0001868941-22-000009 | 10-Q | XBRL Viewer

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Supply Chain Financing	3 Months Ended
Supply Chain Financing	Dec. 31, 2021
Payables and Accruals [Abstract]
Supply Chain Financing	Supply Chain FinancingWe have provided certain of our suppliers with access to a supply chain financing program through a third-party financing institution (the “SCF Bank”). This program allows us to seek extended payment terms with our suppliers, and allows our suppliers to monetize their receivables prior to the payment due date, subject to a discount. Once a supplier elects to participate in the program and reaches an agreement with the SCF Bank, the supplier elects which individual invoices to sell to the SCF Bank. We then pay the SCF Bank on the invoice due date. We have no economic interest in a supplier’s decision to sell a receivable to the SCF Bank. The agreements between our suppliers and the SCF Bank are solely at their discretion and are negotiated directly between them. Our suppliers’ ability to continue using such agreements is primarily dependent upon the strength of our financial condition and guarantees issued by AES and Siemens. As of December 31, 2021, AES and Siemens issued guarantees of $50.0 million each, for a total of $100.0 million, to the SCF Bank on our behalf.As of December 31, 2021 and September 30, 2021, we had $34.6 million and $58.4 million of payables outstanding subject to the program. All outstanding payments owed under the program are recorded within “Accounts payable” on the condensed consolidated balance sheets.

Short-term Borrowing	3 Months Ended
Short-term Borrowing	Dec. 31, 2021
Debt Disclosure [Abstract]
Short-term Borrowing	Short-term Borrowing Revolving Credit Facility On November 1, 2021, we entered into a revolving credit facility (the “Revolver”), by and among Fluence Energy, LLC, as the borrower, Fluence Energy, Inc., as a parent guarantor, the subsidiary guarantors party thereto, the lenders party thereto and JP Morgan Chase Bank, N.A., as administrative agent and collateral agent. The Revolver is secured by a (i) first priority pledge of the equity securities of Fluence Energy, LLC and its subsidiaries and (ii) first priority security interests in, and mortgages on, substantially all tangible and intangible personal property and material fee-owned real property of Fluence Energy, LLC, the parent guarantor and each subsidiary guarantor party thereto, in each case, subject to customary exceptions and limitations. The initial aggregate amount of commitments is $190.0 million from the lenders party including JP Morgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., Bank of America, N.A., Barclays Bank PLC, and five other banks. The maturity date of the Revolver is November 1, 2025. The interest rate is either (i) the Adjusted LIBOR or Adjusted EURIBO Rate (each as defined in the Revolver) plus 3.0% or (ii) the Alternate Base Rate (as defined in the Revolver) plus 2.0% (subject to customary LIBOR replacement provisions and alternative benchmark rates including customary spread adjustments with respect to borrowings in foreign currency), at the option of Fluence Energy, LLC. Fluence Energy, LLC is required to pay to the lenders a commitment fee of 0.55% per annum on the average daily unused portion of the revolving commitments through maturity, which will be the four-year anniversary of the closing date of the Revolver. The Revolver also provides for up to $190.0 million in letter of credit issuances, which will require customary issuance and administration fees, as well as a fronting fee payable to each issuer thereof and a letter of credit participation fee of 2.75% per annum payable to the lenders. The Revolver contains covenants that restrict our ability to incur additional indebtedness; incur liens; sell, transfer, or dispose of property and assets; make investments or acquisitions; make dividends, distributions or other restricted payments; and engage in affiliate transactions. The Revolver limits our ability to make certain payments, including dividends and distributions on Fluence Energy, LLC’s equity, Fluence Energy, Inc.’s equity and other restricted payments. In addition, we are required to maintain (i) minimum liquidity and gross revenue requirements, in each case, until consolidated EBITDA reaches $150.0 million for the most recent four fiscal quarters and we make an election, and (ii) thereafter, a maximum total leverage ratio and a minimum interest coverage ratio. Such covenants will be tested on a quarterly basis. As of December 31, 2021, we had no borrowings under the Revolver. Line of Credit Prior to the IPO, the Company had an Uncommitted Line of Credit Agreement (“Line of Credit’) with Citibank, N.A. (“Citibank”) which allowed us to borrow an amount in aggregate not to exceed $50.0 million, with the expiration date on March 31, 2023. Outstanding borrowings from the Line of Credit were $50.0 million as of September 30, 2021. The weighted average annual interest rate of the borrowing was 2.83%. On November 1, 2021, the $50.0 million outstanding borrowings from the Line of Credit was paid off using the proceeds from our IPO, and the Line of Credit was canceled shortly thereafter. Refer to Note 13 — Related-Party Transactions for borrowings from related parties.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Stock-Based Compensation (Tables)

3 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation Expense

The following table presents stock based compensation expense by financial statement line item:


In thousands	Three Months Ended December 31,
	2021		2020
Cost of goods and services	$	3,528	$	—
Research and development	1,813		—
Sales and marketing	6,441		—
General and administrative	13,095		—
Total	$	24,877	$	—

Outstanding Options Granted

The following table presents information concerning the outstanding options granted by the Company:


	Number of Awards	Weighted-Average Exercise Price
Outstanding at inception of the Unit Option Plan	—	$	—
Granted	12,389,470	2.45
Forfeited	(466,908)	2.45
Outstanding as of September 30, 2021	11,922,562	$	2.45
Granted	—	—
Modified and settled in cash	(112,439)	2.45
Forfeited	(515,442)	2.45
Outstanding as of December 31, 2021	11,294,681	$	2.45

Equity and Liability Classified Phantom Unit Awards Activity

The following table presents activity related to the equity-classified phantom unit awards:


	Number of Awards	Weighted Average Grant Date Fair Value
Outstanding at inception of the 2020 Incentive Plan	—	$	—
Granted	2,688,781	2.12
Forfeited	(399,887)	2.20
Outstanding as of September 30, 2021	2,288,894	$	2.11
Granted	—	—
Cancellation of modified awards	(595,728)	2.20
Re-grant of modified awards	595,728	28.00
Modified and settled in cash	(102,082)	2.20
Forfeited	(16,271)	2.20
Outstanding as of December 31, 2021	2,170,541	$	9.18

The following table presents activity related to liability-classified phantom unit awards:


	Number of Awards	Weighted Average Grant Date Fair Value
Outstanding at inception of the 2020 Incentive Plan	—	$	—
Granted	465,275	2.41
Forfeited	(11,095)	2.45
Outstanding as of September 30, 2021	454,180	$	2.41
Granted	—	—
Forfeited	(48,821)	2.39
Outstanding as of December 31, 2021	405,359	$	2.42

RSU's Activity

The following table presents activity related to RSUs:


	Number of Awards	Weighted Average Grant Date Fair Value
Outstanding as of September 30, 2021	—	$	—
Granted	678,804	36.11
Forfeited	(8,317)	35.86
Outstanding as of December 31, 2021	670,487	$	36.11

Summary of Total Unrecognized Compensation Cost Related to Stock Compensation Expense

The following table summarizes total unrecognized compensation expense related to stock based compensation as of December 31, 2021:


	Unrecognized Stock Compensation Expense (in thousands)		Weighted Average Remaining Period of Expense Recognition (in years)
Options	$	4,292	1.6
Phantom units	15,857		1.7
Liability-classified awards	4,144		0.3
RSUs	22,172		1.9
Total	$	46,465

Related-Party Transactions (Tables)

3 Months Ended

Dec. 31, 2021

Schedule of Related Party Transactions

The following table presents the components of receivables from related parties and payable to related parties on the Company’s condensed consolidated balance sheets:


In thousands	December 31, 2021		September 30, 2021
Accounts receivable	$	42,510	$	26,292
Unbilled receivables	5,878		7,070
Total receivables from related parties	$	48,388	$	33,362
Accounts payable	$	1,464	$	4,510
Deferred revenue	200,085		220,122
Accrued liabilities	4,472		3,293
Total payables and deferred revenue with related parties	$	206,021	$	227,925

The following table presents the related party transactions that are included the Company’s condensed consolidated statements of operations and comprehensive loss for the periods indicated:


In thousands	Three Months Ended December 31,
	2021		2020
Revenue	$	147,833	$	18,405
Cost of goods and services	(7,495)		(427)
Research and development expenses	(45)		(92)
Sales and marketing expenses	(607)		(336)
General and administrative expenses	(1,191)		(182)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Total revenue	$ 174,887	$ 116,233
Cost of goods and services	228,036	111,434
Gross (loss) profit	(53,149)	4,799
Operating expenses:
Research and development	10,758	4,144
Sales and marketing	13,059	4,741
General and administrative	31,201	6,722
Depreciation and amortization	1,427	1,070
Interest expense	682	89
Other income (expense), net	(826)	156
Loss before income taxes	(111,102)	(11,811)
Income tax expense	358	685
Net loss	(111,460)	(12,496)
Less: Net loss attributable to the non-controlling interest	(82,655)	(12,496)
Net loss attributable to Fluence Energy, Inc.	(28,805)
Loss per share of Class A common stock
Foreign currency translation gain (loss), net of income tax (expense) benefit of $0 in each period	299	(851)
Total other comprehensive income (loss)	299	(851)
Total comprehensive loss	(111,161)	(13,347)
Comprehensive loss attributable to non-controlling interest	(82,570)	(13,347)
Total comprehensive loss attributable to Fluence Energy, Inc.	(28,591)
Consolidated Entities, Excluding Affiliated Entities
Total revenue	27,054	97,828
Affiliated Entity
Total revenue	$ 147,833	$ 18,405

Revenue from Contracts with Customers - Geographical Regions (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 174,887	$ 116,233
Americas (North, Central and South America)
Disaggregation of Revenue [Line Items]
Total revenue	141,833	44,152
APAC (Asia Pacific)
Disaggregation of Revenue [Line Items]
Total revenue	16,809	62,398
EMEA (Europe, Middle-East and Africa)
Disaggregation of Revenue [Line Items]
Total revenue	$ 16,245	$ 9,683

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Revenue from Contracts with Customers (Tables)

3 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue by Geographical Regions

The following table presents the Company’s revenue disaggregated by geographical region. Revenues are attributed to regions based on location of customers.


In thousands	Three Months Ended December 31,
	2021		2020
Americas (North, Central and South America)	$	141,833	$	44,152
APAC (Asia Pacific)	16,809		62,398
EMEA (Europe, Middle-East and Africa)	16,245		9,683
Total	$	174,887	$	116,233

Change in Contract Liability

The following table provides information about deferred revenue from contracts with customers:


In thousands	Three Months Ended December 31,
	2021		2020
Deferred revenue beginning of period	$	71,365	$	123,841
Additions	87,800		73,025
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(13,400)		(42,416)
Deferred revenue end of period	$	145,765	$	154,450


In thousands	Three Months Ended December 31,
	2021		2020
Deferred revenue from related parties beginning of period	$	220,122	$	11,425
Additions	87,543		34,471
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(107,580)		(1,615)
Deferred revenue from related parties end of period	$	200,085	$	44,281

Business Combinations (Tables)

3 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the aggregate fair values and estimated useful lives of the assets acquired and liabilities assumed, as of the date of the acquisition.


