0001868941-22-000120 | 10-K | XBRL Viewer

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Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Sep. 30, 2022	Dec. 11, 2022	Mar. 31, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-40978
Entity Registrant Name	Fluence Energy, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1304612
Entity Address, Address Line One	4601 Fairfax Drive,
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Arlington,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22203
City Area Code	(833)
Local Phone Number	358-3623
Title of 12(b) Security	Class A common stock, $0.00001 par value
Trading Symbol	FLNC
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Documents Incorporated by Reference	Portions of the registrant’s Definitive Proxy Statement relating to the Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended September 30, 2022.
Entity Public Float			$ 467.2
Entity Central Index Key	0001868941
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		115,865,811
Common Class B-1
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		58,586,695

Audit Information	12 Months Ended
Audit Information	Sep. 30, 2022
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Tysons, VA
Auditor Firm ID	42

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Current assets:
Cash and cash equivalents	$ 357,296	$ 36,829
Restricted cash	62,425	1,240
Short-Term Investments	110,355	0
Trade receivables	86,770	57,419
Unbilled receivables	138,525	101,975
Receivables from related parties	112,027	33,362
Advances to suppliers	54,765	9,741
Inventory, net	652,735	389,787
Other current assets	26,635	31,162
Total current assets	1,601,533	661,515
Non-current assets:
Property and equipment, net	13,755	8,206
Operating lease right of use assets	2,403	0
Intangible assets, net	51,696	36,057
Goodwill	24,851	9,176
Deferred income tax asset, net	3,028	1,184
Advances to suppliers	8,750	0
Debt issuance cost	2,818	222
Other non-current assets	36,820	1,315
Total non-current assets	144,121	56,160
Total assets	1,745,654	717,675
Current liabilities:
Accounts payable	304,898	158,366
Deferred revenue	273,073	71,365
Borrowing from line of credit	0	50,000
Borrowing from related parties	0	50,000
Personnel related liabilities	21,286	12,861
Accruals and provisions	183,814	186,143
Payables and deferred revenue with related parties	306,348	227,925
Taxes payable	11,114	12,892
Current portion of operating lease liabilities	1,732	0
Other current liabilities	7,198	1,941
Total current liabilities	1,109,463	771,493
Non-current liabilities:
Operating lease liabilities, net of current portion	1,011	0
Deferred income tax liability	4,876	0
Other non-current liabilities	1,096	2,381
Total non-current liabilities	6,983	2,381
Total liabilities	1,116,446	773,874
Commitments and Contingencies
Mezzanine equity (0 and 18,493,275 Class B units issued and outstanding as of September 30, 2022 and 2021, respectively)	0	117,235
Stockholders’ Equity/Members’ equity (deficit):
Members’ capital contributions (0 and 117,173,390 Class A units issued and outstanding as of September 30, 2022 and 2021, respectively)	0	106,152
Preferred stock, $0.00001 per share, 10,000,000 share authorized; no shares issued and outstanding as of September 30, 2022 and 2021	0
Treasury stock, at cost	(5,013)
Additional paid-in capital	542,602
Accumulated other comprehensive (loss) income	2,784	(285)
Accumulated deficit	(104,544)	(279,301)
Total stockholders' equity attributable to Fluence Energy Inc	435,830
Total stockholders' equity attributable to Members' deficit		(173,434)
Non-controlling interest	193,378
Total stockholders' equity	629,208
Total liabilities, stockholders’ equity, mezzanine equity, and members’ equity (deficit)	1,745,654	$ 717,675
Common Class A
Stockholders’ Equity/Members’ equity (deficit):
Common stock	1
Class B-1 common stock
Stockholders’ Equity/Members’ equity (deficit):
Common stock	0
Class B-2 common stock
Stockholders’ Equity/Members’ equity (deficit):
Common stock	$ 0

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares	Sep. 30, 2022	Sep. 30, 2021
Mezzanine equity, shares issued (in shares)	0	18,493,275
Mezzanine equity, shares outstanding (in shares)	0	18,493,275
Member's capital contributions, issued (in units)		117,173,390
Member's capital contributions, outstanding (in units)	0	117,173,390
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	0
Preferred stock, shares outstanding (in shares)	0	0
Common Class A
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)	115,424,025	0
Common stock, shares outstanding (in shares)	114,873,121	0
Class B-1 common stock
Common stock, par value (in usd per share)	$ 0.00001
Common stock, shares authorized (in shares)	200,000,000
Common stock, shares issued (in shares)	58,586,695	0
Common stock, shares outstanding (in shares)	58,586,695	0
Class B-2 common stock
Common stock, par value (in usd per share)	$ 0.00001
Common stock, shares authorized (in shares)	200,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Total Revenue	$ 1,198,603	$ 680,766	$ 561,323
Cost of goods and services	1,260,957	749,910	553,400
Gross (loss) profit	(62,354)	(69,144)	7,923
Operating expenses:
Research and development	60,142	23,427	11,535
Sales and marketing	37,207	22,624	16,239
General and administrative	116,710	38,162	17,940
Depreciation and amortization	7,108	5,112	3,018
Interest expense	2,018	1,435	128
Other (expenses) income, net	(2,281)	(270)	648
Loss before income taxes	(287,820)	(160,174)	(40,289)
Income tax expense	1,357	1,829	6,421
Net loss	(289,177)	(162,003)	(46,710)
Net Loss attributable to non-controlling interest	(184,692)	(162,003)	(46,710)
Net loss attributable to Fluence Energy, Inc.	$ (104,485)
Weighted average number of Class A common shares outstanding
Weighted average number of Class A common shares outstanding, basic (in shares)	69,714,054
Weighted average number of Class A common shares outstanding, diluted (in shares)	69,714,054
Loss per share of Class A common stock
Loss per share of Class A common stock, basic (in usd per share)	$ (1.50)
Loss per share of Class A common stock, diluted (in usd per share)	$ (1.50)
Foreign currency translation (loss) gain, net of income tax benefit (expense) of $0.1 million in 2022, and $0 in 2021 and 2020	$ 5,091	(614)	1,270
Actuarial gain (loss) on pension liabilities, net of income tax (expense) benefit of $0 in each period	251	128	210
Total other comprehensive (loss) income	5,342	(486)	1,480
Total comprehensive loss	(283,835)	(162,489)	(45,230)
Comprehensive loss attributable to non-controlling interest	(182,345)	(162,489)	(45,230)
Total comprehensive loss attributable to Fluence Energy, Inc.	(101,490)
Consolidated Entities, Excluding Affiliated Entities
Total Revenue	552,271	594,055	401,676
Affiliated Entity
Total Revenue	$ 646,332	$ 86,711	$ 159,647

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENISVE LOSS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Foreign currency translation gain (loss), income tax benefit (expense)	$ 0.1	$ 0.0	$ 0.0
Actuarial gain (loss), income tax (expense) benefit	$ 0.0	$ 0.0	$ 0.0

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY, MEMBERS' EQUITY (DEFICIT), AND MEZZANINE EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Class A	Members’ capital contributions	Common Stock Class A	Common Stock Class B	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Non-Controlling interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, LLC	$ 25,505			$ 97,372				$ (1,279)	$ (70,588)
Beginning balance, LLC (in units) at Sep. 30, 2019				117,173,390
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contribution	2,500			$ 2,500
Net loss	(46,710)								(46,710)
Other comprehensive income prior to the Transactions, net of income tax	1,480							1,480	0
Ending Balance, LLC at Sep. 30, 2020	(17,225)			$ 99,872				201	(117,298)
Ending balance, LLC (in units) at Sep. 30, 2020				117,173,390
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, LLC	$ (17,225)			$ 99,872				201	(117,298)
Issuance of class B-1 membership units, net (in shares)	18,493,275
Issuance of class B membership units, net	$ 117,235
Ending balance (in shares) at Sep. 30, 2021	18,493,275
Ending balance at Sep. 30, 2021	$ 117,235
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contribution	6,280			6,280
Net loss	(162,003)								(162,003)
Other comprehensive income prior to the Transactions, net of income tax	(486)							(486)	0
Ending balance (in shares) at Sep. 30, 2021			0
Ending balance at Sep. 30, 2021		$ (59)								$ (59)
Ending Balance, LLC at Sep. 30, 2021	$ (173,434)			$ 106,152			$ 0	(285)	(279,301)			$ 0
Ending balance, LLC (in units) at Sep. 30, 2021	117,173,390			117,173,390
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, LLC	$ (173,434)			$ 106,152			0	(285)	(279,301)			0
Effect of the Transactions related to the IPO	$ (117,235)
Ending balance (in shares) at Sep. 30, 2022	0
Ending balance at Sep. 30, 2022	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(289,177)
Other comprehensive income prior to the Transactions, net of income tax	5,342
Effect of the Transactions (in shares)					18,493,275
Effect of the Transactions related to the IPO	117,234			$ 106,152			(24,091)	75	279,301			(31,899)
Issuance of Class A Common stock in IPO, net of issuance costs (in shares)					35,650,000
Issuance of Class A common stock in IPO, net of issuance costs	935,761						295,740					640,021
Founders stock issuance (in shares)						117,173,390
Founders stock issuance	1					$ 1
Stock-based compensation expense and related vesting (in shares)					1,427,662
Stock-based compensation expense and related vesting	35,450						35,450
Repurchase of common stock placed into treasury (in shares)					(550,904)						(550,904)
Repurchase of Class A common stock placed into Treasury	(5,013)										$ (5,013)
Effect of Siemens redemption of Class B-1 common stock for class A common stock (in shares)					(58,586,695)	(58,586,695)
Effect of Siemens Industry redemption of class B-1 common stock for class A common stock					$ 1	$ (1)	227,699					(227,699)
Effect of remeasurement of non-controlling interest due to other share transactions	0						4,701					(4,701)
Proceeds from exercise of stock options (in shares)					1,266,393
Proceeds from exercise of stock options	3,103						3,103
Ending balance (in shares) at Sep. 30, 2022			114,873,121		114,873,121	58,586,695
Ending balance, Treasury Stock (in shares) at Sep. 30, 2022											550,904
Ending balance at Sep. 30, 2022	$ 629,208				$ 1	$ 0	$ 542,602	$ 2,784	$ (104,544)		$ (5,013)	$ 193,378
Ending balance, LLC (in units) at Sep. 30, 2022	0

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY, MEMBERS' EQUITY (DEFICIT), AND MEZZANINE EQUITY (Parenthetical) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Oct. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Other comprehensive loss, tax	$ 0	$ 100	$ 0	$ 0

- Definition

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

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+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss	$ (289,177)	$ (162,003)	$ (46,710)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	7,108	5,112	3,018
Amortization of debt issuance costs	778	0	0
Inventory provision	2,529	14,197	0
Stock-based compensation expense	44,131	0
Deferred income taxes	516	(1,346)	1,900
Provision (benefit) on loss contracts	30,032	27,161	(2,946)
Changes in operating assets and liabilities:
Trade receivables	(29,161)	(25,322)	(25,149)
Unbilled receivables	(36,550)	(1,938)	(90,333)
Receivables from related parties	(78,666)	15,901	(45,781)
Advances to suppliers	(45,024)	(6,865)	1,160
Inventory	(265,477)	(366,674)	(26,626)
Other current assets	1,364	(21,614)	(4,420)
Other non-current assets	(35,208)	(1,184)	2,468
Accounts payable	152,467	73,914	63,086
Payables and deferred revenue with related parties	78,422	205,461	(41,147)
Deferred revenue	201,028	(52,476)	70,861
Current accruals and provisions	(32,361)	21,286	122,840
Taxes payable	(1,779)	6,955	762
Other current liabilities	6,362	4,632	4,069
Other non-current liabilities	(3,719)	(466)	(1,068)
Insurance proceeds received	10,000	0	0
Net cash (used in) provided by operating activities	(282,385)	(265,269)	(14,016)
Investing activities
Purchase of equity securities	(1,124)	0	0
Purchase of short-term investments	(110,144)	0	20,000
Payments for acquisition of businesses, net of cash acquired	(29,215)	(18,000)	0
Purchase of property and equipment	(7,934)	(4,292)	(1,780)
Net cash (used in) provided by investing activities	(148,417)	(22,292)	18,220
Financing activities
Capital contribution from founders	0	6,280	2,500
Proceeds from issuance of Class B membership units	0	125,000	0
Borrowing from promissory notes – related parties	0	125,000	0
Repayment of promissory notes – related parties	(50,000)	(75,000)	0
Borrowing from line of credit	0	100,000	14,500
Repayment of line of credit	(50,000)	(50,000)	(14,500)
Payment of equity issuance costs	0	(3,343)	0
Repurchase of Class A common stock placed into treasury	(5,013)	0	0
Proceeds from exercise of stock options	3,103	0	0
Payment of transaction costs related to issuance of Class B membership units	(6,320)	0	0
Payments of debt issuance costs	(3,375)	0	0
Proceeds from issuance of Class A common stock sold in an IPO, net of underwriting discounts and commissions	947,990	0	0
Payment of IPO costs	(12,229)	0	0
Payments of deferred equity issuance cost	(7,103)
Other	0	3,189	0
Net cash provided by financing activities	817,053	231,126	2,500
Effect of exchange rate changes on cash and cash equivalents	5,401	(547)	1,327
Net (decrease) increase in cash and cash equivalents	391,652	(56,982)	8,031
Cash, cash equivalents, and restricted cash as of the beginning of the period	38,069	95,051	87,020
Cash, cash equivalents, and restricted cash as of the end of the period	429,721	38,069	95,051
Supplemental disclosure of cash flow information
Interest paid	1,127	1,229	0
Cash paid for income taxes	$ 2,068	$ 6,416	$ 2,197

Organization and Operations	12 Months Ended
Organization and Operations	Sep. 30, 2022
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 Annual Report on Form 10-K (this “Report”). Upon the completion of our IPO on November 1, 2021, Fluence Energy, Inc. became a holding company whose sole material assets are the LLC Interests in Fluence Energy LLC. All of our business is conducted through Fluence Energy, LLC, together with its subsidiaries, and the financial results of Fluence Energy, LLC will be consolidated in our financial statements. Fluence Energy LLC is taxed as a partnership for federal income tax purposes and, as a result, its members, including Fluence Energy, Inc. will pay income taxes with respect to their allocable shares of its net taxable income. As of September 30, 2022, Fluence Energy, LLC had subsidiaries including Fluence Energy GmbH in Germany, Fluence Energy Pty Ltd. in Australia, Fluence Energy Inc. in the Philippines, Fluence Energy Chile SpA in Chile, Fluence Energy B.V. in Netherlands, Fluence Energy Global Production Operation LLC in the US, Fluence BESS India Private Ltd in India, Nispera AG in Switzerland, and other subsidiaries yet to commence operations. Except where the content clearly indicates otherwise, reference to “Fluence,” “we,” “us,” “our” or “the Company” refers to Fluence Energy, Inc. and all of its direct and indirect subsidiaries, including Fluence Energy, LLC. When used in a historical context that is prior to the completion of the IPO, “we,” “us,” “our” or “the Company” refer to Fluence Energy, LLC and its subsidiaries. Our fiscal year begins on October 1 and ends on September 30. References to “fiscal year 2020”, “fiscal year 2021” and “fiscal year 2022” refer to the fiscal years ended September 30, 2020, September 30, 2021 and September 30, 2022, respectively. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. The Company’s CODM reviews financial information on a 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 in 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 and in exchange, 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 part of the transactions related to our initial public offering closed on November 1, 2021, QFH elected to convert their Class B units to the common stock of Fluence Energy, Inc., which was a conversion available to all of the holders of Fluence Energy, LLC Class A and Class B units. Accordingly, as of September 30, 2022, no mezzanine equity is recorded on the consolidated balance sheets. Initial Public Offering and Related Transactions On November 1, 2021, the Company completed an initial public offering (the “IPO”) and a series of organization transactions (collectively with the IPO, the “Transactions”), in which the Company issued and sold 35,650,000 shares of its Class A common stock, par value $0.00001 per share (the “Class A common stock”), 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 Class A common stock. The net proceeds to the Company from the IPO were $935.8 million, after deducting underwriting discounts and offering expenses paid by the Company. Immediately following the consummation of the Transactions: •Fluence Energy, Inc. became a holding company. As the sole managing member of Fluence Energy, LLC, Fluence Energy, Inc. controls the business and affairs of Fluence Energy, LLC and its direct and indirect subsidiaries; •Fluence Energy, Inc. owned, directly or indirectly, 54,143,275 limited liability company interests in Fluence Energy, LLC (the “LLC Interests”), representing approximately 31.6% of the economic interest in Fluence Energy, LLC; •the Founders owned 117,173,390 LLC Interests in Fluence Energy, LLC, representing approximately 68.4% of the economic interest in Fluence Energy, LLC; •the investors in our IPO owned 35,650,000 shares of Class A common stock of Fluence Energy, Inc., representing approximately 65.8% of the economic interest in Fluence Energy, Inc.; •Qatar Holding LLC, the owner of the original Blocker Company, owned 18,493,275 shares of Class A common stock of Fluence Energy, Inc., representing approximately 34.2% of the economic interest in Fluence Energy, Inc.; and •the Founders owned 117,173,390 shares of Class B-1 common stock of Fluence Energy, Inc. Siemens Industry Redemption On June 30, 2022, Siemens Industry, Inc. exercised its redemption right pursuant to the terms of the Third Amended and Restated Limited Liability Company Agreement of Fluence Energy, LLC (the “LLC Agreement”) with respect to its entire holding of 58,586,695 LLC Interests of Fluence Energy, LLC, together with the corresponding cancellation of an equivalent number of shares of Class B-1 common stock of Fluence Energy, Inc., par value $0.00001 per share (the “Redemption”). The Company elected to settle the Redemption through the issuance of 58,586,695 shares of the Company’s Class A common stock (the “Shares”). The Redemption settled on July 7, 2022. The Redemption increased the beneficial ownership interest of the Company in Fluence Energy, LLC to 66.08% as of June 30, 2022. The impact of the change in ownership interest did not result in a change in control. The Redemption been accounted for as an equity transaction and the carrying amount of non-controlling interest has been adjusted. Refer to Consolidated statements of changes in stockholders’ equity, members’ equity (deficit) and mezzanine equity included herein.

Summary of Significant Accounting Policies and Estimates

12 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Significant Accounting Policies and Estimates

Principles of Accounting and Consolidation

The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and under the rules of the U.S. Securities and Exchange Commission (the “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

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 Fluence Energy, Inc. beneficially owns a 66.22% interest as of September 30, 2022. For accounting purposes, Fluence Energy, Inc. is considered the primary beneficiary and therefore consolidates the results of Fluence Energy, LLC and its direct and indirect subsidiaries. Prior to the IPO, Fluence Energy, Inc. had no operations and had no assets or liabilities. Accordingly, financial results, balances, and other information included herein for periods prior to the IPO are reflective of Fluence Energy, LLC.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. Items subject to such estimates and assumptions include: the valuation of acquired and assumed liabilities for business acquired, the relative fair value allocations to contingencies with multiple elements, the carrying amount and estimated useful lives of long-lived assets; impairment of goodwill, intangible assets, and long-lived assets; valuation allowances for inventories; deferred tax assets; revenue recognized under the percentage-of-completion method; accrued bonuses; and various project related provisions including but not limited to estimated losses, warranty obligations, and liquidated damages.

