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Side-by-side financial comparison of FUELCELL ENERGY INC (FCEL) and GERON CORP (GERN). Click either name above to swap in a different company.
FUELCELL ENERGY INC is the larger business by last-quarter revenue ($55.0M vs $47.2M, roughly 1.2× GERON CORP). GERON CORP runs the higher net margin — -39.0% vs -54.3%, a 15.3% gap on every dollar of revenue. On growth, GERON CORP posted the faster year-over-year revenue change (67.1% vs 11.5%). Over the past eight quarters, GERON CORP's revenue compounded faster (1597.0% CAGR vs 81.6%).
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.
Geron Corporation is a biotechnology company located in Foster City, California which specializes in developing and commercializing therapeutic products for cancer that inhibit telomerase.
FCEL vs GERN — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.0M | $47.2M |
| Net Profit | $-29.9M | $-18.4M |
| Gross Margin | -12.1% | — |
| Operating Margin | -51.5% | -29.4% |
| Net Margin | -54.3% | -39.0% |
| Revenue YoY | 11.5% | 67.1% |
| Net Profit YoY | 27.9% | 30.3% |
| EPS (diluted) | $-0.43 | $-0.03 |
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 | $55.0M | — | ||
| Q3 25 | $46.7M | $47.2M | ||
| Q2 25 | $37.4M | $49.0M | ||
| Q1 25 | $19.0M | $39.6M | ||
| Q4 24 | $49.3M | — | ||
| Q3 24 | $23.7M | $28.3M | ||
| Q2 24 | $22.4M | $882.0K | ||
| Q1 24 | $16.7M | $304.0K |
| Q4 25 | $-29.9M | — | ||
| Q3 25 | $-91.7M | $-18.4M | ||
| Q2 25 | $-38.0M | $-16.4M | ||
| Q1 25 | $-28.3M | $-19.8M | ||
| Q4 24 | $-41.4M | — | ||
| Q3 24 | $-32.7M | $-26.4M | ||
| Q2 24 | $-32.1M | $-67.4M | ||
| Q1 24 | $-19.8M | $-55.4M |
| 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 | -51.5% | — | ||
| Q3 25 | -204.0% | -29.4% | ||
| Q2 25 | -95.7% | -25.4% | ||
| Q1 25 | -172.9% | -42.2% | ||
| Q4 24 | -83.2% | — | ||
| Q3 24 | -141.9% | -99.8% | ||
| Q2 24 | -184.5% | -7860.9% | ||
| Q1 24 | -254.5% | -18465.1% |
| Q4 25 | -54.3% | — | ||
| Q3 25 | -196.1% | -39.0% | ||
| Q2 25 | -101.7% | -33.4% | ||
| Q1 25 | -149.1% | -50.1% | ||
| Q4 24 | -84.0% | — | ||
| Q3 24 | -137.8% | -93.5% | ||
| Q2 24 | -143.4% | -7639.8% | ||
| Q1 24 | -118.6% | -18220.4% |
| Q4 25 | $-0.43 | — | ||
| Q3 25 | $-3.78 | $-0.03 | ||
| Q2 25 | $-1.79 | $-0.02 | ||
| Q1 25 | $-1.42 | $-0.03 | ||
| Q4 24 | $-2.29 | — | ||
| Q3 24 | $-1.99 | $-0.04 | ||
| Q2 24 | $-2.18 | $-0.10 | ||
| Q1 24 | $-1.37 | $-0.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $278.1M | $78.1M |
| Total DebtLower is stronger | $103.8M | — |
| Stockholders' EquityBook value | $662.2M | $248.7M |
| Total Assets | $932.1M | $567.4M |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $278.1M | — | ||
| Q3 25 | $174.7M | $78.1M | ||
| Q2 25 | $177.0M | $77.7M | ||
| Q1 25 | $208.4M | $83.7M | ||
| Q4 24 | $257.3M | — | ||
| Q3 24 | $267.2M | $60.3M | ||
| Q2 24 | $260.1M | $116.9M | ||
| Q1 24 | $297.5M | $189.8M |
| 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 | $662.2M | — | ||
| Q3 25 | $556.2M | $248.7M | ||
| Q2 25 | $609.2M | $259.5M | ||
| Q1 25 | $635.2M | $268.2M | ||
| Q4 24 | $656.9M | — | ||
| Q3 24 | $675.8M | $292.3M | ||
| Q2 24 | $639.8M | $306.7M | ||
| Q1 24 | $663.9M | $344.9M |
| Q4 25 | $932.1M | — | ||
| Q3 25 | $830.5M | $567.4M | ||
| Q2 25 | $883.8M | $555.2M | ||
| Q1 25 | $907.5M | $562.5M | ||
| Q4 24 | $944.1M | — | ||
| Q3 24 | $948.9M | $444.9M | ||
| Q2 24 | $916.8M | $449.4M | ||
| Q1 24 | $923.2M | $482.1M |
| 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 | $-22.9M | $-13.6M |
| Free Cash FlowOCF − Capex | $-23.9M | — |
| FCF MarginFCF / Revenue | -43.4% | — |
| Capex IntensityCapex / Revenue | 1.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-143.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.9M | — | ||
| Q3 25 | $-26.8M | $-13.6M | ||
| Q2 25 | $-29.9M | $-27.4M | ||
| Q1 25 | $-45.7M | $-48.0M | ||
| Q4 24 | $5.8M | — | ||
| Q3 24 | $-63.4M | $-58.9M | ||
| Q2 24 | $-37.1M | $-53.5M | ||
| Q1 24 | $-58.3M | $-62.3M |
| Q4 25 | $-23.9M | — | ||
| Q3 25 | $-32.1M | — | ||
| Q2 25 | $-35.2M | — | ||
| Q1 25 | $-52.8M | — | ||
| Q4 24 | $-4.7M | — | ||
| Q3 24 | $-76.8M | — | ||
| Q2 24 | $-50.3M | $-53.7M | ||
| Q1 24 | $-68.8M | $-62.9M |
| Q4 25 | -43.4% | — | ||
| Q3 25 | -68.6% | — | ||
| Q2 25 | -94.0% | — | ||
| Q1 25 | -277.8% | — | ||
| Q4 24 | -9.5% | — | ||
| Q3 24 | -324.0% | — | ||
| Q2 24 | -224.5% | -6086.6% | ||
| Q1 24 | -412.4% | -20680.3% |
| Q4 25 | 1.8% | — | ||
| Q3 25 | 11.2% | — | ||
| Q2 25 | 14.1% | — | ||
| Q1 25 | 37.2% | — | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 56.6% | 0.0% | ||
| Q2 24 | 58.9% | 23.4% | ||
| Q1 24 | 63.3% | 202.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
GERN
Segment breakdown not available.