In thousands	Fair Value		Estimated Useful Life
Intangible assets - Developed technology	$	12,600	12 years
Intangible assets - Customer relationships	780		6 years
Property and equipment	171		Various
Goodwill	4,449
Cash paid for acquisition	$	18,000

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY, MEMBERS'' DEFICIT, AND MEZZANINE EQUITY (UNAUDITED) - USD ($)	Total	Class A	Members’ capital contributions	Common Stock Class A	Common Stock Class B	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income	Non-Controlling interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, LLC	$ (17,225,000)		$ 99,872,000				$ (117,298,000)	$ 201,000
Beginning balance, LLC (in units) at Sep. 30, 2020			7,920,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(12,496,000)						(12,496,000)
Total other comprehensive income (loss)	(851,000)							(851,000)
Ending Balance, LLC at Dec. 31, 2020	(30,572,000)		$ 99,872,000				(129,794,000)	(650,000)
Ending balance, LLC (in units) at Dec. 31, 2020			7,920,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, LLC	(30,572,000)		$ 99,872,000				(129,794,000)	(650,000)
Beginning Balance, LLC	(173,434,000)		106,152,000			$ 0	(279,301,000)	(285,000)
Beginning balance at Sep. 30, 2021	117,235,000		117,235,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Effect of the Organizational Transactions	(117,235,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(111,460,000)
Total other comprehensive income (loss)	299,000
Effect of the Organizational Transactions	117,235,000		$ (106,152,000)	$ 0	$ 1,000	(24,091,000)	279,301,000	75,000	$ (31,899,000)
Effect of the Organizational Transactions (in shares)		18,493,275		18,493,275	117,173,390
Issuance of Class A Common stock in IPO, net of issuance costs	935,762,000					295,740,000			640,022,000
Issuance of Class A Common stock stock in IPO, net of issuance costs (in shares)				35,650,000
Activity under stock compensation plan	9,698,000					9,698,000			0
Ending balance (in shares) at Dec. 31, 2021		54,143,275		54,143,275	117,173,390
Ending balance at Dec. 31, 2021	$ 778,100,000			$ 0	$ 1,000	$ 281,347,000	$ (28,805,000)	$ 4,000	$ 525,553,000

Other Current Assets

3 Months Ended

Dec. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Current Assets

Other current assets consisted of the following amounts:


In thousands	December 31, 2021		September 30, 2021
Restricted cash	$	39,506	$	1,240
Taxes recoverable	21,636		14,049
Prepaid expenses	6,504		2,480
Advance payments	2,585		3,601
Receivable from insurance (a)	2,500		10,000
Deferred equity issuance costs	—		7,103
Other	2,062		4,684
Total	$	74,793	$	43,157

(a) Receivable from insurance represents insurance recoveries that are probable of collection related to the 2021 cargo loss incident. The Company collected $7.5 million receivable from insurance during the three months ended December 31, 2021. Refer to Note 12 - Commitments and Contingencies for a detail discussion of the 2021 cargo loss incident.

Business Combinations - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	1 Months Ended
	Oct. 31, 2020	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Business Acquisition [Line Items]
Goodwill		$ 9,167	$ 9,176	$ 9,203	$ 4,731
US Based Software and Digital Intelligence Platform
Business Acquisition [Line Items]
Property and equipment	$ 171
Goodwill	4,449
Cash paid for acquisition	18,000
Developed technology \| US Based Software and Digital Intelligence Platform
Business Acquisition [Line Items]
Intangible assets	$ 12,600
Estimated Useful Life	12 years
Customer Relationships \| US Based Software and Digital Intelligence Platform
Business Acquisition [Line Items]
Intangible assets	$ 780
Estimated Useful Life	6 years

Organization and Operations	3 Months Ended
Organization and Operations	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	Organization and Operations Fluence Energy, Inc., a Delaware corporation (“the Company”), was formed on June 21, 2021. We conduct our business operations through Fluence Energy, LLC and its direct and indirect subsidiaries. Fluence Energy, LLC was formed on June 30, 2017 as a joint venture between Siemens Industry, Inc. (“Siemens Industry”), an indirect subsidiary of Siemens AG (“Siemens”), and AES Grid Stability, LLC (“AES Grid Stability”), an indirect subsidiary of the AES Corporation (“AES”), and commenced operations on January 1, 2018. We refer to Siemens Industry and AES Grid Stability as the “Founders” in this Quarterly Report on Form 10-Q (this “Report”) Fluence Energy LLC, with its wholly owned subsidiaries including Fluence Energy GmbH in Germany, Fluence Energy Pty Ltd. in Australia, Fluence Energy Inc. in the Philippines, Fluence Energy Global Production Operation, LLC in Delaware, Fluence Energy Singapore PTE. Ltd. in Singapore, and Fluence BESS India Private Limited, is primarily engaged in the construction and sale of battery-based energy storage products and provides related operational services. Except where the content clearly indicates otherwise, “Fluence,” “we,” “us,” “our” or the “Company” refers to Fluence Energy, Inc. and its wholly owned subsidiaries. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. The Company’s CODM reviews financial information on a condensed consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, the Company has determined that it operates in one operating segment, which corresponds to one reportable segment. QFH’s Investment on Fluence Energy, LLC On December 27, 2020, Fluence Energy, LLC entered into an agreement with QIA Florence Holdings LLC (“QFH” or the “Blocker Company”) for a $125.0 million investment. QFH was issued 18,493,275 Class B units of Fluence Energy, LLC. QFH is an affiliate of the Qatar Investment Authority (“QIA”), the sovereign wealth fund of Qatar, and its subsidiaries and affiliates. At September 30, 2021, the investment was recognized at carrying value within mezzanine equity on the consolidated balance sheets. As discussed below under “Initial Public Offering and Related Transactions,” during the three months ended December 31, 2021, QFH elected to convert their Class B units, which is a conversion available to all of the holders of Fluence Energy, LLC Class A and Class B units. Accordingly, as of December 31, 2021, no mezzanine equity is recorded on the condensed consolidated balance sheets. Initial Public Offering and Related Transactions On November 1, 2021, the Company completed an initial public offering (the “IPO”) in which it issued and sold 35,650,000 shares of its Class A common stock, par value $0.00001 per share, at the public offering price of $28.00 per share, which includes the exercise by the underwriters of their option to purchase an additional 4,650,000 shares of the Company’s Class A common stock. The net proceeds to the Company from the IPO were $935.8 million, after deducting underwriting discounts and offering expenses payable by the Company. We consummated the following transactions (the “Organizational Transactions”) in connection with the IPO (collectively with the IPO, the “Transactions”): •we amended and restated the existing limited liability company agreement of Fluence Energy, LLC, which became effective prior to the consummation of the IPO, to, among other things, (1) recapitalize all existing ownership interests in Fluence Energy, LLC into 135,666,665 LLC Interests and (2) appoint Fluence Energy, Inc. as the sole managing member of Fluence Energy, LLC upon its acquisition of LLC Interests; •we amended and restated Fluence Energy, Inc.’s certificate of incorporation to, among other things, provide (1) for Class A common stock, with each share of our Class A common stock entitling its holder to one vote per share on all matters presented to our stockholders generally, (2) for Class B-1 common stock, with each share of our Class B-1 common stock entitling its holder to five votes per share on all matters presented to our stockholders generally, (3) for Class B-2 common stock, with each share of our Class B-2 common stock entitling its holder to one vote per share on all matters presented to our stockholders generally, and that shares of our Class B-1 and Class B-2 common stock may only be held by the Founders and their respective permitted transferees; •we acquired, by means of one or more mergers (the “Blocker Mergers”), the Blocker Company and issued to its owner, Qatar Holding LLC (the “Blocker Shareholder”), 18,493,275 shares of our Class A common stock as consideration in the Blocker Mergers; •we issued 117,173,390 shares of our Class B-1 common stock to the Founders, which is equal to the number of LLC Interests held by such Founders, for nominal consideration; •we used the net proceeds from the IPO to purchase 35,650,000 newly issued LLC Interests directly from Fluence Energy, LLC at a price per unit equal to the initial public offering price per share of Class A common stock in the IPO less the underwriting discount and estimated offering expenses payable by us; •Fluence Energy, LLC used the net proceeds from the sale of LLC Interests to Fluence Energy, Inc. to repay all outstanding borrowings under our existing Line of Credit and the Promissory Notes (each as defined in Note 10 - Short-term Borrowing ); •AES Grid Stability, Siemens Industry, and the Blockers Shareholder (collectively, the “Continuing Equity Owners”) and Fluence Energy, Inc. have entered into the Stockholders Agreement and the Registration Rights Agreement. Fluence Energy, Inc., Fluence Energy, LLC, and the Founders entered into a tax receivable agreement (the “Tax Receivable Agreement”). Immediately following the consummation of the Transactions: •Fluence Energy, Inc. became a holding company and its principal asset consists of LLC Interests it purchases directly from Fluence Energy, LLC and acquired indirectly from the Blocker Shareholder; •Fluence Energy, Inc. became the sole managing member of Fluence Energy, LLC and controls the business and affairs of Fluence Energy, LLC and its direct and indirect subsidiaries; •Fluence Energy, Inc. owns, directly or indirectly, 54,143,275 LLC Interests, representing approximately 31.6% of the economic interest in Fluence Energy, LLC; •the Founders own (1) 117,173,390 LLC Interests, representing approximately 68.4% of the economic interest in Fluence Energy, LLC and (2) 117,173,390 shares of Class B-1 common stock of Fluence Energy, Inc., representing approximately 91.5% of the combined voting power of all of Fluence Energy, Inc.’s common stock; •the Blocker Shareholder owns (1) 18,493,275 shares of Class A common stock of Fluence Energy, Inc., representing approximately 2.9% of the combined voting power of all of Fluence Energy, Inc.’s common stock and approximately 34.2% of the economic interest in Fluence Energy, Inc., (2) directly and indirectly through Fluence Energy, Inc.’s ownership of LLC Interests, approximately 10.8% of the economic interest in Fluence Energy, LLC; •the investors in our IPO own (1) 35,650,000 shares of Class A common stock of Fluence Energy, Inc., representing approximately 5.6% of the combined voting power of all of Fluence Energy, Inc.’s common stock and approximately 65.8% of the economic interest in Fluence Energy, Inc., and (2) through Fluence Energy, Inc.’s ownership of LLC Interests, indirectly hold approximately 20.8% of the economic interest in Fluence Energy, LLC; and •we have 23,988,372 shares of Class A common stock reserved for issuance pursuant to awards under our incentive compensation plans.

Goodwill

3 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

No impairment was recognized for the three months ended December 31, 2021 and 2020. The following table presents the goodwill activity:


In thousands	Three Months Ended December 31,
	2021		2020
Goodwill, Beginning of the period	$	9,176	$	4,731
Foreign currency adjustment	(9)		23
Acquisition related goodwill (a)	—		4,449
Goodwill, End of the period	$	9,167	$	9,203

(a) Refer to Note 4 - Business Combination for a further discussion of acquisition related goodwill.

