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SAY the name JK Rowling and be ready to take cover as sanctimonious snowflakes screech hate about her views on transgender people. But attempts by leftie woke warriors to cancel the Harry Potter author have failed, with news she will definitely play a key role in a £1.6billion, ten-year TV adaptation of her books about the boy wizard. Furious trans activists had complained about Rowling being an executive producer on the show, which is being made in Britain for American TV channel HBO’s streaming service Max. Rowling has previously come under fire for claiming the “trans women are women” mantra is “idiotic”, and for campaigning to preserve safe spaces and women’s toilets for biological females only. JK Rowling has a right to express her personal views. We will remain focused on the development of the new series, which will only benefit from her involvement. But she denies being transphobic — and now excitement about the new TV project has drowned out calls for a boycott of her participation. At the weekend, HBO said: “We are proud to once again tell the story of Harry Potter — the heartwarming books that speak to the power of friendship, resolve and acceptance. “JK Rowling has a right to express her personal views. “We will remain focused on the development of the new series, which will only benefit from her involvement.” The announcement has quietened those who have lined up to deny the 59-year-old her views on transgender questions. Daniel Radcliffe and Rupert Grint, stars of the Harry Potter movie franchise, have previously slammed her comments on transgender rights. But Daniel, who played Harry, and Rupert, famed as Potter’s pal Ron Weasley at wizard school Hogwarts, have now both said they are looking forward to HBO bringing back the characters they played in eight films. And well they might — the TV series, which promises to “dive deep into each one of the iconic books” is a seriously big deal. Thousands of children have auditioned to play Harry, Ron and their friend Hermione Granger — portrayed in the films by Emma Watson — ahead of the expected start of filming in the spring . Meanwhile, Gary Oldman , who played wizard Sirius Black in the movies, has put his hat in the ring for future projects, saying, “Maybe in a few years I can play [Hogwarts headmaster] Dumbledore”. His former fellow cast members, including Helena Bonham Carter, Ralph Fiennes and Jim Broadbent , have all defended Rowling’s right to express her opinions. If there’s a better hill to die on than the rights and safety of women and children, I’ve never found it. These public displays of support for the writer reflect a shift in Holly-wood, which appears to be tiring of political correctness, which has proven to be a turn-off at the box office. Four years ago when Rowling mocked “people who menstruate” as a term to describe “women”, she faced a huge backlash from stars including Emma Watson. But rather than be cowed by the criticism, JK has continued to stand up for her beliefs. Last week she posted defiantly: “If there’s a better hill to die on than the rights and safety of women and children, I’ve never found it.” The appeal of the story of orphan schoolboy Harry who discovers he has magical powers appears to be just as strong as ever. Since the first novel was published in 1997, and followed by six sequels, more than 600million books have been sold across the world. Shops selling merchandise, such as scarves and wands, continue to open and next month streaming platform Amazon Prime Video launches a Great British Bake Off-style TV show titled Harry Potter: Wizards Of Baking. When anti-Rowling campaigners called for a boycott of the Hogwarts Legacy video game last year, their protest had little or no effect as sales soared past 12million in just a couple of months. Meanwhile, stage play Harry Potter And The Cursed Child is still going strong in London’s West End after eight years. It is no surprise, then, that HBO parent company Warner Bros, whose eight Harry Potter films made around £ 7 billion combined, was keen to return to the Hogwarts school of Witch-craft and Wizardry. The movie giant’s streaming channel Max, previously known as HBO Max, will air the TV series in 2026. Succession and Killing Eve producer Francesca Gardiner will lead the project with British director Mark Mylod, whose CV includes Game Of Thrones. There are rumours Brit actor Mark Rylance, star of BBC period drama Wolf Hall, is in line to play Hogwarts Professor Albus Dumbledore . In September it was announced that the casting process for all the young Hogwarts characters — from Harry to his nemesis and fellow wizarding student Draco Malfoy — would be open to the public. They are looking for talented kids aged nine to 11 who live in the UK or Ireland. No acting experience is necessary, although show bosses have also been scouting stage schools. The website taking applications has now closed due to the huge response. It is a massive boost for the British TV industry, with the bulk of the series set to be made at Warner Bros’ studios in Leavesden, near Watford. The budget for each of the ten seasons is reckoned to be around £159million and the plan is to film each series back to back because bosses do not want the cast to age too much on screen. But it will be tricky because there are strict regulations about the hours school-age actors and actresses are allowed to work. Daniel Radcliffe, now aged 35, who had the most scenes in the Potter movies, had to be taught on set between shoots. He earned a reported £86million from the films but it is unlikely any of the wannabe Harrys eyeing up the TV gig would enjoy the same sort of payday. Daniel has backed the remake, saying: “It’ll be cool to see the torch get passed on.” Rupert Grint agrees, telling GQ magazine: “I’d love to see Harry Potter be adapted into a TV show. “It would really work.” Rowling, who is worth an estimated £945million, retains the rights to her books and she has always insisted strongly on having her say about any Potter-related projects. It was thanks to the Gloucestershire-born author, who now lives in Scotland , that the movies were not Americanised. HBO and Max chairman and CEO Casey Bloys says Rowling has been “very, very involved in the process of selecting the writer and director” for the telly series. Bloys also denied that her comments about trans issues had “affected the casting or hiring of writers or production staff”. Indeed, Warner Bros are not the only ones who wish to work with the hugely imaginative writer. Even though the BBC twice apologised last year after Rowling was described during its programmes as “anti-trans”, the corporation keep adapting her Cormoran Strike crime novels into TV shows. Activists are trying to organise yet another boycott of my work, this time of the Harry Potter TV show. As forewarned is forearmed, I’ve taken the precaution of laying in a large stock of champagne. This December, her fictional detective played by Tom Burke will return for a BBC One four-part dramatisation of her 2022 novel The Ink Black Heart. Meanwhile, plenty of actors are backing JK. Broadbent, who played Hogwarts’ Professor Horace Slug-horn in two Potter films, said, “JK Rowling is amazing”, and Bonham Carter, who portrayed evil