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. If the purpose of restricted cash relates to acquiring a long-term asset, liquidating a long-term liability, or is otherwise unavailable for a period longer than one year from the balance sheet date, the restricted cash is included in other long-term assets. Otherwise, restricted cash is included as a separate line item on the Company’s consolidated balance sheets.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash as shown in the Company’s consolidated balance sheets.


in thousands	September 30, 2022		September 30, 2021
Cash and cash equivalents	$	357,296	$	36,829
Restricted cash	62,425		1,240
Restricted cash included in “Other non-current assets”	$	10,000	$	—
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$	429,721	$	38,069

Restricted cash consisted of the following:


in thousands	September 30, 2022		September 30, 2021
Collateral for credit card program	$	1,580	$	917
Collateral for outstanding bank guarantees	60,845		323
Collateral for surety program included in “Other non-current assets”	10,000		—
Total restricted cash	$	72,425	$	1,240

Receivables

The timing of revenue recognition, billings and collections results in trade receivables, unbilled receivables and contract liabilities on our Consolidated Balance Sheet. Trade receivables represent actual billings that are generally due within 30 days from the invoice date, and do not bear interest. Unbilled receivables represent the excess of revenues recognized over billings to date on certain contracts. Receivables are carried at amounts billed, less any reserves for credit losses, if any. The Company periodically assesses collectability of accounts receivable and records an expected credit loss for the estimated uncollectible amount when deemed appropriate. As of September 30, 2022 and 2021, allowance for doubtful accounts was insignificant.

Advances are given to suppliers based on the contract terms of respective agreements and are presented on a separate line on the consolidated balance sheets. These advances are recovered through the receipt of goods and services mainly used in the production of battery-based energy storage products.

Leases

The Company leases offices, land, warehouses, and equipment. Leases are categorized at their commencement date and lease-related assets and liabilities are recognized for all leases with an initial term of 12 months or greater. The Company evaluates renewal options at commencement and on an ongoing basis and includes options that are reasonably certain to exercise in its expected lease terms when classifying leases and measuring lease liabilities. The Company’s incremental borrowing rate is used to determine the present value of the lease payments over the lease term for leases, as these leases typically do not have a stated borrowing rate. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Effective October 1, 2021, the Company adopted ASU 2016-02, Leases ("ASC 842"), including the subsequent ASU's that amended and clarified the related guidance. Prior to the adoption of ASC 842, the Company accounted for leases under ASC 840 and recognized rent expense on a straight-line basis over the course of the lease term, which included any reasonably assured renewal periods, beginning on the date the Company took physical possession of the property. The Company adopted ASC 842 using a modified retrospective approach, and accordingly the new guidance was applied to leases that existed or were entered into after October 1, 2021 without adjusting the comparative periods presented. Please refer to Note 8 - Leases for a discussion of our updated policies and disclosures related to leases.

Foreign Currency Transactions

An entity’s functional currency is the currency of the primary economic environment in which the entity operates and is generally the currency in which the entity generates and expends cash. The reporting currency of the Company is the U.S. dollar. For all Fluence subsidiary entities whose functional currency is not in U.S. Dollar, the balance sheet and income statement are translated into US Dollar using the ending balance sheet rate and weighted average rate, respectively. Translation adjustments are included as a separate component on the consolidated statement of comprehensive income (loss), and in “Effect of exchange rate changes on cash and cash equivalents” on the consolidated statement of cash flows.

Business Combinations

A business combination is an acquisition of a business from an entity not under common control and is accounted for using the acquisition method. Identifiable assets acquired and liabilities assumed are recognized at fair value on the acquisition date. Goodwill is calculated as the excess of the fair value of the consideration transferred over the fair value of the net assets recognized and represents the future economic benefits arising from the other net assets acquired that could not be individually identified and separately recognized. Fair value measurements may require us to make significant estimates and assumptions. A measurement period, which could be up to one year from the date of the acquisition, exists to identify and measure the assets acquired and liabilities assumed. During the measurement period, provisional amounts may be recognized, and those amounts may subsequently be prospectively adjusted to reflect any new information about facts and circumstances that existed at the acquisition date that, if known, would have affected the measurement of these amounts. At the end of the measurement period, any subsequent changes would not be recognized under the acquisition method but would instead follow other accounting principles, which would generally impact earnings.

Revenue and Cost Recognition

The Company’s revenue recognition policy included herein is based on the application of ASC 606. As of September 30, 2022, the Company’s revenue was generated primarily from sale of energy storage products, providing operational services, and digital applications and solutions.

Revenue from Sale of Energy Storage Products: The Company enters into contracts with utility companies, developers, and commercial and industrial customers to design and build battery-based energy storage products. Each storage product is customized depending on the customer’s energy needs. Customer payments are due upon meeting certain milestones that are consistent with contract-specific phases of a project. The Company determines the transaction price based on the consideration expected to be received which includes estimates of liquidated damages or other variable consideration that are included in the transaction price in accordance with ASC 606. We assess any variable consideration using an expected value method. The transaction price identified is allocated to each distinct performance obligation to deliver a good or service based on the relative standalone selling prices. Generally, the Company’s contracts to design and build battery-based storage products are determined to have one performance obligation. The Company believes that the prices negotiated with each individual customer are representative of the stand-alone selling price of the product.

The Company recognizes revenue over time as a result of the continuous transfer of control of our product to the customer. This continuous transfer of control to the customer is supported by clauses in the contracts that provide enforceable rights to payment of the transaction price associated with work performed to date for products that do not have an alternative use to the Company and/or the project is built on customer’s land that is under the customer’s control.

Revenue for these performance obligations is recognized using the percentage of completion method based on cost incurred as a percentage of total estimated contract costs. Standard inventory materials that could be used interchangeably on other projects are included in our measure of progress when they are integrated into, or restricted to, the production of the customer’s project. Contract costs include all direct material and labor costs related to contract performance. Pre-contract costs with no future benefit are expensed in the period in which they are incurred. Since the revenue recognition of these contracts depends on estimates, which are assessed continually during the term of the contract, recognized revenues and profit are subject to revisions as the contract progresses to completion. The cumulative effects of revisions of estimated total contract costs and revenues, together with any contract reserves which may be deemed appropriate, are recorded in the period in which they occur. Due to the uncertainties inherent in the estimation process, it is reasonably possible that these estimates will be revised in a different period. When a loss is forecasted for a contract, the full amount of the anticipated loss is recognized in the period in which it is determined that a loss will occur. Refer to Loss Contracts below for further discussion.

Our contracts generally provide our customers the right to liquidated damages (“LDs”) against Fluence in the event specified milestones are not met on time, or equipment is not delivered according to contract specifications. LDs are accounted for as variable consideration, and the contract price is reduced by the expected penalty or LD amount when recognizing revenue. Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty is resolved. Estimating variable consideration requires certain estimates and assumptions, including whether and by how much a project will be delayed and/or will not meet performance contractual specifications. The existence and measurement of liquidated damages may also be impacted by our judgements about the probability of favorable outcomes of customer disputes involving whether certain events qualify as force majeure or the reason for the events that caused project delays. Variable consideration for liquidated damages is estimated using the expected value of the consideration to be received. If Fluence has a claim against the customer for amount not specified in the contract, such claim is recognized as an increase to contract price when it is legally enforceable, which is usually upon signing a respective change order or equivalent document confirming the claim acceptance by customer.

Revenue from Services: The Company also enters into long-term service agreements with customers to provide operational services related to battery-based energy storage products. The services include maintenance, monitoring, and other minor services. The Company accounts for the services as a single performance obligation as the services are substantially the same and have the same pattern of transfer to the customers. We recognize revenue overtime using a straight-line recognition method for these types of

services. The Company believes using a time-based method to measure progress is appropriate as the performance obligations are satisfied evenly over time based on the fact that customers receive the services evenly. Revenue is recognized by dividing the total transaction price over the service period.

Some of the agreements also provide a commitment to perform augmentation activities which would typically be represented by installation of additional batteries, and other components as needed, to compensate for partially lost capacity due to degradation of batteries over time. The obligation to perform augmentation activities can take the form of either maintaining battery capacity above a given threshold for a stated term while others provide a fixed number of augmentations over a contract term. Augmentation arrangements that require us to maintain battery capacity above an established thresholds for a given term are considered service-type warranties. These represent a stand-ready obligation in which the customer benefits evenly overtime, of which we recognize revenue for these arrangements using a straight-line recognition method. Alternatively, augmentation arrangements that require us to perform a fixed number of augmentations over a contract term follow the percentage of completion revenue recognition method. Since these arrangements require a fixed number of augmentations we must perform, we use the pattern of cost as a proxy to identify when our obligations are satisfied and to recognize revenue.

Revenue from Digital Applications and Solutions: In October 2020, Fluence Energy, LLC acquired the Advanced Microgrid Solutions (“AMS”) software and digital intelligence platform, which became the Fluence Trading Platform. In April 2022, the Company acquired Nispera AG, a Zurich based provider of artificial intelligence (AI) and machine learning-enabled Software-as-a-Service (SaaS) targeting the renewable energy sector. Contracts involving the Fluence Trading Platform are generally entered into with commercial entities that control utility-scale storage and renewable generation assets. Fluence Trading Platform arrangements consist of a promise to provide access to proprietary cloud-based Software-as-a-Service to promote enhanced financial returns on the utility-scale storage and renewable generation assets. The Fluence Trading Platform is a hosted service that delivers automated, market-compliant bids to local electricity market operators. Customers do not receive legal title or ownership of the software as a result of these arrangements.

The Fluence Trading Platform is technology- and vendor-agnostic (i.e., it can be utilized for wind and solar assets as well as non-Fluence systems). The Fluence Trading Platform is separately identifiable from other promises that the Company offers to its customers (i.e., it is not highly interrelated or integrated with other solutions). As such, we determined that the Fluence Trading Platform is accounted for as a separate performance obligation. Revenue from the Fluence Trading Platform includes an integration fee and a monthly subscription fee. We consider the access to the Fluence Trading Platform and related support services in a customer contract to be a series of distinct services which comprise a single performance obligation because they are substantially the same and have the same pattern of transfer. We recognize revenue over time using a straight-line recognition method.

For our sale of energy storage products, services, and digital applications and solutions contracts where there are multiple performance obligations in a single contract, the Company allocates the consideration to the various obligations in the contract based on the relative standalone selling price method. Standalone selling prices are estimated based on estimated costs plus margin. Revenue is recorded net of any taxes assessed on and collected from customers, which are remitted to the governmental authorities.

Cost of Goods and Services: Cost of goods and services consists primarily of product costs, including purchased materials and supplies, as well as costs related to shipping, customer support, product warranty and personnel. Personnel costs in cost of goods and services includes both direct labor costs as well as costs attributable to any individuals whose activities relate to the transformation of raw materials or component parts into finished goods or the transportation of materials to the customer. Cost of goods and services are recognized when services are performed, or control of goods are transferred to the customers, which is generally based upon International Commercial Terms (commonly referred to as ‘‘incoterms’’) stated in corresponding supply agreements or purchase orders. Standard inventory materials that could be used interchangeably on other projects are included in cost of goods sold when they are integrated into, or restricted to, the production of the customer’s project.

Deferred Revenue: Deferred revenue represents the excess billings to date over the amount of revenue recognized to date. Contract advances represent amounts received by the Company upon signing of the related contracts with customers. The advances are offset proportionately against progress billings. Any outstanding portion is included in deferred revenue on the accompanying consolidated balance sheets.

Loss Contracts: A contract becomes a loss contract when its estimated total costs are expected to exceed its total revenue. The Company accrues the full loss expected in the period a loss contract is identified which is recorded in “Current liabilities — Accruals and provisions” and “Cost of goods and services” on the Company’s consolidated balance sheets and consolidated statements of operations and comprehensive loss, respectively.

Inventory, Net

location and condition. The Company periodically reviews its inventory for potential obsolescence and write down of its inventory, as appropriate, to net realizable value based on its assessment of market conditions.

Impairment of Long-Lived Assets

The Company evaluates the recoverability of its property and equipment, and intangible assets whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. The assets are considered impaired when their future undiscounted cash flows are less than the carrying value and fair value is less than their carrying value. Impairment charges are calculated as the difference between the discounted expected future cash flows, or other accepted valuation techniques to determine fair value and the assets’ carrying amount at the date of the triggering event.

Intangible Assets

Intangible assets are stated at their historical cost and amortized on a straight-line basis over their expected useful lives. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.

Supply Chain Financing

We 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 September 30, 2022, AES and Siemens issued guarantees of $50 million each, for a total of $100 million, to the SCF Bank on our behalf.

As of September 30, 2022, three suppliers were actively participating in the supply chain financing program, and we had $37.4 million of payables outstanding subject to the program. All outstanding payments owed under the program are recorded within “Accounts payable” in our Consolidated Balance Sheets.

Accruals and Provisions

Expenses are recognized on an accrual basis. Provisions are recognized when it is probable that a liability has been incurred and the amount of liability could be reasonably estimated.

Operating Expenses

Operating expenses include research and development, sales and marketing, general and administrative expenses, and depreciation and amortization. Research and development expenses represent personnel costs of the technology team, and costs of materials and services procured for research and development projects. Sales and marketing expenses represent personnel costs of the sales team and all marketing expenses. General and administrative expenses represent personnel costs, rent, IT expenses insurance, and external providers for payroll, accounting, consulting, and others. Depreciation and amortization are expenses associated with property and equipment and intangible assets.

Advertising Costs

Advertising costs are expensed as incurred. Advertising expenses were $1.4 million, $0.8 million, and $0.7 million for the years ended September 30, 2022, 2021, and 2020, respectively.

(Loss) per Share

As of September 30, 2022, the Company has three classes of common stock, Class A, Class B-1 and Class B-2. Loss per share is calculated and reported under the “two-class” method. The “two-class” method is an earnings allocation method under which earnings (loss) per share is calculated for each class of common stock considering both distributions declared or accumulated and participation rights in undistributed earnings as if all such loss had been distributed during the period.

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. When a common unit of Fluence Energy, LLC is redeemed, at the Company’s election, for 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 58,586,695 shares of Class B-1 common stock, 8,923,121 outstanding stock options, 605,591 outstanding phantom units, and 2,156,893 outstanding restricted stock units as of September 30, 2022.

In October 2021, the existing limited liability company agreement of Fluence Energy, LLC was amended and restated which recapitalized all existing interests in the Company on the basis of a 14.79-for-1 split. All shares and per share information has been retroactively adjusted to give effect to the recapitalization for all periods presented, unless otherwise indicated.

All earnings or loss 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 twelve months ended September 30, 2022. Basic and diluted net loss per share of Class A common stock for the three and twelve months ended September 30, 2022, respectively, have been computed as follows:


In thousands, except share and per share amounts	Twelve Months Ended September 30, 2022
Numerator:
Net loss	$	(289,177)
Less: Net loss attributable to non-controlling interests	(184,692)
Net loss attributable to Fluence Energy, Inc.	$	(104,485)

Denominator:
Weighted average shares of Class A common stock - basic and diluted	69,714,054
Loss per share of Class A common stock - basic and diluted	$	(1.50)

Income Taxes

Fluence Energy, LLC is treated as a partnership for U.S. federal income tax purposes. As such, the members are individually liable for their own distributable share of taxable income or loss. After our IPO, we are now subject to U.S. federal and state income taxes with respect to our allocable share of any taxable income or loss of Fluence Energy, LLC, and we will be taxed at the prevailing corporate tax rates.

We will continue to be subject to foreign income taxes with respect to our foreign subsidiaries and our expectations are valuation allowances will be needed in certain tax jurisdictions. Foreign subsidiaries of the Company account for income taxes and the related accounts in accordance with ASC 740, Income Taxes. Under ASC 740, deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.

The Company recognizes the tax benefits from uncertain tax positions if it is more likely than not that the position will be sustained on examination by the taxing authorities. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense.

The preparation of income tax returns requires the use of management’s estimates and interpretations which may be subjected to review by the respective taxing authorities and may result in an assessment of additional taxes, penalties, and interest.

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. The carrying amounts of trade receivables, accounts payable and short-term debt obligations approximate fair values due to their short maturities.

Short-term Investments and Marketable Securities: We obtain pricing from level 1 inputs which includes information from quoted market prices, pricing vendors or quotes from brokers/dealers. We conduct reviews of our primary pricing vendors to determine whether the inputs used in the vendor’s pricing processes are deemed to be observable. The fair value of U.S. Treasury securities and government-related securities, corporate bonds and notes and common stock is generally determined using standard observable inputs, including reported trades, quoted market prices, matrix pricing, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets and/or benchmark securities. The Company recorded a gain of $0.2 million from short-term investments for the year ending September 30, 2022.


in thousands	Twelve Months Ended September 30, 2022
Beginning balance	$	—
Contributions / (withdrawals)	$	110,143
Changes in fair market value	$	212

Ending Balance	$	110,355

Reclassification

Certain prior year amounts have been reclassified to conform to current period presentation on the consolidated balance sheet and statement of cash flow. Sales and use taxes that are to be reimbursed to us by our customer of $10.8 million is now reflected within “Trade receivable”, as opposed to being presented within “Other current assets”.

Recent Accounting Standards Adopted

The following table presents accounting standards adopted in 2022:


Standard	Description	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. In June 2020, the FASB issued ASU 2020-05 delaying the effective date for nonpublic entities that had not already adopted the New Standard. Following this additional guidance, the New Standard is effective for annual periods in fiscal years beginning after December 15, 2021, and interim periods in fiscal years beginning after December 15, 2022.	October 1, 2021	The Company adopted the new leases standard utilizing the modified retrospective transition method, under which amounts in prior periods presented were not restated. For contracts existing at the time of adoption, the Company elected to not reassess (i) prior conclusions on whether existing arrangements contained a lease under ASC 840, (ii) lease classification, and (iii) initial direct costs. Upon adoption at October 1, 2021, the Company recorded $3.2 million of right-of-use (“ROU”) assets and $3.7 million of lease liabilities on its Consolidated Balance Sheet. The cumulative impact to retained earnings was insignificant.
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.	October 1, 2021	The adoption of the standard did not have a material impact on our 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.	July 1, 2022	The adoption of the standard had no impact on the Company’s consolidated financial statements.
ASU 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)	The amendments in this ASU clarify the interaction between the accounting for investments in equity securities, investment in equity method and certain derivatives instruments. The ASU is expected to reduce diversity in practice and increase comparability of the accounting for these interactions.	October 1, 2021	The adoption had no impact on the Company's consolidated financial statements.


