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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and FUELCELL ENERGY INC (FCEL). Click either name above to swap in a different company.
FUELCELL ENERGY INC is the larger business by last-quarter revenue ($55.0M vs $44.9M, roughly 1.2× AbCellera Biologics Inc.). AbCellera Biologics Inc. runs the higher net margin — -19.9% vs -54.3%, a 34.3% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 11.5%). FUELCELL ENERGY INC produced more free cash flow last quarter ($-23.9M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 81.6%).
AbCellera Biologics Inc. is a Vancouver, British Columbia-based biotechnology company that discovers and develops antibody therapeutics. The company is best known for its leading role in the Pandemic Prevention Platform, a project of DARPA's Biological Technologies Office. AbCellera utilizes a proprietary technology platform, which they claim can develop "medical countermeasures within 60 days." Its platform for single-cell screening was initially developed at the University of British Columbia.
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.
ABCL vs FCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $55.0M |
| Net Profit | $-8.9M | $-29.9M |
| Gross Margin | — | -12.1% |
| Operating Margin | -63.7% | -51.5% |
| Net Margin | -19.9% | -54.3% |
| Revenue YoY | 788.4% | 11.5% |
| Net Profit YoY | 73.9% | 27.9% |
| EPS (diluted) | $-0.03 | $-0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $44.9M | $55.0M | ||
| Q3 25 | $9.0M | $46.7M | ||
| Q2 25 | $17.1M | $37.4M | ||
| Q1 25 | $4.2M | $19.0M | ||
| Q4 24 | $5.0M | $49.3M | ||
| Q3 24 | $6.5M | $23.7M | ||
| Q2 24 | $7.3M | $22.4M | ||
| Q1 24 | $10.0M | $16.7M |
| Q4 25 | $-8.9M | $-29.9M | ||
| Q3 25 | $-57.1M | $-91.7M | ||
| Q2 25 | $-34.7M | $-38.0M | ||
| Q1 25 | $-45.6M | $-28.3M | ||
| Q4 24 | — | $-41.4M | ||
| Q3 24 | $-51.1M | $-32.7M | ||
| Q2 24 | $-36.9M | $-32.1M | ||
| Q1 24 | $-40.6M | $-19.8M |
| Q4 25 | — | -12.1% | ||
| Q3 25 | — | -11.0% | ||
| Q2 25 | — | -25.2% | ||
| Q1 25 | — | -27.4% | ||
| Q4 24 | — | -22.1% | ||
| Q3 24 | — | -26.2% | ||
| Q2 24 | — | -31.6% | ||
| Q1 24 | — | -70.2% |
| Q4 25 | -63.7% | -51.5% | ||
| Q3 25 | -851.8% | -204.0% | ||
| Q2 25 | -290.2% | -95.7% | ||
| Q1 25 | -1479.6% | -172.9% | ||
| Q4 24 | — | -83.2% | ||
| Q3 24 | -1439.4% | -141.9% | ||
| Q2 24 | -1276.2% | -184.5% | ||
| Q1 24 | -551.5% | -254.5% |
| Q4 25 | -19.9% | -54.3% | ||
| Q3 25 | -637.8% | -196.1% | ||
| Q2 25 | -203.3% | -101.7% | ||
| Q1 25 | -1077.2% | -149.1% | ||
| Q4 24 | — | -84.0% | ||
| Q3 24 | -785.4% | -137.8% | ||
| Q2 24 | -504.3% | -143.4% | ||
| Q1 24 | -408.0% | -118.6% |
| Q4 25 | $-0.03 | $-0.43 | ||
| Q3 25 | $-0.19 | $-3.78 | ||
| Q2 25 | $-0.12 | $-1.79 | ||