Bellatrix Lestrange, commented: “She has been hounded.” Fiennes, who played Lord Voldemort, described the attacks on the author as “appalling”, and Evanna Lynch, witch Luna Love-good in the films, said: “I do wish people would just give her more grace and listen to her.” But this type of comment is at odds with much of Gen Z. Not that JK is too worried about being cancelled, as she just shrugs if all off. Last April she said: “Activists are trying to organise yet another boycott of my work, this time of the Harry Potter TV show. “As forewarned is forearmed, I’ve taken the precaution of laying in a large stock of champagne.” By Julie Bindel, feminist and friend of JK Rowling JK ROWLING’S pinned tweet, in response to a trans activist claiming he burns her books and toasts marshmallows over the flame, reads: “I get the same royalties whether you read them or burn them. Enjoy your marshmallows!” Having bullied the majority into submission for so long, these activists are now losing ground. Increasingly, they are ignored and sidelined. Rowling is a feminist hero. Since first speaking out against the crazed gender ideology that has swept much of the world, including treasured institutions, she has made an immeasurable difference to women and girls everywhere. As one of the most famous authors ever, Rowling had no need to take a stand on this contentious, toxic issue – she did it because she could not remain silent. Having spent millions supporting orphaned children and other disadvantaged groups through her charitable work, she decided that adding her voice to the fight against those determined to see an end to female-only spaces and facilities would be worth the inevitable backlash. And what a backlash: in addition to innumerable rape and death threats, she has been publicly maligned by those whose fame and fortune she helped create. The actors who played Harry, Ron and Hermione have all stuck the knife in. As a lesbian, and as someone lucky enough to be able to call Rowling a personal friend, I know their claims are utter fabrication. Calls to boycott the new HBO Harry Potter TV series is nothing but bullying and posturing. I don’t know how those responsible sleep at night, when the ideology Rowling speaks out against leads to children being unnecessarily medicalised for life. Asked by a trans activist why she wanted to “die on this hill”, Rowling replied in her usual forthright manner: “If there’s a better hill to die on than the rights and safety of women and children, I’ve never found it.”ARLINGTON, Va., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (Nasdaq: FLNC) (“Fluence” or the “Company”), a global market leader delivering intelligent energy storage, operational services, and asset optimization software, today announced its results for the three months and full fiscal year ended September 30, 2024. Fiscal Year 2024 Financial Highlights Record revenue for fiscal year 2024 of approximately $2.7 billion and revenue for the fourth quarter of approximately $1.2 billion, representing an increase of approximately 22% from fiscal year 2023 and an increase of approximately 82% from the same quarter last year, respectively. GAAP gross profit margin improved to approximately 12.6% and 12.8% for fiscal year 2024 and the fourth quarter, respectively, compared to approximately 6.4% and 11.3% for fiscal year 2023 and the same quarter last year, respectively, reflecting the Company's continued focus on ongoing profit improvement strategies. Net income of approximately $30.4 million and $67.7 million for fiscal year 2024 and the fourth quarter, respectively, improved from a net loss of approximately $104.8 million and net income of approximately $4.8 million, for fiscal year 2023 and the same quarter last year, respectively. Adjusted EBITDA 1 of approximately $78.1 million and $86.9 million for fiscal year 2024 and the fourth quarter, respectively, improved from approximately negative $61.4 million and $19.8 million for fiscal year 2023 and the same quarter last year, respectively. Quarterly order intake of approximately $1.2 billion, compared to approximately $737 million for the same quarter last year. Backlog 2 increased to approximately $4.5 billion as of September 30, 2024, compared to approximately $2.9 billion as of September 30, 2023. Financial Position Total Cash 3 of approximately $518.7 million as of September 30, 2024, representing an increase of approximately $56.0 million from September 30, 2023. Net cash provided by operating activities was approximately $79.7 million, compared to approximately negative $111.9 million for fiscal year 2023. Free cash flow 1 was approximately $71.6 million, compared to approximately negative $114.9 million for fiscal year 2023. Fiscal Year 2025 Outlook The Company is initiating fiscal year 2025 guidance as follows: Revenue of approximately $3.6 billion to $4.4 billion with a midpoint of $4.0 billion. Presently, approximately 65% of the midpoint of the Company's revenue guidance is covered by the Company's current backlog, in line with our fiscal 2024 revenue coverage at the same time period last year. Adjusted EBITDA 4 of approximately $160 million to $200 million with a midpoint of $180 million. Annual recurring revenue ("ARR") of about $145 million by the end of fiscal year 2025. The foregoing Fiscal Year 2025 Outlook statements represent management's current best estimate as of the date of this release. Actual results may differ materially depending on a number of factors. Investors are urged to read the Cautionary Note Regarding Forward-Looking Statements included in this release. Management does not assume any obligation to update these estimates. "Our record financial results for 2024 are a testament to our team's dedication, operational efficiency, and commitment to delivering value to our stakeholders as we achieved our highest ever revenue and profitability, marking a significant milestone in the Company's growth trajectory. Furthermore, we had our second consecutive quarter of signing more than $1 billion of new orders, which brought our backlog to $4.5 billion, underscoring the market's strong confidence in our energy storage solutions," said Julian Nebreda, the Company’s President and Chief Executive Officer. "As we look forward, we see unprecedented demand for battery energy storage solutions across the world, driven principally by the U.S. market. We believe we are well positioned to continue capturing this market with our best-in-class domestic content offering which utilizes U.S. manufactured battery cells." "We are pleased with our strong fiscal year-end performance, achieving record revenue growth, robust margin expansion and free cash flow. We also generated positive net income for the first time," said Ahmed Pasha, Chief Financial Officer. "With backlog and development pipeline at record levels, we enter fiscal 2025 poised for sustained profitable growth." Share Count The shares of the Company’s common stock as of September 30, 2024 are presented below: Conference Call Information The Company will conduct a teleconference starting at 8:30 a.m. EST on Tuesday, November 26, 2024, to discuss the fourth quarter and full fiscal year 2024 financial results. To participate, analysts are required to register by clicking Fluence Energy Inc. Q4 Earnings