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
$49.3M
Gross Profit
$-10.9M
Operating Profit
$-41.0M
Net Profit
$-41.4M
Gross Margin
-22.1%
Operating Margin
-83.2%
Net Margin
-84.0%
YoY Growth
119.6%
EPS
$-2.29
FUELCELL ENERGY INC Q4 FY2024 Financial Summary
FUELCELL ENERGY INC reported revenue of $49.3M (up 119.6% YoY) for Q4 FY2024, with a net profit of $-41.4M (down 36.4% YoY) (-84.0% margin). Cost of goods sold was $60.2M, operating expenses totaled $30.1M.
Key Financial Metrics
| Total Revenue | $49.3M |
|---|---|
| Net Profit | $-41.4M |
| Gross Margin | -22.1% |
| Operating Margin | -83.2% |
| Report Period | Q4 FY2024 |
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 |