Fluence Energy reported stronger second-quarter fiscal 2026 results, highlighting accelerating customer demand, record backlog growth, and improving profitability as the global energy storage market expands.
The Arlington, Virginia-based company posted revenue of approximately $464.9 million for the quarter ended March 31, 2026, up 7.7% from the same period last year. Gross profit margin improved slightly to 10.0%, while adjusted gross profit margin rose to 11.1%.
Fluence narrowed its quarterly net loss to $29.2 million from $41.9 million a year earlier. Adjusted EBITDA also improved significantly, reaching negative $9.4 million compared to negative $30.4 million in the prior-year quarter.
A major highlight was the sharp increase in order intake, which doubled year-to-date to around $2.0 billion through May 6, 2026. The company’s backlog climbed to a record $5.6 billion as of March 31, reflecting strong demand for battery storage systems, digital energy management solutions, and long-term services.
Chief Executive Officer Julian Nebreda said the company is beginning to benefit from pipeline expansion and customer diversification efforts. Fluence also signed master supply agreements with two major hyperscalers and expects its first related order during the third quarter of fiscal 2026.
The company additionally reported progress on its Smartstack product deployment and reaffirmed access to domestic-content offerings in the United States, positioning itself to benefit from growing demand for locally sourced clean-energy infrastructure.
Despite ongoing losses, Fluence maintained strong liquidity of approximately $900 million, including total cash holdings of about $412.9 million. However, operating cash flow remained negative, with the company reporting cash used in operations of roughly $347.9 million during the first half of fiscal 2026, largely driven by inventory buildup and working capital requirements.
Fluence reaffirmed its full-year fiscal 2026 guidance, projecting revenue between $3.2 billion and $3.6 billion, with adjusted EBITDA expected between $40 million and $60 million. The company also expects annual recurring revenue to reach approximately $180 million by the end of the fiscal year.
Operational metrics showed continued expansion across the business. Energy storage deployment reached 7.4 GW, while the company’s storage pipeline expanded 16% to 41.3 GW. Digital contracted backlog increased 19%, underscoring growing demand for Fluence’s software and optimization platforms.
The company cautioned that macroeconomic uncertainty, supply chain risks, evolving trade policies, and customer project delays remain potential headwinds for future performance.