Call Registration Link . Once registered, analysts will be issued a unique PIN number and dial-in number. Analysts are encouraged to register at least 15 minutes before the scheduled start time. General audience participants, and non-analysts are encouraged to join the teleconference in a listen-only mode at: Fluence Energy Inc. Q4 Listen Only - Webcast , or on http://fluenceenergy.com by selecting Investors, News & Events, and Events & Presentations. Supplemental materials that may be referenced during the teleconference will be available at: http://fluenceenergy.com, by selecting Investors, News & Events, and Events & Presentations. A replay of the conference call will be available after 1:00 p.m. EST on Tuesday, November 26, 2024. The replay will be available on the Company’s website at http://fluenceenergy.com by selecting Investors, News & Events, and Events & Presentations. Non-GAAP Financial Measures We present our operating results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). We believe certain financial measures, such as Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Profit Margin, and Free Cash Flow, which are non-GAAP measures, provide users of our financial statements with supplemental information that may be useful in evaluating our operating performance. We believe that such non-GAAP measures, when read in conjunction with our operating results presented under GAAP, can be used to better assess our performance from period to period and relative to performance of other companies in our industry, without regard to financing methods, historical cost basis or capital structure. Such non-GAAP measures should be considered as a supplement to, and not as a substitute for, financial measures prepared in accordance with GAAP. These measures have limitations as analytical tools, including that other companies, including companies in our industry, may calculate these measures differently, reducing their usefulness as comparative measures. Adjusted EBITDA is calculated from the consolidated statements of operations using net income (loss) adjusted for (i) interest income, net, (ii) income taxes, (iii) depreciation and amortization, (iv) stock-based compensation, and (v) other non-recurring income or expenses. Adjusted EBITDA also includes amounts impacting net income related to estimated payments due to related parties pursuant to the Tax Receivable Agreement, dated October 27, 2021, by and among Fluence Energy, Inc., Fluence Energy, LLC, Siemens Industry, Inc. and AES Grid Stability, LLC (the “Tax Receivable Agreement”). Adjusted Gross Profit is calculated using gross profit, adjusted to exclude (i) stock-based compensation expenses, (ii) amortization, and (iii) other non-recurring income or expenses. Adjusted Gross Profit Margin is calculated using Adjusted Gross Profit divided by total revenue. Free Cash Flow is calculated from the consolidated statements of cash flows and is defined as net cash provided by (used in) operating activities, less purchase of property and equipment made in the period. We expect our Free Cash Flow to fluctuate in future periods as we invest in our business to support our plans for growth. Limitations on the use of Free Cash Flow include (i) it should not be inferred that the entire Free Cash Flow amount is available for discretionary expenditures (for example, cash is still required to satisfy other working capital needs, including short-term investment policy, restricted cash, and intangible assets); (ii) Free Cash Flow has limitations as an analytical tool, and it should not be considered in isolation or as a substitute for analysis of other GAAP financial measures, such as net cash provided by operating activities; and (iii) this metric does not reflect our future contractual commitments. Please refer to the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures included in this press release and the accompanying tables contained at the end of this release. The Company is not able to provide a quantitative reconciliation of full fiscal year 2025 Adjusted EBITDA to GAAP Net Income (Loss) on a forward-looking basis within this press release because of the uncertainty around certain items that may impact Adjusted EBITDA, including stock compensation and restructuring expenses, that are not within our control or cannot be reasonably predicted without unreasonable effort. About Fluence Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. The Company's solutions and operational services are helping to create a more resilient grid and unlock the full potential of renewable portfolios. With gigawatts of projects successfully contracted, deployed and under management across nearly 50 markets, the Company is transforming the way we power our world for a more sustainable future. For more information, visit our website, or follow us on LinkedIn or X. To stay up to date on the latest industry insights, sign up for Fluence's Full Potential Blog. Cautionary Note Regarding Forward-Looking Statements The statements contained in this press release and statements that are made on our earnings call that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements set forth above under “Fiscal Year 2025 Outlook,” and other statements regarding the Company's future financial and operational performance, future market and industry growth and related opportunities for the Company, anticipated Company growth and business strategy, including future incremental working capital and capital opportunities, liquidity and access to capital and cash flows, demand for electricity and impact to energy storage, demand for the Company's energy storage solutions, services, and digital applications offerings, our positioning to capture market share with domestic content offering and future offerings, expected impact and benefits from the Inflation Reduction Act of 2022 and U.S. Treasury domestic content guidelines on us and on our customers, anticipated timeline of U.S. battery module production and timing of our domestic content offering, expectations relating to our contracting manufacturing capacity, potential impact to tariffs, related policies, and regulations from the change in political administration, new products and solutions and product innovation, relationships with new and existing customers and suppliers, expectations relating to backlog, pipeline, and contracted backlog, future revenue recognition, future results of operations, future capital expenditures and debt service obligations, and projected costs, beliefs, assumptions, prospects, plans and objectives of management. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “may,” “possible,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” "commits", “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments, as well as a number of assumptions concerning future events, and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, our relatively limited operating and revenue history as an independent entity and the nascent clean energy industry; anticipated increasing expenses in the future and our ability to maintain prolonged profitability; fluctuations of our order intake and results of operations across fiscal periods; potential difficulties in maintaining manufacturing capacity and establishing expected mass manufacturing capacity in the future; risks relating to delays, disruptions, and quality control problems in our manufacturing operations; risks relating to quality and quantity of components provided by suppliers; risks relating to our status as a relatively low-volume purchaser as well as from supplier concentration and limited supplier capacity; risks relating to operating as a global company with a global supply chain; changes in the global trade environment; changes in the cost and availability of raw materials and underlying components; failure by manufacturers, vendors, and suppliers to use ethical business practices and comply with applicable laws and regulations; significant reduction in pricing or order volume or loss of one or more of our significant customers or their inability to perform under their contracts; risks relating to competition for our offerings and our ability to attract new customers and retain existing customers; ability to maintain and enhance our reputation and brand recognition; ability to effectively manage our recent and future growth and expansion of our business and operations; our growth depends in part on the success of our relationships with third parties; ability to attract and retain highly qualified personnel; risks associated with engineering and construction, utility interconnection, commissioning and installation of our energy storage solutions and products, cost overruns, and delays; risks relating to lengthy sales and installation cycle for our energy storage solutions; risks related to defects, errors, vulnerabilities and/or bugs in our products and technology; risks relating to estimation uncertainty related to our product warranties; fluctuations in currency exchange rates; risks related to our current and planned foreign operations; amounts included in our pipeline and contracted backlog may not result in actual revenue or translate into profits; risks related to acquisitions we have made or that we may pursue; events and incidents relating to storage, delivery, installation, operation, maintenance and shutdowns of our products; risks relating to our impacts to our customer relationships due to events and incidents during the project lifecycle of an energy storage solution; actual or threatened health epidemics, pandemics or similar public health threats; ability to obtain financial assurances for our projects; risks relating to whether renewable energy technologies are suitable for widespread adoption or if sufficient demand for our offerings do not develop or takes longer to develop than we anticipate; estimates on size of our total addressable market; risks relating to the cost of electricity available from alternative sources; macroeconomic uncertainty and market conditions; risk relating to interest rates or a reduction in the availability of tax equity or project debt capital in the global financial markets and corresponding effects on customers’ ability to finance energy storage systems and demand for our energy storage solutions; decline in public acceptance of renewable energy, or delay, prevent, or increase in the cost of customer projects; severe weather events; increased attention to ESG matters; restrictions set forth in our current credit agreement and future debt agreements; uncertain ability to raise additional capital to execute on business opportunities; ability to obtain, maintain and enforce proper protection for our intellectual property, including our technology; threat of lawsuits by third parties alleging intellectual property violations; adequate protection for our trademarks and trade names; ability to enforce our intellectual property rights; risks relating to our patent portfolio; ability to effectively protect data integrity of our technology infrastructure and other business systems; use of open-source software; failure to comply with third party license or technology agreements; inability to license rights to use technologies on reasonable terms; risks relating to compromises, interruptions, or shutdowns of our systems; barriers arising from current electric utility industry policies and regulations and any subsequent changes; reduction, elimination, or expiration of government incentives or regulations regarding renewable energy; potential changes in tax laws or regulations; risks relating to environmental, health, and safety laws and potential obligations, liabilities and costs thereunder; failure to comply with data privacy and data security laws, regulations and industry standards; risks relating to potential future legal proceedings, regulatory disputes, and governmental inquiries; risks related to ownership of our Class A common stock; risks related to us being a “controlled company” within the meaning of the NASDAQ rules; risks relating to the terms of our amended and restated certificate of incorporation and amended and restated bylaws; risks relating to our relationship with our Founders and Continuing Equity Owners; risks relating to conflicts of interest by our officers and directors due to positions with Continuing Equity Owners; risks related to short-seller activists; we depend on distributions from Fluence Energy, LLC to pay our taxes and expenses and Fluence Energy, LLC’s ability to make such distributions may be limited or restricted in certain scenarios; risks arising out of the Tax Receivable Agreement; unanticipated changes in effective tax rates or adverse outcomes resulting from examination of tax returns; risks relating to improper and ineffective internal control over reporting to comply with Sarbanes-Oxley Act; risks relating to changes in accounting principles or their applicability to us; risks relating to estimates or judgments relating to our critical accounting policies; and other factors set forth under Item 1A.“Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024, to be filed with the Securities and Exchange Commission (“SEC”), and in other filings we make with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. Accounts payable with related parties of $2.5 million and Accruals with related parties of $3.7 million as of September 30, 2023, were reclassified from Deferred revenue and payables with related parties to Accounts payable and Accruals and provisions, respectively, on the consolidated balance sheet. The reclassification had no impact on the total current liabilities for any period presented. Corresponding reclassifications were also reflected on the consolidated statement of cash flows for the fiscal year ended September 30, 2023 and 2022. The reclassifications had no impact on cash provided by (used in) operations for the period presented. Provision on loss contracts, net of $6.1 million and $30.0 million for the fiscal years ended September 30, 2023 and 2022, respectively, was reclassified to current accruals and provisions on the consolidated statement of cash flows. The reclassification had no impact on cash provided by (used in) operations for the period presented. The following tables present our key operating metrics for the fiscal years ended September 30, 2024 and 2023. The tables below present the metrics in either Gigawatts (GW) or Gigawatt hours (GWh). Our key operating metrics focus on project milestones to measure our performance and designate each project as either “deployed”, “assets under management”, “contracted backlog”, or “pipeline”. The following table presents our order intake for the three months and fiscal years ended September 30, 2024 and 2023. The table is presented in Gigawatts (GW): Deployed Deployed represents cumulative energy storage products and solutions that have achieved substantial completion and are not decommissioned. Deployed is monitored by management to measure our performance towards achieving project milestones. Assets Under Management Assets under management for service contracts represents our long-term service contracts with customers associated with our completed energy storage system products and solutions. We start providing maintenance, monitoring, or other operational services after the storage product projects are completed. In some cases, services may be commenced for energy storage solutions prior to achievement of substantial completion. This is not limited to energy storage solutions delivered by Fluence. Assets under management for digital software represents contracts signed and active (post go live). Assets under management serves as an indicator of expected revenue from our customers and assists management in forecasting our expected financial performance. Contracted Backlog For our energy storage products and solutions contracts, contracted backlog includes signed customer orders or contracts under execution prior to when substantial completion is achieved. For service contracts, contracted backlog includes signed service agreements associated with our storage product projects that have not been completed and the associated service has not started. For digital applications contracts, contracted backlog includes signed agreements where the associated subscription has not started. We cannot guarantee that our contracted backlog will result in actual revenue in the originally anticipated period or at all. Contracted backlog may not generate margins equal to our historical operating results. We have only recently begun to track our contracted backlog on a consistent basis as performance measures, and as a result, we do not have significant experience in determining the level of realization that we will achieve on these contracts. Our customers may experience project delays or cancel orders as a result of external market factors and economic or other factors beyond our control. If our contracted backlog fails to result in revenue as anticipated or in a timely manner, we could experience a reduction in revenue, profitability, and liquidity. Contracted/Order Intake Contracted, which we use interchangeably with “order intake”, represents new energy storage product and solutions contracts, new service contracts and new digital contracts signed during each period presented. We define “Contracted” as a firm and binding purchase order, letter of award, change order or other signed contract (in each case an “Order”) from the customer that is received and accepted by Fluence. Our order intake is intended to convey the dollar amount and gigawatts (operating measure) contracted in the period presented. We believe that order intake provides useful information to investors and management because the order intake provides visibility into future revenue and enables evaluation of the effectiveness of the Company’s sales activity and the attractiveness of its offerings in the market. Pipeline Pipeline represents our uncontracted, potential revenue from energy storage products and solutions, service, and digital software contracts, which have a reasonable likelihood of contract execution within 24 months. Pipeline is an internal management metric that we construct from market information reported by our global sales force. Pipeline is monitored by management to understand the anticipated growth of our Company and our estimated future revenue related to customer contracts for our battery-based energy storage products and solutions, services and digital software. We cannot guarantee that our pipeline will result in actual revenue in the originally anticipated period or at all. Pipeline may not generate margins equal to our historical operating results. We have only recently begun to track our pipeline on a consistent basis as performance measures, and as a result, we do not have significant experience in determining the level of realization that we will achieve on these contracts. Our customers may experience project delays or cancel orders as a result of external market factors and economic or other factors beyond our control. If our pipeline fails to result in revenue as anticipated or in a timely manner, we could experience a reduction in revenue, profitability, and liquidity. Annual Recurring Revenue (ARR) ARR represents the net annualized contracted value including software subscriptions including initial trial, licensing, long term service agreements, and extended warranty agreements as of the reporting period. ARR excludes one-time fees, revenue share or other revenue that is non-recurring and variable. The Company believes ARR is an important operating metric as it provides visibility to future revenue. It is important to management to increase this visibility as we continue to expand. ARR is not a forecast of future revenue and should be viewed independently of revenue and deferred revenue as ARR is an operating metric and is not intended to replace these items. The following tables present our non-GAAP measures for the periods indicated. ____________________________ 1 Non-GAAP Financial Metric. See the section below titled “Non-GAAP Financial Measures” for more information regarding the Company's use of non-GAAP financial measures, as well as a reconciliation to the most directly comparable financials measure stated in accordance with GAAP. 2 Backlog represents the unrecognized revenue value of our contractual 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 contractual commitments and the backlog may fluctuate with currency movements. In addition, under certain circumstances, the Company’s customers have the right to terminate contracts or defer the timing of its services and their payments to the Company. 3 Total cash includes Cash and cash equivalents + Restricted Cash + Short term investments.Support Independent Arts Journalism As an independent publication, we rely on readers like you to fund our journalism. If you value our coverage and want to support more of it, consider becoming a member today . Already a member? Sign in here. Support Hyperallergic’s independent arts journalism for as little as $8 per month. Become a Member How often do you think of music when viewing a visual artwork — a painting, photograph, or collage mounted and framed? Scholar Nikki A. Greene’s new book, Grime, Glitter, and Glass: The Body and the Sonic in Contemporary Black Art , explores this juxtaposition, putting the visual into conversation with the aural and the tactile. Fittingly, the book’s structure follows the five main components of a song’s composition: “Prelude,” “Verse One,” “Verse Two,” “Verse Three,” and “Coda.” Greene focuses each verse on a single artist — Renée Stout, Radcliffe Bailey, and María Magdalena Campos-Pons, respectively — and dissects specific works in terms of musicality and sonic resonance as much as visual