update are objectives. a on brief I Lex. to will like our who review our our call. investors, our you, strategic business Thank on analysts progress provide then today’s This and a employees on I and warm welcome morning, participating send to would
will our the well as Manu outlook rest discuss remarks, for financial as our Following my of the year. performance, fiscal
am we of key the quarter. Starting on that I four $XXX with million highlights. to pleased report slide revenue during the recognized
improved the for an basis. importantly, quarter More both adjusted margin and we on GAAP gross
Our our XXXX-megawatt approximately $XXX contract we lines announced were with highlighted by new and three orders of business demand all across was million, call. on December hour strong the Orsted our
a Furthermore, our of billion, more signed contract XXst XX%. $X.X quarter-over-quarter than as December was value of increase
Importantly, XX% backlog is non-related over with our parts. of
Lastly, our during our to recurring Digital grow Services quarter. revenue business of the consists businesses, continued which and
rate attachment service Our was for fourth quarter. the XX%
is to based rate XX%, service on storage. contracts is community attachment service at rated deployed which our our relative However, our deployed
storage service there of the between storage the that customers is deployed attachment of rate coming Most mentioned. is service point I contracts to rate costs. Thus, sign with We a our contracted wait usually lag a the solutions reflective attachment due our closer service more to true believe lag agreements and online. just to
we Moving our providing and attachment. with contracted our both forward, be you will deployed
fourth to providing revenue. Additionally, of more Digital than since megawatts our quarter, XXX us contracts visibility future the signed
call discuss last you to that strategic like the our Turning we would slide to five headlined and update I an in earnings progress. our five. objectives on with provide
guidance pleased report gross that for are delivering our am to growth. year fiscal revenue First, we profitable profit. raising on I adjusted XXXX and both
due detail, chain more shares. As to to supply better demand are in we guidance discuss will Manu able and incremental raise our
and develop will products Second, continue need. our solutions we customers to that
a supply This our more when now battery are Northvolt customers our we by European looking provides diversify X helps to vendor. solar batteries optionality with such, our ACT Cubes. offering at Gen begin As solutions to battery ready adding in and
providing us requirements into convert our battery fiscal guidance. either say to in-transit, for pleased confidence and have we advantage. a will competitive year high supply both we execution am XXXX Third, our all chain in-country achievement I or
As from liquidated we we They you on battery faced challenges getting was were year, vendors. our of tariffs. time batteries recall result, may as our incurred a from one often the last delayed, and
has risk within Our for mitigating done in ensuring that needs battery all tremendous control. our by this our a XXXX job are team
we foresee chain our XXXX Where issues derail fiscal that don’t could stand year today, we expectations. supply
continue implement would those processes risk We confidence. to management and our and have providers proceed
[ph]. identify swiftly deviate to cause we to any act Additionally, mitigate us have if we the will to our issues loss plans, could from risk that
Fourth, pleased a announce we margin differentiator and competitive will business. Digital two to driver. I milestones our Digital as use am significant Fluence in
Bidding and contract an the global our a entered market with application First, initial non-related having with awarded ERCOT Mosaic Energy. we FPP
market expanding of three application. provides significant and in CAISO Mosaic rapidly markets, NEM, Australia now for a is Mosaic is a opportunities number ERCOT ERCOT. and our
As we additional time, expand to last we years. in looking next discussed to are the four markets three
to battery Additionally, to on successfully portfolio. than we opportunity have Nispera provides assets now This its utilize those their for platform performance asset launched asset one services. capability management The customers all multiple rather platforms. now with renewable on offering
And work fifth to is our finally, objective better.
our our We including I improving on structure, our risk cost are enhancing successful execution our which capabilities, will on touch project to little continuing execution management later. transformation, a see and optimizing
six. Turning to historical slide accelerate. continues any for to Demand
billion. $XX.X $X.X fact, backlog current at times nearly In of now X billion, pipeline than our sits more our
funnel the As Reduction reflects that attributable are some see Inflation the to our from early you can Act. chart, projects
of these second will the some we of projects year. half expect turn We contracts into signed in this see beginning
an good are is indicator leads potential our of project high, Additionally, opportunities. which a all-time at
predicated XX issuance of the growth expect growth in to our guidance. consolidated we such, revenue XX As XXXX U.S. XX%, IRA to timely the to drive a XX% revenue to implying on IRA of thus
some guidance the will we initial IRA commentary this released is year. While timing are be of exact hopeful unclear, the that
the sustainable coming accelerate expansion European to are Commission and Earlier increase demand, in regulations we aims important by with Plan, Continuing energy renewal which the Europe. of Deal of to becoming and spending its the and pay actions that increasingly this built month, Green out Industrial rent reduce order [ph] technology.
