Companies · FLNC
Fluence Energy
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Latest analysis
Updated Nov 2, 2026
Fluence Energy executes simultaneous CEO, CFO, and Chief Customer Success Officer departures on October 30, 2026, installing interim leadership from parent shareholders Siemens and AES.
Fluence Energy replaced its CEO (Julian Nebreda), CFO (Ahmed Pasha), and Chief Customer Success Officer (John Zahurancik) simultaneously on October 30, 2026 — a triple leadership departure that signals a Board-driven intervention in an ongoing operational and financial transformation. The Board installed Axel Meier (former Siemens Smart Infrastructure CFO) as Interim CEO and Ricardo Roizen (AES Andes CFO, seconded from AES) as Interim CFO, and established a new Manufacturing and Operations Oversight Committee, signaling that operational execution failures — not strategy — are the immediate priority. The Company enters this transition with a reported backlog of $6.4 billion but has deferred FY2027 guidance to a later date, a direct signal that financial visibility has deteriorated.
Tone: defensiveRevenue
$2.3B
FLNC 10-K · FY 2025
Employees
1,670
Revenue FY2024
$2.7B
Founded
2017
Profile
FLNC 10-K Item 1 · Nov 25, 2025Fluence Energy is a global provider of utility-scale battery energy storage solutions, recurring operational and maintenance services, and cloud-based digital optimization software for renewable and storage assets. The company was formed as a joint venture between Siemens and AES in 2017 and completed its IPO in November 2021. It operates across 25 countries and serves utilities, independent power producers, developers, and commercial and industrial customers.
Read filing description ↓ Collapse description ↑
Fluence is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. Our energy storage solutions and operational services are designed to help create a more resilient grid and unlock the full potential of renewable portfolios. As of September 30, 2025, we had 6.8 gigawatts of energy storage assets deployed and 9.1 GW of contracted backlog across 33 markets in 25 countries with a gross global pipeline of 128.8 GW. Our offerings include energy storage products and solutions, recurring O&M services, and digital applications for energy storage and other power assets. We sell configurable energy storage solutions with integrated hardware, software, and digital intelligence. Our storage technology lays the foundation for better energy storage solutions with industry-leading safety, integrated controls systems, and factory-built, modular building blocks. By pairing the benefits of mass production with the flexibility of a configurable system architecture, we believe we are able to serve the diverse needs of customers around the world from a single, underlying product platform. Our digital applications allow us to offer digital capabilities that can be combined with our energy storage solutions and services to optimize revenue and lower the total cost of ownership. Our Fluence digital offerings encompass proprietary machine learning, AI, data science technologies, and applied engineering to enable the advanced capabilities of our two cloud-based software products: Fluence Mosaic and Fluence Nispera. We have repeatedly pioneered new use cases for grid-scale energy storage, including frequency regulation, generation enhancement, capacity peak power, energy cost control, microgrids/islands, renewable integration, virtual dams, transmission and distribution enhancement, and critical power.
Primary products
- Gridstack Pro
- Gridstack
- Ultrastack
- Smartstack
- Fluence OS
- Fluence-designed Battery Pack
Business segments
End markets
Geographies
Named customers
In fiscal year 2025, our two largest customers represented approximately 41% of our revenues. In addition, as of September 30, 2025, approximately 24% of our revenue was with related parties, primarily AES and its affiliates. As of September 30, 2025, the Company had $5.3 billion of remaining performance obligations related to our contractual commitments, which we refer to as our backlog, of which 13% is with AES.
Named competitors
“We believe we differentiate ourselves from our competitors through our ability to identify and meet customer needs with customized products, services, and use-case solutions.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue declined from approximately $2.70 billion in fiscal year 2024 to approximately $2.26 billion in fiscal year 2025, driven primarily by a significant decrease in revenue from related parties.
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