Fluence Corporation Limited ( (AU:FLC) ) has provided an announcement.
Fluence Corporation Limited reported a 26.5% decline in revenue for FY 2024, attributed to delays in the Ivory Coast project and market weakness in China. Despite these setbacks, the company saw growth in its SPS and Recurring Revenue segments, with a notable increase in gross margins to 29.4%. The company also reduced its SG&A and R&D expenses by $2.6 million, reflecting restructuring efforts. The financial results showed a consolidated loss of $21.4 million, with cash reserves of $8.9 million and a net debt of $11.1 million.
More about Fluence Corporation Limited
Fluence Corporation Limited operates in the water treatment industry, focusing on providing sustainable water solutions. The company offers a range of products and services, including Smart Products Solutions (SPS) and Recurring Revenue services, with a strategic emphasis on high-margin offerings.
YTD Price Performance: 53.33%
Average Trading Volume: 11,394
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $42.27M
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