Utility-scale energy storage firm Fluence Energy posted revenue of $649.8 million in the third quarter (Q3) of the fiscal year (FY) 2026, up 7.9% year-over-year (YoY) from $602.5 million.

The revenue missed analysts’ estimates by $161.27 million.

The increase in revenue was primarily driven by higher volumes of energy storage solution fulfilments.

The company said revenue was weaker than expected, primarily due to production delays at new contract manufacturing facilities.

Fluence posted a net loss of $44.3 million for the quarter, compared with a profit of $6.9 million in the same period the year before.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at a loss of $29.3 million, compared to $27.4 million last year.

Earnings per share stood at a loss of $0.24, compared to a profit of $0.01 during Q3 FY 2025.

The company’s order intake totaled more than $1.44 billion for the fiscal quarter ended June 30, 2026, nearly triple the $508.8 million for the same quarter last year.

Julian Nebreda, President and Chief Executive Officer at Fluence Energy, said, “We have been increasing our production capacity globally to meet this growing demand, and although production has been behind our expectation for this year, we have taken steps to achieve targeted production levels early in fiscal 2027.”

“With both record order intake and backlog and increasing momentum with all of our customer segments, including data centers, we remain confident in the long-term opportunity ahead and our positioning to capitalize on it,” he said.

9M FY 2026

Fluence’s revenue for the first nine months of the fiscal year came in at $1.59 billion, up 30.2% YoY from $1.22 billion.

It reported a net loss of $136.1 million, compared with $92.1 million in the same period a year ago.

Adjusted EBITDA stood at a loss of $90.8 million, as compared to a loss of $52.7 million during 9M FY 2025.

Earnings per share stood at a loss of $0.74, compared to a loss of $0.51 last year.

Operational Highlights

Fluence’s data center pipeline has increased 35% to 16 GWh from the second quarter. The pipeline now includes a mix of projects from both hyperscalers and data center developers. During the quarter, it signed a $300 million order for a behind-the-meter project with a developer.

The company said that in the U.S., it will be the offtaker of a new, fully automated facility in Houston with an expected capacity of 15 GWh per year. Completion of this new facility has been delayed by a few months due to construction delays and issues with the automation equipment. Limited production commenced this quarter, and its manufacturer is taking steps to address outstanding issues. The company expects the facility to reach full production levels in the first quarter of FY 2027.

The company said it signed $1.44 billion in orders during the quarter, nearly triple the $509 million it signed in the same period last year. Included in its record order intake was the first deal with a data center developer worth $300 million.

In July, Fluence was awarded an additional $550 million in business by a hyperscaler across multiple data center sites. The company ended the quarter with a record backlog of $6.4 billion, representing 14% growth over the second quarter and more than 30% growth since the third quarter of last year.

Fiscal Year 2026 Outlook

“As of June 30, approximately $2.2 billion of our $6.4 billion backlog is expected to convert to revenues in fiscal 2027. This compares to the $1.5 billion of fiscal year 2026 revenue coverage we had as of June 30th, 2025,” Nebreda said.

The company exited the quarter at $33.1 billion, an increase of $1.6 billion from last quarter, indicating $3 billion in new opportunities after accounting for pipeline conversion into orders.

The company now expects $400 million in project deliveries to be delayed into fiscal 2027 due to production issues at a new international contract manufacturing facility and construction-related delays affecting the completion and start-up of a new U.S. contract manufacturing facility.

It forecasts revenue of $2.9 billion to $3.1 billion, with a midpoint of $3 billion, compared to the prior guidance range of approximately $3.2 billion to $3.6 billion, with a midpoint of $3.4 billion.

Fluence Energy expects adjusted EBITDA to range from a loss of $30 million to a profit of $10 million, with a midpoint of approximately $10 million.

It has also revised the annual recurring revenue to approximately $180 million by the end of the fiscal year 2026.

Fluence reported revenue of $464.9 million for Q2 of FY 2026, a 7.7% YoY increase from $431.6 million.