aesthetic. While the focus seems narrow, each verse does not rest with just one artist. Instead, it ambitiously presents the artist’s particular regional context of Black art, music, and people at large. In order to delve into Stout, for example, Greene frames the realities of the United States mid-Atlantic throughout the 20th century. For Bailey, the American South; for Campos-Pons, Cuba and Caribbean diasporic relations to the US. Thus each chapter blends mini-artist biographies with a socio-political historical account, mapping out a lush and generative artistic family tree. When writing about Stout, Greene references Betye Saar. Much of Campos-Pons ’s chapter is dedicated to Carrie Mae Weems. Bailey’s chapter is dotted with connections to Romare Bearden, David Hammons, Todd Gray, and director Barry Jenkins among others. Get the latest art news, reviews and opinions from Hyperallergic. Daily Weekly Opportunities And then, of course, there’s the music. Complete with an accompanying playlist , Greene maps sonic affect by relating artistic intention to musical artists, identifying musical influences for visual work, and highlighting actual music within work and performances. In “Verse One,” Greene compares Stout’s use of the physical form and the provocation of Black feminine sexuality in sculpture to that of funk and rock pioneer Betty Davis . For both artists, she draws out the ways in which defiance is often marked by stigma and society’s delayed understanding. “Verse Two” sees a more abstracted effort to explore Bailey’s mixed-media work within the dual reality of Black excellence and anti-Black violence demonstrated by the South, where the late artist was based. Greene first details the music video for hip-hop group Arrested Development’s “Tennessee” (1992) in which Bailey appears, drawing a line to jazz greats Miles Davis (invoking his aforementioned ex-wife Betty) and Sun Ra. “Verse Two” feels slightly unwieldy and disjointed, perhaps due to Greene’s effort to outline the weight of Black masculinity and shine with which these artists wrestle. More successfully, Campos-Pons’s “Verse Three” tackles the Western lack of recognition of Black validity: in contributions to art, in the power and gift of Black women, in Cuba’s struggle for autonomy, and more. Greene brings in saxophonist Neil Leonard’s heavily researched compositions for Campos-Pons’s work, such as the performance piece Identified (2016), connecting the dots with late Afro-Cuban singer Celia Cruz’s distinctive use of sugar — ¡Azucar! — as a claim of feminine, Black, and Afro-Caribbean power. For all its feats, this book is ultimately a scholarly work and occasionally veers into academic language. The coda, in particular, is a possibly too-dense display of social theories and observations from Greene. But while the style demands some additional effort from the reader, it also means that the numerous Black names in the book — of both visual and musical artists — are now forever published and etched into the record of increasingly interdisciplinary approaches to creative fields. Sun Ra’s Afrofuturistic jazz does interact with Romare Bearden’s collage style, which in turn impacts Bailey’s glittering “Pullman” heart. Exploring the sonic grime via funk, glitter via shine, and glass via colonial histories of Black contemporary art through these selected artists, Greene adds a novel component to Black American cultural critique. Grime, Glitter, and Glass: The Body and the Sonic in Contemporary Black Art (2024) by Nikki A. Greene is published by Duke University Press and is available online and through independent booksellers. We hope you enjoyed this article! Before you keep reading, please consider supporting Hyperallergic ’s journalism during a time when independent, critical reporting is increasingly scarce. Unlike many in the art world, we are not beholden to large corporations or billionaires. Our journalism is funded by readers like you , ensuring integrity and independence in our coverage. We strive to offer trustworthy perspectives on everything from art history to contemporary art. We spotlight artist-led social movements, uncover overlooked stories, and challenge established norms to make art more inclusive and accessible. With your support, we can continue to provide global coverage without the elitism often found in art journalism. If you can, please join us as a member today . Millions rely on Hyperallergic for free, reliable information. By becoming a member, you help keep our journalism free, independent, and accessible to all. Thank you for reading. Share Copied to clipboard Mail Bluesky Threads LinkedIn Facebook
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Photo provided by Mitolyn Losing weight and having a lean physique is a desire for many, nevertheless, for most, it stays just that — a dream. Have you ever wondered why? Why do some people seem to lose weight effortlessly, while others fight their entire lives? Why don't healthy nutrition and everyday exercise always produce the expected results? If you've heard that it's due to metabolism or a slow metabolic rate, you're half correct. But have you considered why your body's metabolism is sluggish in the first place? Diabetes, thyroid problems, a sedentary lifestyle, stress and other hormonal disorders are common causes of slow metabolism. However, there is a cause that frequently goes unnoticed: low mitochondrial levels. Mitochondria are the cells' energy powerhouses, transforming food into energy. When your mitochondria levels are inadequate, your body's capacity to effectively burn fat suffers, leaving you with obstinate body weight and a slew of other health issues. Is there no solution? Fortunately, nature provides an answer. Enter Mitolyn, a novel nutritional supplement that can target the underlying reason for excess body weight: low mitochondrial levels. Mitolyn has received some notice for its potential to address this hidden element, and user reviews are nothing short of inspiring. Mitolyn's claims of dramatic weight loss and apparent health improvements pique interest. In this in-depth Mitolyn review, you’re going to learn more about its ingredients, possible advantages, and potential to help you figure out if it's the solution you're looking for. Continue reading to uncover more about Mitolyn and its potential. Supplement Description Type: Fat-burning product Total Count: 60 capsules per bottle Produced For: 18+ Men and women with extra body fat Health Advantages: Serving Direction: Swallow 1-2 capsules every day with a full glass of cold water Manufacturing Standards: Cost: $59 onwards (Official Website) Refund: 90-day money-back guarantee Mitolyn - What Is It? Mitolyn is more than simply a weight loss pill; it's a groundbreaking composition that can help maximize your body's metabolic capabilities. It goes beyond the typical weight loss promises by addressing a basic factor that is frequently overlooked: the condition of your mitochondria. These microscopic yet important structures are the cells' powerhouses, transforming food into energy. When mitochondrial levels are low, your body struggles to burn calories efficiently, resulting in obstinate weight gain and low levels of energy. Mitolyn distinguishes itself with a distinctive blend of six exotic nutrients