flnc-20241231

000186894109/302025Q1FalseP12M21.350.0468472P1YP3YP3Y73xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesflnc:segmentxbrli:pureflnc:categoryflnc:reportable_segmentflnc:classflnc:dayiso4217:USDflnc:Unitflnc:agreementflnc:roundflnc:metricflnc:partyflnc:supplier00018689412024-10-012024-12-310001868941us-gaap:CommonClassAMember2025-02-030001868941flnc:CommonClassB1Member2025-02-0300018689412024-12-3100018689412024-09-300001868941us-gaap:NonrelatedPartyMember2024-12-310001868941us-gaap:NonrelatedPartyMember2024-09-300001868941us-gaap:RelatedPartyMember2024-12-310001868941us-gaap:RelatedPartyMember2024-09-300001868941us-gaap:CommonClassAMember2024-12-310001868941us-gaap:CommonClassAMember2024-09-300001868941flnc:CommonClassB1Member2024-12-310001868941flnc:CommonClassB1Member2024-09-300001868941flnc:CommonClassB2Member2024-12-310001868941flnc:CommonClassB2Member2024-09-300001868941us-gaap:NonrelatedPartyMember2024-10-012024-12-310001868941us-gaap:NonrelatedPartyMember2023-10-012023-12-310001868941us-gaap:RelatedPartyMember2024-10-012024-12-310001868941us-gaap:RelatedPartyMember2023-10-012023-12-3100018689412023-10-012023-12-310001868941us-gaap:CommonStockMemberus-gaap:CommonClassAMember2024-09-300001868941us-gaap:CommonStockMemberflnc:CommonClassB1Member2024-09-300001868941us-gaap:AdditionalPaidInCapitalMember2024-09-300001868941us-gaap:RetainedEarningsMember2024-09-300001868941us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300001868941us-gaap:TreasuryStockCommonMember2024-09-300001868941us-gaap:NoncontrollingInterestMember2024-09-300001868941us-gaap:RetainedEarningsMember2024-10-012024-12-310001868941us-gaap:NoncontrollingInterestMember2024-10-012024-12-310001868941us-gaap:CommonStockMemberus-gaap:CommonClassAMember2024-10-012024-12-310001868941us-gaap:AdditionalPaidInCapitalMember2024-10-012024-12-310001868941us-gaap:TreasuryStockCommonMember2024-10-012024-12-310001868941us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-10-012024-12-310001868941us-gaap:CommonStockMemberus-gaap:CommonClassAMember2024-12-310001868941us-gaap:CommonStockMemberflnc:CommonClassB1Member2024-12-310001868941us-gaap:AdditionalPaidInCapitalMember2024-12-310001868941us-gaap:RetainedEarningsMember2024-12-310001868941us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310001868941us-gaap:TreasuryStockCommonMember2024-12-310001868941us-gaap:NoncontrollingInterestMember2024-12-310001868941us-gaap:CommonStockMemberus-gaap:CommonClassAMember2023-09-300001868941us-gaap:CommonStockMemberflnc:CommonClassB1Member2023-09-300001868941us-gaap:AdditionalPaidInCapitalMember2023-09-300001868941us-gaap:RetainedEarningsMember2023-09-300001868941us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300001868941us-gaap:TreasuryStockCommonMember2023-09-300001868941us-gaap:NoncontrollingInterestMember2023-09-3000018689412023-09-300001868941us-gaap:RetainedEarningsMember2023-10-012023-12-310001868941us-gaap:NoncontrollingInterestMember2023-10-012023-12-310001868941us-gaap:CommonStockMemberus-gaap:CommonClassAMember2023-10-012023-12-310001868941us-gaap:AdditionalPaidInCapitalMember2023-10-012023-12-310001868941us-gaap:CommonClassAMember2023-10-012023-12-310001868941flnc:CommonClassB1Member2023-10-012023-12-310001868941us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-10-012023-12-310001868941us-gaap:CommonStockMemberus-gaap:CommonClassAMember2023-12-310001868941us-gaap:CommonStockMemberflnc:CommonClassB1Member2023-12-310001868941us-gaap:AdditionalPaidInCapitalMember2023-12-310001868941us-gaap:RetainedEarningsMember2023-12-310001868941us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001868941us-gaap:TreasuryStockCommonMember2023-12-310001868941us-gaap:NoncontrollingInterestMember2023-12-3100018689412023-12-310001868941flnc:SellingStockholdersMemberus-gaap:CommonClassAMemberflnc:SecondaryOfferingMember2023-12-082023-12-080001868941flnc:SellingStockholdersMemberus-gaap:CommonClassAMemberflnc:SecondaryOfferingMember2023-12-080001868941us-gaap:CommonClassAMemberflnc:SecondaryOfferingMember2023-12-082023-12-0800018689412021-11-010001868941flnc:FluenceEnergyLLCMemberflnc:AESGridStabilityLLCMember2023-12-080001868941flnc:SellingStockholdersMemberflnc:CommonClassB