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Side-by-side financial comparison of FUELCELL ENERGY INC (FCEL) and Katapult Holdings, Inc. (KPLT). Click either name above to swap in a different company.
Katapult Holdings, Inc. is the larger business by last-quarter revenue ($73.9M vs $55.0M, roughly 1.3× FUELCELL ENERGY INC). Katapult Holdings, Inc. runs the higher net margin — 26.8% vs -54.3%, a 81.1% gap on every dollar of revenue. On growth, Katapult Holdings, Inc. posted the faster year-over-year revenue change (17.3% vs 11.5%). Katapult Holdings, Inc. produced more free cash flow last quarter ($-12.0M vs $-23.9M). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs 6.6%).
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.
Katapult Holdings, Inc. is a U.S.-based fintech company that provides accessible point-of-sale lease-to-purchase solutions for consumers with limited or no traditional credit history. It partners with a wide network of e-commerce platforms and brick-and-mortar retail merchants across segments including electronics, furniture and home goods to offer flexible payment plans for customers to obtain needed products.
FCEL vs KPLT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.0M | $73.9M |
| Net Profit | $-29.9M | $19.8M |
| Gross Margin | -12.1% | 15.6% |
| Operating Margin | -51.5% | -1.4% |
| Net Margin | -54.3% | 26.8% |
| Revenue YoY | 11.5% | 17.3% |
| Net Profit YoY | 27.9% | 307.3% |
| EPS (diluted) | $-0.43 | $3.69 |
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 | $73.9M | ||
| Q3 25 | $46.7M | $74.0M | ||
| Q2 25 | $37.4M | $71.9M | ||
| Q1 25 | $19.0M | $71.9M | ||
| Q4 24 | $49.3M | $63.0M | ||
| Q3 24 | $23.7M | $60.3M | ||
| Q2 24 | $22.4M | $58.9M | ||
| Q1 24 | $16.7M | $65.1M |
| Q4 25 | $-29.9M | $19.8M | ||
| Q3 25 | $-91.7M | $-4.9M | ||
| Q2 25 | $-38.0M | $-7.8M | ||
| Q1 25 | $-28.3M | $-5.7M | ||
| Q4 24 | $-41.4M | $-9.6M | ||
| Q3 24 | $-32.7M | $-8.9M | ||
| Q2 24 | $-32.1M | $-6.9M | ||
| Q1 24 | $-19.8M | $-570.0K |
| Q4 25 | -12.1% | 15.6% | ||
| Q3 25 | -11.0% | 19.7% | ||
| Q2 25 | -25.2% | 15.5% | ||
| Q1 25 | -27.4% | 19.9% | ||
| Q4 24 | -22.1% | 11.8% | ||
| Q3 24 | -26.2% | 19.8% | ||
| Q2 24 | -31.6% | 16.9% | ||
| Q1 24 | -70.2% | 25.3% |
| Q4 25 | -51.5% | -1.4% | ||
| Q3 25 | -204.0% | 3.3% | ||
| Q2 25 | -95.7% | -2.0% | ||
| Q1 25 | -172.9% | -0.7% | ||
| Q4 24 | -83.2% | -7.7% | ||
| Q3 24 | -141.9% | -7.4% | ||
| Q2 24 | -184.5% | -4.5% | ||
| Q1 24 | -254.5% | 5.8% |
| Q4 25 | -54.3% | 26.8% | ||
| Q3 25 | -196.1% | -6.7% | ||
| Q2 25 | -101.7% | -10.9% | ||
| Q1 25 | -149.1% | -7.9% | ||
| Q4 24 | -84.0% | -15.2% | ||
| Q3 24 | -137.8% | -14.7% | ||
| Q2 24 | -143.4% | -11.7% | ||