Related-Party Transactions - Statement of Operations and Comprehensive Loss Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Revenue	$ 147,833	$ 18,405
Cost of goods and services	(7,495)	(427)
Research and development expenses	(45)	(92)
Sales and marketing expenses	(607)	(336)
General and administrative expenses	$ (1,191)	$ (182)

- Definition

Direct costs arising from transactions with related parties who are not affiliates or joint Ventures. These costs are categorized as cost of goods sold.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Inventory, Net (Details) - USD ($) $ in Thousands	3 Months Ended
Inventory, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021
Inventory [Line Items]
Cost	$ 448,992		$ 404,014
Provision	(6,636)		(14,227)
Net	442,356		389,787
Inventory provision	3,517	$ 0
2021 Cargo Loss Incident
Inventory [Line Items]
Provision			(13,000)
Inventory valuation reserves, inventory write-down	11,500
Cubes, batteries, and other equipment
Inventory [Line Items]
Cost	441,739		402,157
Provision	(1,545)		(12,980)
Net	440,194		389,177
Cubes, batteries, and other equipment \| 2021 Cargo Loss Incident
Inventory [Line Items]
Provision			(13,000)
Inventory valuation reserves, inventory write-down	11,500
Shipping containers and spare parts
Inventory [Line Items]
Cost	7,253		1,857
Provision	(5,091)		(1,247)
Net	$ 2,162		$ 610

Inventory, Net (Tables)

3 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventory consisted of the following:


In thousands	December 31, 2021						September 30, 2021
	Cost		Provision		Net		Cost		Provision		Net
Cubes, batteries, and other equipment (a)	$	441,739	$	(1,545)	$	440,194	$	402,157	$	(12,980)	$	389,177
Shipping containers and spare parts	7,253		(5,091)		2,162		1,857		(1,247)		610
Total	$	448,992	$	(6,636)	$	442,356	$	404,014	$	(14,227)	$	389,787

(a) Provision at September 30, 2021 included a $13.0 million loss recognized during fiscal year 2021 for inventory damaged in transit related to the 2021 cargo loss incident. During the three months ended December 31, 2021, $11.5 million of inventory was written off against the provision. Refer to Note 12 - Commitments and Contingencies for a detail discussion of the 2021 cargo loss incident.

Stock-Based Compensation - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 24,877	$ 0
Cost of goods and services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	3,528	0
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	1,813	0
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	6,441	0
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 13,095	$ 0

Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Cost	$ 46,482		$ 46,476
Accumulated Amortization	(11,337)		(10,419)
Net	35,145		36,057
Amortization expense	900	$ 800
Patents and licenses
Finite-Lived Intangible Assets [Line Items]
Cost	32,984		32,982
Accumulated Amortization	(9,826)		(9,207)
Net	23,158		23,775
Developed technology
Finite-Lived Intangible Assets [Line Items]
Cost	12,600		12,600
Accumulated Amortization	(1,313)		(1,050)
Net	11,287		11,550
Developed technology \| US Based Software and Digital Intelligence Platform
Finite-Lived Intangible Assets [Line Items]
Net	12,600		12,600
Other
Finite-Lived Intangible Assets [Line Items]
Cost	898		894
Accumulated Amortization	(198)		(162)
Net	700		732
Other \| US Based Software and Digital Intelligence Platform
Finite-Lived Intangible Assets [Line Items]
Net	$ 800		$ 800

Other Current Assets (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
Other Current Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Offsetting Assets [Line Items]
Restricted cash included in “Other current assets”		$ 39,506	$ 1,240	$ 1,248
Taxes recoverable		21,636	14,049
Prepaid expenses		6,504	2,480
Advance payments		2,585	3,601
Receivable from insurance		2,500	10,000
Deferred equity issuance costs		0	7,103
Other		2,062	4,684
Total		74,793	$ 43,157
2021 Cargo Loss Incident
Offsetting Assets [Line Items]
Insurance proceed collected	$ 7,500	$ 7,500

Stock-Based Compensation - Phantom Units (Details) - $ / shares	3 Months Ended	11 Months Ended
	Dec. 31, 2021	Sep. 30, 2021
Phantom units
Number of Awards
Outstanding, Beginning balance (in shares)	2,288,894	0
Granted (in shares)	0	2,688,781
Cancellation of modified awards (in shares)	(595,728)
Re-grant of modified awards (in shares)	595,728
Modified and settled in cash (in shares)	(102,082)
Forfeited (in shares)	(16,271)	(399,887)
Outstanding, Ending balance (in shares)	2,170,541	2,288,894
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value, Beginning balance (usd per share)	$ 2.11	$ 0
Granted, Weighted average grant date fair value (usd per share)	0	2.12
Cancellation of modified awards, Weighted average grant date fair value (usd per share)	2.20
Re-grant of modified awards, Weighted average grant date fair value (usd per share)	28.00
Modified and settled in cash, Weighted average grant date fair value (usd per share)	2.20
Forfeited, Weighted average grant date fair value (usd per share)	2.20	2.20
Outstanding, Weighted average grant date fair value, Ending balance (usd per share)	$ 9.18	$ 2.11
Liability-classified awards
Number of Awards
Outstanding, Beginning balance (in shares)	454,180	0
Granted (in shares)	0	465,275
Forfeited (in shares)	(48,821)	(11,095)
Outstanding, Ending balance (in shares)	405,359	454,180
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value, Beginning balance (usd per share)	$ 2.41	$ 0
Granted, Weighted average grant date fair value (usd per share)	0	2.41
Forfeited, Weighted average grant date fair value (usd per share)	2.39	2.45
Outstanding, Weighted average grant date fair value, Ending balance (usd per share)	$ 2.42	$ 2.41

Stock-Based Compensation - Options (Details) - $ / shares	3 Months Ended	11 Months Ended
	Dec. 31, 2021	Sep. 30, 2021
Number of Awards
Outstanding, Beginning balance (in shares)	11,922,562	0
Granted (in shares)	0	12,389,470
Modified and settled in cash (in shares)	(112,439)
Forfeited (in shares)	(515,442)	(466,908)
Outstanding, Ending Balance (in shares)	11,294,681	11,922,562
Weighted-Average Exercise Price
Options outstanding, Weighted average exercise price per share, Beginning balance (usd per share)	$ 2.45	$ 0
Options granted, Weighted average exercise price per share (usd per share)	0	2.45
Options modified and settled in cash, Weighted average exercise price per share (usd per share)	2.45
Options forfeited, Weighted average exercise price per share (usd per share)	2.45	2.45
Options outstanding, Weighted average exercise price per share, Ending balance (usd per share)	$ 2.45	$ 2.45

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Dec. 31, 2021	Sep. 30, 2021
Current assets:
Cash and cash equivalents	$ 632,143,000	$ 36,829,000
Trade receivables, net of allowances ($88 and $90 at December 31 and September 30, 2021, respectively)	56,136,000	46,664,000
Unbilled receivables	86,933,000	101,975,000
Receivables from related parties	48,388,000	33,362,000
Advances to suppliers	40,586,000	9,741,000
Inventory, net	442,356,000	389,787,000
Other current assets	74,793,000	43,157,000
Total current assets	1,381,335,000	661,515,000
Non-current assets:
Property and equipment, net	8,567,000	8,206,000
Intangible assets, net	35,145,000	36,057,000
Goodwill	9,167,000	9,176,000
Deferred income tax asset	1,184,000	1,184,000
Other Assets, Noncurrent	47,256,000	1,537,000
Total non-current assets	101,319,000	56,160,000
Total assets	1,482,654,000	717,675,000
Current liabilities:
Accounts payable	92,802,000	158,366,000
Deferred revenue	145,765,000	71,365,000
Borrowing from line of credit	0	50,000,000
Borrowing from related parties	0	50,000,000
Personnel related liabilities	22,990,000	12,861,000
Accruals and provisions	214,838,000	186,143,000
Payables and deferred revenue with related parties	206,021,000	227,925,000
Taxes payable	17,764,000	12,892,000
Other current liabilities	2,175,000	1,941,000
Total current liabilities	702,355,000	771,493,000
Non-current liabilities:
Personnel related liabilities	1,859,000	1,607,000
Accruals and provisions	340,000	774,000
Total non-current liabilities	2,199,000	2,381,000
Total liabilities	704,554,000	773,874,000
Commitments and contingencies (Note 12)
Mezzanine equity (0 and 18,493,275 units issued and outstanding as of December 31, 2021 and September 30, 2021, respectively)		117,235,000
Stockholders’ Equity / Members’ Deficit
Members’ capital contributions		106,152,000
Preferred stock, $0.00001 per share, 10,000,000 shares authorized; no shares issued and outstanding as of December 31, 2021.	0
Additional paid-in capital	281,347,000
Accumulated other comprehensive income (loss)	4,000	(285,000)
Accumulated deficit	(28,805,000)	(279,301,000)
Total stockholder's equity attributable to Fluence Energy, Inc	252,547,000
Total stockholder's equity attributable to Members' deficit		(173,434,000)
Non-controlling interests	525,553,000
Total stockholders' equity	778,100,000
Total liabilities, stockholders’ equity, members’ deficit, and mezzanine equity	1,482,654,000	$ 717,675,000
Class A common stock
Stockholders’ Equity / Members’ Deficit
Common stock	0
Class B-1 common stock
Stockholders’ Equity / Members’ Deficit
Common stock	1,000
Class B-2 common stock
Stockholders’ Equity / Members’ Deficit
Common stock	$ 0

Business Combinations - Narrative (Details) $ in Millions	1 Months Ended
Business Combinations - Narrative (Details) $ in Millions	Oct. 31, 2020 USD ($)
US Based Software and Digital Intelligence Platform
Business Acquisition [Line Items]
Cash paid for investment	$ 18.0

Summary of Significant Accounting Policies and Estimates - Non-controlling Interest (Details) - Fluence Energy, LLC	Dec. 31, 2021	Nov. 01, 2021
Noncontrolling Interest [Line Items]
Fluence Energy, LLC percentage owned	31.60%	31.60%
Founders percentage owned	68.40%	68.40%

Summary of Significant Accounting Policies and Estimates (Policies)

3 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidation

The accompanying condensed consolidated financial statements include the accounts of Fluence Energy Inc. and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Principles of Accounting

Non-controlling Interest

The non-controlling interest on the condensed consolidated statement of operations and comprehensive loss represents the portion of earnings or loss attributable to the economic interest in Fluence Energy, LLC, held by the Founders. For the three months ended December 31, 2021, the net loss of Fluence Energy, LLC prior to the date of the Transactions has been attributed to the non-controlling interest, and the net loss of Fluence Energy, LLC subsequent to the date of the Transactions has been allocated between Fluence Energy, Inc. and the non-controlling interest based on the respective ownership percentages of Fluence Energy, LLC held by Fluence Energy, Inc. and the Founders. Non-controlling interest on the condensed consolidated balance sheet represents the portion of net assets of the Company attributable to the Founders, based on the portion of the LLC Interests owned by such shareholders.

Reclassification

Certain prior year amounts have been reclassified from “Cost of goods and services” to “Sales and marketing” and “General and administrative” to conform to current period presentation on the condensed consolidated statements of operations and comprehensive loss.

Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on-hand and highly liquid investments readily convertible to cash, with an original maturity of 90 days or less when purchased.

