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Fluence Corporation Limited
(Sydney:FLC)
Fluence Corporation Limited (FLC) vs. iShares MSCI Australia ETF (EWA)
Fluence Corporation Limited Business Overview & Revenue Model
Fluence Corporation Limited Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 121.61M | 51.49M | 70.04M | 119.09M | 103.19M |
| Gross Profit | 35.87M | 15.16M | 19.08M | 28.02M | 21.38M |
| EBITDA | 27.30M | -17.05M | -8.87M | -10.37M | -4.07M |
| Net Income | -14.45M | -21.40M | -16.01M | -16.19M | -14.70M |
Balance Sheet | |||||
| Total Assets | 99.09M | 74.11M | 93.13M | 123.62M | 149.14M |
| Cash, Cash Equivalents and Short-Term Investments | 24.95M | 8.97M | 28.28M | 35.06M | 52.35M |
| Total Debt | 29.93M | 21.45M | 19.31M | 35.30M | 41.36M |
| Total Liabilities | 116.07M | 81.60M | 80.91M | 120.70M | 133.15M |
| Stockholders Equity | -13.87M | -5.27M | 14.18M | 4.91M | 17.89M |
Cash Flow | |||||
| Free Cash Flow | 14.97M | -35.24M | -20.80M | -14.10M | -6.26M |
| Operating Cash Flow | 16.87M | -32.50M | -19.02M | -13.65M | -4.84M |
| Investing Cash Flow | -1.52M | 6.20M | 4.42M | 15.39M | 7.35M |
| Financing Cash Flow | -4.36M | 1.97M | 10.07M | 2.54M | 8.89M |
Fluence Corporation Limited Technical Analysis
Fluence Corporation Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | AU$61.98M | 11.08 | 20.77% | 4.55% | 66.80% | 625.00% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | AU$175.79M | 16.84 | 7.04% | 2.95% | 4.52% | -31.16% | |
49 Neutral | AU$11.25M | -7.06 | -14.80% | ― | -33.93% | -366.67% | |
49 Neutral | AU$32.66M | -14.71 | -16.00% | ― | 11.53% | 46.15% | |
44 Neutral | AU$93.72M | -6.21 | ― | ― | 11.44% | 19.49% | |
42 Neutral | AU$8.74M | -2.69 | -26.47% | ― | -45.80% | -210.00% |
Fluence Corporation Limited Corporate Events
Fluence Corporation reported a 52.3% jump in 2025 revenue to $78.4 million, driven by strong growth in Smart Product Solutions and recurring revenue offerings, as well as a substantial contribution from the Ivory Coast Addendum project. The company’s loss narrowed by 56.5% to $9.3 million, supported by flat operating costs, steady gross margins at 29.5%, and a swing to positive EBITDA of $4.0 million.
Core business units, notably MWW North America and IWB, delivered sharp increases in orders and margin outperformance, lifting new orders 28.5% to $64.2 million and expanding backlog to $74.8 million. While Fluence still recorded a net loss and carries $18.0 million in borrowings against $16.6 million in cash, the order momentum and margin resilience underscore a strengthening operating profile and support its strategy to grow higher-margin, recurring revenue streams.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation has issued 1,113,564 fully paid ordinary shares to its non-executive directors in lieu of accrued director fees for the October to December 2025 period, a move previously approved by shareholders at the company’s May 2025 annual general meeting. The company confirmed the shares were issued without a prospectus under the relevant Corporations Act provisions and stated it is compliant with financial reporting and continuous disclosure obligations, signalling that the share-based compensation does not arise from any undisclosed material information and minimally dilutes existing shareholders while aligning director remuneration with equity performance.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation Limited has applied to the Australian Securities Exchange for quotation of 1,113,564 new fully paid ordinary shares issued on 2 February 2026 under an employee incentive scheme. The move modestly increases the company’s quoted capital base and reflects the ongoing use of equity-based remuneration to align staff interests with shareholders, though the release provides no additional detail on operational strategy or financial impact for investors.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
The company reported the lapse of 214,050 options across three series on 29 January 2026 after performance conditions proved unattainable, trimming the pool of potential dilutionary securities. The cessations suggest more disciplined equity management but may limit future incentive-linked capital inflows unless new performance rights are granted, signaling a tighter focus on achievable milestones for stakeholders.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation has released an investor presentation outlining its unaudited Q4 and full-year 2025 results, emphasizing that all financial data for 2025 are preliminary and that prior years’ figures are audited under IFRS. The company underscores extensive disclaimers around forward-looking statements, stressing that projections and guidance are subject to significant risks and uncertainties and should not be considered guarantees of future performance or as financial advice, offers, or inducements to buy securities, thereby signaling a cautious stance for investors and other stakeholders relying on the information.