ASU 2020-10, Codification Improvements	This ASU improves consistency by amending the Codification to include all disclosure guidance in the appropriate disclosure sections and clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology.	October 1, 2021	The adoption of the standard did not have a material impact on our financial statements.
ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers	The ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The standard should be applied prospectively to business combinations occurring on or after the effective date. The standard is effective for fiscal years beginning after December 15, 2022, with early adoption permitted.	October 1, 2021	The Company early adopted for fiscal 2022. The adoption had an immaterial impact to the Nispera acquisition in April 2022.

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
Accounting Standards Update (ASU) No. 2022-04: Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations	In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-04, "Disclosure of Supplier Finance Program Obligations" ("ASU 2022-04"). ASU 2022-04 requires entities to disclose the key terms of supplier finance programs they use in connection with the purchase of goods and services, along with the amount of obligations outstanding at the end of each period and an annual rollforward of such obligations. This standard does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations.	ASU 2022-04 is effective for the Company beginning in its fiscal year ending, September 30, 2024 ("Fiscal 2024") and is to be applied retrospectively to all periods in which a balance sheet is presented. The annual rollforward disclosure is not required to be made until its fiscal year ending September 30, 2025 ("Fiscal 2025") and is to be applied prospectively. Early adoption is permitted.	The Company is evaluating the impact that this guidance will have on disclosures related to its supplier finance program obligations.

Revenue from Contracts with Customers

12 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Disaggregation of revenue

The following table presents the Company’s revenues disaggregated by contract type:


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Revenue from sale of energy storage products	$	1,180,093	$	673,754	$	556,681
Revenue from services	15,912		5,706		3,773
Revenue from digital applications and solutions	2,472		952		—
Other	126		354		869
Total	$	1,198,603	$	680,766	$	561,323

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


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Americas (North, Central and South America)(a)	$	837,935	$	487,572	$	336,610
APAC (Asia Pacific)	178,233		134,874		192,679
EMEA (Europe, Middle-East and Africa)	182,435		58,320		32,034
Total	$	1,198,603	$	680,766	$	561,323

(a) Revenue from United states of America was $582.3 million, $468.4 million and $318.9 million for 2022, 2021 and 2020, respectively.

Customer and Supplier Concentration

For each of the fiscal years ended September 30, 2021 and 2020, the Company had three customers that each accounted for 10% or more of total revenue. For the fiscal year ended September 30, 2022, two customers accounted for 10% or more of total revenue.

For the fiscal year ended September 30, 2022, our top five customers, in the aggregate, accounted for approximately 77% of our revenue, and related parties accounted for approximately 54% of our revenue. For the fiscal year ended September 30, 2022, our top five customers, in the aggregate, accounted for approximately 61% of our remaining backlog.

The Company has three suppliers of battery modules, which is a major component of energy storage products, accounting for approximately 64%, 28% and 8% of battery module purchases in the fiscal year ended September 30, 2022, respectively.

The company primarily relied on one contract manufacturer in Asia to assemble our cube sub-assemblies for the year ended September 30, 2022.

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 consolidated balance sheets. The following table provides information about deferred revenue from contracts with customers:


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Deferred revenue beginning of period	$	71,365	$	123,841	$	52,980
Additions	269,883		69,289		120,852
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(68,175)		(121,765)		(49,991)
Deferred revenue end of period	$	273,073	$	71,365	$	123,841


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Deferred revenue from related parties beginning of period	$	220,122	$	11,425	$	60,968
Additions	300,577		212,344		10,464
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(220,002)		(3,647)		(60,007)
Deferred revenue from related parties end of period	$	300,697	$	220,122	$	11,425

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 September 30, 2022, the Company had $2,203.9 million of remaining performance obligations related to our contractual commitments, of which we expect to recognize 92% in revenue in the next five years and the remainder after five years.

Total remaining performance obligations related to our contractual commitments as of September 30, 2022:


in millions	As of September 30, 2022
2023-2027	$	2,029.3
Thereafter	174.6
Total remaining performance obligations	$	2,203.9

Costs to obtain a contract

The Company recognizes the incremental costs incurred to obtain or fulfill a contract with a customer as an asset when these costs are recoverable. These costs consist primarily of sales commissions. The amount was insignificant for fiscal year ended September 30, 2022 and 2021.

Variable consideration

As of September 30, 2022 and 2021, our transaction prices have been reduced to reflect variable consideration of $75.5 million and $52.8 million, respectively. Variable consideration primarily relates to our customers’ rights to liquidated damages in the event a specified milestone has not been met or equipment is not delivered to contract specifications. Variable consideration is estimated using the expected-value method which computes a weighted average amount based on a range of potential outcomes. In contracts in which a significant reversal may occur, we use constraint in recognizing revenue on variable consideration.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Business Combination

12 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Business Combination

During April 2022, the Company entered into a share sale purchase agreement and acquired all outstanding shares, the assets and assumed the liabilities of Nispera AG (“Nispera”), a Zurich based provider of artificial intelligence (AI) and machine learning-enabled software-as-a-service (SaaS) targeting the renewable energy sector. Nispera’s advanced technology helps customers monitor, analyze, forecast, and optimize the performance and value of renewable energy assets. The preliminary base purchase price for the acquisition was $33.4 million, of which $27.1 million was paid in cash to investors, $2.6 million was paid to debt holders at the purchase date, and $3.7 million will be paid to investors 18 months from date of purchase. In addition, Fluence issued 0.5 million shares of restricted stock to Nispera’s management team that vest ratably over three years for retention purposes and is accounted for as stock compensation The acquisition represents a business combination under ASC 805 Business Combinations. The Company has 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 preliminary aggregate fair values and estimated useful lives of the assets acquired and liabilities assumed, as of the date of the acquisition.


Fair Value of consideration transferred	$	33,445
Recognized amounts of identifiable assets and liabilities assumed:
Cash	489
Accounts receivables and other assets	189
Trademark (11 years life)	750
Developed technology (12 years life)	16,500
Customer relationships (6 years life)	3,500
Accounts payable and other liabilities	(386)
Deferred revenue	(679)
Deferred tax liabilities	(3,454)
Total net identifiable assets acquired and liabilities assumed	$	16,909
Goodwill	$	16,536

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 goodwill is not deductible for income tax purposes.

The valuation was complex due to the significant estimation uncertainty in certain assumptions used to determine the fair value of intangible assets acquired.

The allocation of fair value of purchase consideration was finalized in the fourth quarter of 2022, and there were no material changes to the fair value of assets acquired and liabilities assumed, as previously reported.

Inventory, Net

12 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Inventory, Net

Inventory consisted of the following:


in thousands	September 30, 2022						September 30, 2021
	Cost		Provision		Net		Cost		Provision		Net
Cubes, batteries, and other equipment (a)	$	653,059	$	(1,294)	$	651,765	$	402,157	$	(12,980)	$	389,177
Shipping containers and spare parts	982		(12)		970		1,857		(1,247)		610
Total	$	654,041	$	(1,306)	$	652,735	$	404,014	$	(14,227)	$	389,787

(a) Provision as of September 30, 2021 included $13.0 million loss recognized for inventory damaged in transit related to the 2021 cargo loss incident. Refer to Note 14 - Commitments and Contingencies for a detail discussion of the 2021 cargo loss incident.

Other Current Assets

12 Months Ended

Sep. 30, 2022

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

Other Current Assets

Other current assets consisted of the following amounts:


in thousands	September 30,
	2022		2021
Taxes recoverable	$	14,378	$	3,294
Receivable from insurance (a)	—		10,000
Deferred equity issuance costs	—		7,103
Advance payments	1,813		3,601
Prepaid expenses	2,095		2,480
Prepaid insurance	1,549		—

Derivative Asset	5,574		—
Other	1,226		4,684
Total	$	26,635	$	31,162

(a) Receivable from insurance of $10.0 million as of September 30, 2021 represents insurance recoveries that are probable of collection related to the 2021 cargo loss incident. Refer to Note 14 - Commitments and Contingencies for a detail discussion of the 2021 cargo loss incident.

(b) Derivative Assets relate to forward contracts used to mitigate foreign exchange risk exposure on customer projects, gains and losses on forward contracts are recorded to cost of goods and services.

Property and Equipment, Net

12 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment are stated at amortized cost and consisted of the following:


in thousands	September 30, 2022						September 30, 2021
	Cost		Accumulated Depreciation		Net		Cost		Accumulated Depreciation		Net
Machinery and Equipment	$	4,229	$	(1,426)	$	2,803	$	4,642	$	(976)	$	3,666
Construction in Progress	6,808		—		6,808		855		—		855
IT Equipment	2,416		(851)		1,565		1,296		(424)		872
Furniture and Fixtures	1,147		(495)		652		1,239		(271)		968
Leasehold Improvements	1,482		(920)		562		1,268		(510)		758
Other	2,568		(1,203)		1,365		1,415		(328)		1,087
Total	$	18,650	$	(4,895)	$	13,755	$	10,715	$	(2,509)	$	8,206

Total depreciation expense was $2.4 million, $1.4 million and $0.5 million for the fiscal year ended September 30, 2022, 2021 and 2020, respectively.

Property and equipment are depreciated over the estimated useful lives of the respective assets on a straight-line basis. The range of estimated lives for the respective assets is as follows:


Machinery and equipment			10 years
IT equipment			5 years
Furniture and fixtures			5 years
Leasehold Improvements			10 years, or lease term if shorter
Other			2 years

Leases

12 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

On October 1, 2021 the Company adopted ASU 2016-02, Leases ("ASC 842") including the subsequent ASU's that amended and clarified the related guidance. ASC 842 requires lessees to recognize assets and liabilities for most leases. The Company determines if an arrangement is a lease at contract inception. A lease exists when a contract conveys to the customer the right to control the use of an identified asset for a period of time in exchange for consideration. The definition of a lease embodies two conditions: (1) there is an identified asset in the contract, and (2) the customer has the right to control the use of the identified asset. Lessees are required to classify leases as either finance or operating leases. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease.

ASC 842 provided several optional practical expedients for use in transition to and ongoing application of ASC 842. The Company elected to utilize the package of practical expedients in ASC 842-10-65-1(f) that, upon adoption of ASC 842, allows entities to (1) not reassess whether any expired or existing contracts are or contain leases, (2) retain the classification of leases (e.g., operating or finance lease) existing as of the date of adoption and (3) not reassess initial direct costs for any existing leases. The Company did not elect the practical expedient pertaining to the use of hindsight. For all asset classes which the Company currently has leases, the Company elected to utilize the practical expedient in ASC 842-10-15-37 in which the Company has chosen to account for each separate lease component of a contract and its associated non-lease components as a single lease component.

The Company’s right-of-use assets and lease liabilities primarily relate to offices, land, warehouses, and equipment. The Company’s leases have remaining lease terms of one year to three years . The Company's leases are all classified as operating leases. Certain of the Company’s leases contain renewal, extension, or termination options. The Company assesses each option on an individual basis and will only include options reasonably certain of exercise in the lease term. The Company generally considers the base term to be the term provided in the contract. None of the Company’s lease agreements contain material options to purchase the leased property, material residual value guarantees, or material restrictions or covenants.

The Company does not recognize a lease liability or right-of-use asset on the balance sheet for short-term leases. Instead, the Company recognizes short-term lease payments as an expense on a straight-line basis over the lease term. A short-term lease is defined as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. Leases (with terms greater than twelve months) are recorded on the consolidated balance sheet at the present value of the minimum lease payments not yet paid. As the Company's leases do not provide an implicit rate, the Company generally uses its incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date to calculate the present value of future lease payments. Certain leases include payments that are based solely on an index or rate. These variable lease payments are included in the calculation of the ROU asset and lease liability and are initially measured using the index or rate at the lease commencement date. Other variable lease payments, such as payments based on use and for property taxes, insurance, or common area maintenance that are based on actual assessments are excluded from the ROU asset and lease liability and are expensed as incurred. In addition to the present value of the future lease payments, the calculation of the ROU asset also includes adjustments for lease incentives, deferred rent, lease prepayments and initial direct costs of obtaining the lease, such as commissions.

Certain lease contracts contain nonlease components such as maintenance and utilities. As discussed above, the Company has made an accounting policy election, as allowed under ASC 842-10-15-37, to capitalize both the lease component and nonlease components of its contracts as a single lease component for its right-of-use assets. This election applies at the asset class level.

The Company has subleased a portion of an office to third party where the Company remains primarily liable to the landlord for the performance of all obligations in the event that the sub-lessee does not perform its obligations under the lease. As a result of the

sublease arrangements, future rental commitments under the operating lease will be offset by sublease amounts to be paid by the sub-lessee. In general, the terms of the sublease are similar to the terms of the master lease.


in thousands	Year Ended
	September 30, 2022
Lease cost
Operating lease cost	$	1,713
Variable lease cost		765
Sublease income		(182)
Total lease cost	$	2,296

Supplemental information related to the Company's leases for the year ended September 30, 2022 was as follows:


in thousands	Year Ended
	September 30, 2022
Cash paid for amounts included in the measurements of lease liabilities	$	1,880
Right-of-use assets obtained in exchange for new operating lease liabilities	$	918
Weighted average remaining lease term - operating leases		1.4 years
Weighted average discount rate - operating leases		3.17	%

Total remaining lease payments under the Company's leases for each of the succeeding years is as follows (in thousands):


Year Ended September 30,	Operating Leases
2023	$	1,797
2024		724
2025		274
2026		38
2027		–
Thereafter		–
Total lease payments		2,833
Less: Interest		(90)
Present value of lease liabilities	$	2,743

Intangible Assets, Net

12 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

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


in thousands	Weighted Average Estimated Useful Lives	September 30, 2022						September 30, 2021
		Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Patents and licenses	14 years	$	28,551	$	(9,033)	$	19,518	$	32,982	$	(9,207)	$	23,775
Developed technology (a)	12 years	28,347		(2,720)		25,627		$	12,600	$	(1,050)	$	11,550
Customer relationship (a)	6 years	3,340		(263)		3,077		—		—		—
Tradenames/Trademarks (a)	11 years	5,216		(2,679)		2,537		—		—		—
Other	6 years	1,213		(276)		937		894		(162)		732
Total		$	66,667	$	(14,971)	$	51,696	$	46,476	$	(10,419)	$	36,057

(a) The intangible assets as of September 30, 2022 included $16.5 million, $3.5 million and $0.8 million, respectively, related to the acquisition of Nispera discussed in Note 4 - Business Combinations.

Intangible assets are amortized over the estimated useful lives of the respective assets on a straight-line basis. Total amortization expense was $4.6 million, $3.6 million, and $2.5 million for the fiscal year ended September 30, 2022, 2021 and 2020, respectively.

Total future amortization expense for finite-lived intangible assets was estimated as follows:


In thousands	Future Amortization Expenses
2023	$	5,677
2024	5,672
2025	5,672
2026	5,131
2027	4,991
Thereafter	24,553
Total	$	51,696

Goodwill

12 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill is assessed for impairment annually each year during on the first day of the Company’s fourth quarter, or when impairment indicators exist. No impairment was recognized for the fiscal year ended September 30, 2022 or 2021.

The following table presents the goodwill activity:


in thousands	Fiscal Year Ended September 30,
	2022		2021
Goodwill, Beginning of the period	$	9,176	$	4,731
Foreign currency adjustment	(861)		(4)
Acquisition related goodwill (a)	16,536		4,449
Goodwill, End of the period	$	24,851	$	9,176

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

Accruals and Provisions

12 Months Ended

Sep. 30, 2022

Payables and Accruals [Abstract]

Accruals and Provisions

Accruals mainly represent not yet invoiced milestones for inventory such as batteries, enclosures, 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. Accruals and provisions consisted of the following:


in thousands	September 30,
	2022		2021
Accruals	$	152,996	$	155,963
Provisions for expected project losses	30,032		30,180
Other project related provisions	1,625		257
Total	184,653		186,400
Less: non-current portion	(839)		(257)
Current portion	$	183,814	$	186,143

- Definition

The entire disclosure for long-term contracts or programs.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=84167097&loc=d3e55538-109407

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126938061&loc=d3e54681-109401

+ Details

Debt	12 Months Ended
Debt	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Revolving Credit Facility On November 1, 2021, we entered into a credit agreement for 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 “Credit Agreement”). 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 was $190.0 million from the lenders party thereto including JP Morgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., Bank of America, N.A., Barclays Bank PLC, and five other banks. On June 30, 2022, the Company increased the revolving commitment available under the Revolver by $10.0 million to an aggregate of $200.0 million with the addition of UBS AG, Stamford Branch as an additional lender under the Revolver. The maturity date of the Revolver is November 1, 2025. The Revolver bears interest at either (i) the Adjusted LIBOR or Adjusted EURIBO Rate (each as defined in the Credit Agreement) plus 3.0% or (ii) the Alternate Base Rate (as defined in the Credit Agreement) 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. The Revolver also provides for up to $200.0 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 Credit Agreement contains customary covenants for these types of financing, including, but not limited to, 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 Credit Agreement 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. Under the terms of the Revolving Credit Agreement, Fluence Energy, LLC and its subsidiaries are currently limited in their ability to pay cash dividends to, lend to, or make other investments in Fluence Energy, Inc., subject to certain exceptions, including among others (i) the ability to make investments of up to the greater of (a) $10,500,000 and (b) 1.5% of the consolidated assets of Fluence Energy, Inc. and its subsidiaries, and (ii) the ability to issue dividends and make other Restricted Payments (as defined in the Revolving Credit Agreement) (a) if after giving pro forma effect to such dividend or other Restricted Payment the Total Liquidity (as defined in the Revolving Credit Agreement) of Fluence Energy, Inc. and its subsidiaries party to the Revolving Credit Agreement is at least $600,000,000, and (b) such dividend or other Restricted Payment is made to reimburse Fluence Energy, Inc. for certain tax distributions under the Fluence Energy LLC Agreement and certain payments under the Tax Receivable Agreement and certain operational expenses incurred in connection with the ownership and management of Fluence Energy, LLC. In addition, we are required to maintain (i) minimum liquidity and gross revenue requirements, in each case, until consolidated EBITDA reaches $150 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 September 30, 2022, we were in compliance with all such covenants or maintained availability above such covenant triggers. As of September 30, 2022, we had no borrowings under the Revolver and $27.1 million of letters of credit outstanding, and availability under the facility was $172.9 million net of letters of credit issued. 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 million, with the expiration date on March 31, 2023. Outstanding borrowings from the Line of Credit were $50 million as of September 30, 2021. The weighted average annual interest rate of the borrowing was 2.83%. On November 1, 2021, the $50 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 15 - Related-Party Transactions for borrowing 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Income Taxes

12 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

The following table presents the components of loss before income tax (in thousands):


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Domestic	$	(213,764)	$	(158,876)	$	(34,929)
Foreign	(74,056)		(1,298)		(5,360)
Loss before income taxes	$	(287,820)	$	(160,174)	$	(40,289)

The major components of income tax expense/(benefit) were as follows:


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Current income tax expense (benefit):
Domestic	$	—	$	—	$	—
Foreign	$	1,234	$	3,079	$	1,099
Deferred income tax expense (benefit):
Domestic	—		—		—
Foreign	(243)		(1,346)		1,900
Withholding income tax expense:
Domestic	—		—		—
Foreign	366		96		3,422
Total income tax expense (benefit)	$	1,357	$	1,829	$	6,421

The following table summarizes a reconciliation of the U.S. statutory federal income tax rate to the Company’s effective tax rate.


