By Katherine Hamilton
Fluence Energy recorded a wider loss in its first quarter and revenue fell by half as the company faced contract delays.
The renewable energy storage and software provider posted a loss of $57.0 million, or 32 cents a share, in the three months ended Dec. 31, compared with $25.6 million, or 14 cents a share, a year earlier.
Revenue fell 49% to $186.8 million. Analysts surveyed by FactSet forecast revenue of $362.5 million. Shares fell 38% to $8 in after-hours trading Monday.
The Arlington, Va.-based company lowered its 2025 revenue guidance to $3.1 billion to $3.7 billion, from $3.6 billion to $4.4 billion.
The reduction is primarily because the timing of certain contracts in Australia are now expected to be signed later this year, Fluence said. The company said it is also expecting lower revenue and gross margins on recently signed contracts.
"We have experienced customer-driven delays in signing certain contracts that, coupled with competitive pressures, result in the need to lower our fiscal year 2025 outlook," Chief Executive Julian Nebreda said.
Write Katherine to at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 10, 2025 17:32 ET (22:32 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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