and botanicals carefully selected to help promote healthy mitochondrial activity. This one-of-a-kind mixture is based on scientific study, so each ingredient works together to help boost your metabolism and energy levels. Unlike generic supplements, Mitolyn's natural formula emphasizes sustainability and long-term benefits while minimizing the possibility of negative side effects. Mitolyn is made from 100% natural components and plant-based minerals, so it has no GMOs, additives, or dangerous stimulants. It comes in the form of an easy-to-take capsule, making your daily routine more convenient and simple. The formula is non-addictive, so consumers can start and stop without worrying about reliance. Mitolyn is made in an FDA-registered and GMP-certified facility, ensuring adequate levels of quality and safety. This dedication to perfection has made it a popular choice for people seeking long-term weight loss and better overall health. Mitolyn is more than just a supplement; it's a lifestyle update that can allow you to take control of your weight reduction journey and live a better, more active life. Get started with Mitolyn today! Importance Of Healthy Mitochondria Levels Mitochondria, sometimes known as the "powerhouses of the cell," play an important part in maintaining a healthy weight. When their function is disrupted, a series of issues arise, making weight management difficult. One of the most serious concerns associated with damaged mitochondria is the body's inability to burn fat efficiently. Mitochondria turn stored calories and fat into energy. When these tiny structures are damaged, fat oxidation decreases, resulting in persistent weight gain that nutrition and physical activity alone cannot reverse. Low mitochondrial levels also result in lower energy generation, which has a direct impact on physical activity. Individuals with poor mitochondrial health frequently feel fatigued, making it harder to maintain a vigorous routine or engage in regular workouts. This lack of mobility exacerbates weight growth, resulting in an endless cycle. Furthermore, damaged mitochondria cause hormonal abnormalities since they regulate metabolic hormones. Disruptions in these hormones can cause increased hunger, poor satiety, and a tendency to retain fat rather than burn it. Chronic inflammation and oxidative stress are two additional problems linked with mitochondrial dysfunction. These factors not only impede metabolism but also encourage the storage of visceral fat, raising the risk of obesity-related illnesses. Without addressing these underlying causes, maintaining a healthy body weight is extremely impossible. How Does Mitolyn Work? Mitolyn is a science-backed, novel approach to weight loss that targets a primary reason that most fat management treatments overlook: low mitochondrial levels. These little powerhouses within your cells play an important part in your body's capacity to burn fat, generate energy, and maintain overall health. But how does Mitolyn do this? Mitolyn's success is based on its capacity to support and possibly increase the activity of mitochondria. Mitochondria transform the food you ingest into energy, known as ATP. This energy powers everything, from muscular contraction to brain activity. Low mitochondrial levels reduce energy generation, delay fat burning and cause undesirable weight gain. Mitolyn works to rejuvenate these cellular powerhouses, potentially helping your body burn fat more efficiently and produce the energy it requires to survive. Mitolyn is a holistic health supplement that does more than just help you lose weight. It can help promote cholesterol balance and may improve circulation, both of which benefit heart health. The mixture can also improve immune function, allowing your body to fight off infections more efficiently. It may help improve skin, liver and digestive health, possibly resulting in a more vibrant and energetic lifestyle. Chronic stress is a silent impediment to successful weight management. Mitolyn contains substances that may help control stress hormones, boost mood and promote mental clarity. Mitolyn can help promote the smoothest possible weight loss path by addressing both physical and mental well-being. Researchers discovered that decreased mitochondrial levels are a common cause in obese people. Mitolyn builds on this discovery by addressing the cellular basis of energy and fat metabolism. It's a comprehensive program designed to help you accomplish not only weight loss but also total energy and wellness. Click here to check out the official website for Mitolyn >>> What Do The Customers Say? — Mitolyn Reviews Customers who have tried Mitolyn have shared remarkable transformation tales, emphasizing the product's effectiveness in helping them meet their weight loss goals. Some customers report significant weight loss, generally in the 30-40 pound range, which they struggled to attain with traditional approaches. The most frequently claimed effects include increased energy, enhanced metabolism, and greater confidence in their appearance. One common topic in evaluations is the desire to better one's lifestyle. Customers frequently report feeling more active and capable of participating in daily tasks that were earlier laborious. Mitolyn appears to help more than just weight loss — it helps improve general well-being. Many purchasers prefer multi-bottle bundles, particularly the six-bottle option, because they allow for more consistent use and provide better value. This demonstrates users' belief in Mitolyn's capacity to produce long-term outcomes. Some customers even say that Mitolyn re-energized their metabolism after years of stagnation, allowing them to burn stubborn belly fat and break through painful weight plateaus. Overall, consumers feel empowered and driven, with Mitolyn playing a key role in their quest for better health and happiness. Composition Of Mitolyn Mitolyn is unique in terms of formulation. It is created using plant-based compounds, vitamins, and minerals. After a thorough research and examination, here are some of the main Mitolyn ingredients: Photo provided by Mitolyn Rhodiola is a potent adaptogen known for its potential ability to battle both physical and mental stress, making it a crucial element in Mitolyn. Stress frequently disturbs the body's metabolism, resulting in weight gain and energy depletion. Rhodiola works by improving mitochondrial activity, increasing energy output, and promoting fat metabolism. It also can regulate cortisol levels, which reduces stress-induced cravings and impulsive eating. Rhodiola may also boost endurance and stamina, allowing you to perform better throughout the exercise. This powerful herb keeps your body in peak condition for effective weight management by addressing both mental and physical pressures. Amla, commonly referred to as Indian gooseberry, is a high-antioxidant, vitamin C-rich superfood. This superfruit promotes healthy metabolism by lowering oxidative stress in mitochondria, allowing them to function more efficiently. Amla improves digestion and detoxification, which are essential for a healthy weight. Its anti-inflammatory qualities contribute to the reduction of chronic inflammation, which is frequently associated with persistent fat storage. Furthermore, Amla promotes