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Side-by-side financial comparison of Clarus Corp (CLAR) and FUELCELL ENERGY INC (FCEL). Click either name above to swap in a different company.
Clarus Corp is the larger business by last-quarter revenue ($65.4M vs $55.0M, roughly 1.2× FUELCELL ENERGY INC). Clarus Corp runs the higher net margin — -47.8% vs -54.3%, a 6.5% gap on every dollar of revenue. On growth, FUELCELL ENERGY INC posted the faster year-over-year revenue change (11.5% vs -8.4%). Clarus Corp produced more free cash flow last quarter ($11.6M vs $-23.9M). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs -2.9%).
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
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.
CLAR vs FCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $65.4M | $55.0M |
| Net Profit | $-31.3M | $-29.9M |
| Gross Margin | 27.7% | -12.1% |
| Operating Margin | -59.6% | -51.5% |
| Net Margin | -47.8% | -54.3% |
| Revenue YoY | -8.4% | 11.5% |
| Net Profit YoY | 52.3% | 27.9% |
| EPS (diluted) | $-0.81 | $-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 | $65.4M | $55.0M | ||
| Q3 25 | $69.3M | $46.7M | ||
| Q2 25 | $55.2M | $37.4M | ||
| Q1 25 | $60.4M | $19.0M | ||
| Q4 24 | $71.4M | $49.3M | ||
| Q3 24 | $67.1M | $23.7M | ||
| Q2 24 | $56.5M | $22.4M | ||
| Q1 24 | $69.3M | $16.7M |
| Q4 25 | $-31.3M | $-29.9M | ||
| Q3 25 | $-1.6M | $-91.7M | ||
| Q2 25 | $-8.4M | $-38.0M | ||
| Q1 25 | $-5.2M | $-28.3M | ||
| Q4 24 | $-65.5M | $-41.4M | ||
| Q3 24 | $-3.2M | $-32.7M | ||
| Q2 24 | $-5.5M | $-32.1M | ||
| Q1 24 | $21.9M | $-19.8M |
| Q4 25 | 27.7% | -12.1% | ||
| Q3 25 | 35.1% | -11.0% | ||
| Q2 25 | 35.6% | -25.2% | ||
| Q1 25 | 34.4% | -27.4% | ||
| Q4 24 | 33.4% | -22.1% | ||
| Q3 24 | 35.0% | -26.2% | ||
| Q2 24 | 36.1% | -31.6% | ||
| Q1 24 | 35.9% | -70.2% |
| Q4 25 | -59.6% | -51.5% | ||
| Q3 25 | -4.4% | -204.0% | ||
| Q2 25 | -19.7% | -95.7% | ||
| Q1 25 | -11.2% | -172.9% | ||
| Q4 24 | -70.2% | -83.2% | ||
| Q3 24 | -8.0% | -141.9% | ||
| Q2 24 | -14.4% | -184.5% | ||
| Q1 24 | -9.8% | -254.5% |
| Q4 25 | -47.8% | -54.3% | ||
| Q3 25 | -2.3% | -196.1% | ||
| Q2 25 | -15.3% | -101.7% | ||
| Q1 25 | -8.7% | -149.1% | ||
| Q4 24 | -91.8% | -84.0% | ||
| Q3 24 | -4.7% | -137.8% | ||
| Q2 24 | -9.7% | -143.4% | ||
| Q1 24 | 31.6% | -118.6% |
| Q4 25 | $-0.81 | $-0.43 | ||
| Q3 25 | $-0.04 | $-3.78 | ||
| Q2 25 | $-0.22 | $-1.79 | ||
| Q1 25 | $-0.14 | $-1.42 | ||
| Q4 24 | $-1.72 | $-2.29 | ||
| Q3 24 | $-0.08 | $-1.99 | ||
| Q2 24 | $-0.14 | $-2.18 | ||
| Q1 24 | $0.57 | $-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 | $36.7M | $278.1M |
| Total DebtLower is stronger | $0 | $103.8M |
| Stockholders' EquityBook value | $196.4M | $662.2M |
