In what CEO Julian Nebreda characterised as a quarter of “significant progress” for Fluence, order intake for the first half of this year stands at US$2 billion, twice that of Q2 2025. Adjusted gross margin was 11.1%, aligning with the company’s expected 11%-13% range and bouncing back from 5.6% in Q1, when additional costs attributable to two non-US projects impacted profitability.
The company’s order backlog stands at US$5.6 billion, up a little from US$5.6 billion in the previous quarter. While it did see some slowdown in Q2 as “higher lithium prices temporarily slowed down some customer decisions,” US$600 million in new orders have already been signed in the third quarter. Nebreda said in an earnings call that 50% of those Q3 2026 orders have been signed with new customers.
Ending the quarter with around US$900 million of total liquidity, Fluence reaffirmed its previously issued fiscal year 2026 guidance on revenue, annual recurring revenues (ARR) and adjusted EBITDA.
These are for between US$3.2 billion and US$3.4 billion in revenue, an adjusted EBITDA of between US$40 million and US$60 million, and approximately US$180 million in ARR by the end of FY2026.
While cost of goods and services also rose slightly, Fluence’s quarterly gross profit improved by 9.5% from US$42.6 million in Q2 2025 to US$46.6 million. Net loss narrowed year-over-year to US$29.2 million from US$41.9 million.