| Q1 24 | -118.6% | -0.9% |
| Q4 25 | $-0.43 | $3.69 | ||
| Q3 25 | $-3.78 | $-0.94 | ||
| Q2 25 | $-1.79 | $-1.63 | ||
| Q1 25 | $-1.42 | $-1.23 | ||
| Q4 24 | $-2.29 | $-2.17 | ||
| Q3 24 | $-1.99 | $-2.05 | ||
| Q2 24 | $-2.18 | $-1.61 | ||
| Q1 24 | $-1.37 | $-0.13 |
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 | $22.4M |
| Total DebtLower is stronger | $103.8M | — |
| Stockholders' EquityBook value | $662.2M | $-38.1M |
| Total Assets | $932.1M | $107.9M |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $278.1M | $22.4M | ||
| Q3 25 | $174.7M | $3.4M | ||
| Q2 25 | $177.0M | $3.7M | ||
| Q1 25 | $208.4M | $6.0M | ||
| Q4 24 | $257.3M | $3.5M | ||
| Q3 24 | $267.2M | $25.9M | ||
| Q2 24 | $260.1M | $33.7M | ||
| Q1 24 | $297.5M | $31.2M |
| 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 | $-38.1M | ||
| Q3 25 | $556.2M | $-58.4M | ||
| Q2 25 | $609.2M | $-54.1M | ||
| Q1 25 | $635.2M | $-51.7M | ||
| Q4 24 | $656.9M | $-46.8M | ||
| Q3 24 | $675.8M | $-40.3M | ||
| Q2 24 | $639.8M | $-32.9M | ||
| Q1 24 | $663.9M | $-27.5M |
| Q4 25 | $932.1M | $107.9M | ||
| Q3 25 | $830.5M | $85.9M | ||
| Q2 25 | $883.8M | $90.6M | ||
| Q1 25 | $907.5M | $88.5M | ||
| Q4 24 | $944.1M | $93.2M | ||
| Q3 24 | $948.9M | $92.0M | ||
| Q2 24 | $916.8M | $106.6M | ||
| Q1 24 | $923.2M | $106.6M |
| 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 | $-11.9M |
| Free Cash FlowOCF − Capex | $-23.9M | $-12.0M |
| FCF MarginFCF / Revenue | -43.4% | -16.2% |
| Capex IntensityCapex / Revenue | 1.8% | 0.0% |
| Cash ConversionOCF / Net Profit | — | -0.60× |
| TTM Free Cash FlowTrailing 4 quarters | $-143.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.9M | $-11.9M | ||
| Q3 25 | $-26.8M | $4.0M | ||
| Q2 25 | $-29.9M | $-6.6M | ||
| Q1 25 | $-45.7M | $3.4M | ||
| Q4 24 | $5.8M | $-32.6M | ||
| Q3 24 | $-63.4M | $-5.4M | ||
| Q2 24 | $-37.1M | $-628.0K | ||
| Q1 24 | $-58.3M | $2.0M |
| Q4 25 | $-23.9M | $-12.0M | ||
| Q3 25 | $-32.1M | $4.0M | ||
| Q2 25 | $-35.2M | — | ||
| Q1 25 | $-52.8M | $3.4M | ||
| Q4 24 | $-4.7M | $-32.6M | ||
| Q3 24 | $-76.8M | $-5.4M | ||
| Q2 24 | $-50.3M | $-653.0K | ||
| Q1 24 | $-68.8M | — |
| Q4 25 | -43.4% | -16.2% | ||
| Q3 25 | -68.6% | 5.4% | ||
| Q2 25 | -94.0% | — | ||
| Q1 25 | -277.8% | 4.7% | ||
| Q4 24 | -9.5% | -51.8% | ||
| Q3 24 | -324.0% | -9.0% | ||
| Q2 24 | -224.5% | -1.1% | ||
| Q1 24 | -412.4% | — |
| Q4 25 | 1.8% | 0.0% | ||
| Q3 25 | 11.2% | 0.0% | ||
| Q2 25 | 14.1% | 0.0% | ||
| Q1 25 | 37.2% | 0.0% | ||
| Q4 24 | 21.4% | 0.1% | ||
| Q3 24 | 56.6% | 0.0% | ||
| Q2 24 | 58.9% | 0.0% | ||
| Q1 24 | 63.3% | 0.0% |
| Q4 25 | — | -0.60× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
KPLT
Segment breakdown not available.