we share of plan shared, of renewal European the been independence the steps as efforts the energy, their early increasing including towards energy details applaud take their still energy While battery storage. Commission securing by they the serious days, has not of
we have highlighted why solution. storage choose seven, energy our to customers reasons their provide slide some the of On us
For safe with are product. someone looking they them instance provide a can for who
be an safety are one market our of proud the We time, Time when in priority have selecting their energy leaders tell to safety and that top standards. industry the us after surpassed storage. customers is
priority will make additional highest when solutions. safety continue We developing to our
performance. Second,
Our only customers fastest world’s have one storage safe that but level. we deployed pleased battery and at facility. are the high product, to demand performs point, To that a not responding
times on assets milliseconds demand [inaudible]. the deployment achieved has below team response XXX Our
critical Banks customers is look customers, larger projects, Energy This Storage our bankability. financial Fluence have feel told more as becoming in Third, more Solutions. common. the especially Battery for for to and confident underwriting with institutions and are our they they further projects finance, which
Energy in is Battery System These a fact, Fluence December Survey. year-on-year, industry In are participants. which rate in Storage report Cost will XXX BNEF
the One questions of participants providers. to and integrators rank of survey XX bankability the asked
to are ranked reflecting We the our be proud at successful top bankability, track. for
supply chain assurance. And fourth,
projects able efficient Our comes customers to will chain. only supply on deliver This time. someone want with their who be
remainder that of We This risk for Project the our have needs we Litgrid. of are to all significantly in-transit. say the or either the reduces in-country proud fiscal year battery
us record other the significantly to and as we continue allows steps understanding lenders have reduce and track taken chain the Our attracting largest our infrastructure safety of bank risk some and supply players customers. world’s performance, to with our of
our contracts are Digital opportunity seeking our provide contract. that These for and This as storage storage community begins a revenue. that customers up opens has a long-term relationship greater evident long-term Services XX% the long-term deployed of with solutions than and service recurring
to Turning slide eight.
to expand our help to continue maximize our order their in We profit. Digital offering customers
Bidding This for officially is Mosaic to now with our ERCOT NEM the and be Mosaic CAISO. have in we with the market application. the First, Australia orders market entered third
contract agreement an three in awarded More optimize unrelated We & any next global brought importantly, the BESS ERCOT. have we online a signed been in to years. framework with our Utility IPP ERCOT first
customer. The This totaled a new allotment is as market our establishes blue-chip product megawatts. in significant XXX with a award first a it
officially [inaudible] performance briefly platform. we storage I Nispera as on have is This mentioned, milestone. Second, management a major launched asset
it’s four now deployed energy wind, one be and a battery of first the to in all hydro world platform, renewable on solar, classes, the As storage. asset into major Nispera APMs
Nispera real-time additional all the advantage battery ticketing acetate. for than brings capabilities in data one Nispera and assets renewable with system monitoring APM the providing of for many include one The of battery of renewable class. the subcomponent, can that bought performance provide Nispera more analysis now portfolio. asset customers our
they instead for the APM of each can portfolio. now just having So asset for different one entire class, have
lower customer having management the our an our objective Mosaic Similar Nispera platform customers business. of it overall cost also where increase helped offering, process our to ownership product customer of our performance and asset by of is to total maximize the
Turning to slide nine.
progress have we financial tremendous seen our As on a from our we making operation. results, are
discussed briefly our we transformation main focused is call, on As on areas. our three last
The first risk enhancing our management. is
of in ensure are set and ensure We with and complete. materials, and all have place quantified put efficiently identify least one managerial managed product then we and have to mitigated at we commercial a all effectively initiatives the more to rates
prospective to financial us on our confident more allows management be results. risk robust more The
this in endeavors. As am is in all forward. path to the to processes on continue our provide still of There continue as way to to these some our our will measured mature, moving report. we clarity ability I continue prospects further confident go But
our initiative. execution. our major roadmap is A our capability. availability product product improving We Second, execution our recently of driver revised and
smaller the The generation manage, product know. We and concentrated down faster market. are development to our efficient breaking and from projects are moving output concept projects away projects easier of to on we improvements more smaller units, into
recently able a us established a customers. system at problem allows going to and the test to level improvement we solutions drive before each our addition, are In facility identify new to and best-in-class
Third, structure. optimizing cost our
our As we Technology on India we resources call, last been on increasing mentioned have Center. our
cost been in cost workforce strategy and that have in often resources a We higher lower increase competitive resources countries. countries reduce taking
and As class. part I am fiscal our pleased India we endeavor support India end the Center Technology of report by double retool progress we of in significant of this plan number employees to necessary the this, provide year. function to made utilizing our to our in and that to Digital are
lower to Manu cost which provides us our for resources leverage operating with result, to India countries [inaudible] our later our we like as on XX% that talent, reduce on. will are of focusing in By touch a necessary represent the able a growth. significant India, our to offering As XX% expect resources we
of pleased the achievement I Overall, am the first with quarter.
we Although there’s lot be to done. still a mindful are work of
we will We for continue remainder this the year. momentum the to progress as look of
to This will the my I Manu. over turn now prepared concludes call remarks.