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Statutory rate	21.0	%	21.0	%	21.0	%
State taxes	1.7	%	—	%	—	%
Flow-through losses	(9.5)	%	(20.8)	%	(18.2)	%
Foreign rate differential	1.0	%	0.5	%	1.4	%
Withholding taxes	(0.1)	%	(0.1)	%	(8.5)	%
Valuation allowance	(15.2)	%	(2.4)	%	(10.0)	%
Permanent differences	1.2	%	0.8	%	(1.2)	%
Other items, net	(0.6)	%	(0.1)	%	(0.4)	%
Effective Tax Rate	(0.5)	%	(1.1)	%	(15.9)	%

Deferred income tax is generated by Fluence Energy, Inc. and its foreign subsidiaries and is comprised of the following:


in thousands	September 30,
	2022		2021
Deferred Tax Assets
Inventory	$	35,756	$	2,687
Investment in Fluence Energy, LLC	293,732		—
Deferred revenue	10,465		9,081
Tax loss carryforwards	55,859		11,545
Trade receivables	—		9
Unrealized foreign exchange losses	3,517		1,060
Share-based compensation	4,436		—
Other deferred tax assets	223		—
Total deferred tax assets	403,988		24,382
Valuation allowance	(354,404)		(11,632)
Net deferred tax assets	49,584		12,750
Deferred Tax Liabilities
Trade receivables	(16,330)		(5,240)
Intangible assets	(3,848)		(150)
Accrued and other liabilities	(29,932)		(6,176)
Unrealized foreign exchange gains	(1,118)		—
Other deferred tax liabilities	(204)		—
Total deferred tax liabilities	$	(51,432)	$	(11,566)
Total net deferred tax assets (liabilities)	$	(1,848)	$	1,184

As of September 30, 2022, the Company did not have material undistributed foreign earnings. The Company has not recorded a deferred tax liability on the undistributed earnings from its foreign subsidiaries, as such earnings are considered to be indefinitely reinvested.

The foreign net operating loss carryforwards as of September 30, 2022 and September 30, 2021 are approximately $153.7 million and $66.9 million, respectively. The majority of the net operating loss carryforwards are attributable to the Company’s German and Australian subsidiaries that have an unlimited carryforward period. Approximately $6.1 million of the foreign net operating losses will expire between FY23 and FY30. The federal and state net operating loss carryforwards as of September 30, 2022 are approximately $184.4 million ($105.8 million federal and $78.6 million state). The federal and state net operating loss carryforwards are attributable to Fluence Energy, Inc. a corporate entity which, upon IPO on November 1, 2021, became a holding company of Fluence Energy, LLC. The federal net operating losses have an unlimited carryforward period. Approximately $66.8 million of state net operating losses will expire between FY32 and FY42.

As of September 30, 2022 and 2021, the Company had recorded a valuation allowance of $354.4 million and $11.6 million, respectively. In 2021, the valuation allowances were recorded against deferred tax assets of the Company’s German and Australian subsidiaries. In 2022, the valuation allowances were recorded against deferred tax assets of the Company’s German and Australian subsidiaries, as well as Fluence Energy, Inc. As a holding company, Fluence Energy, Inc. recorded deferred tax assets primarily related to its investment in the LLC. 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 at Fluence Energy, Inc. and its German and Australian entities will not be realized and recorded a valuation allowance against such deferred tax assets.

The net increase in the valuation allowance of $342.8 million in fiscal year 2022 is due to a $302.5 million increase recorded through equity related to the IPO and other organizational transactions, a $43.6 million increase in valuation allowance related to current year activity in jurisdictions with full valuation allowances, and a $3.2 million decrease related to currency translation adjustments. Further, a future reversal of $3.0 million of the valuation allowance on deferred tax assets as of September 30, 2022, would be accounted for as an increase in equity.

As of September 30, 2022 and 2021, the Company has not recognized tax benefits relating to uncertain tax positions. During the year, the German tax authorities audited Fluence Germany for the period beginning January 1, 2018 through December 31, 2021. In October of 2022, the tax authorities issued a report confirming no finding upon the finalization of the audit. With the exception of Germany, the period from January 1, 2018 until September 30, 2022 remains subject to examination by foreign, federal and state

taxing authorities. The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. On August 16, 2022, the US enacted the Inflation Reduction Act of 2022, which, among other things, implements a 15% minimum tax on book income of certain large corporations effective in 2024, a 1% excise tax on net stock repurchases after December 31, 2022 and several tax incentives to promote clean energy. We are still evaluating the impact these Inflation Reduction Act related tax incentives may have on our financial results as we go forward.

- 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
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitment and Contingencies

12 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Guarantees

As of September 30, 2022, the Company had outstanding bank guarantees issued as performance security arrangements for several projects. Performance security is a precondition to receive any payment from the customer and is reduced in stages according to the project completion status.

Typical turn-key contracts and long-term service agreements contain provisions for performance liquidated damages payments if the solution fails to meet the guaranteed performance thresholds at completion of the project or throughout the service agreement period.

Purchase Commitments

The Company has commitments for minimum volumes of purchases of batteries under a master supply agreement. Liquidated damages apply if the minimum purchase volumes are not met. The Company expects to meet the minimum committed volumes of purchases. The following presents our future minimum purchase commitments by fiscal year, primarily for batteries, and liquidated damages if the minimum purchase volumes are not met as of September 30, 2022:


in thousands	Purchase Commitments		Liquidated Damages
2023	$	665,871	$	30,799
2024	768,898		122,157
2025	170,295		33,321
2026 and thereafter	4,050		2,502
Total	$	1,609,114	$	188,779

We are currently renegotiating our existing master service agreement with one of our largest battery suppliers, and the purchase commitments set forth above are not reflective of any increase in price that results from such negotiation.

During the twelve months ended September 30, 2022, 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, as of September 30, 2022, the balances of $51.3 million and $8.8 million are recorded within “Current assets - Advances to suppliers” and “Non-current assets - Advances to suppliers”, respectively, on the condensed consolidated balance sheets.

Warranties

The Company is party to both assurance and service-type warranties for various lengths of time. The Company recognizes revenue for service type warranties using either a straight-line or cost to cost method depending on the contract. Extended warranties that customers purchase separately from the related products and services are accounted for as separate performance obligations.

The Company provides a limited warranty related to the successful operation of battery-based energy storage solutions, apart from the service type warranties described above and are normally provided for a limited period of time from one to five years, after the commercial operation date or substantial completion depending on the contract terms. The warranties are considered assurance-type warranties which provide a guarantee of quality of the products.

For assurance-type warranties, the Company records an estimate of future warranty cost when the battery energy solution is transferred to the customer and the future costs of servicing the warranty are both probable and estimable. Periodically, the Company evaluates and adjusts warranty costs to the extent that actual warranty costs materially differ from the original estimates. As of September 30, 2022, the Company accrued warranty liabilities of $1.6 million. No liability was recorded as of September 30, 2021 as no material amount of costs for assurance type warranties were deemed probable and estimable.

The warranty liability was recorded as follows (in thousands):


	Fiscal year ended September 30,
	2022		2021
Beginning balance, warranty liability	$	—	$	—
Increase (decrease) to ST warranty accrual estimate	786.3		—
Increase (decrease) to LT warranty accrual estimate	838.7		—
Ending balance, aggregate warranty liability	$	1,625.0	$	—

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.

The following discusses certain potential loss contingencies as of September 30, 2022:

2021 Cargo Loss Incident

On April 28, 2021, the Company was notified of an emergency aboard a vessel carrying Fluence inventory. This incident resulted in damage to a portion of our cargo aboard the vessel. The Company 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 twelve months ended September 30, 2022, $13.0 million of inventory was written off. 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, fees to dispose of the damaged cargo, and additional cost to replace the damaged cargo. We received an aggregate of $10.0 million insurance proceeds related to non-disputed claims, $7.5 million of which was collected in October 2021 and the remaining $2.5 million was collected in April 2022.

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 designed and installed portions of the facility, which was completed in fiscal year 2021. No injuries were reported from the incident. The facility was taken offline as teams from Fluence, our customer, and the battery designer/manufacturer investigated the incident. Our customer released initial findings in the second fiscal quarter of 2022 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. 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, including the design and installation of portions of the facility over which Fluence did not have responsibility or control. The customer has alleged that Fluence is liable for the incident but has not yet demanded a specific amount of compensation nor alleged a particular level of responsibility. Fluence has denied liability. No formal legal proceedings have been commenced, but it is reasonably possible that litigation may result from this matter if a resolution cannot be achieved. Any such dispute would also likely include claims by Fluence and counterclaims by the customer relating to disputed costs arising from the original design and construction of the facility. The customer announced in July of 2022 that a large portion of the facility was back online. We are currently not able to estimate the impact, that this incident may have on our financial results. To date, we do not believe that this incident has impacted the market’s adoption of our products.

2022 Overheating Event at Customer Facility

On April 18, 2022, a 10 MW energy storage facility in Chandler, Arizona owned by AES experienced an overheating event. Fluence served as the energy storage technology provider for the facility, which was completed in 2019, and Fluence currently provides maintenance services for the facility. There were no injuries. The facility has been taken offline as teams from Fluence, AES, and the battery manufacturer investigate the incident. We are currently not able to estimate the impact, if any, that this incident may have on our reputation or financial results, or on market adoption of our products.

Negotiations with our Largest Battery Module VendorIn December 2021 we entered into negotiations with our largest battery module vendor to amend our battery supply agreement. As part of these discussions the vendor is seeking to renegotiate the price we were to pay the vendor for battery modules purchased in calendar 2022 as well as those expected to be purchased during the remainder of 2022 as well as 2023 calendar years. As part of these negotiations, we also discussed settlement of damages incurred by Fluence for defective products and delays caused by the battery module vendor. These negotiations continued throughout fiscal year 2022 with no agreement on pricing or key terms. In December 2022, we reached an agreement in principle, on pricing related to calendar year 2022 and 2023. As a result, our costs related to batteries purchased in calendar year 2022 increased by $66.1 million, of which $17.9 million has been recognized as cost of goods and services, $31.8 million as an increase the value of inventory in fiscal year 2022. The remainder will be incurred in the first quarter of 2023. In addition, we agreed in principle to settle damages, in which the battery module vendor will remit a payment to the Company for the amount of $20.0 million, for lost revenues that we incurred primarily as a result of battery module supply delays. The payment represents a gain contingency and will be recognized in our financial statements when realized. Furthermore, the battery module vendor has agreed to reimburse us for $3.1 million related to costs incurred for product defects. As the costs were incurred prior to September 30, 2022 we have recorded a receivable for the claim. As the claim for liquidated damages, cost reimbursement and batteries were negotiated at the same time, we evaluated the agreement to determine each of these components were recognized (or will be recognized) based upon their relative fair value. This determination required the use of judgement and estimates in to develop standalone value. The amounts, timing and the nature of the amended battery module agreement and settlements is dependent upon us reaching a final agreement which may not occur.

Related-Party Transactions

12 Months Ended

Sep. 30, 2022

Related-Party Transactions

Related parties are represented by AES and Siemens, their respective subsidiaries and other entities under common control. As of September 30, 2022, AES holds 58,586,695 shares of Class B-1 common stock of Fluence Energy, Inc. and Siemens hold and aggregate of 58,586,695 shares of Class A common stock of Fluence Energy, Inc.

Capital Contributions from Members

In June 2021, Siemens made $6.3 million capital contribution in cash to the Company in exchange for certain amendments to the Company’s limited liability company agreement. In January 2020, AES made a $2.5 million capital contribution in cash.

Borrowings from Related Parties

On April 28, 2021, and June 3, 2021, the Company borrowed $25.0 million and $25.0 million from AES and Siemens, respectively, in the form of one-year subordinated promissory notes, each bearing an annual interest at 2.86%. Both borrowings were paid off in June 2021.

On May 3, 2021, the Company borrowed $25.0 million from Siemens in the form of a one-year subordinated promissory note with an annual interest rate of 2.86%. The borrowing was paid off in June 2021.

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

All related party borrowings were for general working capital needs.

Sales Contracts with Related Parties

The Company signs back-to-back battery-based energy storage product and related service contracts with AES, Siemens and their subsidiaries (collectively referred to as affiliates) in relation to execution of the affiliates’ contracts with external customers and also direct contracts signed with affiliates. Revenue from contracts with affiliates is included in “Revenue from related parties” on the Company’s consolidated statements of operations and comprehensive loss.

In addition, the Company purchases materials and supplies from its affiliates and records the costs in “Cost of goods and services” on the Company’s 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, sales services, and 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 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 under certain contracts with Fluence’s customers, which are based on the affiliates’ weighted average cost for bank guarantees and their per annum cost of surety bonds with a reasonable markup. The guarantee fees are included in “Costs of goods and services” on the Company’s consolidated statements of operations and comprehensive loss.

Receivables and Payables

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


in thousands	September 30,
	2022		2021
Accounts receivable	$	91,879	$	26,292
Unbilled receivables	20,148		7,070
Total receivables from related parties	$	112,027	$	33,362
Accounts payable	$	2,550	$	4,510
Deferred revenue	300,697		220,122
Accrued liabilities	3,101		3,293
Total payables and deferred revenue with related parties	$	306,348	$	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 consolidated statements of operations and comprehensive loss for the periods indicated:


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Revenue	$	646,332	$	86,711	$	159,647
Cost of goods and services	(19,753)		(27,673)		(14,399)
Research and development expenses	(141)		(356)		(511)
Sales and marketing expenses	(1,679)		(1,991)		(2,105)
General and administrative expenses	(4,918)		(1,172)		(1,656)

The Company did not have any capitalized assets from related parties for the fiscal year ended September 30, 2022. In addition, the Company had purchases from related parties capitalized as assets $1.5 million and $1.9 million for the fiscal year ended September 30, 2021 and 2020 respectively.

Employee Benefit Plan	12 Months Ended
Employee Benefit Plan	Sep. 30, 2022
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit Plan The Company maintains a 401(k) plan covering all eligible U.S. payroll employees. The 401(k) plan provides that eligible employees may make contributions subject to IRS limitations. Under terms of the 401(k) plan, the Company matches an employee’s contributions at a rate of 100% up to 5% of the employee’s annual salary. For the fiscal years ended September 30, 2022, 2021 and 2020, the Company contributed approximately $4.1 million, $1.9 million and $0.9 million to the 401(k) plan, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

Stock-Based Compensation

12 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based Compensation The Company expenses the grant date fair value of all awards using the straight-line method over the applicable service period. The Company has made a policy election to account for forfeitures as they occur. If there are any modifications of the underlying invested securities or the terms of the unit option or phantom unit, it may be necessary to accelerate or increase any remaining unamortized unit-based compensation expense.

The Option Plan

In 2020, the Company established the Nonqualified Unit Option Plan (“the Option Plan”) under which 8,923,121 stock options with an exercise price of $2.45 remain outstanding as of September 30, 2022. Stock options under the plan have a contractual term of 10 years from the date of grant. The Company estimates the fair value of the unit-based awards, including unit options and phantom awards, using the Black-Scholes option-pricing model. Determining the fair value of unit-based awards requires the use of highly subjective assumptions, including the fair value of the unit underlying the award, the expected term of the award and expected unit price volatility. The outstanding awards will continue to be governed by their existing terms under the Option Plan. The Option Plan is accounted for as an equity plan.

The following table summarizes the unit option activity under the Option Plan:


	Number of options	Weighted average exercise price per share		Weighted average remaining contractual term (years)
Outstanding as of October 1, 2021	11,974,343	$	2.45	9.51
Exercised	(1,131,765)	2.45
Forfeited	(1,919,457)	2.45
Outstanding and exercisable as of September 30, 2022	8,923,121	2.45		8.51

The total intrinsic value of the 2020 Plan stock options outstanding during the years ended September 30, 2022 was $108.3 million. Total compensation cost related to nonvested awards not yet recognized as of September 30, 2022 totaled $1.7 million, and is expected to be recognized over a weighted average period of 1.5 years.

Phantom Units

Employees, directors, consultants, and other independent contractors are eligible to receive equity awards and other forms of compensation under the Phantom Equity Incentive Plan (“the Incentive Plan”).

As of the fiscal year ended September 30, 2022, 605,591 class A-1 phantom units to certain employees and non-employees were outstanding. All units granted vest upon 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 is the earlier of either six months after the effective date of a registration statement for our IPO or a change in control.

As a liquidity event had not occurred as of September 30, 2021, no compensation costs were recorded 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 recognized during the twelve months ended September 30, 2022.

The grant date fair value of the phantom units was $2.20 per unit. Phantom units granted to foreign employees in certain countries will require cash settlement. As such, the awards which require cash settlement are classified as liability awards. 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 information concerning the outstanding phantom units granted by the Company:


						Number of Units
Outstanding – As of September 30, 2021						2,169,060
Granted						—
Exercised						(1,427,662)
Forfeited						(135,807)
Outstanding as of September 30, 2022						605,591

Total compensation cost related to nonvested awards not yet recognized as of September 30, 2022 totaled $8.4 million, and is expected to be recognized over a weighted average period of 1.2 years. The fair value of Phantom Units that vested during the year ended September 30, 2022, was $3.1 million. There is no contractual term on the Phantom Units.

2021 stock-based compensation plans

During 2021, the Company established the 2021 Incentive Award Plan and Restricted Stock Units (“2021 Plan”) which permits the issuance of 9,500,000 shares of Class A common stock for the grant of incentive stock options (“ISO”) and Restricted Stock Units (“RSU”) for management, other employees, and board members of the Company. Employee stock-based awards, consisting of stock options or restricted stock units (RSUs) expected to be settled by issuing shares of Class A common stock, are recorded as equity awards.

The 2021 Plan is accounted for as an equity plan. Compensation expense is recognized on a straight-line basis over a three-year period, the total requisite service period of the awards.

The following table summarizes the unit option activity under the 2021 Plan


			Number of RSUs
Outstanding as of October 1, 2021			—
Granted			2,377,799
Exercised			—
Forfeited			(220,906)
Outstanding and exercisable as of September 30, 2022			2,156,893

The weighted average grant date fair value of the RSUs was $20.51 and the RSUs generally vest in three equal annual installments. Total compensation cost related to nonvested awards not yet recognized as of September 30, 2022, was $26.9 million and is expected to be recognized over a weighted average period of 2.5 years. There is no contractual term on the RSUs under the 2021 Plan.

Other

In connection with the acquisition of Nispera, Fluence issued 0.5 million shares of restricted stock to Nispera’s management team. The estimated post combination expense to the Company as a result of the business combination was approximately $6.9 million which will be recognized on a straight-line basis over the remaining service period that was stipulated in each holder’s original RSU agreement

In connection with the Phantom Units, the Company incurred $3.0 million in stock based compensation expense which was settled in cash.

