ARLINGTON, Va. — Fluence Energy Inc. shares skyrocketed nearly 40% on Thursday, closing at $18.97 after surging as high as $20.29 intraday, as investors cheered the energy storage company's record order backlog and new deals with hyperscale data center operators even after a significant revenue miss in its fiscal second-quarter results.

The battery storage and software specialist added more than $5.40 per share in market value, with volume exceeding 45 million shares — far above the daily average. Overnight trading pushed shares even higher to around $19.45, reflecting continued momentum into early Friday. The rally marks one of the largest single-day gains in the company's history and underscores Wall Street's focus on future growth potential in the booming AI-driven energy storage market.

Fluence reported fiscal Q2 revenue of $464.9 million for the period ended March 31, up 7.7% from a year earlier but well short of analyst expectations around $611 million to $628 million. The company posted a net loss of $29.2 million, or 16 cents per share, beating consensus estimates of an 18-cent loss. Adjusted gross margin improved to 11.1%, and adjusted EBITDA loss narrowed substantially to $9.4 million.

Backlog and Hyperscaler Deals Steal the Spotlight

Despite the top-line shortfall — partly attributed to shipping delays — Fluence highlighted explosive demand with a record........

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