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation reported strong revenue and earnings growth for the fourth quarter and full year 2025, with annual revenue rising 52.3% to US$78.4 million and EBITDA improving by US$8.0 million to US$4.0 million, driven by healthy double-digit expansion in its higher-margin Smart Product Solutions and Recurring Revenue segments and a significant revenue contribution from the lower-margin Ivory Coast Addendum project. Despite the mix shift toward this large project, the company maintained gross margins at 29.9%, kept SG&A and R&D flat year-on-year, delivered record quarterly new orders in SPS and RR, expanded its total backlog to US$74.8 million, and ended the year with US$16.6 million in cash, positioning it for continued double-digit revenue growth and margin expansion even as Ivory Coast-related revenues decline, although it has opted not to provide specific financial guidance for 2026.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation Limited reported positive operating cash flow for the quarter ended 31 December 2025, generating US$3.8 million from operations and US$10.9 million for the 12‑month period, supported by US$22.3 million in customer receipts for the quarter and US$89.4 million year to date. After modest investing outflows of US$0.5 million in the quarter and net financing outflows of US$0.6 million, the company’s cash and cash equivalents increased by US$3.4 million in the quarter to US$14.1 million, underscoring an improving cash position that may strengthen its operational flexibility and ability to fund ongoing growth initiatives without relying heavily on external financing.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation Limited has scheduled the release of its Quarterly Business Update and cash flow report for the quarter ended 31 December 2025 on 30 January 2026, and will hold an investor webcast on the same day to present and discuss the results. The session, led by CEO and managing director Ben Fash and CFO Ozzie Llanes, will be accessible via advance online registration, with an archived recording later available on the company’s website, underscoring Fluence’s ongoing effort to maintain transparency and engagement with investors as it executes its growth strategy in global water and wastewater markets.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation Limited has notified the market of the issuance of 32 million unquoted options, exercisable at A$0.054 and expiring on 30 December 2032. The options, which stem from a previously announced transaction and are not intended to be quoted on the ASX, expand the company’s pool of equity-linked securities and may have future implications for capital structure and potential dilution for existing shareholders if exercised.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation Limited has appointed Benjamin Fash as a director effective 30 December 2025, disclosing that he holds 1,250,000 fully paid ordinary shares and several tranches of unlisted options with varying exercise prices and maturities. Under his executive employment agreement, Fash has been granted 32 million time-vesting unlisted options at an exercise price of AU$0.054, all issued on 5 January 2026 and expiring in December 2032, a structure that aligns his long‑term incentives with shareholder outcomes and underscores the company’s use of equity-based remuneration to secure and retain senior leadership.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation Limited has advised the ASX that director Thomas Pokorsky ceased to be a director of the company effective 30 December 2025, in accordance with listing rule disclosure requirements. The company disclosed Pokorsky’s final interests in Fluence securities, including fully paid ordinary shares and a substantial portfolio of unlisted options with varying exercise prices and expiries, providing transparency for investors around his holdings at the time of his departure from the board.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation Limited has issued a total of 19 million unquoted options under an employee incentive scheme, comprising 2 million options exercisable at $0.115 and 17 million options exercisable at $0.082, all expiring on 17 December 2032. The awards, which are not intended to be quoted on the ASX, are designed to align employee interests with long-term shareholder value and may lead to future dilution if exercised, reinforcing Fluence’s use of equity-based remuneration as part of its talent retention and incentive strategy.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.
Fluence Corporation Limited has notified the market of the issuance of 11.5 million unquoted options under an employee incentive scheme, comprising 10 million options exercisable at $0.115 and 1.5 million options exercisable at $0.082, both expiring on 17 December 2032. The move increases the company’s pool of equity-based incentives for staff and executives, potentially aligning employee interests with long-term shareholder value and modestly diluting existing equity holders if the options are exercised.
The most recent analyst rating on (AU:FLC) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Fluence Corporation Limited stock, see the AU:FLC Stock Forecast page.