Australia · Delayed Price · Currency is AUD Fluence Corporation Earnings Call Transcripts
Fiscal Year 2025
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Q4 and fiscal 2025 marked a major turnaround, with revenue up 52% year-over-year and EBITDA swinging to $4 million. Record orders, strong backlog, and expanding gross margins position the company for double-digit growth in 2026.
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Revenue grew 72.9% year-over-year to $52.4 million, driven by the Ivory Coast project and SPS segment growth. EBITDA improved $6.2 million year-to-date, with strong order bookings and a $75.7 million backlog. Guidance for 2025 is maintained, with Q4 expected to be the strongest quarter.
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The meeting addressed resolutions on issuing options and termination benefits for Benjamin Fash, and conversion of interest to shares, with voting conducted virtually. No shareholder questions were received, and poll results will be released to the ASX.
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Revenue grew 65% year-over-year in H1 2025, driven by the Ivory Coast project and Smart Product Solutions, with improved gross margins and cost controls. Strong backlog and new orders support full-year guidance, though tariff risks and China market weakness remain.
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Four global business units are driving growth through high-margin, technology-led solutions, recurring revenue, and cross-unit collaboration. Financial performance is improving, with strong margins, a diversified backlog, and a focus on sustainable, cash-positive growth.
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The meeting reviewed 2024's financial underperformance due to project delays and economic headwinds, but highlighted progress in recurring revenue, cost reduction, and strategic refocusing. Management addressed shareholder concerns, outlined growth plans, and all resolutions passed with strong support.
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Q1 2025 saw revenue rise 65% year-over-year to $16.6 million, with EBITDA turning slightly positive and cost reductions continuing. Backlog and new orders grew, guidance for 2025 is maintained, and tariff risks are being actively managed.
Fiscal Year 2024
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Fiscal 2024 saw revenue decline 26.5% year-over-year due to project delays and weak China performance, but core businesses grew and Q4 was strong. Cost reductions, a robust backlog, and new orders position the company for profitable growth and positive cash flow in 2025.
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Q3 2024 saw a 28% revenue decline year-over-year due to Ivory Coast project delays and China market weakness, but core business revenue grew 11% and gross margins improved. Backlog and pipeline are strong, with management expecting a significant rebound in 2025.
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First half 2024 results were impacted by project delays, especially in Ivory Coast, and softness in China, leading to revised full-year guidance of $70–$75 million in revenue and break-even EBITDA. Core business units showed strong growth, with improved gross margins and a significant increase in backlog.