Fluence Energy, Inc.
For the period ended Sep 30, 2025. Filed Nov 25, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Nov 25, 2025
FLNC$4.91-9.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated statements of cash flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (U.S. Dollars in Thousands)
| Fiscal Year Ended September 30, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities | |||
| Net (loss) income | $(67,989) | $30,367 | $(104,818) |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
| Depreciation and amortization | 29,343 | 14,482 | 10,665 |
| Amortization of debt issuance costs | 4,217 | 3,091 | 914 |
| Inventory provision (recovery) | 6,959 | 23,972 | (1,029) |
| Stock-based compensation | 19,540 | 23,855 | 26,920 |
| Deferred income taxes | 6,351 | (6,719) | 2,542 |
| Changes in operating assets and liabilities: | |||
| Trade receivables | (56,715) | (114,577) | (13,397) |
| Unbilled receivables | (68,045) | 24,747 | (50,503) |
| Receivables from related parties | 161,780 | (303,963) | 53,611 |
| Advances to suppliers | 49,113 | (64,258) | (36,490) |
| Inventory | (278,729) | 21,731 | 432,767 |
| Other current assets | 20,413 | (10,986) | (36,828) |
| Other non-current assets | (86,819) | (28,100) | (16,632) |
| Accounts payable | (119,228) | 370,124 | (242,268) |
| Deferred revenue with related parties | 41,725 | (72,201) | (191,431) |
| Deferred revenue | 361,903 | (9,796) | (6,934) |
| Current accruals and provisions | (93,586) | 160,206 | (12,360) |
| Taxes payable | (27,891) | 22,799 | 15,753 |
| Other current liabilities | (58,305) | 18,185 | 39,467 |
| Other non-current liabilities | 10,425 | (23,274) | 18,124 |
| Net cash (used in) provided by operating activities | (145,538) | 79,685 | (111,927) |
| Investing activities | |||
| Proceeds from maturities of short-term investments | — | — | 111,674 |
| Payments for purchase of investment in joint venture | — | — | (5,013) |
| Capital expenditures on software | (14,915) | (10,860) | (9,235) |
| Purchase of property and equipment | (14,884) | (8,115) | (2,989) |
| Net cash (used in) provided by investing activities | (29,799) | (18,975) | 94,437 |
| Financing activities | |||
| Proceeds from borrowing against note receivable - pledged as collateral | — | — | 48,176 |
| Class A common stock withheld related to settlement of employee taxes for stock-based compensation awards | (753) | (1,663) | (2,784) |
| Proceeds from issuance of 2030 Convertible Senior Notes | 400,000 | — | — |
| Purchases of Capped Calls related to 2030 Convertible Senior Notes | (29,000) | — | — |
| Proceeds from exercise of stock options | 2,170 | 5,335 | 7,203 |
| Distribution to AES Grid Stability | (1,035) | — | — |
| Principal payments on finance leases | (2,370) | — | — |
| Payments of debt issuance costs | (12,132) | (8,456) | — |
| Payments for acquisitions | — | (3,892) | — |
| Net cash provided by (used in) financing activities | 356,880 | (8,676) | 52,595 |
| Effect of exchange rate changes on cash and cash equivalents | 14,381 | 3,941 | (2,095) |
| Net increase in cash and cash equivalents | 195,924 | 55,975 | 33,010 |
| Cash, cash equivalents, and restricted cash as of the beginning of the period | 518,706 | 462,731 | 429,721 |
| Cash, cash equivalents, and restricted cash as of the end of the period | $714,630 | $518,706 | $462,731 |
| Supplemental disclosure of cash flow information | |||
|---|---|---|---|
| Interest paid | $9,296 | $3,022 | $2,336 |
| Cash paid for income taxes | $19,043 | $2,661 | $1,240 |
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