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, the Coughlin award modification 1) accelerated the vesting of phantom unites to the IPO date that would have otherwise vested on the six-month anniversary of the consummation, and 2) accelerated the vesting of unit options to the IPO date 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. Incremental stock compensation expense related to the modification was $5.7 million, which was recognized fully during the three months ended December 31, 2021.

Stock-based compensation expense

The stock-based compensation expense was recorded as follows (in thousands):


	2022		2021		2020
Cost of goods and services	$	8,523	$	—	$	—
Research and development	$	7,846	$	—	$	—
Sales and marketing	$	4,149	$	—	$	—
General and administrative	$	23,613	$	—	$	—
Total stock-based compensation expense	$	44,131	$	—	$	—

Subsequent Events	12 Months Ended
Subsequent Events	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Restructuring Plan On November 11, 2022, the board of directors approved a restructuring plan to create a more sustainable organization structure for long term growth. As part of this plan, we will relocate certain positions at high-cost locations to the Fluence India Technology Centre. We expect that the restructuring plan will be complete by the end of fiscal year 2023. Management has the authority to expand the plan as determined necessary without additional board consent. We do not expect costs incurred to be material.

Schedule I Condensed Financial Information of Registrant

12 Months Ended

Sep. 30, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule I Condensed Financial Information of Registrant

SCHEDULE I. CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT

FLUENCE ENERGY, INC.

CONDENSED BALANCE SHEETS

(PARENT COMPANY ONLY)

(U.S. Dollars in Thousands, except share and per share amounts)


	September 30,
	2022		2021
Assets
Current assets:
Cash and cash equivalents	$	—	$	—
Other receivables	19		—
Total current assets	19		—
Non-current assets:
Deferred income tax asset, net	—		—
Investment in subsidiaries	847,356		—
Total non-current assets	847,356		—
Total assets	$	847,375	$	—
Liabilities, stockholders’ equity
Current liabilities:
Accounts payable - related party	208		—
Total current liabilities	208		—
Total liabilities	208		—
Commitments and Contingencies (Note 3)
Stockholders’ Equity:
Preferred stock, $0.00001 per share, 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2022 and 2021	—		—
Class A common stock, $0.00001 par value per share, 1,200,000,000 shares authorized; 115,424,025 shares issued and 114,873,121 shares outstanding as of September 30, 2022; no shares issued and outstanding as of September 30, 2021	—		—
Class B-1 common stock, $0.00001 par value per share, 200,000,000 shares authorized; 58,586,695 shares issued and outstanding as of September 30, 2022; no shares issued and outstanding as of September 30, 2021	—		—
Class B-2 common stock, $0.00001 par value per share, 200,000,000 shares authorized; no shares issued and outstanding as of September 30, 2022 and 2021	—		—
Treasury stock, at cost	(5,013)		—
Additional paid-in capital	951,760		—
Distribution from Fluence Energy, LLC	5,013		—
Contribution to Fluence Energy, LLC	(3,103)
Accumulated deficit	(101,490)		—
Total stockholders’ equity	847,167		—
Total liabilities, stockholders’ equity	$	847,375	$	—

The accompanying notes are an integral part of these condensed financial statements.

SCHEDULE I. CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT

FLUENCE ENERGY, INC.

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(PARENT COMPANY ONLY)

(U.S. Dollars in Thousands)


	Fiscal Year Ended September 30,
	2022		2021		2020
Revenue	$	—	$	—	$	—
Revenue from related parties	—		—		—
Total Revenue	—		—		—
Operating expenses:
General and administrative	855		—		—
Interest expense	—		—		—
Equity in net (loss) of subsidiaries	(103,630)		—		—
Loss before income taxes	(104,485)		—		—
Income tax expense	—		—		—
Net loss	$	(104,485)	$	—	$	—
Net Loss attributable to non-controlling interest	—		—		—
Net loss attributable to Fluence Energy, Inc.	$	(104,485)	$	—	$	—

Foreign currency translation gain, net of income tax benefit (expense) of $0 in each period	2,854		—		—
Actuarial gain on pension liabilities, net of income tax (expense) benefit of $0 in each period	141		—		—
Total other comprehensive income	2,995		—		—
Total comprehensive loss	$	(101,490)	$	—	$	—

The accompanying notes are an integral part of these condensed financial statements.

SCHEDULE I. CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT

FLUENCE ENERGY, INC.

CONDENSED STATEMENTS OF CASH FLOWS

(PARENT COMPANY ONLY)

(U.S. Dollars in Thousands)


	Fiscal Year Ended September 30,
	2022		2021		2020
Operating activities
Net loss	$	(104,485)	$	—	$	—
Adjustments to reconcile net loss to net cash (used in) operating activities:



Equity in net loss of subsidiaries	103,630		—		—
Stock-based compensation expense	666		—		—


Changes in operating assets and liabilities:
Other receivables	(19)		—		—






Accounts payable - related party	208		—		—








Net cash (used in) operating activities	—		—		—
Investing activities
Purchase of LLC interests in Fluence Energy, LLC	(947,990)		—		—



Net cash (used in) investing activities	(947,990)		—		—
Financing activities






Distributions from Fluence Energy, LLC	5,013		—		—
Repurchase of Class A common stock placed into treasury	(5,013)		—		—
Proceeds from exercise of stock options	3,103		—		—
Contributions to Fluence Energy, LLC	(3,103)		—		—

Proceeds from issuance of Class A common stock sold in an IPO, net of underwriting discounts and commissions	947,990		—		—



Net cash provided by financing activities	947,990		—		—
Effect of exchange rate changes on cash and cash equivalents	—		—		—
Net increase in cash and cash equivalents	—		—		—
Cash, cash equivalents, as of the beginning of the period	—		—		—
Cash, cash equivalents, as of the end of the period	$	—	$	—	$	—

The accompanying notes are an integral part of these condensed financial statements.

SCHEDULE I. CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT

FLUENCE ENERGY, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(PARENT COMPANY ONLY)

(U.S. Dollars in Thousands)

1.Organization and Operations

Fluence Energy, Inc., a Delaware corporation (the “Company” and the “Parent Company”), was formed on June 21, 2021. We conduct our business operations through Fluence Energy, LLC and its direct and indirect subsidiaries. Upon the completion of our Initial Public Offering (the “IPO”) on November 1, 2021, Fluence Energy, Inc. became a holding company whose sole material assets are the LLC Interests in Fluence Energy LLC. All of our business is conducted through Fluence Energy, LLC, together with its subsidiaries. Fluence Energy LLC is treated as a partnership for federal income tax purposes and, as a result, its members, including Fluence Energy, Inc. will pay income taxes with respect to their allocable shares of its net taxable income.

Our fiscal year begins on October 1 and ends on September 30. References to “fiscal year 2020”, “fiscal year 2021” and “fiscal year 2022” refer to the fiscal years ended September 30, 2020, September 30, 2021 and September 30, 2022, respectively.

On November 1, 2021, the Parent Company completed an IPO and a series of organization transactions (collectively with the IPO, the “Transactions”), in which the Company issued and sold 35,650,000 shares of its Class A common stock, par value $0.00001 per share (the “Class A common stock”), 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 Class A common stock. The net proceeds to the Company from the IPO were $948.0 million, after deducting underwriting discounts. Other offering expenses incurred related to the IPO were paid for by Fluence Energy, LLC.

2. Basis of Presentation

These condensed parent company financial statements should be read in conjunction with the consolidated financial statements of Fluence Energy Inc. and the accompanying notes thereto, included in this Annual Report on Form 10-K. For purposes of these condensed financial statements, the Parent Company's interest in Fluence Energy LLC is recorded based upon its proportionate share of Fluence Energy LLC’s net assets (similar to presenting them on the equity method).

Certain intercompany balances presented in these condensed parent company financial statements are eliminated in the consolidated financial statements. $0.2 million of payables were eliminated in consolidation as of September 30, 2022.

3. Commitments and Contingencies

On October 27, 2021, the Parent Company entered into the Tax Receivable Agreement (the “Tax Receivable Agreement”) with Fluence Energy, LLC and Siemens Industry and AES Grid Stability (the “Founders”) which obligates the Company to make payments to the Founders of 85% of the amount of certain tax benefits that Fluence Energy, Inc. actually realizes, or in some circumstances is deemed to realize, arising from the Basis Adjustments and certain other tax benefits arising from payments made under the Tax Receivable Agreement. Increases in tax basis and tax basis adjustments generated over time may increase (for tax purposes) the depreciation and amortization deductions available to Fluence Energy, Inc. and, therefore, may reduce the amount of U.S. federal, state, and local tax that Fluence Energy, Inc. would otherwise be required to pay in the future, although the IRS may challenge all or part of the validity of that tax basis, and a court could sustain such a challenge.

The amounts payable under the Tax Receivable Agreement are contingent upon (i) sufficient taxable income to fully utilize the tax benefits; (ii) Fluence Energy, LLC is able to fully depreciate or amortize its assets; and (iii) no material changes in applicable tax law. The payments under the Tax Receivable Agreement are not conditioned upon continued ownership of us by the Founders. As of September 30, 2022, we determined it is not probable that payments under the Tax Receivable Agreement would be made, given there was no expectation of future sufficient taxable income over the term of the agreement to utilize deductions in the future.

See Note 14 to the consolidated financial statements for information regarding pending and threatening litigation.

Schedule II Valuation And Qualifying Accounts

12 Months Ended

Sep. 30, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II Valuation And Qualifying Accounts

SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS


			Additions
(in thousands)	Balance at beginning of period		Charged to costs and expenses		Charged to other accounts			Reductions		Balance at end of period
Deferred tax asset valuation allowance:
Fiscal year ended September 30, 2021	$	8,014	$	3,618	$	—		$	—	$	11,632
Fiscal year ended September 30, 2022	$	11,632	$	43,561	$	299,211	(1)	$	—	$	354,404

(1) Amount relates to a valuation allowance established on deferred tax assets related to our investment in Fluence Energy, LLC

Summary of Significant Accounting Policies and Estimates (Policies)

12 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles of Accounting

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.

Non-controlling Interest

Use of Estimates

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. If the purpose of restricted cash relates to acquiring a long-term asset, liquidating a long-term liability, or is otherwise unavailable for a period longer than one year from the balance sheet date, the restricted cash is included in other long-term assets. Otherwise, restricted cash is included as a separate line item on the Company’s consolidated balance sheets.

Receivables

Leases

Foreign Currency Transactions

Business Combinations

Revenue and Cost Recognition

Inventory, Net

Inventory consists of batteries and equipment, cases, inverters, and spare parts which are used in ongoing battery storage projects for sale. Inventory is stated at the lower of cost or net realizable value with cost being determined by the specific identification method. Costs include cost of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. The Company periodically reviews its inventory for potential obsolescence and write down of its inventory, as appropriate, to net realizable value based on its assessment of market conditions.

Impairment of Long -Lived Assets

Intangible Assets

Supply Chain Financing

Accruals and Provisions

Expenses are recognized on an accrual basis. Provisions are recognized when it is probable that a liability has been incurred and the amount of liability could be reasonably estimated.

Operating Expenses

Advertising Costs

Advertising costs are expensed as incurred.

(Loss) per Share

Income Taxes

Fair Value Measurements

Reclassification

Certain prior year amounts have been reclassified to conform to current period presentation on the consolidated balance sheet and statement of cash flow.

Recent Accounting Standards Adopted and Recent Accounting Standards Not Yet Adopted

The following table presents accounting standards adopted in 2022:


Standard	Description	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. In June 2020, the FASB issued ASU 2020-05 delaying the effective date for nonpublic entities that had not already adopted the New Standard. Following this additional guidance, the New Standard is effective for annual periods in fiscal years beginning after December 15, 2021, and interim periods in fiscal years beginning after December 15, 2022.	October 1, 2021	The Company adopted the new leases standard utilizing the modified retrospective transition method, under which amounts in prior periods presented were not restated. For contracts existing at the time of adoption, the Company elected to not reassess (i) prior conclusions on whether existing arrangements contained a lease under ASC 840, (ii) lease classification, and (iii) initial direct costs. Upon adoption at October 1, 2021, the Company recorded $3.2 million of right-of-use (“ROU”) assets and $3.7 million of lease liabilities on its Consolidated Balance Sheet. The cumulative impact to retained earnings was insignificant.
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.	October 1, 2021	The adoption of the standard did not have a material impact on our 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.	July 1, 2022	The adoption of the standard had no impact on the Company’s consolidated financial statements.
ASU 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)	The amendments in this ASU clarify the interaction between the accounting for investments in equity securities, investment in equity method and certain derivatives instruments. The ASU is expected to reduce diversity in practice and increase comparability of the accounting for these interactions.	October 1, 2021	The adoption had no impact on the Company's consolidated financial statements.


ASU 2020-10, Codification Improvements	This ASU improves consistency by amending the Codification to include all disclosure guidance in the appropriate disclosure sections and clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology.	October 1, 2021	The adoption of the standard did not have a material impact on our financial statements.
ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers	The ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The standard should be applied prospectively to business combinations occurring on or after the effective date. The standard is effective for fiscal years beginning after December 15, 2022, with early adoption permitted.	October 1, 2021	The Company early adopted for fiscal 2022. The adoption had an immaterial impact to the Nispera acquisition in April 2022.

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
Accounting Standards Update (ASU) No. 2022-04: Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations	In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-04, "Disclosure of Supplier Finance Program Obligations" ("ASU 2022-04"). ASU 2022-04 requires entities to disclose the key terms of supplier finance programs they use in connection with the purchase of goods and services, along with the amount of obligations outstanding at the end of each period and an annual rollforward of such obligations. This standard does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations.	ASU 2022-04 is effective for the Company beginning in its fiscal year ending, September 30, 2024 ("Fiscal 2024") and is to be applied retrospectively to all periods in which a balance sheet is presented. The annual rollforward disclosure is not required to be made until its fiscal year ending September 30, 2025 ("Fiscal 2025") and is to be applied prospectively. Early adoption is permitted.	The Company is evaluating the impact that this guidance will have on disclosures related to its supplier finance program obligations.

Summary of Significant Accounting Policies and Estimates (Tables)

12 Months Ended

Sep. 30, 2022

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 consolidated balance sheets.


in thousands	September 30, 2022		September 30, 2021
Cash and cash equivalents	$	357,296	$	36,829
Restricted cash	62,425		1,240
Restricted cash included in “Other non-current assets”	$	10,000	$	—
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$	429,721	$	38,069

Restrictions on Cash and Cash Equivalents

Restricted cash consisted of the following:


in thousands	September 30, 2022		September 30, 2021
Collateral for credit card program	$	1,580	$	917
Collateral for outstanding bank guarantees	60,845		323
Collateral for surety program included in “Other non-current assets”	10,000		—
Total restricted cash	$	72,425	$	1,240

Schedule of Earnings Per Share, Basic and Diluted

Basic and diluted net loss per share of Class A common stock for the three and twelve months ended September 30, 2022, respectively, have been computed as follows:


In thousands, except share and per share amounts	Twelve Months Ended September 30, 2022
Numerator:
Net loss	$	(289,177)
Less: Net loss attributable to non-controlling interests	(184,692)
Net loss attributable to Fluence Energy, Inc.	$	(104,485)

Denominator:
Weighted average shares of Class A common stock - basic and diluted	69,714,054
Loss per share of Class A common stock - basic and diluted	$	(1.50)

Accounting Standards Update and Change in Accounting Principle

The following table presents accounting standards adopted in 2022:


Standard	Description	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. In June 2020, the FASB issued ASU 2020-05 delaying the effective date for nonpublic entities that had not already adopted the New Standard. Following this additional guidance, the New Standard is effective for annual periods in fiscal years beginning after December 15, 2021, and interim periods in fiscal years beginning after December 15, 2022.	October 1, 2021	The Company adopted the new leases standard utilizing the modified retrospective transition method, under which amounts in prior periods presented were not restated. For contracts existing at the time of adoption, the Company elected to not reassess (i) prior conclusions on whether existing arrangements contained a lease under ASC 840, (ii) lease classification, and (iii) initial direct costs. Upon adoption at October 1, 2021, the Company recorded $3.2 million of right-of-use (“ROU”) assets and $3.7 million of lease liabilities on its Consolidated Balance Sheet. The cumulative impact to retained earnings was insignificant.
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.	October 1, 2021	The adoption of the standard did not have a material impact on our 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.	July 1, 2022	The adoption of the standard had no impact on the Company’s consolidated financial statements.
ASU 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)	The amendments in this ASU clarify the interaction between the accounting for investments in equity securities, investment in equity method and certain derivatives instruments. The ASU is expected to reduce diversity in practice and increase comparability of the accounting for these interactions.	October 1, 2021	The adoption had no impact on the Company's consolidated financial statements.


ASU 2020-10, Codification Improvements	This ASU improves consistency by amending the Codification to include all disclosure guidance in the appropriate disclosure sections and clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology.	October 1, 2021	The adoption of the standard did not have a material impact on our financial statements.
ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers	The ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The standard should be applied prospectively to business combinations occurring on or after the effective date. The standard is effective for fiscal years beginning after December 15, 2022, with early adoption permitted.	October 1, 2021	The Company early adopted for fiscal 2022. The adoption had an immaterial impact to the Nispera acquisition in April 2022.

The following table presents accounting standards not yet adopted:


Standard	Description	Required date of adoption	Effect on the financial statements and other significant matters
Accounting Standards Update (ASU) No. 2022-04: Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations	In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-04, "Disclosure of Supplier Finance Program Obligations" ("ASU 2022-04"). ASU 2022-04 requires entities to disclose the key terms of supplier finance programs they use in connection with the purchase of goods and services, along with the amount of obligations outstanding at the end of each period and an annual rollforward of such obligations. This standard does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations.	ASU 2022-04 is effective for the Company beginning in its fiscal year ending, September 30, 2024 ("Fiscal 2024") and is to be applied retrospectively to all periods in which a balance sheet is presented. The annual rollforward disclosure is not required to be made until its fiscal year ending September 30, 2025 ("Fiscal 2025") and is to be applied prospectively. Early adoption is permitted.	The Company is evaluating the impact that this guidance will have on disclosures related to its supplier finance program obligations.

Short-term Investments


in thousands	Twelve Months Ended September 30, 2022
Beginning balance	$	—
Contributions / (withdrawals)	$	110,143
Changes in fair market value	$	212

Ending Balance	$	110,355

Revenue from Contracts with Customers (Tables)

12 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents the Company’s revenues disaggregated by contract type:


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Revenue from sale of energy storage products	$	1,180,093	$	673,754	$	556,681
Revenue from services	15,912		5,706		3,773
Revenue from digital applications and solutions	2,472		952		—
Other	126		354		869
Total	$	1,198,603	$	680,766	$	561,323

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	Fiscal Year Ended September 30,
	2022		2021		2020
Americas (North, Central and South America)(a)	$	837,935	$	487,572	$	336,610
APAC (Asia Pacific)	178,233		134,874		192,679
EMEA (Europe, Middle-East and Africa)	182,435		58,320		32,034
Total	$	1,198,603	$	680,766	$	561,323

(a) Revenue from United states of America was $582.3 million, $468.4 million and $318.9 million for 2022, 2021 and 2020, respectively.

