05:44 AM EST, 02/11/2025 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Fluence Energy's ( FLNC ) shares were down more than 35% in premarket activity on Tuesday after the company reported overnight fiscal Q1 loss more than doubled as sales plunged from a year ago and it cut full-year revenue guidance.

The company reported a fiscal Q1 loss late Monday of $0.32 per diluted share, compared with a $0.14 loss a year earlier.

Analysts polled by FactSet expected a loss of $0.19.

Revenue in the three months ended Dec. 31 was $186.8 million, down from $364.0 million a year earlier.

The company now expects fiscal 2025 revenue of $3.1 billion to $3.7 billion, compared with its previous guidance of $3.6 billion to $4.4 billion.

Analysts polled by FactSet expect $3.92 billion.