Manuel. you, Thank
like to gratitude I and Fluence. I Before to Manuel my commitment would express begin, leadership to his for
each known our our level relationship and to Additionally, other as we Julian welcome extend shareholders. strive I'm deeper to a Julian. XXXX, increase continue to value together since have I I'd on a for warm working like excited to and
in negative adverse demonstrating Slide in our in of a adjusted QX actions. to thus driven and further increasing the by execution gross margin we guidance X% X% moving in our profit profit QX, reduction have our on in financial the calls. QX. positive previous The QX and in discussed improvement previous the was successful had we of China to impact our early margin of negative faced QX from solid with quarter-over-quarter margin improved improvement We the challenges and result turning despite quarter-over-quarter, gross line and margins GAAP the to performance. X COVID Now lockdowns We as expectations a quarter
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order for As fiscal business of resilience quarter storage Manuel had three quarters of the and XXXX, the the cases. exceptionally for Even combined we X,XXX a intake resilience decent though of mentioned our for already orders megawatts a exceeds customers' prices the increased new business following the energy we in year first throughout entire demand quarters two energy year orders X,XXX megawatts the earlier, our XXXX, row. for of demonstrating the new growing fiscal worldwide storage customers' our cases. strong
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saw inclusion Additionally, mostly this growth quarter. in the pipeline, Nispera our attributable significant to in metrics of digital we our
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were in a QX progress which about In continue and reduction we reduced fourth of costs assuming previous improvement to quarter. by effects from each the statements, renegotiations shipping and negative biggest other interruptions. quarter The the made expect QX, the negative a legacy in line QX, of related $XX our see in the in we $XX have contracts COVID-XX, to related again to excess in quarter. can reduced this of costs previous You impact quarter million with effectively to site level level and further compounding agreements site reduction on million neutral closures of negative supply fourth $XX of the we driver half related which the and ongoing the have reducing will the trend million is of
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seeing, the about of be to and customers more level the selective because fact, high projects are In demand we we are for. able bid on work of we we
and launching made As before, model start an September. expected the of Manuel late the production contract we in with States business in process mentioned of our here on strong regional progress have are in manufacturing United
segments, this centers on data therefore, in also segment direction driver, With margin track we heading are this such in on higher the growing right to on respect focus are, mix, our margin on as with We driver. and transmission. margin
in We and encouraging. We of segment and in position of market to in the are complexity relative looking because are strong deliver a believe are segments leader level for future. with Europe application, Chile the transmission in to involved support for our various transmission, higher and be these segments to that challenges this seeing parts we traction the expansion the of other storages margin margins which
Gen deliver specific US. again, executing X our the direction for our huge we are such will product payload a the roadmap, As as product, in heading which with right to markets
see margin support financials. to have on for relative Overall, months 'XX are improved QX made QX QX fiscal expect the to reflecting this intake We from our plan. XX the executing 'XX to our the for margins margins order driver fiscal order 'XX, we intake our reflecting year progress fiscal
to the We margins additional also Inflation Reduction see Act. benefit from
the business of and services. and case see to a for expect demand higher We significant thus pricing incremental overall our enabling products enhancement for energy storage, an amount of
in demand relates energy should it demand as the in supply increase compound this imbalance to the Additionally, further market storage.
to the upside in potential we await we results on expected While from be year convert based guidance the an to order it I convert this intake the IRS, margin is that note illustration our too intake would time reflected order to of 'XX. from on chart. the expect the quantify in the benefits early as we've upside is and typical demand to provided for financial This legislation to revenue. beginning takes fiscal it
XX. Slide to Turning
quarter. was You $XX QX can million negative slight which in a see had quarter-over-quarter in improvement we and million adjusted our EBITDA, negative this $XX
year we rapidly turning overhead to organizational profit to maintain eye and size 'XX. revenue over our grow continue to last fiscal in months scaled current organization the are we improves, gross while our up also our efficiency. As the XX Having
We more next our will in earnings overhead efficiency details provide on call.
we an As year adjusted calls, mentioned we to 'XX. on have breakeven previous expect from in EBITDA fiscal be perspective
for due position contracts, coupled to approximately strong prepayments This cash total I a in increase total acquisition. Slide Now report for the the partially $XX use turning from balance XX. to pleased customers, of to to customer cash approximately our million. am of cash our increased collections certain offset $XXX Nispera million with million by on our was $XX
our $XXX on capital our focused our the continue with comments will cash QX We we line balance million In framework. that with we our to our deploy still earnings close strategic call, balance in when at line remain on around expect the is of year the the an This expected into this fourth year revenue fiscal announced with quarter. [capital] due first by the end of collection fiscal majority being and decrease in working driven shift XXXX. of half the working to cash previously [capital]
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We year are billion, $XXX approximately XXXX of of guidance fourth for reaffirming quarter million. revenue fiscal which $X.X revenue implies approximately our
call, the our the transit handover our guidance our delivery summary, in currently call. in earlier In gross on provide on quarter. you products, XX our this operations improving line end supported our year stability progress are recognize on chain. 'XX normal our on revenue which profit the outlook on-time fiscal to arrival we of is related the In days remaining earnings to the by we the by year customers with mentioned cadence, of in supply the with predicated and As more and will continued product see
we will the strategic ReNew outlook. on to finalizing this which Reduction We manufacturing drive we are Utah, margin in to capitalize our in expect with from to us US making assumed and create have incremental demand relative on facility financial upside Act. and our contract the the Overall, legislation incentives opening JV enable progress Inflation what agenda, including
longer us strong term enables the ourselves for to balance favorable Our position for outlook storage. cash energy
'XX. cash fiscal on year focused line flow improving achieving adjusted breakeven the team, a EBITDA we're As and intensely bottom management in and
about for We business. term our will bullish prepared prospects remarks. longer the I back call now to excited and be my This the concludes to Manuel. are turn continue the on
