Microalgae-driven nutrient recovery represents a promising technology to reduce effluent phosphorus while simultaneously generating biomass that can be valorized to offset treatment costs. As full-scale processes come online, system parameters including biomass composition must be carefully monitored to optimize performance and prevent culture crashes. In this study, flow imaging microscopy (FIM) was leveraged to characterize microalgal community composition in near real-time at a full-scale municipal wastewater treatment plant (WWTP) in Wisconsin, USA, and population and morphotype dynamics were examined to identify relationships between water chemistry, biomass composition, and system performance. Two FIM technologies, FlowCam and ARTiMiS, were evaluated as monitoring tools. ARTiMiS provided a more accurate estimate of total system biomass, and estimates derived from particle area as a proxy for biovolume yielded better approximations than particle counts. Deep learning classification models trained on annotated image libraries demonstrated equivalent performance between FlowCam and ARTiMiS, and convolutional neural network (CNN) classifiers proved significantly more accurate when compared to feature table-based deep neural network (DNN) models. Across a two-year study period,Scenedesmusspp. appeared most important for phosphorus removal, which were negatively associated with elevated temperatures and nitrite/nitrate concentrations.ChlorellaandMonoraphidiumalso played an important role in system performance. For bothScenedesmusandChlorella, smaller morphological types were more often associated with high system performance, whereas larger morphotypes implied a stress response correlating with poor phosphorus recovery rates. These results demonstrate the potential of FIM as a critical technology for high-resolution characterization of industrial microalgal processes.Graphical Abstract