Fluence Energy, Inc. (NASDAQ: FLNC), a global leader in energy storage solutions, witnessed a pre-market plunge of 34.66% in its stock price on Tuesday, following the release of its disappointing first-quarter fiscal 2025 results and a significant downward revision to its full-year guidance.

The company reported first-quarter revenue of $186.8 million, a staggering 49% decline compared to the same period last year and well below analysts' expectations of $380.3 million. Fluence Energy also posted a net loss of $57 million, or $0.32 per share, missing the consensus estimate of a $0.17 loss per share.

More concerning for investors, the company lowered its fiscal year 2025 revenue guidance range to $3.1 billion to $3.7 billion, down from its previous guidance of $3.6 billion to $4.4 billion. Fluence Energy cited delays in signing certain contracts, primarily in Australia, as the primary reason for the reduced outlook. The company also lowered its fiscal 2025 Adjusted EBITDA guidance range to $70 million to $100 million, down from $160 million to $200 million previously, driven by the expected lower revenue and gross margins.

Fluence Energy's management attributed the disappointing results and guidance revision to "customer-driven delays in signing certain contracts that, coupled with competitive pressures, result in the need to lower our fiscal year 2025 outlook." However, the company's Chief Executive Officer, Julian Nebreda, expressed confidence in the robust utility-scale battery storage market globally and strong interest in the company's U.S. domestic content product offering, as evidenced by its record $5.1 billion backlog.

Despite the challenges, Fluence Energy bolstered its financial position by issuing $400 million in convertible senior notes, increasing its total cash to approximately $654.4 million. The company plans to leverage this capital to accelerate its domestic content strategy, which it views as a competitive advantage.