Fluence Energy (FLNC) Cost of Revenue (2020 - 2026)
Fluence Energy (FLNC) posted Cost of Revenue of $616.61 million for fiscal Q3 2026 (quarter ended Jun 30, 2026), up 20.1% from $513.43 million a year earlier and up 47.4% from the prior quarter.
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Analysis
Fluence Energy (FLNC) Cost of Revenue (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Cost of Revenue at Fluence Energy was $2.39 billion, up 11.6% year-over-year; for FY2025 (ended Sep 30, 2025), it came in at $1.97 billion, down 16.6% from FY2024.
- Annual Cost of Revenue shows a five-year compound annual growth rate of 28.9% (FY2020 to FY2025).
- In prior fiscal years, Fluence Energy's Cost of Revenue was $2.36 billion in FY2024 (+13.5%), $2.08 billion in FY2023 (+64.7%), $1.26 billion in FY2022 (+68.1%) and $749.91 million in FY2021 (+35.5%).
- Quarterly Cost of Revenue has run from a low of $165.59 million in fiscal Q1 2025 to a high of $1.07 billion in fiscal Q4 2024 over five years.
- On a year-over-year basis, Cost of Revenue has increased in each of the last three quarters, with growth averaging 26.6% over the last eight quarters.
- The strongest year-over-year quarter for Cost of Revenue in the past five years was fiscal Q2 2022, with growth of 268.1%; the weakest was fiscal Q1 2025, with a decline of 49.4%.
- According to Business Quant data, Cost of Revenue for the three prior fiscal quarters was $418.26 million (Q2 2026), $452.19 million (Q1 2026) and $898.99 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 263.36 Bn | 224.44 Bn | 2.36 Bn | 8.74 Bn |
| 2 | Bloom Energy | 84.85 Bn | 76.67 Bn | 355.57 Mn | 709.79 Mn |
| 3 | First Solar | 18.77 Bn | 9.72 Bn | 605.00 Mn | 451.19 Mn |
| 4 | Generac Holdings | 12.79 Bn | 11.62 Bn | 521.81 Mn | 651.70 Mn |
| 5 | Nextpower | 12.78 Bn | 8.68 Bn | 335.85 Mn | 599.32 Mn |
| 6 | BWX Technologies | 12.36 Bn | 10.66 Bn | 202.31 Mn | 699.32 Mn |
| 7 | EnerSys | 7.13 Bn | 5.32 Bn | 313.36 Mn | 622.28 Mn |
| 8 | Enphase Energy | 4.42 Bn | -436.70 Mn | 175.01 Mn | 116.84 Mn |
| 9 | Mirion Technologies | 3.57 Bn | 1.46 Bn | 133.10 Mn | 133.70 Mn |
| 10 | Fluence Energy | 1.40 Bn | -407.37 Mn | 33.24 Mn | 616.61 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 616.61 Mn |
| Mar 31, 2026 | 418.26 Mn |
| Dec 31, 2025 | 452.19 Mn |
| Sep 30, 2025 | 898.99 Mn |
| Jun 30, 2025 | 513.43 Mn |
| Mar 31, 2025 | 389.04 Mn |
| Dec 31, 2024 | 165.59 Mn |
| Sep 30, 2024 | 1.07 Bn |
| Jun 30, 2024 | 400.27 Mn |
| Mar 31, 2024 | 558.96 Mn |
| Dec 31, 2023 | 327.57 Mn |
| Sep 30, 2023 | 596.70 Mn |
| Jun 30, 2023 | 514.53 Mn |
| Mar 31, 2023 | 667.37 Mn |
| Dec 31, 2022 | 298.42 Mn |
| Sep 30, 2022 | 431.24 Mn |
| Jun 30, 2022 | 244.21 Mn |
| Mar 31, 2022 | 357.47 Mn |
| Dec 31, 2021 | 228.04 Mn |
| Sep 30, 2021 | 248.21 Mn |
API Access
Fluence Energy Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FLNC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "FLNC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FLNC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();