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Fluence Energy vs Novanta: FLNC and NOVT compared
Fluence Energy is the larger company: $650M of revenue in its latest quarter (Q3 FY26) against $266M for Novanta (Q2 2026). Novanta is growing faster (+10% against +8% a year earlier). Novanta is more profitable, with an operating margin of 6.8% against -6.7%.
Where the money goes: FLNC and NOVT
Fluence Energy (FLNC) · Q3 FY26
Fluence Energy, Q3 FY26: revenue $650M (+8% year over year), operating margin -6.7%, net loss $44.3M, operating cash flow −$18.6M. The chart follows the revenue to costs, profit and cash.
Novanta (NOVT) · Q2 2026
Novanta, Q2 2026: revenue $266M (+10% year over year), operating margin 6.8%, net earnings $12.5M, operating cash flow $64.9M. The chart follows the revenue to costs, profit and cash.
| Fluence Energy (FLNC) | Novanta (NOVT) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q2 2026 |
| Revenue | $650M | $266M |
| Revenue growth, Y/Y | +8% | +10% |
| Gross margin | — | 45.5% |
| Operating margin | -6.7% | 6.8% |
| Net earnings | −$44.3M | $12.5M |
| Net margin | -6.8% | 4.7% |
| Operating cash flow | −$18.6M | $64.9M |
| Free cash flow | — | $57.5M |
| Market value | $728M | $5.6B |
| P/E | — | 91.1× |
| Analysts’ mean target | $7.95 | $194.50 |
Where the revenue comes from
Fluence Energy
- Revenue from energy storage products and solutions: $627M (97%)
- Revenue from services: $20.1M (3%)
- Revenue from digital applications and solutions: $2.5M (0%)
Questions
Which is bigger, Fluence Energy or Novanta?
Fluence Energy is the larger company: $650M of revenue in its latest quarter (Q3 FY26) against $266M for Novanta (Q2 2026).
Is Fluence Energy or Novanta growing faster?
Novanta is growing faster (+10% against +8% a year earlier).
Which is more profitable, Fluence Energy or Novanta?
Novanta is more profitable, with an operating margin of 6.8% against -6.7%.
More: Fluence Energy earnings · how Fluence Energy makes money · Novanta earnings · how Novanta makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 5, 2026; 10-Q filed Aug 5, 2026). Fiscal quarters can end on different dates. Not investment advice.