Flex (FLEX) Revenue — Quarter Ended Jun 30, 2023
Revenue declined in the quarter, continuing a downward trend observed over recent quarters. The decrease was modest compared to both the preceding quarter and the same quarter last year.
Key takeaway
Quarter ended Jun 30, 2023 · FY2024 Q1
Revenue declined in the quarter, continuing a downward trend observed over recent quarters. The decrease was modest compared to both the preceding quarter and the same quarter last year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.9B
Revenue reported for this quarter.
Quarter-over-quarter
-1.3%
Change from the immediately preceding quarter.
Year-over-year
-1.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$29.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $8.2B | +30.9% |
| Dec 31, 2022 | $7.8B | +17.2% |
| Mar 31, 2023 | $7B | +1.9% |
| Jun 30, 2023 | $6.9B | -1.0% |
Revenue performance
The reported revenue decreased from the prior quarter, marking the third consecutive quarterly decline. The year-over-year comparison also showed a slight drop.
Quarterly comparison
Sequentially, revenue edged lower, and the year-over-year comparison mirrored a similar modest decline. The pace of decline has slowed compared to larger drops earlier in the fiscal year.
What to watch
Monitor the impact of the Nextracker follow-on offering on the company’s ownership structure and financial flexibility.