Cash restricted for use as a result of financing or other obligations is classified separately as restricted cash in “Other current assets” and “Other non-current assets” on the Company’s condensed consolidated balance sheets.

Fair Value Measurements

The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs and to minimize the use of unobservable inputs. The following fair value hierarchy, defined by ASC 820, Fair Value Measurements, is used to classify assets and liabilities based on the observable inputs and unobservable inputs used to value the assets and liabilities:

Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2—Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 inputs include those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted prices, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace.

Level 3—Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value from the perspective of a market participant. The Company does not have any recurring Level 3 fair value measurements.

The Company’s cash equivalents include term deposits with original maturity of less than three months and are recorded at amortized cost. Fair value of cash equivalents approximates the carrying amount using Level 2 inputs. The carrying amounts of trade receivables, accounts payable and short-term debt obligations approximate fair values due to their short maturities using Level 2 inputs.

Loss per Share

Basic net loss per share of Class A Common Stock is computed by dividing net loss attributable to Class A common stockholders by the weighted average number of shares of Class A Common Stock outstanding during the period. Diluted net loss per share of Class A Common Stock is computed by adjusting the net loss available to Class A common stockholders and the weighted-average shares of Class A common stock outstanding to give effect to potentially dilutive securities. Shares of our Class B-1 and Class B-2 common stock are not entitled to receive any distributions or dividends and have no rights to convert into Class A common stock. When a common unit of Fluence Energy, LLC is exchanged for, at the Company’s election, cash or Class A common stock by a Founder who holds shares of our Class B-1 or Class B-2 common stock, such Founder will be required to surrender a share of Class B-1 or Class B-2 common stock, as the case may be, which we will cancel for no consideration. In the event of cash settlement, the Company is required to issue new shares of Class A common stock and use the proceeds from the sale of these newly-issued shares of Class A common stock to fully fund the cash settlement. Therefore, we did not include shares of our Class B-1 or Class B-2 common stock in the computation of basic loss per share. As we have incurred losses for all periods presented, diluted loss per share is equal to basic loss per share because the effect of potentially dilutive securities would be antidilutive. The potentially dilutive securities that were excluded consist of 117,173,390 Class B-1 common shares, 11,294,681 outstanding stock options, 2,170,541 outstanding phantom units, and 670,487 outstanding restricted stock units.All earnings prior to and up to November 1, 2021, the date of completion of the IPO, were entirely allocable to non-controlling interest and, as a result, loss per share information is not applicable for reporting periods prior to this date. Consequently, only the net loss allocable to Fluence Energy, Inc. from the period subsequent to November 1, 2021 is included in the net loss attributable to the stockholders of Class A Common Stock for the three months ended December 31, 2021.

Recent Accounting Standards Adopted and Recent Accounting Standards Not Yet Adopted

Recent Accounting Standards Adopted

No new accounting standards were adopted during the three months ended December 31, 2021.

Recent Accounting Standards Not Yet Adopted

The following table presents accounting standards not yet adopted:


Standard	Description	Required date of adoption	Effect on the financial statements and other significant matters
ASU 2016-02, Leases (Topic 842)	In February 2016, the FASB issued ASU 2016-02, which supersedes existing guidance on accounting for leases in ASC 840, Leases. This standard requires all leases to be recognized on the consolidated balance sheet. The FASB has issued several amendments to ASU 2016-02, including ASU 2018-11, Leases (Topic 842): Targeted Improvements that introduced an additional transition method permitting an entity to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. ASU 2016-02 includes optional practical expedients intended to reduce the cost and complexity to implement the new lease standard, such as an option to maintain the current lease classification for all existing lease arrangements and the option to use hindsight in evaluating lessee options to extend or terminate a lease. Early application is permitted.	As an emerging growth company, the Company is permitted to defer adoption until the non-public company adoption date, i.e., annual periods starting after December 15, 2021.	The Company’s existing lease population is mainly comprised of operating leases for office space. The Company is currently evaluating the impact of adoption on its consolidated financial statements.


Standard	Description	Required date of adoption	Effect on the financial statements and other significant matters
ASU 2016-13, Financial Instruments—Credit Losses (Topic 326)	In February 2016, the FASB issued ASU 2016-13, which updates the impairment model for financial assets measured at amortized cost, known as the Current Expected Credit Loss (“CECL”) model. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that generally will result in the earlier recognition of allowance for losses. There are various transition methods available upon adoption. Early adoption is permitted.	As an EGC, the Company is permitted to defer adoption until the non-public company adoption date, i.e., annual periods starting after December 15, 2022.	The Company is currently evaluating the impact of adoption on its consolidated financial statements.
ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	In December 2019, the FASB issued ASU 2019-12, which removes certain exceptions related to the approach for intraperiod tax allocations, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. The guidance also clarifies and simplifies other areas of ASC 740. Certain amendments must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. Early adoption is permitted.	As an EGC, the Company is permitted to defer adoption until the non-public company adoption date, i.e., annual periods starting December 15, 2021, and for interim periods beginning after December 15, 2022.	The Company is currently evaluating the impact of adoption on its consolidated financial statements.
ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848)	In March 2020, the FASB issued ASU 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to transactions affected by reference rate (e.g., LIBOR) reform if certain criteria are met, for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting.	The ASU is effective as of March 12, 2020 through December 31, 2022.	The Company is currently evaluating transactions or contract modifications occurring as a result of reference rate reform and determining whether to apply the optional guidance on an ongoing basis. The ASU is currently not expected to have a material impact on our consolidated financial statements.

Income Taxes (Details) - USD ($)	3 Months Ended
Income Taxes (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 358,000	$ 685,000
Effective tax rate	(0.30%)	(5.80%)
Unrecognized tax benefits	$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Other Current Assets (Tables)

3 Months Ended

Dec. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Current Assets

Other current assets consisted of the following amounts:


In thousands	December 31, 2021		September 30, 2021
Restricted cash	$	39,506	$	1,240
Taxes recoverable	21,636		14,049
Prepaid expenses	6,504		2,480
Advance payments	2,585		3,601
Receivable from insurance (a)	2,500		10,000
Deferred equity issuance costs	—		7,103
Other	2,062		4,684
Total	$	74,793	$	43,157

Goodwill - Narrative (Details) - USD ($)	3 Months Ended
Goodwill - Narrative (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 0	$ 0

Supply Chain Financing (Details) - USD ($) $ in Millions	Dec. 31, 2021	Sep. 30, 2021
Related Party Transaction [Line Items]
Guarantees issued	$ 100.0
AES Grid Stability \| Affiliated Entity
Related Party Transaction [Line Items]
Guarantees issued	50.0
Siemens Industry \| Affiliated Entity
Related Party Transaction [Line Items]
Guarantees issued	50.0
Supply Chain Financing Bank
Related Party Transaction [Line Items]
Payables outstanding subject to the program	$ 34.6	$ 58.4

Related-Party Transactions - Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Related Party Transactions [Abstract]
Accounts receivable	$ 42,510	$ 26,292
Unbilled receivables	5,878	7,070
Total receivables from related parties	48,388	33,362
Accounts payable	1,464	4,510
Deferred revenue	200,085	220,122
Accrued liabilities	4,472	3,293
Total payables and deferred revenue with related parties	$ 206,021	$ 227,925

- Definition

The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(11))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3)(a)(2))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=124098289&loc=d3e6676-107765

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Organization and Operations (Details) $ / shares in Units, $ in Thousands			3 Months Ended
	Nov. 01, 2021 USD ($) $ / shares shares	Dec. 27, 2020 USD ($) shares	Dec. 31, 2021 segment vote $ / shares shares	Oct. 31, 2021 shares
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of operating segments \| segment			1
Number of reportable segments \| segment			1
Shares outstanding (in shares)				135,666,665
Class A common stock
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Shares issued upon exchange (in shares)			18,493,275
Par value, Class A common stock (in usd per share) \| $ / shares	$ 0.00001		$ 0.00001
Votes per share \| vote			1
Class A common stock reserved (in shares)	23,988,372
Class B-1 common stock
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Shares issued upon exchange (in shares)			117,173,390
Par value, Class A common stock (in usd per share) \| $ / shares			$ 0.00001
Votes per share \| vote			5
Class B-2 common stock
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Par value, Class A common stock (in usd per share) \| $ / shares			$ 0.00001
Votes per share \| vote			1
IPO \| Class A common stock
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Shares sold in offering (in shares)	35,650,000
Public offering price per share (in usd per share) \| $ / shares	$ 28.00
Aggregate net proceeds from stock offering \| $	$ 935,800
Over-Allotment Option \| Class A common stock
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Shares sold in offering (in shares)	4,650,000
Fluence Energy, Inc
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment owned percentage	65.80%
Voting power percentage	5.60%
Fluence Energy, Inc \| Class A common stock
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment owned (in shares)	35,650,000
Fluence Energy, Inc \| Class B-1 common stock
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment owned (in shares)	117,173,390
Fluence Energy, LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment owned (in shares)	117,173,390
Fluence Energy, LLC percentage owned	31.60%		31.60%
Founders percentage owned	68.40%		68.40%
Investment owned percentage	20.80%
QIA Florence Holdings LLC (QFH)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment amount \| $		$ 125,000
Class B units issued (in shares)		18,493,275

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net loss	$ (111,460)	$ (12,496)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,427	1,070
Amortization of debt issuance costs	137	0
Inventory provision	3,517	0
Stock based compensation expense	24,877	0
Provision (benefit) on loss contracts	5,668	(1,399)
Changes in operating assets and liabilities:
Trade receivables	(9,472)	4,094
Unbilled receivables	15,042	(21,961)
Receivables from related parties	(15,026)	(13,857)
Advances to suppliers	(30,845)	(5,219)
Inventory	(56,086)	(141,213)
Other current assets	(134)	(718)
Other non-current assets	(35,371)	(15)
Accounts payable	(59,244)	(27,353)
Payables and deferred revenue with related parties	(21,904)	26,727
Deferred revenue	74,400	30,609
Current accruals and provisions	23,027	110,491
Taxes payable	4,872	(3,340)
Other current liabilities	(4,794)	(3,935)
Other non-current liabilities	(182)	207
Net cash used in operating activities	(191,551)	(58,308)
Investing activities
Cash paid for business acquisition	0	(18,000)
Purchase of property and equipment	(870)	(1,055)
Net cash used in investing activities	(870)	(19,055)
Financing activities
Proceeds from issuance of Class A common stock sold in the IPO, net of underwriting discounts	947,991	0
Payment of IPO costs	(5,465)	0
Payment of transaction cost related to issuance of membership units	(6,320)	0
Payment of debt issuance costs	(2,719)	0
Repayment of promissory notes – related parties	(50,000)	0
Borrowing from line of credit	0	22,000
Repayment to line of credit	(50,000)	0
Net cash provided by financing activities	833,487	22,000
Effect of exchange rate changes on cash and cash equivalents	280	(868)
Net increase (decrease) in cash and cash equivalents	641,346	(56,231)
Cash, cash equivalents, and restricted cash as of the beginning of the period	679,415	38,820
Cash, cash equivalents, and restricted cash as of the end of the period	38,069	95,051
Supplemental Cash Flows Information:
Interest Paid	503	0
Cash paid for income taxes	9	178
Reclassification of deferred offering costs to additional paid-in capital	6,764	0
IPO costs included in accounts payable	$ 4,865	$ 0

