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FUELCELL ENERGY INC

FUELCELL ENERGY INCFCELEarnings & Financial Report

Nasdaq

FuelCell Energy, Inc. is a publicly traded fuel cell company headquartered in Danbury, Connecticut. It designs, manufactures, operates and services power plants based on molten carbonate fuel cells.

FCEL Q4 2025 Key Financial Metrics

Revenue

$55.0M

Gross Profit

$-6.6M

Operating Profit

$-28.3M

Net Profit

$-29.9M

Gross Margin

-12.1%

Operating Margin

-51.5%

Net Margin

-54.3%

YoY Growth

11.5%

EPS

$-0.43

Financial Flow

FUELCELL ENERGY INC Q4 2025 Financial Summary

FUELCELL ENERGY INC reported revenue of $55.0M for Q4 2025, with a net profit of $-29.9M (-54.3% margin). Cost of goods sold was $61.6M, operating expenses totaled $21.7M.

Key Financial Metrics

Total Revenue$55.0M
Net Profit$-29.9M
Gross Margin-12.1%
Operating Margin-51.5%
Report PeriodQ4 2025

FUELCELL ENERGY INC Annual Revenue by Year

FUELCELL ENERGY INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $158.2M).

YearAnnual Revenue
2025$158.2M
2024$112.1M
2023$123.4M
2022$130.5M

Income Statement

Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025
Revenue$16.7M$22.4M$23.7M$49.3M$19.0M$37.4M$46.7M$55.0M
YoY Growth-55.0%-41.5%-7.1%119.6%13.8%66.8%97.3%11.5%

Balance Sheet

Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025
Assets$923.2M$916.8M$948.9M$944.1M$907.5M$883.8M$830.5M$932.1M
Liabilities$181.2M$204.9M$203.9M$216.7M$202.4M$205.0M$205.5M$201.0M
Equity$663.9M$639.8M$675.8M$656.9M$635.2M$609.2M$556.2M$662.2M

Cash Flow

Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025
Operating CF$-58.3M$-37.1M$-63.4M$5.8M$-45.7M$-29.9M$-26.8M$-22.9M