| Q1 25 | $-0.15 | $-1.42 | ||
| Q4 24 | — | $-2.29 | ||
| Q3 24 | $-0.17 | $-1.99 | ||
| Q2 24 | $-0.13 | $-2.18 | ||
| Q1 24 | $-0.14 | $-1.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $128.5M | $278.1M |
| Total DebtLower is stronger | — | $103.8M |
| Stockholders' EquityBook value | $966.9M | $662.2M |
| Total Assets | $1.4B | $932.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $278.1M | ||
| Q3 25 | $83.2M | $174.7M | ||
| Q2 25 | $92.4M | $177.0M | ||
| Q1 25 | $159.3M | $208.4M | ||
| Q4 24 | $156.3M | $257.3M | ||
| Q3 24 | $126.6M | $267.2M | ||
| Q2 24 | $148.3M | $260.1M | ||
| Q1 24 | $123.6M | $297.5M |
| Q4 25 | — | $103.8M | ||
| Q3 25 | — | $106.4M | ||
| Q2 25 | — | $109.4M | ||
| Q1 25 | — | $112.3M | ||
| Q4 24 | — | $115.7M | ||
| Q3 24 | — | $112.7M | ||
| Q2 24 | — | $116.2M | ||
| Q1 24 | — | $107.2M |
| Q4 25 | $966.9M | $662.2M | ||
| Q3 25 | $964.0M | $556.2M | ||
| Q2 25 | $1.0B | $609.2M | ||
| Q1 25 | $1.0B | $635.2M | ||
| Q4 24 | $1.1B | $656.9M | ||
| Q3 24 | $1.1B | $675.8M | ||
| Q2 24 | $1.1B | $639.8M | ||
| Q1 24 | $1.1B | $663.9M |
| Q4 25 | $1.4B | $932.1M | ||
| Q3 25 | $1.4B | $830.5M | ||
| Q2 25 | $1.4B | $883.8M | ||
| Q1 25 | $1.3B | $907.5M | ||
| Q4 24 | $1.4B | $944.1M | ||
| Q3 24 | $1.4B | $948.9M | ||
| Q2 24 | $1.4B | $916.8M | ||
| Q1 24 | $1.5B | $923.2M |
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.18× | ||
| Q1 24 | — | 0.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-34.7M | $-22.9M |
| Free Cash FlowOCF − Capex | $-44.6M | $-23.9M |
| FCF MarginFCF / Revenue | -99.4% | -43.4% |
| Capex IntensityCapex / Revenue | 21.9% | 1.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $-143.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $-22.9M | ||
| Q3 25 | $-52.6M | $-26.8M | ||
| Q2 25 | $-32.4M | $-29.9M | ||
| Q1 25 | $-11.6M | $-45.7M | ||
| Q4 24 | $-108.6M | $5.8M | ||
| Q3 24 | $-28.9M | $-63.4M | ||
| Q2 24 | $-30.0M | $-37.1M | ||
| Q1 24 | $-41.7M | $-58.3M |
| Q4 25 | $-44.6M | $-23.9M | ||
| Q3 25 | $-61.5M | $-32.1M | ||
| Q2 25 | $-45.8M | $-35.2M | ||
| Q1 25 | $-22.2M | $-52.8M | ||
| Q4 24 | $-187.0M | $-4.7M | ||
| Q3 24 | $-47.4M | $-76.8M | ||
| Q2 24 | $-50.1M | $-50.3M | ||
| Q1 24 | $-65.8M | $-68.8M |
| Q4 25 | -99.4% | -43.4% | ||
| Q3 25 | -687.0% | -68.6% | ||
| Q2 25 | -267.9% | -94.0% | ||
| Q1 25 | -524.0% | -277.8% | ||
| Q4 24 | -3702.8% | -9.5% | ||
| Q3 24 | -728.4% | -324.0% | ||
| Q2 24 | -683.8% | -224.5% | ||
| Q1 24 | -661.5% | -412.4% |
| Q4 25 | 21.9% | 1.8% | ||
| Q3 25 | 99.7% | 11.2% | ||
| Q2 25 | 78.2% | 14.1% | ||
| Q1 25 | 251.1% | 37.2% | ||
| Q4 24 | 1552.7% | 21.4% | ||
| Q3 24 | 284.6% | 56.6% | ||
| Q2 24 | 274.6% | 58.9% | ||
| Q1 24 | 242.5% | 63.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
