Fluence Corporation Limited (AU:FLC) has released an update.
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Fluence Corporation Limited reported a revenue drop of 34% in H1 2024, attributed to project delays, particularly in the Ivory Coast, despite a 14% growth in SPS and Recurring Revenue and improved gross margins. The company revised its full-year guidance to $70-75M in revenue and an EBITDA of $0M, while also achieving operational savings and fully repaying its loan with Upwell Water LLC. Fluence expects a positive operating cash flow in H2 2024 and has secured a new revolving credit facility to enhance financial flexibility.
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