greater absorption of nutrients, ensuring that your body receives the necessary components for energy production. Amla is an important ingredient in Mitolyn's weight loss recipe because of its capacity to potentially enhance metabolic health as well as cell function. Schisandra is a multi-purpose herb that promotes mitochondrial health by increasing energy output and decreasing weariness. It is well-known for its adaptogenic characteristics, which aid in the body's ability to cope with stress, a typical obstacle to weight loss. Schisandra also improves liver function by assisting in the detoxification processes required for proper metabolism. Its strong antioxidant concentration prevents oxidative stress and maintains mitochondrial integrity. Furthermore, Schisandra regulates blood sugar levels, lowering cravings and encouraging consistent energy. This substance keeps your body energized and concentrated during your weight-loss journey. Get Mitolyn now while it's on sale - limited time only! Maqui Berry contains a high concentration of antioxidants, especially anthocyanins, which shield mitochondria from oxidative stress. This superfruit improves fat metabolism by promoting healthy production of energy at the cellular level. Maqui Berry's anti-inflammatory characteristics also help to promote healthy metabolism, lowering the danger of fat storage caused by chronic inflammation. Furthermore, its capacity to regulate blood sugar levels reduces spikes and crashes, which aids in the control of appetite and cravings. Maqui Berry, with its numerous metabolic benefits, is an important component of Mitolyn's composition. Haematococcus is best recognized for its high levels of astaxanthin, a powerful antioxidant that promotes mitochondrial function. Astaxanthin protects mitochondria from oxidative damage, resulting in maximum energy generation and fat-burning capacity. This component also improves cardiovascular health by supporting healthy blood flow, which is required for nutrient delivery and waste disposal at the cellular level. Haematococcus decreases inflammation, which is a major contributor to metabolic slowing and weight gain. Its unique capacity to increase cellular energy makes it an essential component of Mitolyn, helping to promote efficient fat metabolism and general health. Theobroma cacao, sometimes known as the "food of the gods," is an organic source of flavonoids and magnesium, each of which improves mitochondrial function. It stimulates energy generation by boosting blood flow to cells, ensuring that mitochondria receive vital nutrients. Theobroma Cacao also offers mood-enhancing qualities, lowering stress and preventing emotional eating. Its ability to regulate blood sugar levels reduces insulin surges that cause fat storage. Theobroma Cacao enhances Mitolyn's weight management strategy by promoting metabolic health as well as emotional well-being. Mitolyn Pricing, Availability, And Offers Mitolyn is a low-cost weight loss supplement that can help anyone battling with excess fat. To ensure quality and genuineness, the manufacturers offer it exclusively through the official website. This removes intermediaries, lowers costs and prevents phony goods from reaching the market. Customers who purchase directly receive real Mitolyn with guaranteed quality, safe payment options, and exclusive savings and multi-bottle bundles for long-term benefits. Let’s understand its pricing structure: Photo provided by Mitolyn Mitolyn provides adjustable packages to meet various demands and weight loss goals. The single-bottle option is suitable for first-time users who want to evaluate the supplement's efficacy. For those looking for constant progress and visible results, the three-bottle box is an excellent choice since it delivers enough supplies to see consistent benefits. However, for strong, long-term results and the best value, the six-bottle bundle is highly recommended. This option is ideal for people who are determined to lose significant weight and maintain a healthy lifestyle over time. All packages offer complimentary bonuses, which increase the overall worth of the purchase. By selecting a multi-bottle package, consumers ensure continuous use, increasing their chances of achieving long-term health and weight transformation. 100% Satisfaction Guarantee Mitolyn has a 100% satisfaction promise and a 90-day money-back guarantee, allowing users peace of mind to try it risk-free. This policy enables individuals to test Mitolyn's efficacy without incurring financial costs. If users are dissatisfied with the outcomes, they may request a full refund within 90 days after purchase. Customers can simply contact the support team by emailing Contact@mitolyn.com or calling 1800-390-6035. This simple approach assures that everyone can enjoy Mitolyn's benefits with total confidence, making it a trustworthy and customer-focused weight loss option. You won't find a better deal on Mitolyn anywhere else! Free Bonuses With Mitolyn Fat Burner When users purchase three or six bottles of Mitolyn, they get free access to their bonus items. These are eBooks worth $100+, but you get them for free with Mitolyn. Here are these eBooks are about: The 1-Day Kickstart Detox is a strong guide that will reset your body and prepare it for successful weight loss. This ebook, packed with simple recipes and natural detox strategies, will help you remove toxins, minimize bloating, and raise your energy levels in just 24 hours. It works well with Mitolyn, ensuring that your body is in optimal condition to get the benefits of the supplement. Whether you're just starting out on your weight loss journey or need a quick boost, this detox regimen can revive your system and put you on track for success. Renew You is an inspirational ebook that focuses on improving your mental and emotional health while you lose weight. It provides practical ways for coping with stress, improving mood, and developing an optimistic mindset, addressing the often-overlooked psychological obstacles to accomplishing fitness goals. This book supports Mitolyn by providing ideas on mindfulness, self-care routines, and stress management to keep you motivated and balanced. Renew You helps you not only alter your body but also develop your confidence and mental toughness, resulting in a comprehensive approach to long-term health and well-being. Is Mitolyn Right For You? — Final Words Mitolyn provides a different perspective on weight loss, focusing on mitochondria to help your body reach its full potential. It's more than just a quick fix; it's a tool for individuals who want to adopt a long-term commitment to health and fitness. While it can potentially produce great effects for many people, it is critical to control expectations and recognize that it works best when combined with regularity and a healthy lifestyle. Mitolyn is designed for people who want to invest in their long-term health rather than take shortcuts. If you're weary of irritating weight loss plateaus and need a scientifically proven boost, Mitolyn could be the game changer you've been looking for. (LIMITED STOCK) Click Here to Buy Mitolyn at a Special Discounted Price Today! Be the first to knowJudge rejects request to sideline SJSU volleyball player
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