Commitment and Contingencies	3 Months Ended
Commitment and Contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has certain contractual obligations incurred in the normal course of business that require fixed and determinable payments in the future. These commitments include lease obligations and purchase commitments under a master supply agreement. The Company did not have significant changes in lease contracts an and purchase commitments during the three months ended December 31, 2021. During the three months ended December 31, 2021, the Company made a $60.0 million advance payment as a capacity guarantee pursuant to a purchase agreement with one of our suppliers, of which, $25.0 million and $35.0 million was recorded within “Advances to suppliers” and “Other non-current assets”, respectively, on the condensed consolidated balance sheets. Legal Contingencies From time to time, the Company may be involved in litigation relating to claims that arise out of our operations and businesses and that cover a wide range of matters, including, among others, intellectual property matters, contract and employment claims, personal injury claims, product liability claims and warranty claims. The Company accrues for litigation and claims when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. It is reasonably possible that some matters could be decided unfavorably to the Company and could require the Company to pay damages or make expenditures in amounts that could be material. In aggregate, the Company estimates the range of potential losses, where estimable, related to reasonably possible material contingencies to be between $0 million and $5 million. The following discussion covers the Company’s potential loss contingencies as of December 31, 2021: 2021 Cargo Loss Incident On April 28, 2021, the Company was notified of an emergency aboard a vessel carrying Fluence inventory. This incident (the “Cargo Loss Incident”) resulted in damage to a portion of our cargo aboard the vessel. The Company has recorded $13.0 million provision to its inventory as of September 30, 2021 based on the net realizable value of cargo that was destroyed. During the three months ended December 31, 2021, $11.5 million of inventory was written off against the provision. In addition to the inventory losses, we have incurred and expect to incur incremental expenses related to the incident, primarily consisting of inspection costs, project cost overruns due to logistical changes, legal fees and fees to dispose of the damaged cargo. We expect insurance proceeds of at least $10.0 million related to non-disputed claims, of which $7.5 million was collected in October 2021 and the remainder is probable of collection. The Company has notified the marine cargo insurers of the incident and has also notified each affected customer of this event, which under relevant supply contracts, provides the Company an extension of the relevant schedule due to the resulting battery supply delays. We believe this event qualifies as force majeure under the contracts with our customers. However, if the incident ultimately is determined not to constitute a force majeure event, the Company estimates potential liquidated damages exposure of approximately $15.0 million. 2021 Overheating Event at Customer Facility On September 4, 2021, a 300 MW energy storage facility owned by one of our customers experienced an overheating event. Fluence served as the energy storage technology provider and installed the facility, which was completed in fiscal year 2021. No injuries were reported from the incident. Since then, the facility was taken offline as teams from Fluence, our customer, and the battery manufacturer investigate the incident. Our customer recently has released initial findings on what it contends is the root cause of the incident. At this time, Fluence cannot comment on or accept the customer’s stated findings, because Fluence’s investigation of the root cause remains ongoing, with continued participation by our customer and other parties involved. The customer’s stated findings, if ultimately confirmed and proven, could relate to certain scopes of work for which Fluence or its subcontractors could be responsible. The customer’s stated findings, however, could also relate to certain scopes of work for which other parties were responsible and/or relate to other causes. We are currently not able to estimate the impact, if any, that this incident may have on our reputation or financial results, or on the market adoption of our products.

Intangible Assets, Net (Tables)

3 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

Intangible assets are stated at amortized cost and consist of the following:


In thousands	December 31, 2021						September 30, 2021
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Patents and licenses	$	32,984	$	(9,826)	$	23,158	$	32,982	$	(9,207)	$	23,775
Developed technology (a)	12,600		(1,313)		11,287		12,600		(1,050)		11,550
Other (a)	898		(198)		700		894		(162)		732
Total	$	46,482	$	(11,337)	$	35,145	$	46,476	$	(10,419)	$	36,057

(a) The developed technology intangible asset and other intangible asset included $12.6 million and $0.8 million, respectively, related to the a business acquisition discussed in Note 4 - Business Combinations.

Intangible Assets, Net

3 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Intangible assets are stated at amortized cost and consist of the following:


In thousands	December 31, 2021						September 30, 2021
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Patents and licenses	$	32,984	$	(9,826)	$	23,158	$	32,982	$	(9,207)	$	23,775
Developed technology (a)	12,600		(1,313)		11,287		12,600		(1,050)		11,550
Other (a)	898		(198)		700		894		(162)		732
Total	$	46,482	$	(11,337)	$	35,145	$	46,476	$	(10,419)	$	36,057

Intangible assets are amortized over their estimated useful lives on a straight-line basis. Total amortization expense for the three months ended December 31, 2021 and 2020 were $0.9 million and $0.8 million, respectively.

Stock-Based Compensation - Unrecognized Stock Compensation Expense (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2021 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock Compensation Expense, Options	$ 4,292
Total unrecognized stock compensation expense	$ 46,465
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Remaining Period of Expense Recognition (in years)	1 year 7 months 6 days
Phantom units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock Compensation Expense, not options	$ 15,857
Weighted Average Remaining Period of Expense Recognition (in years)	1 year 8 months 12 days
Liability-classified awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock Compensation Expense, not options	$ 4,144
Weighted Average Remaining Period of Expense Recognition (in years)	3 months 18 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock Compensation Expense, not options	$ 22,172
Weighted Average Remaining Period of Expense Recognition (in years)	1 year 10 months 24 days

Business Combinations

3 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Business Combinations

During October 2020, the Company acquired the assets and assumed the liabilities of a US based software and digital intelligence platform. The Company expects the acquisition will offer new capabilities, amplify and extend the Company’s energy storage product line, enabling customers to maximize the value of energy storage and renewables while accelerating grid decarbonization. The acquisition price of $18.0 million was fully paid with cash, and was adjusted for an immaterial amount to account for changes in net working capital adjustments. The acquisition represents a business combination. the Company included the financial results of the acquisition in its consolidated financial statements from the date of acquisition. Transaction costs associated with the acquisition were not significant and were expensed as incurred. The following table summarizes the aggregate fair values and estimated useful lives of the assets acquired and liabilities assumed, as of the date of the acquisition.


In thousands	Fair Value		Estimated Useful Life
Intangible assets - Developed technology	$	12,600	12 years
Intangible assets - Customer relationships	780		6 years
Property and equipment	171		Various
Goodwill	4,449
Cash paid for acquisition	$	18,000

The fair value of developed technology was determined using the multi-period excess earnings method as developed technology is considered to be the primary revenue-generating identifiable intangible asset acquired in the acquisition. The fair value assigned to assets acquired and liabilities assumed are based on management’s estimates and assumptions.

The goodwill is primarily attributed to the expanded market opportunities when integrating the acquired entity’s technology with the Company’s technology and the assembled workforce. The excess of the acquisition price over the fair value of assets acquired and liabilities assumed was recorded to goodwill. The Company expects such goodwill to be deductible for income tax purposes. Purchase accounting adjustments related to the acquisition have been completed.

Stock-Based Compensation - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended			12 Months Ended
	Nov. 01, 2021	Oct. 31, 2021	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021	Oct. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense				$ 24,877,000	$ 0
Options exercised in period (in shares)				0
Options exercisable (in shares)				0
Weighted average grant date, fair value for options granted (in dollars per share)						$ 0.69
Intrinsic value of options outstanding				$ 374,000,000
Weighted average remaining contractual term of options outstanding				9 years 3 months 18 days
2021 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class A common stock available for issuance (in shares)				9,500,000
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incremental stock compensation expense related to modification				$ 5,700,000
Executive Officer \| Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incremental stock compensation expense related to modification			$ 16,700,000
Phantom units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)				2,170,541		2,288,894	0
Cancellation of modified awards (in shares)				595,728
Stock based compensation expense						$ 0
Service requirement (in years)				6 months
RSU vesting period (in years)				1 year 8 months 12 days
Phantom units \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting amount (in shares)	102,082
Phantom units \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	893,589
Cancellation of modified awards (in shares)		595,728
Phantom units \| Executive Officer \| 6 month anniversary of IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage				33.33%
Phantom units \| Executive Officer \| 18 month anniversary of IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage				33.33%
Phantom units \| Executive Officer \| 30 month anniversary of IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage				33.33%
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)				670,487		0
Service requirement (in years)				3 years
RSU vesting period (in years)				1 year 10 months 24 days
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense						$ 0
Service requirement (in years)				3 years
Options expiration period (in years)				10 years
RSU vesting period (in years)				1 year 7 months 6 days
Options \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting amount (in shares)	112,439
Liability-classified awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)				405,359		454,180	0
RSU vesting period (in years)				3 months 18 days
Liability reflecting fair value of liability-classified awards				$ 15,200,000

Summary of Significant Accounting Policies and Estimates (Tables)

3 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash as shown in the Company’s condensed consolidated statements of cash flows:


	December 31,
in thousands	2021		2020
Cash and cash equivalents	$	632,143	$	37,572
Restricted cash included in “Other current assets”	39,506		1,248
Restricted cash included in “Other non- current assets”	7,766		—
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$	679,415	$	38,820

Restrictions on Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash as shown in the Company’s condensed consolidated statements of cash flows:


	December 31,
in thousands	2021		2020
Cash and cash equivalents	$	632,143	$	37,572
Restricted cash included in “Other current assets”	39,506		1,248
Restricted cash included in “Other non- current assets”	7,766		—
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$	679,415	$	38,820

Schedule of Earnings Per Share, Basic and Diluted

Basic and diluted net loss per share of Class A Common Stock from November 1, 2021 to December 31, 2021 have been computed as follows:


In thousands, except share and per share amounts
Net Loss for the three months ended December 31, 2021	(111,460)

Less: Net loss attributable to the non-controlling interest	(82,655)
Net loss attributable to Fluence Energy, Inc.	$	(28,805)

Weighted average number of Class A common shares outstanding, basic and diluted	54,143,275
Loss per share of Class A common stock, basic and diluted	$	(0.53)

Accounting Standards Update and Change in Accounting Principle

The following table presents accounting standards not yet adopted:


Standard	Description	Required date of adoption	Effect on the financial statements and other significant matters
ASU 2016-02, Leases (Topic 842)	In February 2016, the FASB issued ASU 2016-02, which supersedes existing guidance on accounting for leases in ASC 840, Leases. This standard requires all leases to be recognized on the consolidated balance sheet. The FASB has issued several amendments to ASU 2016-02, including ASU 2018-11, Leases (Topic 842): Targeted Improvements that introduced an additional transition method permitting an entity to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. ASU 2016-02 includes optional practical expedients intended to reduce the cost and complexity to implement the new lease standard, such as an option to maintain the current lease classification for all existing lease arrangements and the option to use hindsight in evaluating lessee options to extend or terminate a lease. Early application is permitted.	As an emerging growth company, the Company is permitted to defer adoption until the non-public company adoption date, i.e., annual periods starting after December 15, 2021.	The Company’s existing lease population is mainly comprised of operating leases for office space. The Company is currently evaluating the impact of adoption on its consolidated financial statements.