1Memberflnc:SecondaryOfferingMember2023-12-080001868941us-gaap:CommonClassAMemberflnc:RedemptionMember2023-12-082023-12-080001868941flnc:FluenceEnergyLLCMemberflnc:AESGridStabilityLLCMemberflnc:RedemptionMember2023-12-080001868941flnc:FluenceEnergyLLCMember2024-12-310001868941flnc:FluenceEnergyLLCMember2024-09-300001868941flnc:AESGridStabilityLLCMember2024-12-310001868941flnc:AESGridStabilityLLCMember2024-09-300001868941flnc:CreditCardProgramCollateralMember2024-12-310001868941flnc:CreditCardProgramCollateralMember2024-09-300001868941flnc:OutstandingBankGuaranteeCollateralMember2024-12-310001868941flnc:OutstandingBankGuaranteeCollateralMember2024-09-300001868941flnc:SuretyProgramCollateralMember2024-12-310001868941flnc:SuretyProgramCollateralMember2024-09-300001868941flnc:TermDepositMember2024-12-310001868941flnc:TermDepositMember2024-09-300001868941srt:MinimumMember2024-12-310001868941srt:MaximumMember2024-12-3100018689412023-10-012024-09-300001868941us-gaap:SoftwareAndSoftwareDevelopmentCostsMembersrt:MinimumMember2024-12-310001868941us-gaap:SoftwareAndSoftwareDevelopmentCostsMembersrt:MaximumMember2024-12-310001868941us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2024-10-012024-12-310001868941us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2023-10-012023-12-310001868941flnc:DevelopmentCostAndHostingArrangementsMember2024-10-012024-12-310001868941flnc:DevelopmentCostAndHostingArrangementsMember2023-10-012023-12-310001868941flnc:ExternalUseSoftwareDevelopmentCostMember2024-12-310001868941flnc:ExternalUseSoftwareDevelopmentCostMember2024-10-012024-12-310001868941flnc:ExternalUseSoftwareDevelopmentCostMember2023-10-012023-12-310001868941flnc:ConvertibleSeniorNotes2030Memberus-gaap:ConvertibleDebtMember2024-12-310001868941srt:RevisionOfPriorPeriodReclassificationAdjustmentMemberus-gaap:RelatedPartyMemberflnc:AccountsPayableWithRelatedPartiesMember2023-12-310001868941srt:RevisionOfPriorPeriodReclassificationAdjustmentMemberus-gaap:RelatedPartyMemberflnc:AccrualsWithRelatedPartiesMember2023-12-310001868941srt:RevisionOfPriorPeriodReclassificationAdjustmentMember2023-12-310001868941us-gaap:CommonClassAMember2024-12-310001868941flnc:CommonClassB1Member2024-12-310001868941flnc:CommonClassB1Member2024-10-012024-12-310001868941flnc:CommonClassB1Member2023-10-012023-12-310001868941flnc:SharesUnderlyingTheConversionOptionInThe2030ConvertibleSeniorNotesMember2024-10-012024-12-310001868941flnc:SharesUnderlyingTheConversionOptionInThe2030ConvertibleSeniorNotesMember2023-10-012023-12-310001868941us-gaap:EmployeeStockOptionMember2024-10-012024-12-310001868941us-gaap:EmployeeStockOptionMember2023-10-012023-12-310001868941us-gaap:PhantomShareUnitsPSUsMember2024-10-012024-12-310001868941us-gaap:PhantomShareUnitsPSUsMember2023-10-012023-12-310001868941us-gaap:RestrictedStockUnitsRSUMember2024-10-012024-12-310001868941us-gaap:RestrictedStockUnitsRSUMember2023-10-012023-12-310001868941us-gaap:PerformanceSharesMember2024-10-012024-12-310001868941us-gaap:PerformanceSharesMember2023-10-012023-12-310001868941flnc:NonQualifiedStockOptionsMember2024-10-012024-12-310001868941flnc:NonQualifiedStockOptionsMember2023-10-012023-12-310001868941us-gaap:RestrictedStockUnitsRSUMemberflnc:NisperaMember2024-10-012024-12-310001868941us-gaap:RestrictedStockUnitsRSUMemberflnc:NisperaMember2023-10-012023-12-310001868941us-gaap:ProductMember2024-10-012024-12-310001868941us-gaap:ProductMember2023-10-012023-12-310001868941us-gaap:ServiceMember2024-10-012024-12-310001868941us-gaap:ServiceMember2023-10-012023-12-310001868941flnc:ServicesDigitalApplicationsAndSolutionsMember2024-10-012024-12-310001868941flnc:ServicesDigitalApplicationsAndSolutionsMember2023-10-012023-12-310001868941srt:AmericasMember2024-10-012024-12-310001868941srt:AmericasMember2023-10-012023-12-310001868941srt:AsiaPacificMember2024-10-012024-12-310001868941srt:AsiaPacificMember2023-10-012023-12-310001868941us-gaap:EMEAMember2024-10-012024-12-310001868941us-gaap:EMEAMember2023-10-012023-12-310001868941flnc:TwoCustomersMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:RevenueFromContractWithCustomerMember2024-10-012024-12-310001868941flnc:FourCustomersMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:RevenueFromContractWithCustomerMember2023-10-012023-12-310001868941us-gaap:NonrelatedPartyMember2023-09-300001868941us-gaap:NonrelatedPartyMember2023-12-310001868941us-gaap:RelatedPartyMember2023-09-300001868941us-gaap:RelatedPartyMember2023-12-310001868941