Change in Contract Liability

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


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Deferred revenue beginning of period	$	71,365	$	123,841	$	52,980
Additions	269,883		69,289		120,852
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(68,175)		(121,765)		(49,991)
Deferred revenue end of period	$	273,073	$	71,365	$	123,841


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Deferred revenue from related parties beginning of period	$	220,122	$	11,425	$	60,968
Additions	300,577		212,344		10,464
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(220,002)		(3,647)		(60,007)
Deferred revenue from related parties end of period	$	300,697	$	220,122	$	11,425

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Total remaining performance obligations related to our contractual commitments as of September 30, 2022:


in millions	As of September 30, 2022
2023-2027	$	2,029.3
Thereafter	174.6
Total remaining performance obligations	$	2,203.9

Business Combination (Tables)

12 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

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


Fair Value of consideration transferred	$	33,445
Recognized amounts of identifiable assets and liabilities assumed:
Cash	489
Accounts receivables and other assets	189
Trademark (11 years life)	750
Developed technology (12 years life)	16,500
Customer relationships (6 years life)	3,500
Accounts payable and other liabilities	(386)
Deferred revenue	(679)
Deferred tax liabilities	(3,454)
Total net identifiable assets acquired and liabilities assumed	$	16,909
Goodwill	$	16,536

Inventory, Net (Tables)

12 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventory consisted of the following:


in thousands	September 30, 2022						September 30, 2021
	Cost		Provision		Net		Cost		Provision		Net
Cubes, batteries, and other equipment (a)	$	653,059	$	(1,294)	$	651,765	$	402,157	$	(12,980)	$	389,177
Shipping containers and spare parts	982		(12)		970		1,857		(1,247)		610
Total	$	654,041	$	(1,306)	$	652,735	$	404,014	$	(14,227)	$	389,787

Other Current Assets (Tables)

12 Months Ended

Sep. 30, 2022

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

Schedule of Other Current Assets

Other current assets consisted of the following amounts:


in thousands	September 30,
	2022		2021
Taxes recoverable	$	14,378	$	3,294
Receivable from insurance (a)	—		10,000
Deferred equity issuance costs	—		7,103
Advance payments	1,813		3,601
Prepaid expenses	2,095		2,480
Prepaid insurance	1,549		—

Derivative Asset	5,574		—
Other	1,226		4,684
Total	$	26,635	$	31,162

Property and Equipment, Net (Tables)

12 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment at Amortized Cost

Property and equipment are stated at amortized cost and consisted of the following:


in thousands	September 30, 2022						September 30, 2021
	Cost		Accumulated Depreciation		Net		Cost		Accumulated Depreciation		Net
Machinery and Equipment	$	4,229	$	(1,426)	$	2,803	$	4,642	$	(976)	$	3,666
Construction in Progress	6,808		—		6,808		855		—		855
IT Equipment	2,416		(851)		1,565		1,296		(424)		872
Furniture and Fixtures	1,147		(495)		652		1,239		(271)		968
Leasehold Improvements	1,482		(920)		562		1,268		(510)		758
Other	2,568		(1,203)		1,365		1,415		(328)		1,087
Total	$	18,650	$	(4,895)	$	13,755	$	10,715	$	(2,509)	$	8,206

The range of estimated lives for the respective assets is as follows:


Machinery and equipment			10 years
IT equipment			5 years
Furniture and fixtures			5 years
Leasehold Improvements			10 years, or lease term if shorter
Other			2 years

Leases (Tables)

12 Months Ended

Sep. 30, 2022

Leases [Abstract]

Summary of Lease Cost


in thousands	Year Ended
	September 30, 2022
Lease cost
Operating lease cost	$	1,713
Variable lease cost		765
Sublease income		(182)
Total lease cost	$	2,296

Supplemental information related to the Company's leases for the year ended September 30, 2022 was as follows:


in thousands	Year Ended
	September 30, 2022
Cash paid for amounts included in the measurements of lease liabilities	$	1,880
Right-of-use assets obtained in exchange for new operating lease liabilities	$	918
Weighted average remaining lease term - operating leases		1.4 years
Weighted average discount rate - operating leases		3.17	%

Maturity of Lease Payments

Total remaining lease payments under the Company's leases for each of the succeeding years is as follows (in thousands):


Year Ended September 30,	Operating Leases
2023	$	1,797
2024		724
2025		274
2026		38
2027		–
Thereafter		–
Total lease payments		2,833
Less: Interest		(90)
Present value of lease liabilities	$	2,743

Intangible Assets, Net (Tables)

12 Months Ended

Sep. 30, 2022

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	Weighted Average Estimated Useful Lives	September 30, 2022						September 30, 2021
		Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Patents and licenses	14 years	$	28,551	$	(9,033)	$	19,518	$	32,982	$	(9,207)	$	23,775
Developed technology (a)	12 years	28,347		(2,720)		25,627		$	12,600	$	(1,050)	$	11,550
Customer relationship (a)	6 years	3,340		(263)		3,077		—		—		—
Tradenames/Trademarks (a)	11 years	5,216		(2,679)		2,537		—		—		—
Other	6 years	1,213		(276)		937		894		(162)		732
Total		$	66,667	$	(14,971)	$	51,696	$	46,476	$	(10,419)	$	36,057

Future Amortization Expense

Total future amortization expense for finite-lived intangible assets was estimated as follows:


In thousands	Future Amortization Expenses
2023	$	5,677
2024	5,672
2025	5,672
2026	5,131
2027	4,991
Thereafter	24,553
Total	$	51,696

Goodwill (Tables)

12 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents the goodwill activity:


in thousands	Fiscal Year Ended September 30,
	2022		2021
Goodwill, Beginning of the period	$	9,176	$	4,731
Foreign currency adjustment	(861)		(4)
Acquisition related goodwill (a)	16,536		4,449
Goodwill, End of the period	$	24,851	$	9,176

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

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Accruals and Provisions (Tables)

12 Months Ended

Sep. 30, 2022

Payables and Accruals [Abstract]

Schedule of Accruals and Provisions

Accruals and provisions consisted of the following:


in thousands	September 30,
	2022		2021
Accruals	$	152,996	$	155,963
Provisions for expected project losses	30,032		30,180
Other project related provisions	1,625		257
Total	184,653		186,400
Less: non-current portion	(839)		(257)
Current portion	$	183,814	$	186,143

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The following table presents the components of loss before income tax (in thousands):


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Domestic	$	(213,764)	$	(158,876)	$	(34,929)
Foreign	(74,056)		(1,298)		(5,360)
Loss before income taxes	$	(287,820)	$	(160,174)	$	(40,289)

Schedule of Components of Income Tax Expense (Benefit)

The major components of income tax expense/(benefit) were as follows:


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Current income tax expense (benefit):
Domestic	$	—	$	—	$	—
Foreign	$	1,234	$	3,079	$	1,099
Deferred income tax expense (benefit):
Domestic	—		—		—
Foreign	(243)		(1,346)		1,900
Withholding income tax expense:
Domestic	—		—		—
Foreign	366		96		3,422
Total income tax expense (benefit)	$	1,357	$	1,829	$	6,421

Schedule of Effective Income Tax Rate Reconciliation

The following table summarizes a reconciliation of the U.S. statutory federal income tax rate to the Company’s effective tax rate.


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Statutory rate	21.0	%	21.0	%	21.0	%
State taxes	1.7	%	—	%	—	%
Flow-through losses	(9.5)	%	(20.8)	%	(18.2)	%
Foreign rate differential	1.0	%	0.5	%	1.4	%
Withholding taxes	(0.1)	%	(0.1)	%	(8.5)	%
Valuation allowance	(15.2)	%	(2.4)	%	(10.0)	%
Permanent differences	1.2	%	0.8	%	(1.2)	%
Other items, net	(0.6)	%	(0.1)	%	(0.4)	%
Effective Tax Rate	(0.5)	%	(1.1)	%	(15.9)	%

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax is generated by Fluence Energy, Inc. and its foreign subsidiaries and is comprised of the following:


in thousands	September 30,
	2022		2021
Deferred Tax Assets
Inventory	$	35,756	$	2,687
Investment in Fluence Energy, LLC	293,732		—
Deferred revenue	10,465		9,081
Tax loss carryforwards	55,859		11,545
Trade receivables	—		9
Unrealized foreign exchange losses	3,517		1,060
Share-based compensation	4,436		—
Other deferred tax assets	223		—
Total deferred tax assets	403,988		24,382
Valuation allowance	(354,404)		(11,632)
Net deferred tax assets	49,584		12,750
Deferred Tax Liabilities
Trade receivables	(16,330)		(5,240)
Intangible assets	(3,848)		(150)
Accrued and other liabilities	(29,932)		(6,176)
Unrealized foreign exchange gains	(1,118)		—
Other deferred tax liabilities	(204)		—
Total deferred tax liabilities	$	(51,432)	$	(11,566)
Total net deferred tax assets (liabilities)	$	(1,848)	$	1,184

Commitment and Contingencies (Tables)

12 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Purchase Commitments

The following presents our future minimum purchase commitments by fiscal year, primarily for batteries, and liquidated damages if the minimum purchase volumes are not met as of September 30, 2022:


in thousands	Purchase Commitments		Liquidated Damages
2023	$	665,871	$	30,799
2024	768,898		122,157
2025	170,295		33,321
2026 and thereafter	4,050		2,502
Total	$	1,609,114	$	188,779

Schedule of Product Warranty Liability

The warranty liability was recorded as follows (in thousands):


	Fiscal year ended September 30,
	2022		2021
Beginning balance, warranty liability	$	—	$	—
Increase (decrease) to ST warranty accrual estimate	786.3		—
Increase (decrease) to LT warranty accrual estimate	838.7		—
Ending balance, aggregate warranty liability	$	1,625.0	$	—

Related-Party Transactions (Tables)

12 Months Ended

Sep. 30, 2022

Schedule of Related Party Transactions

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


in thousands	September 30,
	2022		2021
Accounts receivable	$	91,879	$	26,292
Unbilled receivables	20,148		7,070
Total receivables from related parties	$	112,027	$	33,362
Accounts payable	$	2,550	$	4,510
Deferred revenue	300,697		220,122
Accrued liabilities	3,101		3,293
Total payables and deferred revenue with related parties	$	306,348	$	227,925

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


in thousands	Fiscal Year Ended September 30,
	2022		2021		2020
Revenue	$	646,332	$	86,711	$	159,647
Cost of goods and services	(19,753)		(27,673)		(14,399)
Research and development expenses	(141)		(356)		(511)
Sales and marketing expenses	(1,679)		(1,991)		(2,105)
General and administrative expenses	(4,918)		(1,172)		(1,656)

Stock-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Share-Based Payment Arrangement, Options

The following table summarizes the unit option activity under the Option Plan:


	Number of options	Weighted average exercise price per share		Weighted average remaining contractual term (years)
Outstanding as of October 1, 2021	11,974,343	$	2.45	9.51
Exercised	(1,131,765)	2.45
Forfeited	(1,919,457)	2.45
Outstanding and exercisable as of September 30, 2022	8,923,121	2.45		8.51

The following table summarizes the unit option activity under the 2021 Plan


			Number of RSUs
Outstanding as of October 1, 2021			—
Granted			2,377,799
Exercised			—
Forfeited			(220,906)
Outstanding and exercisable as of September 30, 2022			2,156,893

Share-Based Payment Arrangement, Phantom Unit Activity

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


						Number of Units
Outstanding – As of September 30, 2021						2,169,060
Granted						—
Exercised						(1,427,662)
Forfeited						(135,807)
Outstanding as of September 30, 2022						605,591

Schedule of Stock Based Compensation Expense

The stock-based compensation expense was recorded as follows (in thousands):


	2022		2021		2020
Cost of goods and services	$	8,523	$	—	$	—
Research and development	$	7,846	$	—	$	—
Sales and marketing	$	4,149	$	—	$	—
General and administrative	$	23,613	$	—	$	—
Total stock-based compensation expense	$	44,131	$	—	$	—

Schedule I Condensed Financial Information of Registrant (Tables)

12 Months Ended

Sep. 30, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

CONDENSED BALANCE SHEETS

(PARENT COMPANY ONLY)

(U.S. Dollars in Thousands, except share and per share amounts)


	September 30,
	2022		2021
Assets
Current assets:
Cash and cash equivalents	$	—	$	—
Other receivables	19		—
Total current assets	19		—
Non-current assets:
Deferred income tax asset, net	—		—
Investment in subsidiaries	847,356		—
Total non-current assets	847,356		—
Total assets	$	847,375	$	—
Liabilities, stockholders’ equity
Current liabilities:
Accounts payable - related party	208		—
Total current liabilities	208		—
Total liabilities	208		—
Commitments and Contingencies (Note 3)
Stockholders’ Equity:
Preferred stock, $0.00001 per share, 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2022 and 2021	—		—
Class A common stock, $0.00001 par value per share, 1,200,000,000 shares authorized; 115,424,025 shares issued and 114,873,121 shares outstanding as of September 30, 2022; no shares issued and outstanding as of September 30, 2021	—		—
Class B-1 common stock, $0.00001 par value per share, 200,000,000 shares authorized; 58,586,695 shares issued and outstanding as of September 30, 2022; no shares issued and outstanding as of September 30, 2021	—		—
Class B-2 common stock, $0.00001 par value per share, 200,000,000 shares authorized; no shares issued and outstanding as of September 30, 2022 and 2021	—		—
Treasury stock, at cost	(5,013)		—
Additional paid-in capital	951,760		—
Distribution from Fluence Energy, LLC	5,013		—
Contribution to Fluence Energy, LLC	(3,103)
Accumulated deficit	(101,490)		—
Total stockholders’ equity	847,167		—
Total liabilities, stockholders’ equity	$	847,375	$	—

Condensed Statement of Operations and Comprehensive Loss

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(PARENT COMPANY ONLY)

(U.S. Dollars in Thousands)


	Fiscal Year Ended September 30,
	2022		2021		2020
Revenue	$	—	$	—	$	—
Revenue from related parties	—		—		—
Total Revenue	—		—		—
Operating expenses:
General and administrative	855		—		—
Interest expense	—		—		—
Equity in net (loss) of subsidiaries	(103,630)		—		—
Loss before income taxes	(104,485)		—		—
Income tax expense	—		—		—
Net loss	$	(104,485)	$	—	$	—
Net Loss attributable to non-controlling interest	—		—		—
Net loss attributable to Fluence Energy, Inc.	$	(104,485)	$	—	$	—

Foreign currency translation gain, net of income tax benefit (expense) of $0 in each period	2,854		—		—
Actuarial gain on pension liabilities, net of income tax (expense) benefit of $0 in each period	141		—		—
Total other comprehensive income	2,995		—		—
Total comprehensive loss	$	(101,490)	$	—	$	—

Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS

(PARENT COMPANY ONLY)

(U.S. Dollars in Thousands)


	Fiscal Year Ended September 30,
	2022		2021		2020
Operating activities
Net loss	$	(104,485)	$	—	$	—
Adjustments to reconcile net loss to net cash (used in) operating activities:



Equity in net loss of subsidiaries	103,630		—		—
Stock-based compensation expense	666		—		—


Changes in operating assets and liabilities:
Other receivables	(19)		—		—






Accounts payable - related party	208		—		—








Net cash (used in) operating activities	—		—		—
Investing activities
Purchase of LLC interests in Fluence Energy, LLC	(947,990)		—		—



Net cash (used in) investing activities	(947,990)		—		—
Financing activities






Distributions from Fluence Energy, LLC	5,013		—		—
Repurchase of Class A common stock placed into treasury	(5,013)		—		—
Proceeds from exercise of stock options	3,103		—		—
Contributions to Fluence Energy, LLC	(3,103)		—		—

Proceeds from issuance of Class A common stock sold in an IPO, net of underwriting discounts and commissions	947,990		—		—



Net cash provided by financing activities	947,990		—		—
Effect of exchange rate changes on cash and cash equivalents	—		—		—
Net increase in cash and cash equivalents	—		—		—
Cash, cash equivalents, as of the beginning of the period	—		—		—
Cash, cash equivalents, as of the end of the period	$	—	$	—	$	—

Organization and Operations (Details) $ / shares in Units, $ in Millions				12 Months Ended
	Jul. 07, 2022 shares	Nov. 01, 2021 USD ($) $ / shares shares	Dec. 27, 2020 USD ($) shares	Sep. 30, 2022 segment $ / shares shares	Jun. 30, 2022 $ / shares 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
Common Class A
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		$ 0.00001	$ 0.00001
Class B-1 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
IPO \| Common Class A
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 \| $		$ 935.8
Over-Allotment Option \| Common Class A
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Shares sold in offering (in shares)		4,650,000
Redemption \| Common Class A
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Shares sold in offering (in shares)	58,586,695
Fluence Energy, LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment owned (in shares)		54,143,275
Fluence Energy, LLC percentage owned		31.60%		66.22%
Founders percentage owned		68.40%
Fluence Energy, LLC \| Founders
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 \| Siemens Industry
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment owned (in shares)					58,586,695
Investment owned percentage					66.08%
Fluence Energy, Inc \| Founders \| 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, Inc \| Third Party Investor
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment owned percentage		65.80%
Fluence Energy, Inc \| Third Party Investor \| Common Class A
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 \| Qatar Holding LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment owned percentage		34.20%
Fluence Energy, Inc \| Qatar Holding LLC \| Common Class A
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment owned (in shares)				18,493,275
QIA Florence Holdings LLC (QFH)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment amount \| $			$ 125.0
Class B units issued (in shares)			18,493,275

Summary of Significant Accounting Policies and Estimates - Non-controlling Interest (Details)	Sep. 30, 2022	Nov. 01, 2021
Fluence Energy, LLC
Noncontrolling Interest [Line Items]
Fluence Energy, LLC percentage owned	66.22%	31.60%

Summary of Significant Accounting Policies and Estimates - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 357,296	$ 36,829
Restricted cash	62,425	1,240
Restricted cash included in “Other non-current assets”	10,000	0
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$ 429,721	$ 38,069	$ 95,051	$ 87,020

Summary of Significant Accounting Policies and Estimates - Cash Restrictions (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 62,425	$ 1,240
Restricted cash included in “Other non-current assets”	10,000	0
Total restricted cash	72,425	1,240
Credit Card Program Collateral
Cash and Cash Equivalents [Line Items]
Restricted cash	1,580	917
Outstanding Bank Guarantee Collateral
Cash and Cash Equivalents [Line Items]
Restricted cash	60,845	323
Surety Program Collateral
Cash and Cash Equivalents [Line Items]
Restricted cash included in “Other non-current assets”	$ 10,000	$ 0