Standard	Description	Required date of adoption	Effect on the financial statements and other significant matters
ASU 2016-13, Financial Instruments—Credit Losses (Topic 326)	In February 2016, the FASB issued ASU 2016-13, which updates the impairment model for financial assets measured at amortized cost, known as the Current Expected Credit Loss (“CECL”) model. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that generally will result in the earlier recognition of allowance for losses. There are various transition methods available upon adoption. Early adoption is permitted.	As an EGC, the Company is permitted to defer adoption until the non-public company adoption date, i.e., annual periods starting after December 15, 2022.	The Company is currently evaluating the impact of adoption on its consolidated financial statements.
ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	In December 2019, the FASB issued ASU 2019-12, which removes certain exceptions related to the approach for intraperiod tax allocations, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. The guidance also clarifies and simplifies other areas of ASC 740. Certain amendments must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. Early adoption is permitted.	As an EGC, the Company is permitted to defer adoption until the non-public company adoption date, i.e., annual periods starting December 15, 2021, and for interim periods beginning after December 15, 2022.	The Company is currently evaluating the impact of adoption on its consolidated financial statements.
ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848)	In March 2020, the FASB issued ASU 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to transactions affected by reference rate (e.g., LIBOR) reform if certain criteria are met, for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting.	The ASU is effective as of March 12, 2020 through December 31, 2022.	The Company is currently evaluating transactions or contract modifications occurring as a result of reference rate reform and determining whether to apply the optional guidance on an ongoing basis. The ASU is currently not expected to have a material impact on our consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY, MEMBERS'' DEFICIT, AND MEZZANINE EQUITY (UNAUDITED) (Parenthetical) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended
	Oct. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Other comprehensive loss, tax	$ 0	$ 0	$ 0

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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+ Details

Current Accruals and Provisions

3 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Current Accruals and Provisions

Accruals mainly represent not yet invoiced milestones for inventory such as batteries, cubes, and inverters. According to master supply agreements between the Company and suppliers of the inventory, vendor bills are issued according to contracted billing schedules with some milestones invoiced after delivery, upon full installation and commissioning of the equipment at substantial completion and final completion project stages. Current accruals and provisions consisted of the following:


In thousands	December 31, 2021		September 30, 2021
Accruals	$	178,990	$	155,963
Provisions for expected project losses	35,848		30,180

Total	$	214,838	$	186,143

- Definition

The entire disclosure for long-term contracts or programs.

+ References

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+ Details

Revenue from Contracts with Customers - Contract Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Consolidated Entities, Excluding Affiliated Entities
Contract With Customer, Liability [Roll Forward]
Deferred revenue beginning of period	$ 71,365	$ 123,841
Additions	87,800	73,025
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(13,400)	(42,416)
Deferred revenue end of period	145,765	154,450
Affiliated Entity
Contract With Customer, Liability [Roll Forward]
Deferred revenue beginning of period	220,122	11,425
Additions	87,543	34,471
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(107,580)	(1,615)
Deferred revenue end of period	$ 200,085	$ 44,281

Related-Party Transactions

3 Months Ended

Dec. 31, 2021

Related-Party Transactions

Related parties are represented by AES and Siemens, their respective subsidiaries and other entities under common control.

Borrowings from Related Parties

On August 11, 2021, the Company borrowed $25.0 million and $25.0 million from AES Grid Stability and Siemens Industry, respectively, in the form of subordinated promissory notes, each bearing an annual interest at 2.86%. The promissory notes were paid off on November 1, 2021 using proceeds from the IPO.

Sales and Procurement Contracts with Related Parties

Fluence signs battery-based energy storage product and related service contracts with AES, Siemens and their subsidiaries (collectively refer to as affiliates). The contract price is similar to the price charged to third-party customers. Revenue from contracts with affiliates is included in “Revenue from related parties” on the Company’s condensed consolidated statements of operations and comprehensive loss.

In addition, Fluence purchases material and supplies from its affiliates and records the costs in “Cost of goods and services” on the Company’s condensed consolidated statements of operations and comprehensive loss.

Service Agreements with Affiliates

Fluence and its affiliates have signed service agreements under which the affiliates provide certain management and administrative services to Fluence. The services include but are not limited to, treasury, information technology services, payroll and human resources services, sales and marketing services, research and development. Cost of services are accrued monthly and included in “Payables and deferred revenue with related parties”, and “General and administrative”, “Sales and marketing”, or “Research and development” on the Company’s condensed consolidated balance sheets and statements of operations and comprehensive loss, respectively.

Contract Performance Guarantees

Fluence paid performance guarantee fees to its affiliates in exchange for guaranteeing Fluence’s performance obligations in certain contracts with customers. Fluence paid guarantee fees to its affiliates under contractual arrangements and the fees are based on parent costs with a reasonable markup. The guarantee fees are included in “Costs of goods and services” on Fluence’s condensed consolidated statements of operations and comprehensive loss.

The following table presents the components of receivables from related parties and payable to related parties on the Company’s condensed consolidated balance sheets:


In thousands	December 31, 2021		September 30, 2021
Accounts receivable	$	42,510	$	26,292
Unbilled receivables	5,878		7,070
Total receivables from related parties	$	48,388	$	33,362
Accounts payable	$	1,464	$	4,510
Deferred revenue	200,085		220,122
Accrued liabilities	4,472		3,293
Total payables and deferred revenue with related parties	$	206,021	$	227,925

Unbilled receivables represent the excess of revenues recognized over billings to date on sales or service contracts with related parties. Deferred revenue represents the excess billings to date over the amount of revenue recognized to date on sales or service contracts with related parties. Receivables from related parties and payables and deferred revenue with related parties are unsecured and settlement of these balances occurs in cash. No provision has been made related to the receivables from related parties.

The following table presents the related party transactions that are included the Company’s condensed consolidated statements of operations and comprehensive loss for the periods indicated:


In thousands	Three Months Ended December 31,
	2021		2020
Revenue	$	147,833	$	18,405
Cost of goods and services	(7,495)		(427)
Research and development expenses	(45)		(92)
Sales and marketing expenses	(607)		(336)
General and administrative expenses	(1,191)		(182)

Inventory, Net

3 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventory, Net

Inventory consisted of the following:


In thousands	December 31, 2021						September 30, 2021
	Cost		Provision		Net		Cost		Provision		Net
Cubes, batteries, and other equipment (a)	$	441,739	$	(1,545)	$	440,194	$	402,157	$	(12,980)	$	389,177
Shipping containers and spare parts	7,253		(5,091)		2,162		1,857		(1,247)		610
Total	$	448,992	$	(6,636)	$	442,356	$	404,014	$	(14,227)	$	389,787

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount of remaining performance obligations	$ 1,921.0
Change in estimate of transaction price	$ 60.1		$ 52.8
Total Revenues \| Customer Concentration Risk \| One Customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage	84.00%
Total Revenues \| Customer Concentration Risk \| Two Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage		72.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligations	90.00%
Expected time period of satisfaction (in yeaers)	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected time period of satisfaction (in yeaers)	5 years

Revenue from Contracts with Customers

3 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

The following table presents the Company’s revenue disaggregated by geographical region. Revenues are attributed to regions based on location of customers.


In thousands	Three Months Ended December 31,
	2021		2020
Americas (North, Central and South America)	$	141,833	$	44,152
APAC (Asia Pacific)	16,809		62,398
EMEA (Europe, Middle-East and Africa)	16,245		9,683
Total	$	174,887	$	116,233

Deferred Revenue

Deferred revenue represents the excess billings over the amount of revenue recognized to date. Deferred revenue from related parties is included in payables and deferred revenue with related parties on the Company’s condensed consolidated balance sheets. The following table provides information about deferred revenue from contracts with customers:


In thousands	Three Months Ended December 31,
	2021		2020
Deferred revenue beginning of period	$	71,365	$	123,841
Additions	87,800		73,025
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(13,400)		(42,416)
Deferred revenue end of period	$	145,765	$	154,450


In thousands	Three Months Ended December 31,
	2021		2020
Deferred revenue from related parties beginning of period	$	220,122	$	11,425
Additions	87,543		34,471
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(107,580)		(1,615)
Deferred revenue from related parties end of period	$	200,085	$	44,281

Customer Concentration

For the three months ended December 31, 2021, the Company had one customer that accounted for 84% of total revenue.

For the three months ended December 31, 2020, the Company had two customers, in the aggregate, that accounted for 72% of the total revenue.

The Company has a limited number of suppliers of batteries, which is a major component of energy storage products.

Remaining performance obligations

The Company’s remaining performance obligations (“backlog”) represent the unrecognized revenue value of its contract commitments, which include deferred revenue and amounts that will be billed and recognized as revenue in future periods. The Company’s backlog may vary significantly each reporting period based on the timing of major new contract commitments and the backlog may fluctuate with currency movements. In addition, the Company’s customers have the right, under some circumstances, to terminate contracts or defer the timing of its services and their payments to the Company.

As of December 31, 2021, the Company had a total of $1,921.0 million of remaining performance obligations related to our contract commitments, of which we expect to recognize 90% in revenue in the next five years and the remainder after five years.

Variable consideration

As of December 31, 2021 and September 30, 2021, the transaction prices of our active energy solution contracts have been reduced to reflect variable consideration of $60.1 million and $52.8 million, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

Current Accruals and Provisions (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Payables and Accruals [Abstract]
Accruals	$ 178,990	$ 155,963
Provisions for expected project losses	35,848	30,180
Total	$ 214,838	$ 186,143

Summary of Significant Accounting Policies and Estimates

3 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Significant Accounting Policies and Estimates

Principles of Accounting and Consolidation

As the sole managing member of Fluence Energy, LLC, Fluence Energy, Inc. operates and controls all the business and affairs of Fluence Energy, LLC and, through Fluence Energy, LLC and its direct and indirect subsidiaries, conducts the Company’s business. Fluence Energy, LLC is a variable interest entity, of which the Company beneficially owns a 31.6% interest as of December 31, 2021. For accounting purposes, Fluence Energy, Inc. is considered the primary beneficiary and therefore consolidates the results of Fluence Energy, LLC. Prior to the IPO, Fluence Energy, Inc. had no operations and had no asset or liabilities. Accordingly, financial results, balances, and other information included herein for periods prior to the IPO are reflective of Fluence Energy, LLC.

The accompanying condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and under the rules of the Securities and Exchange Commission (SEC). The accompanying condensed consolidated financial statements include the accounts of Fluence Energy Inc. and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Non-controlling Interest

Unaudited Interim Financial Information

The accompanying condensed consolidated financial statements as of December 31, 2021, and for the three months ended December 31, 2021 and 2020 are unaudited. These financial statements should be read in conjunction with the Company’s audited financial statements included in our Annual Report on Form 10-K for the year ended September 30, 2021 (“ 2021 Annual Report”). In our opinion, they reflect all adjustments, including normal recurring items, that are necessary for the fair statement of the Company’s financial position as of December 31, 2021 and the results of its operations and its cash flows for the three months ended December 31, 2021 and 2020. The financial data and other information disclosed in these notes related to the three months ended December 31, 2021 and 2020 are also unaudited. The results for the three months ended December 31, 2021 and 2020 are not necessarily indicative of results for the full year ending September 30, 2022 and 2021, any other interim periods, or any future year or period. The balance sheet as of September 30, 2021 included herein was derived from the audited financial statements as of that date. Certain disclosures have been condensed or omitted from the interim financial statements.

