38.2m has already been hit. 27m backlog plus 3.7 recognised revenue for q1, plus 7.5m in confirmed new business wins in q1 already published in latest q1 management report. Richard is correct in saying q1 is traditionally slow for fluence, in q1 2019 sps revenue was 2.8m and each quarter ramping up with the year ended 20.7m, rinse and repeat 2020 with q1 sps revenue 2.9m and year ended with 32.4m. In all likelihood by end of 2021 should easily surpass midpoint forecast of 42.5m
Ann: Fluence Business Update for Q1 2021, page-33
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