivalents, and restricted cash as of the beginning of the period | 462,731 | 429,721 |
| Cash, cash equivalents, and restricted cash as of the end of the period | $476,557 | $351,968 |
| Supplemental Cash Flows Information | ||
| Interest paid | $722 | $274 |
| Cash paid for income taxes | $916 | $284 |
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