2025-01-01

srt:MaximumMember2024-12-310001868941flnc:CubesBatteriesAndOtherEquipmentMember2024-12-310001868941flnc:CubesBatteriesAndOtherEquipmentMember2024-09-300001868941flnc:ShippingContainersAndSparePartsMember2024-12-310001868941flnc:ShippingContainersAndSparePartsMember2024-09-300001868941flnc:PatentsAndLicensingAgreementsMember2024-12-310001868941flnc:PatentsAndLicensingAgreementsMember2024-09-300001868941us-gaap:DevelopedTechnologyRightsMember2024-12-310001868941us-gaap:DevelopedTechnologyRightsMember2024-09-300001868941us-gaap:CustomerRelationshipsMember2024-12-310001868941us-gaap:CustomerRelationshipsMember2024-09-300001868941us-gaap:TrademarksAndTradeNamesMember2024-12-310001868941us-gaap:TrademarksAndTradeNamesMember2024-09-300001868941us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2024-12-310001868941us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2024-09-300001868941flnc:CapitalizedSoftwareToBeSoldMember2024-12-310001868941flnc:CapitalizedSoftwareToBeSoldMember2024-09-300001868941flnc:TheRevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2021-11-010001868941flnc:TheRevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberflnc:LondonInterbankOfferedRateLIBOROrEuroInterbankOfferedRateEURIBORMember2021-11-012021-11-010001868941flnc:TheRevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:BaseRateMember2021-11-012021-11-010001868941flnc:TheRevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberflnc:DailySimpleRFRMember2021-11-012021-11-010001868941flnc:TheRevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2021-11-012021-11-010001868941flnc:TheRevolverMemberus-gaap:LetterOfCreditMemberus-gaap:LineOfCreditMember2021-11-012021-11-010001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2024-04-080001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembersrt:MinimumMember2023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:BaseRateMembersrt:MinimumMember2023-10-012023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:BaseRateMembersrt:MaximumMember2023-10-012023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:PrimeRateMembersrt:MinimumMember2023-10-012023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:PrimeRateMembersrt:MaximumMember2023-10-012023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberflnc:AdjustTermSOFRRateAdjustedEURIBORRateOrAdjustedTermCORRARateMembersrt:MinimumMember2023-10-012023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberflnc:AdjustTermSOFRRateAdjustedEURIBORRateOrAdjustedTermCORRARateMembersrt:MaximumMember2023-10-012023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembersrt:MaximumMember2023-10-012023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2023-10-012023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembersrt:MinimumMember2023-10-012023-12-310001868941flnc:AssetBasedLendingFacilityMemberus-gaap:LetterOfCreditMemberus-gaap:LineOfCreditMember2023-12-310001868941flnc:A2024RevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2024-08-060001868941flnc:A2024RevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:BaseRateMember2024-08-062024-08-060001868941flnc:A2024RevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberflnc:AdjustTermSOFRRateAdjustedEURIBORRateOrAdjustedTermCORRARateMember2024-08-062024-08-060001868941flnc:A2024RevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberflnc:DailySimpleRFRMember2024-08-062024-08-060001868941flnc:A2024RevolverMemberus-gaap:LetterOfCreditMemberus-gaap:LineOfCreditMember2024-08-062024-08-060001868941flnc:A2024RevolverMemberus-gaap:LineOfCreditMember2024-08-060001868941flnc:A2024RevolverMemberus-gaap:LetterOfCreditMemberus-gaap:LineOfCreditMember2024-08-060001868941flnc:A2024RevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembersrt:MaximumMember2024-08-060001868941flnc:A2024RevolverMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembersrt:MinimumMember2024-08-060001868941

SEC Form 10-Q filed by Fluence Energy Inc.