Fluence Energy reported $6.40B of remaining performance obligations at 30 Jun 2026, up 31% from a year earlier and up 14% from the previous quarter. That is 2.4 years of trailing revenue already under contract. Book-to-bill last quarter: 2.23.
Net new backlog added in the latest quarter: $800M.
Over the last twelve months it turned about 50% of its opening backlog into revenue (12-month conversion).
Twelve-month book-to-bill: 1.57, i.e. 1.57 of new orders for every 1 of revenue recognised.
By backlog size it ranks 95th among US filers the cockpit tracks.
Fluence Energy backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Jun 2026
$6.40B
$2.63B
2.4 yrs
n/a
31 Mar 2026
$5.60B
$2.58B
2.2 yrs
n/a
31 Dec 2025
$5.50B
$2.55B
2.2 yrs
n/a
30 Sep 2025
$5.30B
$2.26B
2.3 yrs
n/a
30 Jun 2025
$4.90B
n/a
n/a
n/a
31 Mar 2025
$4.90B
n/a
n/a
n/a
31 Dec 2024
$5.10B
n/a
n/a
n/a
30 Sep 2024
$4.50B
$2.70B
1.7 yrs
n/a
30 Jun 2024
$4.50B
$2.14B
2.1 yrs
n/a
31 Mar 2024
$3.70B
$2.20B
1.7 yrs
n/a
31 Dec 2023
$3.70B
$2.27B
1.6 yrs
n/a
30 Sep 2023
$2.90B
$2.22B
1.3 yrs
n/a
Questions
What is Fluence Energy's backlog?
Fluence Energy reported $6.40B of remaining performance obligations at 30 Jun 2026, up 31% from a year earlier and up 14% from the previous quarter. That is 2.4 years of trailing revenue already under contract. Book-to-bill last quarter: 2.23.
How fast does Fluence Energy's backlog turn into revenue?
Over the last twelve months Fluence Energy recognised revenue equal to about 50% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.