For a complete description of our significant accounting policies, refer to Note 2-Summary of Significant Accounting Policies and Estimates on our 2021 Annual Report. We include herein certain updates to those policies.

Reclassification

Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on-hand and highly liquid investments readily convertible to cash, with an original maturity of 90 days or less when purchased.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash as shown in the Company’s condensed consolidated statements of cash flows:


	December 31,
in thousands	2021		2020
Cash and cash equivalents	$	632,143	$	37,572
Restricted cash included in “Other current assets”	39,506		1,248
Restricted cash included in “Other non- current assets”	7,766		—
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$	679,415	$	38,820

Restricted cash included in “Other current assets” on the condensed consolidated balance sheets as of December 31, 2021 and 2020 consists of $0.9 million and $0.9 million collateral for credit card program, respectively, and $38.6 million and $0.3 million of collateral for outstanding bank guarantee, respectively. Restricted cash included in “Other non-current assets” as of December 31, 2021 was related to the collateral for outstanding bank guarantee.

Fair Value Measurements

Loss per Share

All earnings prior to and up to November 1, 2021, the date of completion of the IPO, were entirely allocable to non-controlling interest and, as a result, loss per share information is not applicable for reporting periods prior to this date. Consequently, only the net loss allocable to Fluence Energy, Inc. from the period subsequent to November 1, 2021 is included in the net loss attributable to the stockholders of Class A Common Stock for the three months ended December 31, 2021. Basic and diluted net loss per share of Class A Common Stock from November 1, 2021 to December 31, 2021 have been computed as follows:


In thousands, except share and per share amounts
Net Loss for the three months ended December 31, 2021	(111,460)

Less: Net loss attributable to the non-controlling interest	(82,655)
Net loss attributable to Fluence Energy, Inc.	$	(28,805)

Weighted average number of Class A common shares outstanding, basic and diluted	54,143,275
Loss per share of Class A common stock, basic and diluted	$	(0.53)

Recent Accounting Standards Adopted

No new accounting standards were adopted during the three months ended December 31, 2021.

Recent Accounting Standards Not Yet Adopted

The following table presents accounting standards not yet adopted:


Standard	Description	Required date of adoption	Effect on the financial statements and other significant matters
ASU 2016-02, Leases (Topic 842)	In February 2016, the FASB issued ASU 2016-02, which supersedes existing guidance on accounting for leases in ASC 840, Leases. This standard requires all leases to be recognized on the consolidated balance sheet. The FASB has issued several amendments to ASU 2016-02, including ASU 2018-11, Leases (Topic 842): Targeted Improvements that introduced an additional transition method permitting an entity to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. ASU 2016-02 includes optional practical expedients intended to reduce the cost and complexity to implement the new lease standard, such as an option to maintain the current lease classification for all existing lease arrangements and the option to use hindsight in evaluating lessee options to extend or terminate a lease. Early application is permitted.	As an emerging growth company, the Company is permitted to defer adoption until the non-public company adoption date, i.e., annual periods starting after December 15, 2021.	The Company’s existing lease population is mainly comprised of operating leases for office space. The Company is currently evaluating the impact of adoption on its consolidated financial statements.


Standard	Description	Required date of adoption	Effect on the financial statements and other significant matters
ASU 2016-13, Financial Instruments—Credit Losses (Topic 326)	In February 2016, the FASB issued ASU 2016-13, which updates the impairment model for financial assets measured at amortized cost, known as the Current Expected Credit Loss (“CECL”) model. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that generally will result in the earlier recognition of allowance for losses. There are various transition methods available upon adoption. Early adoption is permitted.	As an EGC, the Company is permitted to defer adoption until the non-public company adoption date, i.e., annual periods starting after December 15, 2022.	The Company is currently evaluating the impact of adoption on its consolidated financial statements.
ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	In December 2019, the FASB issued ASU 2019-12, which removes certain exceptions related to the approach for intraperiod tax allocations, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. The guidance also clarifies and simplifies other areas of ASC 740. Certain amendments must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. Early adoption is permitted.	As an EGC, the Company is permitted to defer adoption until the non-public company adoption date, i.e., annual periods starting December 15, 2021, and for interim periods beginning after December 15, 2022.	The Company is currently evaluating the impact of adoption on its consolidated financial statements.
ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848)	In March 2020, the FASB issued ASU 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to transactions affected by reference rate (e.g., LIBOR) reform if certain criteria are met, for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting.	The ASU is effective as of March 12, 2020 through December 31, 2022.	The Company is currently evaluating transactions or contract modifications occurring as a result of reference rate reform and determining whether to apply the optional guidance on an ongoing basis. The ASU is currently not expected to have a material impact on our consolidated financial statements.

Related-Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	Aug. 11, 2021	Dec. 31, 2021	Sep. 30, 2021
Related Party Transaction [Line Items]
Borrowing from related parties		$ 0	$ 50,000
Provision for receivables from related parties		$ 0	$ 0
Affiliated Entity \| AES Grid Stability
Related Party Transaction [Line Items]
Borrowing from related parties	$ 25,000
Subordinated promissory note, annual interest percentage	2.86%
Affiliated Entity \| Siemens Industry
Related Party Transaction [Line Items]
Borrowing from related parties	$ 25,000
Subordinated promissory note, annual interest percentage	2.86%

Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Goodwill, Beginning of the period	$ 9,176	$ 4,731
Foreign currency adjustment	(9)	23
Acquisition related goodwill	0	4,449
Goodwill, End of the period	$ 9,167	$ 9,203

Label	Element	Value
AOCI Attributable to Parent [Member]
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	$ 175,000
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	39,000
Retained Earnings [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	(28,805,000)
Noncontrolling Interest [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	(20,317,000)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	(62,338,000)
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	$ 85,000

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Commitment and Contingencies (Details) - USD ($)	1 Months Ended	3 Months Ended
Commitment and Contingencies (Details) - USD ($)	Oct. 31, 2021	Dec. 31, 2021	Sep. 30, 2021	Apr. 28, 2021
Loss Contingencies [Line Items]
Advances on Inventory Purchases		$ 40,586,000	$ 9,741,000
Inventory valuation reserves		6,636,000	14,227,000
Inventory capacity guarantee
Loss Contingencies [Line Items]
Advance payment		60,000,000
Advances on Inventory Purchases		25,000,000
Advances on inventory purchases, noncurrent		35,000,000
2021 Cargo Loss Incident
Loss Contingencies [Line Items]
Potential losses related to reasonably possible material contingencies		15,000,000
Inventory valuation reserves			$ 13,000,000
Inventory valuation reserves, inventory write-down		11,500,000
Insurance proceeds expected				$ 10,000,000
Insurance proceed collected	$ 7,500,000	7,500,000
Minimum
Loss Contingencies [Line Items]
Potential losses related to reasonably possible material contingencies		0
Maximum
Loss Contingencies [Line Items]
Potential losses related to reasonably possible material contingencies		$ 5,000,000

Current Accruals and Provisions (Tables)

3 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Schedule of Current Accruals and Provisions

Current accruals and provisions consisted of the following:


In thousands	December 31, 2021		September 30, 2021
Accruals	$	178,990	$	155,963
Provisions for expected project losses	35,848		30,180

Total	$	214,838	$	186,143

Short-term Borrowing - Line of Credit (Details) - USD ($)		3 Months Ended
	Nov. 01, 2021	Dec. 31, 2021	Dec. 31, 2020	Oct. 31, 2021	Sep. 30, 2021
Line of Credit Facility [Line Items]
Repayment to line of credit		$ 50,000,000	$ 0
Citibank, N.A. \| Line of Credit \| Uncommitted Line Of Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing amount				$ 50,000,000
Weighted average annual interest rate					2.83%
Repayment to line of credit	$ 50,000,000
Outstanding borrowings					$ 50,000,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (PARENTHETICAL) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Trade receivable, allowance for credit loss	$ 88	$ 90
Mezzznine equity, shares issued (in shares)	0
Mezzanine equity, shares outstanding (in shares)		18,493,275
Preferred stock, par value (in usd per share)	$ 0.00001
Preferred stock, shares authorized (in shares)	10,000,000
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
Class A common stock
Common stock, par value (in usd per share)	$ 0.00001
Common stock, shares authorized (in shares)	1,200,000,000
Common stock, shares issued (in shares)	54,143,275
Common stock, shares outstanding (in shares)	54,143,275
Class B-1 common stock
Common stock, par value (in usd per share)	$ 0.00001
Common stock, shares authorized (in shares)	300,000,000
Common stock, shares issued (in shares)	117,173,390
Common stock, shares outstanding (in shares)	117,173,390
Class B-2 common stock
Common stock, par value (in usd per share)	$ 0.00001
Common stock, shares authorized (in shares)	300,000,000
Common stock, shares issued (in shares)	0
Common stock, shares outstanding (in shares)	0

Stock-Based Compensation - RSUS (Details) - RSUs	3 Months Ended
Stock-Based Compensation - RSUS (Details) - RSUs	Dec. 31, 2021 $ / shares shares
Number of Awards
Outstanding, Beginning balance (in shares) \| shares	0
Granted (in shares) \| shares	678,804
Forfeited (in shares) \| shares	(8,317)
Outstanding, Ending balance (in shares) \| shares	670,487
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value, Beginning balance (usd per share) \| $ / shares	$ 0
Granted, Weighted average grant date fair value (usd per share) \| $ / shares	36.11
Forfeited, Weighted average grant date fair value (usd per share) \| $ / shares	35.86
Outstanding, Weighted average grant date fair value, Ending balance (usd per share) \| $ / shares	$ 36.11

Summary of Significant Accounting Policies and Estimates - Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Oct. 31, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Loss per Share [Abstract]
Net loss	$ (20,317)	$ (91,143)	$ (111,460)	$ (12,496)
Less: Net loss attributable to the non-controlling interest			(82,655)	$ (12,496)
Net loss attributable to Fluence Energy, Inc.			$ (28,805)
Weighted average number of Class A common shares outstanding, basic (in shares)		54,143,275
Weighted average number of Class A common shares outstanding, diluted (in shares)		54,143,275
Loss per share of Class A common stock, basic (in usd per share)		$ (0.53)
Loss per share of Class A common stock, diluted (in usd per share)		$ (0.53)
Common Class B-1
Share-based Payment Arrangement [Abstract]
Antidilutive security		117,173,390
Options
Share-based Payment Arrangement [Abstract]
Antidilutive security		11,294,681
Phantom units
Share-based Payment Arrangement [Abstract]
Antidilutive security		2,170,541
RSUs
Share-based Payment Arrangement [Abstract]
Antidilutive security		670,487

Stock-Based Compensation

3 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

Stock-Based Compensation

2020 Equity Incentive Plans

In October 2020, the Board of Directors of Fluence Energy, LLC approved the 2020 Unit Option Plan (the “2020 Option Plan”) and the 2020 Phantom Equity Incentive Plan (the “2020 Phantom Plan”, and collectively with the 2020 Option Plan, the “2020 Plans”). The 2020 Plans authorized Fluence Energy, LLC to issue Class A-1 unit options and phantom units. Upon completion of the Transactions, all unit options granted pursuant to the 2020 Option Plan were converted into stock options in the Company and remain outstanding and continue to vest in accordance with their original terms. Awards issued under the 2020 Phantom Plan can be settled in cash, shares, or any other form of consideration deemed appropriate by the Board of Directors. No further awards are expected to be made under 2020 Plans.

