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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) and FUELCELL ENERGY INC (FCEL). Click either name above to swap in a different company.
ESTABLISHMENT LABS HOLDINGS INC. is the larger business by last-quarter revenue ($64.6M vs $55.0M, roughly 1.2× FUELCELL ENERGY INC). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs 11.5%). ESTABLISHMENT LABS HOLDINGS INC. produced more free cash flow last quarter ($-2.0M vs $-23.9M). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs 31.9%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
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.
ESTA vs FCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $55.0M |
| Net Profit | — | $-29.9M |
| Gross Margin | 70.5% | -12.1% |
| Operating Margin | -6.1% | -51.5% |
| Net Margin | — | -54.3% |
| Revenue YoY | 45.2% | 11.5% |
| Net Profit YoY | — | 27.9% |
| EPS (diluted) | $-0.07 | $-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 | $64.6M | $55.0M | ||
| Q3 25 | $53.8M | $46.7M | ||
| Q2 25 | $51.3M | $37.4M | ||
| Q1 25 | $41.4M | $19.0M | ||
| Q4 24 | $44.5M | $49.3M | ||
| Q3 24 | $40.2M | $23.7M | ||
| Q2 24 | $44.1M | $22.4M | ||
| Q1 24 | $37.2M | $16.7M |
| Q4 25 | — | $-29.9M | ||
| Q3 25 | $-11.1M | $-91.7M | ||
| Q2 25 | $-16.6M | $-38.0M | ||
| Q1 25 | $-20.7M | $-28.3M | ||
| Q4 24 | — | $-41.4M | ||
| Q3 24 | $-16.7M | $-32.7M | ||
| Q2 24 | $-17.2M | $-32.1M | ||
| Q1 24 | $-16.2M | $-19.8M |
| Q4 25 | 70.5% | -12.1% | ||
| Q3 25 | 70.1% | -11.0% | ||
| Q2 25 | 68.8% | -25.2% | ||
| Q1 25 | 67.2% | -27.4% | ||
| Q4 24 | 68.5% | -22.1% | ||
| Q3 24 | 63.9% | -26.2% | ||
| Q2 24 | 65.6% | -31.6% | ||
| Q1 24 | 65.6% | -70.2% |
| Q4 25 | -6.1% | -51.5% | ||
| Q3 25 | -7.5% | -204.0% | ||
| Q2 25 | -27.5% | -95.7% | ||
| Q1 25 | -41.0% | -172.9% | ||
| Q4 24 | -41.9% | -83.2% | ||
| Q3 24 | -32.7% | -141.9% | ||
| Q2 24 | -21.2% | -184.5% | ||
| Q1 24 | -23.8% | -254.5% |
| Q4 25 | — | -54.3% | ||
| Q3 25 | -20.7% | -196.1% | ||
| Q2 25 | -32.3% | -101.7% | ||
| Q1 25 | -50.1% | -149.1% | ||
| Q4 24 | — | -84.0% | ||
| Q3 24 | -41.5% | -137.8% | ||
| Q2 24 | -38.9% | -143.4% | ||
| Q1 24 | -43.6% | -118.6% |
| Q4 25 | $-0.07 | $-0.43 | ||
| Q3 25 | $-0.38 | $-3.78 | ||
| Q2 25 | $-0.57 | $-1.79 | ||
| Q1 25 | $-0.70 | $-1.42 | ||
| Q4 24 | $-1.21 | $-2.29 | ||
| Q3 24 | $-0.59 | $-1.99 | ||
| Q2 24 | $-0.62 | $-2.18 | ||
| Q1 24 | $-0.58 | $-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 | $75.6M | $278.1M |
| Total DebtLower is stronger | — | $103.8M |
| Stockholders' EquityBook value | $23.5M | $662.2M |
| Total Assets | $357.2M | $932.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $278.1M | ||
| Q3 25 | $70.6M | $174.7M | ||
| Q2 25 | $54.6M | $177.0M | ||
| Q1 25 | $69.2M | $208.4M | ||
| Q4 24 | $90.3M | $257.3M | ||
| Q3 24 | — | $267.2M | ||
| Q2 24 | — | $260.1M | ||
| Q1 24 | — | $297.5M |
| Q4 25 | — | $103.8M | ||
| Q3 25 | — | $106.4M | ||
| Q2 25 | — | $109.4M | ||
| Q1 25 | — | $112.3M | ||
| Q4 24 | $0 | $115.7M | ||
| Q3 24 | — | $112.7M | ||
| Q2 24 | — | $116.2M | ||
| Q1 24 | — | $107.2M |
| Q4 25 | $23.5M | $662.2M | ||
| Q3 25 | $16.4M | $556.2M | ||
| Q2 25 | $22.8M | $609.2M | ||
| Q1 25 | $38.5M | $635.2M | ||
| Q4 24 | $53.1M | $656.9M | ||
| Q3 24 | $32.7M | $675.8M | ||
| Q2 24 | $45.0M | $639.8M | ||
| Q1 24 | $56.9M | $663.9M |
| Q4 25 | $357.2M | $932.1M | ||
| Q3 25 | $338.9M | $830.5M | ||
| Q2 25 | $329.7M | $883.8M | ||
| Q1 25 | $333.4M | $907.5M | ||
| Q4 24 | $346.8M | $944.1M | ||
| Q3 24 | $282.7M | $948.9M | ||
| Q2 24 | $285.1M | $916.8M | ||
| Q1 24 | $301.8M | $923.2M |
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | 0.00× | 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 | $-162.0K | $-22.9M |
| Free Cash FlowOCF − Capex | $-2.0M | $-23.9M |
| FCF MarginFCF / Revenue | -3.1% | -43.4% |
| Capex IntensityCapex / Revenue | 2.8% | 1.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | $-143.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-162.0K | $-22.9M | ||
| Q3 25 | $-11.3M | $-26.8M | ||
| Q2 25 | $-18.8M | $-29.9M | ||
| Q1 25 | $-20.7M | $-45.7M | ||
| Q4 24 | $-20.7M | $5.8M | ||
| Q3 24 | $-12.5M | $-63.4M | ||
| Q2 24 | $-14.2M | $-37.1M | ||
| Q1 24 | $-11.2M | $-58.3M |
| Q4 25 | $-2.0M | $-23.9M | ||
| Q3 25 | $-13.1M | $-32.1M | ||
| Q2 25 | $-20.4M | $-35.2M | ||
| Q1 25 | $-21.5M | $-52.8M | ||
| Q4 24 | $-21.3M | $-4.7M | ||
| Q3 24 | $-13.9M | $-76.8M | ||
| Q2 24 | $-15.0M | $-50.3M | ||
| Q1 24 | $-14.5M | $-68.8M |
| Q4 25 | -3.1% | -43.4% | ||
| Q3 25 | -24.4% | -68.6% | ||
| Q2 25 | -39.7% | -94.0% | ||
| Q1 25 | -51.9% | -277.8% | ||
| Q4 24 | -47.8% | -9.5% | ||
| Q3 24 | -34.6% | -324.0% | ||
| Q2 24 | -33.9% | -224.5% | ||
| Q1 24 | -38.9% | -412.4% |
| Q4 25 | 2.8% | 1.8% | ||
| Q3 25 | 3.4% | 11.2% | ||
| Q2 25 | 3.2% | 14.1% | ||
| Q1 25 | 1.8% | 37.2% | ||
| Q4 24 | 1.2% | 21.4% | ||
| Q3 24 | 3.7% | 56.6% | ||
| Q2 24 | 1.8% | 58.9% | ||
| Q1 24 | 8.9% | 63.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESTA
Segment breakdown not available.
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