Summary of Significant Accounting Policies and Estimates - Supply Chain Financing (Details) $ in Millions	Sep. 30, 2022 USD ($)
Affiliated Entity
Related Party Transaction [Line Items]
Guarantees issued	$ 100.0
Siemens Industry \| Affiliated Entity
Related Party Transaction [Line Items]
Guarantees issued	50.0
AES Grid Stability \| 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	$ 37.4

Summary of Significant Accounting Policies and Estimates - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Advertising costs	$ 1.4	$ 0.8	$ 0.7

Summary of Significant Accounting Policies and Estimates - Earnings (Loss) per Share (Details) $ / shares in Units, $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Oct. 31, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)
Share-Based Payment Arrangement [Abstract]
Stock split conversion ratio	14.79
Numerator:
Net loss \| $	$ (20,317)	$ (268,860)	$ (289,177)	$ (162,003)	$ (46,710)
Net Loss attributable to non-controlling interest \| $			(184,692)	$ (162,003)	$ (46,710)
Net loss attributable to Fluence Energy, Inc. \| $			$ (104,485)
Denominator:
Weighted average number of Class A common shares outstanding, basic (in shares)			69,714,054
Weighted average number of Class A common shares outstanding, diluted (in shares)			69,714,054
Loss per share of Class A common stock, basic (in usd per share) \| $ / shares			$ (1.50)
Loss per share of Class A common stock, diluted (in usd per share) \| $ / shares			$ (1.50)
Common Class B-1
Share-Based Payment Arrangement [Abstract]
Antidilutive security			58,586,695,000
Stock options
Share-Based Payment Arrangement [Abstract]
Antidilutive security			8,923,121,000
Phantom Share Units (PSUs)
Share-Based Payment Arrangement [Abstract]
Antidilutive security			605,591,000
Restricted Stock Units (RSUs)
Share-Based Payment Arrangement [Abstract]
Antidilutive security			2,156,893,000

Summary of Significant Accounting Policies and Estimates - Short-term Investments (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2022 USD ($)
Short-Term Investments [Roll Forward]
Beginning balance	$ 0
Contributions / (withdrawals)	110,143
Changes in fair market value	212
Ending balance	$ 110,355

Summary of Significant Accounting Policies and Estimates - Reclassification (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Reclassification [Line Items]
Other current assets	$ (26,635)	$ (31,162)
Trade receivables	86,770	$ 57,419
Revision of Prior Period, Reclassification, Adjustment
Reclassification [Line Items]
Other current assets	10,800
Trade receivables	$ 10,800

Summary of Significant Accounting Policies and Estimates - Recent Accounting Standards Adopted (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease right of use assets	$ 2,403	$ 3,200	$ 0
Lease liabilities	$ 2,743	$ 3,700

Revenue from Contracts with Customers - Revenue by Contracts (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 1,198,603	$ 680,766	$ 561,323
Revenue from sale of energy storage products
Disaggregation of Revenue [Line Items]
Total Revenue	1,180,093	673,754	556,681
Revenue from services
Disaggregation of Revenue [Line Items]
Total Revenue	15,912	5,706	3,773
Revenue from digital applications and solutions
Disaggregation of Revenue [Line Items]
Total Revenue	2,472	952	0
Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 126	$ 354	$ 869

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue from Contracts with Customers - Geographical Regions (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 1,198,603	$ 680,766	$ 561,323
Americas (North, Central and South America)
Disaggregation of Revenue [Line Items]
Total Revenue	837,935	487,572	336,610
APAC (Asia Pacific)
Disaggregation of Revenue [Line Items]
Total Revenue	178,233	134,874	192,679
EMEA (Europe, Middle-East and Africa)
Disaggregation of Revenue [Line Items]
Total Revenue	182,435	58,320	32,034
United States of America
Disaggregation of Revenue [Line Items]
Total Revenue	$ 582,300	$ 468,400	$ 318,900

- Definition

+ References

+ Details

Revenue from Contracts with Customers - Additional Information (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2022 USD ($) manufacturer	Sep. 30, 2021 USD ($)	Sep. 30, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of contract manufacturers \| manufacturer	1
Amount of remaining performance obligations	$ 2,203,900
Change in estimate of transaction price	$ 75,500	$ 52,800
Total Revenues \| Customer Concentration Risk \| Three Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage		10.00%	10.00%
Total Revenues \| Customer Concentration Risk \| Two Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage	10.00%
Total Revenues \| Customer Concentration Risk \| Top Five Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage	77.00%
Total Revenues \| Related Party Concentration Risk \| Affiliated Entity
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage	54.00%
Cost of Goods and Service Benchmark \| Supplier Concentration Risk \| Supplier One
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage	64.00%
Cost of Goods and Service Benchmark \| Supplier Concentration Risk \| Supplier Two
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage	28.00%
Cost of Goods and Service Benchmark \| Supplier Concentration Risk \| Supplier Three
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage	8.00%
Revenue, Remaining Performance Obligation Benchmark \| Customer Concentration Risk \| Top Five Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue percentage	61.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount of remaining performance obligations	$ 2,029,300
Percentage of remaining performance obligations	92.00%
Expected time period of satisfaction (in years)	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected time period of satisfaction (in years)	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount of remaining performance obligations	$ 174,600
Expected time period of satisfaction (in years)

Revenue from Contracts with Customers - Contract Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Consolidated Entities, Excluding Affiliated Entities
Contract With Customer, Liability [Roll Forward]
Deferred revenue at beginning of period	$ 71,365	$ 123,841	$ 52,980
Additions	269,883	69,289	120,852
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(68,175)	(121,765)	(49,991)
Deferred revenue end of period	273,073	71,365	123,841
Affiliated Entity
Contract With Customer, Liability [Roll Forward]
Deferred revenue at beginning of period	220,122	11,425	60,968
Additions	300,577	212,344	10,464
Revenue recognized related to amounts that were included in beginning balance of deferred revenue	(220,002)	(3,647)	(60,007)
Deferred revenue end of period	$ 300,697	$ 220,122	$ 11,425

Revenue from Contracts with Customers - Remaining Performance Obligations (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount of remaining performance obligations	$ 2,203,900
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount of remaining performance obligations	$ 2,029,300
Expected time period of satisfaction (in years)	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected time period of satisfaction (in years)	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount of remaining performance obligations	$ 174,600
Expected time period of satisfaction (in years)

Business Combination - Narrative (Details) - Nispera - USD ($) $ in Thousands, shares in Millions	1 Months Ended
	Oct. 31, 2023	Apr. 30, 2022
Business Acquisition [Line Items]
Investment amount		$ 33,445
Cash paid to investors		27,100
Assumption of debt		$ 2,600
Forecast
Business Acquisition [Line Items]
Cash paid to investors	$ 3,700
Restricted Stock Units (RSUs)
Business Acquisition [Line Items]
Class B units issued (in shares)		0.5
Service requirement (in years)		3 years

Business Combination - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	1 Months Ended
	Apr. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Recognized amounts of identifiable assets and liabilities assumed:
Goodwill		$ 24,851	$ 9,176	$ 4,731
Nispera
Business Acquisition [Line Items]
Investment amount	$ 33,445
Recognized amounts of identifiable assets and liabilities assumed:
Cash	489
Accounts receivables and other assets	189
Accounts payable and other liabilities	(386)
Deferred revenue	(679)
Deferred tax liabilities	(3,454)
Total net identifiable assets acquired and liabilities assumed	16,909
Goodwill	16,536
Trademarks \| Nispera
Recognized amounts of identifiable assets and liabilities assumed:
Intangible assets	$ 750
Useful life (in years)	11 years
Developed technology \| Nispera
Recognized amounts of identifiable assets and liabilities assumed:
Intangible assets	$ 16,500
Useful life (in years)	12 years
Customer relationship \| Nispera
Recognized amounts of identifiable assets and liabilities assumed:
Intangible assets	$ 3,500
Useful life (in years)	6 years

Inventory, Net (Details) - USD ($) $ in Thousands	12 Months Ended
Inventory, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Inventory [Line Items]
Cost	$ 654,041	$ 404,014
Provision	(1,306)	(14,227)
Net	652,735	389,787
Inventory valuation reserves, inventory write-down	13,000
2021 Cargo Loss Incident
Inventory [Line Items]
Provision		(13,000)
Cubes, batteries, and other equipment
Inventory [Line Items]
Cost	653,059	402,157
Provision	(1,294)	(12,980)
Net	651,765	389,177
Cubes, batteries, and other equipment \| 2021 Cargo Loss Incident
Inventory [Line Items]
Provision		(13,000)
Shipping containers and spare parts
Inventory [Line Items]
Cost	982	1,857
Provision	(12)	(1,247)
Net	$ 970	$ 610

Other Current Assets (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
Other Current Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Oct. 31, 2021	Sep. 30, 2021	Sep. 30, 2022
Offsetting Assets [Line Items]
Taxes recoverable			$ 3,294	$ 14,378
Receivable from insurance			10,000	0
Deferred equity issuance costs			7,103	0
Advance payments			3,601	1,813
Prepaid expenses			2,480	2,095
Prepaid insurance			0	1,549
Derivative Asset			0	5,574
Other			4,684	1,226
Total			31,162	$ 26,635
2021 Cargo Loss Incident
Offsetting Assets [Line Items]
Insurance proceed collected	$ 2,500	$ 7,500	$ 10,000

Property and Equipment, Net - Amortized Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Cost	$ 18,650	$ 10,715
Accumulated Depreciation	(4,895)	(2,509)
Net	13,755	8,206
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Cost	4,229	4,642
Accumulated Depreciation	(1,426)	(976)
Net	2,803	3,666
Construction in Progress
Property, Plant and Equipment [Line Items]
Cost	6,808	855
Accumulated Depreciation	0	0
Net	6,808	855
IT Equipment
Property, Plant and Equipment [Line Items]
Cost	2,416	1,296
Accumulated Depreciation	(851)	(424)
Net	1,565	872
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Cost	1,147	1,239
Accumulated Depreciation	(495)	(271)
Net	652	968
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Cost	1,482	1,268
Accumulated Depreciation	(920)	(510)
Net	562	758
Other
Property, Plant and Equipment [Line Items]
Cost	2,568	1,415
Accumulated Depreciation	(1,203)	(328)
Net	$ 1,365	$ 1,087

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation	$ 2.4	$ 1.4	$ 0.5

Property and Equipment, Net - Useful Lives (Details)	12 Months Ended
Property and Equipment, Net - Useful Lives (Details)	Sep. 30, 2022
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Depreciable life	10 years
IT Equipment
Property, Plant and Equipment [Line Items]
Depreciable life	5 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Depreciable life	5 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Depreciable life	10 years
Other
Property, Plant and Equipment [Line Items]
Depreciable life	2 years

Leases - Narrative (Details)	Sep. 30, 2022
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	3 years

Leases - Lease Cost (Details) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
Operating lease cost	$ 1,713
Variable lease cost	765
Sublease income	(182)
Total lease cost	$ 2,296

Leases - Supplemental Information (Details) $ in Thousands	12 Months Ended
Leases - Supplemental Information (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurements of lease liabilities	$ 1,880
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 918
Weighted average remaining lease term - operating leases	1 year 4 months 24 days
Weighted average discount rate - operating leases	3.17%

Leases - Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Oct. 01, 2021
Leases [Abstract]
2023	$ 1,797
2024	724
2025	274
2026	38
2027	0
Thereafter	0
Total lease payments	2,833
Less: Interest	(90)
Present value of lease liabilities	$ 2,743	$ 3,700

Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Cost	$ 66,667	$ 46,476
Accumulated Amortization	(14,971)	(10,419)
Net	$ 51,696	36,057
Patents and licenses
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Lives	14 years
Cost	$ 28,551	32,982
Accumulated Amortization	(9,033)	(9,207)
Net	$ 19,518	23,775
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Lives	12 years
Cost	$ 28,347	12,600
Accumulated Amortization	(2,720)	(1,050)
Net	25,627	11,550
Developed technology \| Nispera
Finite-Lived Intangible Assets [Line Items]
Net	$ 16,500
Customer relationship
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Lives	6 years
Cost	$ 3,340	0
Accumulated Amortization	(263)	0
Net	3,077	0
Customer relationship \| Nispera
Finite-Lived Intangible Assets [Line Items]
Net	$ 3,500
Tradenames/Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Lives	11 years
Cost	$ 5,216	0
Accumulated Amortization	(2,679)	0
Net	2,537	0
Tradenames/Trademarks \| Nispera
Finite-Lived Intangible Assets [Line Items]
Net	$ 800
Other
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Lives	6 years
Cost	$ 1,213	894
Accumulated Amortization	(276)	(162)
Net	$ 937	$ 732

Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4.6	$ 3.6	$ 2.5

Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 5,677
2024	5,672
2025	5,672
2026	5,131
2027	4,991
Thereafter	24,553
Net	51,696	$ 36,057
Amortization expense	$ 4,600	$ 3,600	$ 2,500

Goodwill - Narrative (Details) - USD ($)	12 Months Ended
Goodwill - Narrative (Details) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 0	$ 0

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Goodwill [Roll Forward]
Goodwill, Beginning of the period	$ 9,176	$ 4,731
Foreign currency adjustment	(861)	(4)
Acquisition related goodwill	16,536	4,449
Goodwill, End of the period	$ 24,851	$ 9,176

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Accruals and Provisions (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Payables and Accruals [Abstract]
Accruals	$ 152,996	$ 155,963
Provisions for expected project losses	30,032	30,180
Other project related provisions	1,625	257
Total	184,653	186,400
Less: non-current portion	(839)	(257)
Accruals and provisions	$ 183,814	$ 186,143

Debt - Revolving Credit Facility (Details) - The Revolver - Line of Credit		12 Months Ended
	Nov. 01, 2021 USD ($) bank qtr	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
Line of Credit Facility [Line Items]
Letters of credit outstanding		$ 27,100,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing amount	$ 190,000,000		$ 200,000,000
Number of other banks in lenders party \| bank	5
Increase in borrowing capacity			$ 10,000,000
Commitment fee percentage	0.55%
Covenant investment maximum threshold		$ 10,500,000
Covenant investment threshold, percentage of consolidated assets		1.50%
Covenant, total liquidity, maximum		$ 600,000,000
Minimum liquidity and gross revenue requirement of consolidated EBITDA	$ 150,000,000
EBITDA threshold period \| qtr	4
Outstanding borrowings		0
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR) Or Euro Interbank Offered Rate (EURIBOR)
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]
Letter of credit participation fee	2.75%
Current borrowing capacity		$ 172,900,000

Debt - Line of Credit (Details) - USD ($) $ in Thousands		12 Months Ended
Debt - Line of Credit (Details) - USD ($) $ in Thousands	Nov. 01, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020	Oct. 31, 2021
Line of Credit Facility [Line Items]
Proceeds from issuance of Class A common stock sold in an IPO, net of underwriting discounts and commissions		$ 50,000	$ 50,000	$ 14,500
Line of Credit \| Uncommitted Line Of Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing amount					$ 50,000
Outstanding borrowings			$ 50,000
Weighted average annual interest rate		2.83%
Proceeds from issuance of Class A common stock sold in an IPO, net of underwriting discounts and commissions	$ 50,000

- 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

Income Taxes - Components of Loss Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Domestic	$ (213,764)	$ (158,876)	$ (34,929)
Foreign	(74,056)	(1,298)	(5,360)
Loss before income taxes	$ (287,820)	$ (160,174)	$ (40,289)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Current income tax expense (benefit):
Domestic	$ 0	$ 0	$ 0
Foreign	1,234	3,079	1,099
Deferred income tax expense (benefit):
Domestic	0	0	0
Foreign	(243)	(1,346)	1,900
Withholding income tax expense:
Domestic	0	0	0
Foreign	366	96	3,422
Income tax expense	$ 1,357	$ 1,829	$ 6,421

Income Taxes - Effective Income Tax Rate (Details)	12 Months Ended
Income Taxes - Effective Income Tax Rate (Details)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Statutory rate	21.00%	21.00%	21.00%
State taxes	1.70%	0.00%	0.00%
Flow-through losses	(9.50%)	(20.80%)	(18.20%)
Foreign rate differential	1.00%	0.50%	1.40%
Withholding taxes	(0.10%)	(0.10%)	(8.50%)
Valuation allowance	(15.20%)	(2.40%)	(10.00%)
Permanent differences	1.20%	0.80%	(1.20%)
Other items, net	(0.60%)	(0.10%)	(0.40%)
Effective Tax Rate	(0.50%)	(1.10%)	(15.90%)

Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Deferred Tax Assets
Inventory	$ 35,756	$ 2,687
Investment in Fluence Energy, LLC	293,732	0
Deferred revenue	10,465	9,081
Tax loss carryforwards	55,859	11,545
Trade receivables	0	9
Unrealized foreign exchange losses	3,517	1,060
Share-based compensation	4,436	0
Other deferred tax assets	223	0
Total deferred tax assets	403,988	24,382
Valuation allowance	(354,404)	(11,632)
Net deferred tax assets	49,584	12,750
Deferred Tax Liabilities
Trade receivables	(16,330)	(5,240)
Intangible assets	(3,848)	(150)
Accrued and other liabilities	(29,932)	(6,176)
Unrealized foreign exchange gains	(1,118)	0
Other deferred tax liabilities	(204)	0
Total deferred tax liabilities	(51,432)	(11,566)
Total net deferred tax assets (liabilities)	$ (1,848)
Total net deferred tax assets (liabilities)		$ 1,184

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 184,400
Valuation allowance	354,404	$ 11,632
Increase (decrease) in valuation allowance	342,800
Equity related to IPO and other organizational transactions
Operating Loss Carryforwards [Line Items]
Increase (decrease) in valuation allowance	302,500
Current year activity in jurisidictions
Operating Loss Carryforwards [Line Items]
Increase (decrease) in valuation allowance	43,600
Currency translation adjustment
Operating Loss Carryforwards [Line Items]
Increase (decrease) in valuation allowance	(3,200)
Increase in equity
Operating Loss Carryforwards [Line Items]
Increase (decrease) in valuation allowance	(3,000)
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	153,700	$ 66,900
Operating loss carryforwards subject to expiration	6,100
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	105,800
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	78,600
Operating loss carryforwards subject to expiration	$ 66,800

Commitment and Contingencies - Purchase Commitments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Purchase Commitments
2023	$ 665,871
2024	768,898
2025	170,295
2026 and thereafter	4,050
Total	1,609,114
Liquidated Damages
Liquidated Damages
2023	30,799
2024	122,157
2025	33,321
2026 and thereafter	2,502
Total	$ 188,779

