FUELCELL ENERGY INCFCELEarnings & Financial Report
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.
Revenue
$22.4M
Gross Profit
$-7.1M
Operating Profit
$-41.4M
Net Profit
$-32.1M
Gross Margin
-31.6%
Operating Margin
-184.5%
Net Margin
-143.4%
YoY Growth
-41.5%
EPS
$-2.18
FUELCELL ENERGY INC Q2 FY2024 Financial Summary
FUELCELL ENERGY INC reported revenue of $22.4M (down 41.5% YoY) for Q2 FY2024, with a net profit of $-32.1M (up 6.3% YoY) (-143.4% margin). Cost of goods sold was $29.5M, operating expenses totaled $34.3M.
Key Financial Metrics
| Total Revenue | $22.4M |
|---|---|
| Net Profit | $-32.1M |
| Gross Margin | -31.6% |
| Operating Margin | -184.5% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
FUELCELL ENERGY INC Q2 FY2024 revenue of $22.4M breaks down across 3 segments, led by Electricity Generation at $14.1M (63.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Electricity Generation | $14.1M | 63.0% |
| Advanced Technologies | $6.9M | 30.9% |
| Services | $1.4M | 6.1% |
FUELCELL ENERGY INC Revenue by Segment — Quarterly Trend
FUELCELL ENERGY INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Electricity Generation and Advanced Technologies) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Electricity Generation | $12.2M | $12.4M | $12.1M | $11.3M |
| Advanced Technologies | $5.5M | $5.3M | $4.1M | $5.7M |
| Services | $7.3M | $3.1M | $8.1M | $1.8M |
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).
| Year | Annual Revenue |
|---|---|
| 2025 | $158.2M |
| 2024 | $112.1M |
| 2023 | $123.4M |
| 2022 | $130.5M |
FUELCELL ENERGY INC Quarterly Revenue & Net Profit History
FUELCELL ENERGY INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $55.0M | +11.5% | $-29.9M | -54.3% |
| Q3 FY2025 | $46.7M | +97.3% | $-91.7M | -196.1% |
| Q2 FY2025 | $37.4M | +66.8% | $-38.0M | -101.7% |
| Q1 FY2025 | $19.0M | +13.8% | $-28.3M | -149.1% |
| Q4 FY2024 | $49.3M | +119.6% | $-41.4M | -84.0% |
| Q3 FY2024 | $23.7M | -7.1% | $-32.7M | -137.8% |
| Q2 FY2024 | $22.4M | -41.5% | $-32.1M | -143.4% |
| Q1 FY2024 | $16.7M | -55.0% | $-19.8M | -118.6% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 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 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 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 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-58.3M | $-37.1M | $-63.4M | $5.8M | $-45.7M | $-29.9M | $-26.8M | $-22.9M |