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fluence 28 October 2021 Fluence Corporation Quarterly Activities Report Fluence Corporation Limited ( ASX : FLC ; the " Company " ) presents its Quarterly Activities Report and accompanying ASX Appendix 4C ( the “ Quarterly Cashflow Report " ) for the quarter ended 30 September 2021 ( “ Q3 FY2021 " ) . All financial numbers herein are in US dollars . Q3 FY2021 Summary ■ ■ ■ ■ ■ ■ Strong Revenue Growth - Revenue of $ 20.0M up 46 % over Q3 FY2020 . SPS revenues of $ 7.4M in Q3 FY2021 brings FY2021 year - to - date Smart Product Solutions ( " SPS " ) revenues to $ 18.9M . SPS Booking , Backlog¹ and Outlook Strong - Including the recent Cambodia order , FY2021 year - to - date SPS bookings were $ 27.1M with current SPS backlog of $ 16.2M , of which $ 11.3M is anticipated to be recognized as revenue in FY2021 . Continued Strong Adoption of MABR SPS - 44 MABR plants sold year to date including recent Cambodia order , bringing the total sold worldwide to 290 , capable of treating wastewater for 900,000 people . Backlog¹ Strong – $ 158.5M contracted backlog of which SPS backlog is $ 16.2M , showing strong SPS momentum . - Cost Out Improvement – Continued operating efficiency gains - operating expenses down 14 % versus Q3 FY2020 . Year - to - date FY2021 costs are down 11 % on the same period in 2020 . Low Operating Cash Outflow - Operating cash flow outflow in Q3 FY2021 of $ 2.0M down from $ 5.9M in Q3 FY2020 . Net Cash Position - Cash balance of $ 16.3M , as well as $ 35.7M in short and long - term liquid investments . Smart Products Solutions ( SPS ) and Business Development When completed , the recently announced $ 8.5M contract in Cambodia will be the largest capacity MABR plant worldwide from any vendor . MABR sales in Q3 FY2021 included the first plants in Dubai and St. Lucia . The Dubai win is important given the strong trend towards wastewater reuse in the Gulf countries . Securing the St. Lucia MABR contract is key in advancing MABR for wastewater reuse as a service in the Caribbean . The company signed a Joint Development Agreement with Beijing Enterprises Water Group ( China ) Investment Limited ( " BEWG " ) to focus on optimizing Aspiral MABR plants with intent to jointly sell these globally . BEWG manages 1,115 wastewater treatment plants . 1 Note : " Backlog " only includes amounts that have been formally contracted for sale and not yet delivered to the customers and therefore still to be recognized as revenue . In particular for revenue from sale of water contracts , it includes only 12 months of future revenue and does not include the remaining amount previously announced under volume partnerships . There is approx . $ 45M that remains from existing Volume Partnership Agreements that are yet to be contracted for sale and hence are not included in this Backlog number . 1