Commitment and Contingencies - Narrative (Details) - USD ($)	1 Months Ended		12 Months Ended
	Apr. 30, 2022	Oct. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Apr. 28, 2021	Sep. 30, 2020
Loss Contingencies [Line Items]
Advances to suppliers			$ 54,765,000	$ 9,741,000
Advances to suppliers			8,750,000	0
Warrant liability			1,625,000	0		$ 0
Inventory valuation reserves			1,306,000	14,227,000
Inventory valuation reserves, inventory write-down			13,000,000
Cost related to batteries purchased increase			66,100,000
Gain contingency			20,000,000
Claim receivable			3,100,000
Inventories
Loss Contingencies [Line Items]
Cost related to batteries purchased increase			31,800,000
Cost of goods and services
Loss Contingencies [Line Items]
Cost related to batteries purchased increase			17,900,000
Inventory capacity guarantee
Loss Contingencies [Line Items]
Advance payment			60,000,000.0
Advances to suppliers			51,300,000
Advances to suppliers			$ 8,800,000
Minimum
Loss Contingencies [Line Items]
Limited warranty period			1 year
Maximum
Loss Contingencies [Line Items]
Limited warranty period			5 years
2021 Cargo Loss Incident
Loss Contingencies [Line Items]
Inventory valuation reserves				13,000,000
Insurance proceeds expected					$ 10,000,000
Insurance proceed collected	$ 2,500,000	$ 7,500,000		$ 10,000,000

Commitment and Contingencies - Warranty Liabilities (Details) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning balance, warranty liability	$ 0	$ 0
Increase (decrease) to ST warranty accrual estimate	786,300	0
Increase (decrease) to LT warranty accrual estimate	838,700	0
Ending balance, aggregate warranty liability	$ 1,625,000	$ 0

Related-Party Transactions - Additional Information (Details) - USD ($) $ in Thousands					1 Months Ended		12 Months Ended
	Aug. 11, 2021	Jun. 03, 2021	May 03, 2021	Apr. 28, 2021	Jun. 30, 2021	Jan. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2022
Related Party Transaction [Line Items]
Capital contribution							$ 6,280	$ 2,500
Borrowing from related parties							50,000		$ 0
Provision for receivables from related parties							0		$ 0
Purchases from related parties							$ 1,500	$ 1,900
AES Grid Stability \| Fluence Energy, Inc \| Common Class B-1
Related Party Transaction [Line Items]
Investment owned (in shares)									58,586,695
Siemens Industry \| Fluence Energy, Inc \| Common Class A
Related Party Transaction [Line Items]
Investment owned (in shares)									58,586,695
Affiliated Entity \| AES Grid Stability
Related Party Transaction [Line Items]
Capital contribution						$ 2,500
Borrowing from related parties	$ 25,000			$ 25,000
Subordinated promissory note period				1 year
Subordinated promissory note, annual interest percentage	2.86%			2.86%
Affiliated Entity \| Siemens Industry
Related Party Transaction [Line Items]
Capital contribution					$ 6,300
Borrowing from related parties	$ 25,000	$ 25,000	$ 25,000
Subordinated promissory note period		1 year	1 year
Subordinated promissory note, annual interest percentage	2.86%	2.86%	2.86%

Related-Party Transactions - Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Related Party Transactions [Abstract]
Accounts receivable	$ 91,879	$ 26,292
Unbilled receivables	20,148	7,070
Total receivables from related parties	112,027	33,362
Accounts payable	2,550	4,510
Deferred revenue	300,697	220,122
Accrued liabilities	3,101	3,293
Total payables and deferred revenue with related parties	$ 306,348	$ 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
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Topic 210
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Related-Party Transactions - Statement of Operations and Comprehensive Loss Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Related Party Transactions [Abstract]
Revenue	$ 646,332	$ 86,711	$ 159,647
Cost of goods and services	(19,753)	(27,673)	(14,399)
Research and development expenses	(141)	(356)	(511)
Sales and marketing expenses	(1,679)	(1,991)	(2,105)
General and administrative expenses	$ (4,918)	$ (1,172)	$ (1,656)

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
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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
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plan (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Retirement Benefits [Abstract]
Employer matching contribution, percent of match	100.00%
Employer matching contribution, percent of employees' annual salary	5.00%
Company contribution	$ 4.1	$ 1.9	$ 0.9

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2022	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 44,131	$ 0	$ 0
Modification stock based compensation expense		$ 5,700
Installment one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			33.33%
Installment two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			33.33%
Installment three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			33.33%
The Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)			8,923,121	11,974,343
Weighted average exercise price per share (usd per share)			$ 2.45	$ 2.45
Aggregate intrinsic value, outstanding			$ 108,300
Unrecognized stock compensation expense, options			$ 1,700
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)			2,156,893	0
Vesting period (in years)			2 years 6 months
Common stock issued (in shares)			9,500,000
Unrecognized stock compensation expense			$ 26,900
Nispera \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service requirement (in years)	3 years
Stock issued (in shares)	500,000
Stock-based compensation expense			$ 6,900
Stock options \| The Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			1 year 6 months
Stock options \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service requirement (in years)			3 years
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			1 year 2 months 12 days
Equity other than options, outstanding (in shares)			605,591	2,169,060
Satisfaction of a performance condition period			6 months
Weighted average grant date fair value (usd per share)			$ 2.20
Unrecognized stock compensation expense, excluding options			$ 8,400
Vested in period, fair value			3,100
Cash used to settle award			$ 3,000
Restricted Stock Units (RSUs) \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (usd per share)			$ 20.51

Stock-Based Compensation - Options (Details) - $ / shares	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
The Option Plan
Number of options
Outstanding, beginning balance (in shares)	11,974,343
Exercised (in shares)	(1,131,765)
Forfeited (in shares)	(1,919,457)
Outstanding, ending balance (in shares)	8,923,121	11,974,343
Exercisable (in shares)	8,923,121
Weighted average exercise price per share
Outstanding, beginning balance (usd per share)	$ 2.45
Exercised (usd per share)	2.45
Forfeited (usd per share)	2.45
Outstanding, ending balance (usd per share)	2.45	$ 2.45
Exercisable (usd per share)	$ 2.45
Weighted average remaining contractual term, outstanding (in years)	8 years 6 months 3 days	9 years 6 months 3 days
Weighted average remaining contractual term, exercisable (in years)	8 years 6 months 3 days
2021 Plan
Number of options
Outstanding, beginning balance (in shares)	0
Granted (in shares)	2,377,799
Exercised (in shares)	0
Forfeited (in shares)	(220,906)
Outstanding, ending balance (in shares)	2,156,893	0
Exercisable (in shares)	2,156,893

Stock-Based Compensation - Phantom Units (Details) - Phantom Share Units (PSUs)	12 Months Ended
	Sep. 30, 2022 shares
Number of Units
Outstanding, beginning balance (in shares)	2,169,060
Granted (in shares)	0
Exercised (in shares)	(1,427,662)
Forfeited (in shares)	(135,807)
Outstanding, ending balance (in shares)	605,591

Stock-Based Compensation - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 44,131	$ 0	$ 0
Cost of goods and services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	8,523	0	0
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	7,846	0	0
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	4,149	0	0
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 23,613	$ 0	$ 0

Schedule I Condensed Financial Information of Registrant - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Current assets:
Cash and cash equivalents	$ 357,296	$ 36,829
Total current assets	1,601,533	661,515
Non-current assets:
Deferred income tax asset, net	3,028	1,184
Total non-current assets	144,121	56,160
Total assets	1,745,654	717,675
Current liabilities:
Total current liabilities	1,109,463	771,493
Total liabilities	1,116,446	773,874
Stockholders’ Equity/Members’ equity (deficit):
Preferred stock, $0.00001 per share, 10,000,000 share authorized; no shares issued and outstanding as of September 30, 2022 and 2021	0
Treasury stock, at cost	(5,013)
Additional paid-in capital	542,602
Accumulated deficit	(104,544)	(279,301)
Total stockholders' equity attributable to Fluence Energy Inc	435,830
Total liabilities, stockholders’ equity, mezzanine equity, and members’ equity (deficit)	1,745,654	717,675
Parent
Current assets:
Cash and cash equivalents	0	0
Other receivables	19	0
Total current assets	19	0
Non-current assets:
Deferred income tax asset, net	0	0
Investment in subsidiaries	847,356	0
Total non-current assets	847,356	0
Total assets	847,375	0
Current liabilities:
Accounts payable - related party	208	0
Total current liabilities	208	0
Total liabilities	208	0
Stockholders’ Equity/Members’ equity (deficit):
Preferred stock, $0.00001 per share, 10,000,000 share authorized; no shares issued and outstanding as of September 30, 2022 and 2021	0	0
Treasury stock, at cost	(5,013)	0
Additional paid-in capital	951,760	0
Distribution from Fluence Energy, LLC	5,013	0
Contribution to Fluence Energy, LLC	(3,103)
Accumulated deficit	(101,490)	0
Total stockholders' equity attributable to Fluence Energy Inc	847,167	0
Total liabilities, stockholders’ equity, mezzanine equity, and members’ equity (deficit)	847,375	0
Common Class A
Stockholders’ Equity/Members’ equity (deficit):
Common stock	1
Common Class A \| Parent
Stockholders’ Equity/Members’ equity (deficit):
Common stock	0	0
Common Class B-1
Stockholders’ Equity/Members’ equity (deficit):
Common stock	0
Common Class B-1 \| Parent
Stockholders’ Equity/Members’ equity (deficit):
Common stock	0	0
Class B-2 common stock
Stockholders’ Equity/Members’ equity (deficit):
Common stock	0
Class B-2 common stock \| Parent
Stockholders’ Equity/Members’ equity (deficit):
Common stock	$ 0	$ 0

Schedule I Condensed Financial Information of Registrant - Condensed Balance Sheet (Parenthetical) (Details) - $ / shares	Sep. 30, 2022	Jun. 30, 2022	Nov. 01, 2021	Sep. 30, 2021
Condensed Balance Sheet Statements, Captions [Line Items]
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			0
Preferred stock, shares outstanding (in shares)	0			0
Parent
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock, par value (in usd per share)	$ 0.00001			$ 0.00001
Preferred stock, shares authorized (in shares)	10,000,000			10,000,000
Preferred stock, shares issued (in shares)	0			0
Preferred stock, shares outstanding (in shares)	0			0
Common Class A
Condensed Balance Sheet Statements, Captions [Line Items]
Par value, Class A common stock (in usd per share)	$ 0.00001	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	1,200,000,000
Common stock, shares outstanding (in shares)	114,873,121			0
Common stock, shares issued (in shares)	115,424,025			0
Common Class A \| Parent
Condensed Balance Sheet Statements, Captions [Line Items]
Par value, Class A common stock (in usd per share)	$ 0.00001		$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	1,200,000,000			1,200,000,000
Common stock, shares outstanding (in shares)	114,873,121			0
Common stock, shares issued (in shares)	115,424,025			0
Common Class B-1
Condensed Balance Sheet Statements, Captions [Line Items]
Par value, Class A common stock (in usd per share)	$ 0.00001
Common stock, shares authorized (in shares)	200,000,000
Common stock, shares outstanding (in shares)	58,586,695			0
Common stock, shares issued (in shares)	58,586,695			0
Common Class B-1 \| Parent
Condensed Balance Sheet Statements, Captions [Line Items]
Par value, Class A common stock (in usd per share)	$ 0.00001			$ 0.00001
Common stock, shares authorized (in shares)	200,000,000			200,000,000
Common stock, shares outstanding (in shares)	58,586,695			0
Common stock, shares issued (in shares)	58,586,695			0
Class B-2 common stock
Condensed Balance Sheet Statements, Captions [Line Items]
Par value, Class A common stock (in usd per share)	$ 0.00001
Common stock, shares authorized (in shares)	200,000,000
Common stock, shares outstanding (in shares)	0			0
Common stock, shares issued (in shares)	0			0
Class B-2 common stock \| Parent
Condensed Balance Sheet Statements, Captions [Line Items]
Par value, Class A common stock (in usd per share)	$ 0.00001			$ 0.00001
Common stock, shares authorized (in shares)	200,000,000			200,000,000
Common stock, shares outstanding (in shares)	0			0
Common stock, shares issued (in shares)	0			0

Schedule I Condensed Financial Information of Registrant - Condensed Statements of Operations and Comprehensive Loss (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Oct. 31, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Condensed Income Statements, Captions [Line Items]
Total Revenue			$ 1,198,603	$ 680,766	$ 561,323
Operating expenses:
General and administrative			116,710	38,162	17,940
Interest expense			2,018	1,435	128
Loss before income taxes			(287,820)	(160,174)	(40,289)
Income tax expense			1,357	1,829	6,421
Net loss	$ (20,317)	$ (268,860)	(289,177)	(162,003)	(46,710)
Net Loss attributable to non-controlling interest			(184,692)	(162,003)	(46,710)
Net loss attributable to Fluence Energy, Inc.			(104,485)
Foreign currency translation (loss) gain, net of income tax benefit (expense) of $0.1 million in 2022, and $0 in 2021 and 2020			5,091	(614)	1,270
Actuarial gain (loss) on pension liabilities, net of income tax (expense) benefit of $0 in each period			251	128	210
Total other comprehensive (loss) income	$ 175	$ 5,167	5,342	(486)	1,480
Total comprehensive loss			(283,835)	(162,489)	(45,230)
Consolidated Entities, Excluding Affiliated Entities, Parent
Condensed Income Statements, Captions [Line Items]
Total Revenue			0	0	0
Affiliated Entity, Parent
Condensed Income Statements, Captions [Line Items]
Total Revenue			0	0	0
Parent
Condensed Income Statements, Captions [Line Items]
Total Revenue			0	0	0
Operating expenses:
General and administrative			855	0	0
Interest expense			0	0	0
Equity in net (loss) of subsidiaries			(103,630)	0	0
Loss before income taxes			(104,485)	0	0
Income tax expense			0	0	0
Net loss			(104,485)	0	0
Net Loss attributable to non-controlling interest			0	0	0
Net loss attributable to Fluence Energy, Inc.			(104,485)	0	0
Foreign currency translation (loss) gain, net of income tax benefit (expense) of $0.1 million in 2022, and $0 in 2021 and 2020			2,854	0	0
Actuarial gain (loss) on pension liabilities, net of income tax (expense) benefit of $0 in each period			141	0	0
Total other comprehensive (loss) income			2,995	0	0
Total comprehensive loss			$ (101,490)	$ 0	$ 0

Schedule I Condensed Financial Information of Registrant - Condensed Statements of Operations and Comphrensive Loss (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Condensed Income Statements, Captions [Line Items]
Foreign currency translation gain (loss), income tax benefit (expense)	$ 100	$ 0	$ 0
Actuarial gain (loss), income tax (expense) benefit	0	0	0
Parent
Condensed Income Statements, Captions [Line Items]
Foreign currency translation gain (loss), income tax benefit (expense)	0	0	0
Actuarial gain (loss), income tax (expense) benefit	$ 0	$ 0	$ 0

Schedule I Condensed Financial Information of Registrant - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 01, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss attributable to Fluence Energy, Inc.		$ (104,485)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Stock-based compensation expense		44,131	$ 0
Changes in operating assets and liabilities:
Net cash (used in) provided by operating activities		(282,385)	(265,269)	(14,016)
Investing activities
Purchase of equity securities		(1,124)	0	0
Net cash (used in) provided by investing activities		(148,417)	(22,292)	18,220
Financing activities
Repurchase of Class A common stock placed into treasury		(5,013)	0	0
Proceeds from exercise of stock options		3,103	0	0
Proceeds from issuance of Class A common stock sold in an IPO, net of underwriting discounts and commissions		947,990	0	0
Net cash provided by financing activities		817,053	231,126	2,500
Effect of exchange rate changes on cash and cash equivalents		5,401	(547)	1,327
Net (decrease) increase in cash and cash equivalents		391,652	(56,982)	8,031
Cash, cash equivalents, and restricted cash as of the beginning of the period		38,069	95,051	87,020
Cash, cash equivalents, and restricted cash as of the end of the period		429,721	38,069	95,051
Parent
Operating activities
Net loss attributable to Fluence Energy, Inc.		(104,485)	0	0
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Equity in net (loss) of subsidiaries		103,630	0	0
Stock-based compensation expense		666	0	0
Changes in operating assets and liabilities:
Other receivables		(19)	0	0
Accounts payable - related party		208	0	0
Net cash (used in) provided by operating activities		0	0	0
Investing activities
Purchase of equity securities		(947,990)	0	0
Net cash (used in) provided by investing activities		(947,990)	0	0
Financing activities
Distributions from Fluence Energy, LLC		5,013	0	0
Repurchase of Class A common stock placed into treasury		(5,013)	0	0
Proceeds from exercise of stock options		3,103	0	0
Contributions to Fluence Energy, LLC		(3,103)	0	0
Proceeds from issuance of Class A common stock sold in an IPO, net of underwriting discounts and commissions	$ 948,000	947,990	0	0
Net cash provided by financing activities		947,990	0	0
Effect of exchange rate changes on cash and cash equivalents		0	0	0
Net (decrease) increase in cash and cash equivalents		0	0	0
Cash, cash equivalents, and restricted cash as of the beginning of the period		0	0	0
Cash, cash equivalents, and restricted cash as of the end of the period		$ 0	$ 0	$ 0

Schedule I Condensed Financial Information of Registrant - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Nov. 01, 2021	Oct. 27, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2022
Consolidated Entities [Line Items]
Proceeds from issuance of Class A common stock sold in an IPO, net of underwriting discounts and commissions			$ 947,990	$ 0	$ 0
Accounts payable			(304,898)	(158,366)
Parent
Consolidated Entities [Line Items]
Proceeds from issuance of Class A common stock sold in an IPO, net of underwriting discounts and commissions	$ 948,000		947,990	$ 0	$ 0
Tax receivable agreement tax benefit payment percentage		85.00%
Parent \| Consolidation, Eliminations
Consolidated Entities [Line Items]
Accounts payable			$ 200
Common Class A
Consolidated Entities [Line Items]
Par value, Class A common stock (in usd per share)	$ 0.00001		$ 0.00001			$ 0.00001
Common Class A \| Parent
Consolidated Entities [Line Items]
Par value, Class A common stock (in usd per share)	$ 0.00001		$ 0.00001	$ 0.00001
Common Class A \| IPO
Consolidated Entities [Line Items]
Shares sold in offering (in shares)	35,650,000
Public offering price per share (in usd per share)	$ 28.00
Common Class A \| IPO \| Parent
Consolidated Entities [Line Items]
Shares sold in offering (in shares)	35,650,000
Public offering price per share (in usd per share)	$ 28.00
Common Class A \| Over-Allotment Option
Consolidated Entities [Line Items]
Shares sold in offering (in shares)	4,650,000
Common Class A \| Over-Allotment Option \| Parent
Consolidated Entities [Line Items]
Shares sold in offering (in shares)	4,650,000

Schedule II Valuation And Qualifying Accounts (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 11,632	$ 8,014
Charged to costs and expenses	43,561	3,618
Charged to other accounts	299,211	0
Reductions	0	0
Balance at end of period	$ 354,404	$ 11,632

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	2,819,000
Retained Earnings [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	(104,485,000)
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	(164,375,000)
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	$ 2,348,000

- Definition

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

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