| Total Assets | $249.0M | $932.1M |
| Debt / EquityLower = less leverage | 0.00× | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.7M | $278.1M | ||
| Q3 25 | $29.5M | $174.7M | ||
| Q2 25 | $28.5M | $177.0M | ||
| Q1 25 | $41.3M | $208.4M | ||
| Q4 24 | $45.4M | $257.3M | ||
| Q3 24 | $36.4M | $267.2M | ||
| Q2 24 | $46.2M | $260.1M | ||
| Q1 24 | $47.5M | $297.5M |
| Q4 25 | $0 | $103.8M | ||
| Q3 25 | $2.0M | $106.4M | ||
| Q2 25 | $1.9M | $109.4M | ||
| Q1 25 | $1.9M | $112.3M | ||
| Q4 24 | $1.9M | $115.7M | ||
| Q3 24 | — | $112.7M | ||
| Q2 24 | — | $116.2M | ||
| Q1 24 | $37.0K | $107.2M |
| Q4 25 | $196.4M | $662.2M | ||
| Q3 25 | $225.8M | $556.2M | ||
| Q2 25 | $225.1M | $609.2M | ||
| Q1 25 | $229.3M | $635.2M | ||
| Q4 24 | $233.1M | $656.9M | ||
| Q3 24 | $308.5M | $675.8M | ||
| Q2 24 | $307.3M | $639.8M | ||
| Q1 24 | $310.4M | $663.9M |
| Q4 25 | $249.0M | $932.1M | ||
| Q3 25 | $283.1M | $830.5M | ||
| Q2 25 | $286.5M | $883.8M | ||
| Q1 25 | $292.8M | $907.5M | ||
| Q4 24 | $294.1M | $944.1M | ||
| Q3 24 | $375.3M | $948.9M | ||
| Q2 24 | $369.4M | $916.8M | ||
| Q1 24 | $377.0M | $923.2M |
| Q4 25 | 0.00× | 0.16× | ||
| Q3 25 | 0.01× | 0.19× | ||
| Q2 25 | 0.01× | 0.18× | ||
| Q1 25 | 0.01× | 0.18× | ||
| Q4 24 | 0.01× | 0.18× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.18× | ||
| Q1 24 | 0.00× | 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 | $12.5M | $-22.9M |
| Free Cash FlowOCF − Capex | $11.6M | $-23.9M |
| FCF MarginFCF / Revenue | 17.7% | -43.4% |
| Capex IntensityCapex / Revenue | 1.4% | 1.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-9.9M | $-143.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.5M | $-22.9M | ||
| Q3 25 | $-5.7M | $-26.8M | ||
| Q2 25 | $-9.4M | $-29.9M | ||
| Q1 25 | $-2.1M | $-45.7M | ||
| Q4 24 | $16.6M | $5.8M | ||
| Q3 24 | $-8.3M | $-63.4M | ||
| Q2 24 | $834.0K | $-37.1M | ||
| Q1 24 | $-16.4M | $-58.3M |
| Q4 25 | $11.6M | $-23.9M | ||
| Q3 25 | $-7.0M | $-32.1M | ||
| Q2 25 | $-11.3M | $-35.2M | ||
| Q1 25 | $-3.3M | $-52.8M | ||
| Q4 24 | $14.4M | $-4.7M | ||
| Q3 24 | $-9.4M | $-76.8M | ||
| Q2 24 | $-744.0K | $-50.3M | ||
| Q1 24 | $-18.3M | $-68.8M |
| Q4 25 | 17.7% | -43.4% | ||
| Q3 25 | -10.0% | -68.6% | ||
| Q2 25 | -20.4% | -94.0% | ||
| Q1 25 | -5.4% | -277.8% | ||
| Q4 24 | 20.1% | -9.5% | ||
| Q3 24 | -14.0% | -324.0% | ||
| Q2 24 | -1.3% | -224.5% | ||
| Q1 24 | -26.3% | -412.4% |
| Q4 25 | 1.4% | 1.8% | ||
| Q3 25 | 1.8% | 11.2% | ||
| Q2 25 | 3.4% | 14.1% | ||
| Q1 25 | 2.0% | 37.2% | ||
| Q4 24 | 3.1% | 21.4% | ||
| Q3 24 | 1.6% | 56.6% | ||
| Q2 24 | 2.8% | 58.9% | ||
| Q1 24 | 2.7% | 63.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.75× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