2021 Incentive Award Plan

In connection with the IPO, the Company adopted the 2021 Incentive Award Plan (the “2021 Plan) to facilitate the grant of cash and equity incentives to directors, employees (including our named executive officers) and consultants of the company and certain of its affiliates to enable the company to obtain and retain services of these individuals, which we believe is essential to our long-term success. At inception, there were 9,500,000 shares of Class A common stock available for issuance under the 2021 Plan. During the three months ended December 31, 2021, the Company granted restricted stock units (“RSUs”) under the 2021 Plan to certain employees and directors.

Award Modifications

In October 2021, the Board of Directors issued resolutions to amend certain awards previously granted under the 2020 Plans, as described below. These amendments were treated as award modifications under ASC 718 Compensation - Stock Compensation during the three months ended December 31, 2021.

•In relation to awards previously granted to the Company’s former CEO, who served as a director of the Company through the date of the IPO, 1) accelerate to the IPO date the vesting of 102,082 phantom units that would have otherwise vested on the six-month anniversary of the consummation, and 2) accelerate to the IPO date the vesting of 112,439 unit options that would have otherwise vested on April 2, 2022 assuming continued service. The resolution stipulates that the awards subject to accelerated vesting shall be settled fully in cash, using the IPO price to calculate the settlement value. All other equity awards granted to the individual were concurrently cancelled. Stock compensation expense related to the modification was $5.7 million, which was recognized fully during the three months ended December 31, 2021.

•Amend the vesting of 893,589 phantom unit awards previously granted to the Company’s executive officers, which had been scheduled to fully vest on the six-month anniversary of the consummation of the IPO, such that 1/3 of the awards vest on the six-month anniversary of the consummation of the IPO, 1/3 on the eighteen-month anniversary, and 1/3 on the thirty-month anniversary, assuming continued service through each vesting date. Given that no changes were made to the first tranche of the awards, modification accounting was only applied to the second and third tranches of the awards, which totaled 595,728 phantom units. Stock compensation expense related to the modification was $16.7 million, which will be recognized over the vesting period of each tranche of the modified awards.

Stock Based Compensation Expense

Stock based compensation expense is included in “Cost of goods and services”, “Research and development”, “Sales and marketing” or “General and administrative” on the condensed consolidated statements of operations and comprehensive loss, based on the classification of the employee’s regular wages.

The Company recognizes the costs associated with granting stock based awards using a fair value-based measure in accordance with the requirements of ASC 718, Compensation - Stock Compensation. Management engaged a third-party valuation firm to assist in determining the fair value of awards granted under the 2020 Plans. The fair value of RSUs granted under the 2021 Plan are based on the price of our publicly traded common stock on the date of grant.

As of September 30, 2021, the Company determined that achievement of the performance conditions related to awards granted under the 2020 Plans was not probable and therefore, no expense was recognized for unit options or phantom units during the fiscal year ended September 30, 2021. The completion of the IPO on November 1, 2021 resulted in achievement of the performance condition underlying awards granted under the 2020 Plans. Accordingly previously unrecognized stock compensation expense was caught up during the three months ended December 31, 2021.

The following table presents stock based compensation expense by financial statement line item:


In thousands	Three Months Ended December 31,
	2021		2020
Cost of goods and services	$	3,528	$	—
Research and development	1,813		—
Sales and marketing	6,441		—
General and administrative	13,095		—
Total	$	24,877	$	—

Options

Unit options were granted with an exercise price equal to the fair value of Fluence Energy, LLC’s units at the date of grant. Unit option awards vest with the satisfaction of the following two criteria: (1) a service requirement of three years and (2) the occurrence of a liquidity event, such as a change in control or an initial public offering. The options expire 10 years following the grant date.

The following table presents information concerning the outstanding options granted by the Company:


	Number of Awards	Weighted-Average Exercise Price
Outstanding at inception of the Unit Option Plan	—	$	—
Granted	12,389,470	2.45
Forfeited	(466,908)	2.45
Outstanding as of September 30, 2021	11,922,562	$	2.45
Granted	—	—
Modified and settled in cash	(112,439)	2.45
Forfeited	(515,442)	2.45
Outstanding as of December 31, 2021	11,294,681	$	2.45

No options have been exercised through December 31, 2021 and no options are exercisable as of December 31, 2021. The weighted average grant date fair value for options granted during the year ended September 30, 2021 was $0.69. The fair value of options granted was calculated using a Black-Scholes option valuation model. The intrinsic value of options outstanding as of December 31, 2021 was $374.0 million. The weighted average remaining contractual term of options outstanding as of December 31, 2021 was 9.3 years.

Phantom Units

With the exception of the modified phantom units discussed above, all phantom units vest six months following the satisfaction of a performance condition, if the condition is met before the awards’ expiration date. The performance condition is satisfied upon the occurrence of a liquidity event, which was satisfied as the result of our IPO. Phantom units granted to foreign employees in certain countries will require cash settlement, and are classified as liability awards. See “Liability-Classified Awards” below. The remainder of the phantom units include a contingent cash settlement option outside the control of the holder and as such are classified as equity. The following table presents activity related to the equity-classified phantom unit awards:


	Number of Awards	Weighted Average Grant Date Fair Value
Outstanding at inception of the 2020 Incentive Plan	—	$	—
Granted	2,688,781	2.12
Forfeited	(399,887)	2.20
Outstanding as of September 30, 2021	2,288,894	$	2.11
Granted	—	—
Cancellation of modified awards	(595,728)	2.20
Re-grant of modified awards	595,728	28.00
Modified and settled in cash	(102,082)	2.20
Forfeited	(16,271)	2.20
Outstanding as of December 31, 2021	2,170,541	$	9.18

Liability-Classified Awards

The following table presents activity related to liability-classified phantom unit awards:


	Number of Awards	Weighted Average Grant Date Fair Value
Outstanding at inception of the 2020 Incentive Plan	—	$	—
Granted	465,275	2.41
Forfeited	(11,095)	2.45
Outstanding as of September 30, 2021	454,180	$	2.41
Granted	—	—
Forfeited	(48,821)	2.39
Outstanding as of December 31, 2021	405,359	$	2.42

The Company has recognized a liability of $15.2 million on its condensed consolidated balance sheets as of December 31, 2021 reflecting the fair value of the liability-classified awards, based on the Company’s stock price as of the last day of the period.

RSUs

During the three months ended December 31, 2021, the Company issued RSUs to certain employees and directors that vest over a period of 3 years. The following table presents activity related to RSUs:


	Number of Awards	Weighted Average Grant Date Fair Value
Outstanding as of September 30, 2021	—	$	—
Granted	678,804	36.11
Forfeited	(8,317)	35.86
Outstanding as of December 31, 2021	670,487	$	36.11

Unrecognized Stock Compensation Expense

The following table summarizes total unrecognized compensation expense related to stock based compensation as of December 31, 2021:


	Unrecognized Stock Compensation Expense (in thousands)		Weighted Average Remaining Period of Expense Recognition (in years)
Options	$	4,292	1.6
Phantom units	15,857		1.7
Liability-classified awards	4,144		0.3
RSUs	22,172		1.9
Total	$	46,465

Goodwill (Tables)

3 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents the goodwill activity:


In thousands	Three Months Ended December 31,
	2021		2020
Goodwill, Beginning of the period	$	9,176	$	4,731
Foreign currency adjustment	(9)		23
Acquisition related goodwill (a)	—		4,449
Goodwill, End of the period	$	9,167	$	9,203

(a) Refer to Note 4 - Business Combination for a further discussion of acquisition related goodwill.

Summary of Significant Accounting Policies and Estimates - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 632,143	$ 36,829	$ 37,572
Restricted cash included in “Other current assets”	39,506	1,240	1,248
Restricted cash included in “Other non- current assets”	7,766		0
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	679,415	$ 38,069	38,820	$ 95,051
Credit Card Program Collateral
Cash and Cash Equivalents [Line Items]
Restricted cash included in “Other current assets”	900		900
Outstanding Bank Guarantee Collateral
Cash and Cash Equivalents [Line Items]
Restricted cash included in “Other current assets”	$ 38,600		$ 300

Short-term Borrowing - Revolving Credit Facility (Details) - The Revolver - Line of Credit - JP Morgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., Bank of America, N.A., Barclays Bank PLC, and Five Other Banks		3 Months Ended
	Nov. 01, 2021 USD ($) bank qtr	Dec. 31, 2021 USD ($)
Line of Credit Facility [Line Items]
Outstanding borrowings		$ 0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing amount	$ 190,000,000
Number of other banks in lenders party \| bank	5
Commitment fee	0.55%
Period of requirement for commitment fee payments		4 years
Minimum liquidity and gross revenue requirement of consolidated EBITDA	$ 150,000,000
EBITDA threshold period \| qtr	4
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Interest rate	3.00%
Revolving Credit Facility \| Base Rate
Line of Credit Facility [Line Items]
Interest rate	2.00%
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing amount	$ 190,000,000
Letter of credit participation fee	2.75%

Income Taxes	3 Months Ended
Income Taxes	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s provision for income taxes is based on the estimated annual effective tax rate, plus discrete items. Income tax expense was $0.4 million and $0.7 million for the three months ended December 31, 2021 and 2020, respectively. The effective tax rate for the three months ended December 31, 2021 and 2020 was (0.3)% and (5.8)%, respectively. For the three months ended December 31, 2021, the Company’s effective tax rate differs from the U.S. statutory tax rate of 21% primarily due to flow-through losses incurred prior to the IPO on November 1, 2021, flow-through losses attributable to the Founders, and valuation allowances. For the three months ended December 31, 2020, the Company’s effective tax rate differs from the U.S. statutory tax rate of 21% primarily due to flow-through losses and valuation allowances. The Company does not believe it has any significant uncertain tax positions and therefore has no unrecognized tax benefits as of December 31, 2021 and September 30, 2021, that if recognized, would affect the annual effective tax rate. As of December 31, 2021 and September 30, 2021, the Company had recorded a full valuation allowance against deferred tax assets of its German and Australian subsidiaries. Upon the IPO on November 1, 2021, Fluence Energy, Inc. became a holding company of Fluence Energy, LLC, and as a corporation, recorded deferred tax assets primarily related to its investment in the partnership. The Company determined that based on the weight of available evidence, including cumulative losses, it is more-likely-than-not that the net deferred tax assets of Fluence Energy, Inc. and Fluence Energy, LLC’s subsidiaries in Germany and Australian will not be realized and valuation allowances have been recorded against such deferred tax assets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENISVE LOSS (UNAUDITED) (Parenthetical) - USD ($)	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Foreign currency translation gain (loss), income tax (expense) benefit	$ 0	$ 0