Fluence Achieves Positive Quarterly Cashflow
Melbourne, New York -- Fluence Corporation Limited (ASX: FLC) is pleased to announce that it has achieved positive operating cashflow for the quarter ended June 30 (Q2 2020) in line with previous guidance. The Company’s cash balance at the end of Q2 2020 was approximately US$20.0 million, up from US$16.9 million at the end of the first quarter.
Commenting on Fluence’s financial performance, Managing Director & CEO Henry Charrabé said: “Streamlining our operations and focusing on timely collections from customers enabled us to turn our operating cashflow positive. Despite global challenges and the economic slowdown, the Company is now in a stronger cash position with approximately US$20.0 million cash on hand at the end of June, than compared to US$16.9 million at the end of March.”
Further detail regarding the Company’s financial and operating performance will be provided in the forthcoming Q2 2020 business update at the end of this month.
About Fluence Corporation Limited (ASX: FLC)
Fluence is a leader in the decentralized water, wastewater and reuse treatment markets, with its Smart Products Solutions, including Aspiral, NIROBOX and SUBRE. Fluence offers an integrated range of services across the complete water cycle, from early stage evaluation, through design and delivery to ongoing support and optimization of water related assets, as well as Build Own Operate Transfer (BOOT) and other recurring revenue solutions. With established operations in North America, South America, the Middle East, Europe and China, Fluence has experience operating in over 70 countries worldwide and enables businesses and communities worldwide to maximize their water resources.