Fluence Energy Inc (NASDAQ:FLNC), a global market leader delivering intelligent energy storage, operational services, and asset optimization software, stock plunges 18.26% (As on November 26, 11:28:54 AM UTC-4, Source: Google Finance) after the company posted mixed results for the fourth quarter of FY 24. Adjusted EBITDA was of approximately $78.1 million and $86.9 million for fiscal year 2024 and the fourth quarter, respectively, improved from approximately negative $61.4 million and $19.8 million for fiscal year 2023 and the same quarter last year, respectively. Quarterly order intake of approximately $1.2 billion, compared to approximately $737 million for the same quarter last year. Backlog increased to approximately $4.5 billion as of September 30, 2024, compared to approximately $2.9 billion as of September 30, 2023. Net income of approximately $30.4 million and $67.7 million for fiscal year 2024 and the fourth quarter, respectively, improved from a net loss of approximately $104.8 million and net income of approximately $4.8 million, for fiscal year 2023 and the same quarter last year, respectively. Total cash of approximately $518.7 million as of September 30, 2024, representing an increase of approximately $56.0 million from September 30, 2023. Net cash provided by operating activities was approximately $79.7 million, compared to approximately negative $111.9 million for fiscal year 2023. Free cash flow was approximately $71.6 million, compared to approximately negative $114.9 million for fiscal year 2023.

FLNC in the fourth quarter of FY 24 has reported the adjusted earnings per share of 34 cents, beating the analysts’ estimates for the adjusted earnings per share of 27 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 82 percent to $1.23 billion in the fourth quarter of FY 24, missing the analysts’ estimates for revenue by 4.91%. GAAP gross profit margin improved to approximately 12.6% and 12.8% for fiscal year 2024 and the fourth quarter, respectively, compared to approximately 6.4% and 11.3% for fiscal year 2023 and the same quarter last year, respectively.

For fiscal 2025, the company expects revenue to be in the range of approximately $3.6 billion to $4.4 billion with a midpoint of $4.0 billion, Adjusted EBITDA to be in the range of approximately $160 million to $200 million with a midpoint of $180 million and Annual recurring revenue (“ARR”) to be of about $145 million by the end of fiscal year 2025.