Fluence Energy Inc
For the period ended Mar 31, 2024. Filed May 9, 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.
Mar 31, 2024 · Filed May 9, 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 Operations and Comprehensive Loss
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE LOSS (UNAUDITED)
(U.S. Dollars in Thousands, except share and per share amounts)
| Three Months EndedMarch 31, | Six Months Ended March 31, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $280,652 | $405,110 | $528,034 | $614,564 |
| Revenue from related parties | 342,489 | 293,076 | 459,063 | 394,082 |
| Total revenue | 623,141 | 698,186 | 987,097 | 1,008,646 |
| Cost of goods and services | 558,961 | 667,373 | 886,531 | 965,793 |
| Gross profit | 64,180 | 30,813 | 100,566 | 42,853 |
| Operating expenses: | ||||
| Research and development | 17,427 | 22,551 | 32,867 | 41,713 |
| Sales and marketing | 15,792 | 10,401 | 26,498 | 19,193 |
| General and administrative | 44,067 | 31,778 | 81,795 | 63,045 |
| Depreciation and amortization | 2,482 | 2,669 | 4,965 | 5,093 |
| Interest income, net | (1,261) | (2,075) | (3,254) | (2,731) |
| Other expense (income), net | 215 | 3,012 | (972) | (8,130) |
| Loss before income taxes | (14,542) | (37,523) | (41,333) | (75,330) |
| Income tax benefit | (1,666) | (126) | (2,901) | (740) |
| Net loss | $(12,876) | $(37,397) | $(38,432) | (74,590) |
| Net loss attributable to non-controlling interest | $(3,707) | $(12,542) | $(12,520) | (25,093) |
| Net loss attributable to Fluence Energy, Inc. | $(9,169) | $(24,855) | $(25,912) | $(49,497) |
| Weighted average number of Class A common shares outstanding | ||||
| Basic and diluted | 126,843,301 | 116,266,838 | 123,962,636 | 115,825,339 |
| Loss per share of Class A common stock | ||||
| Basic and diluted | $(0.07) | $(0.21) | $(0.21) | $(0.43) |
| Foreign currency translation (loss) gain, net of income tax expense (benefit) of $(0.2) million in the three months ended March 31, 2024, $0.1 million in the six months ended March 31, 2024, and $0.1 million in the three months ended March 31, 2023, and $0.4 million six months ended March 31, 2023 | (1,603) | (1,469) | 32 | (5,054) |
| Total other comprehensive (loss) income | $(1,603) | $(1,469) | $32 | $(5,054) |
| Total comprehensive loss | $(14,479) | $(38,866) | $(38,400) | $(79,644) |
| Comprehensive loss attributable to non-controlling interest | (4,170) | $(13,036) | $(12,527) | $(26,798) |
| Total comprehensive loss attributable to Fluence Energy, Inc. | $(10,309) | $(25,830) | $(25,873) | $(52,846) |
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