The financials
FuelCell Energy, Inc. by the numbers
FuelCell Energy, Inc. (FCEL) reported revenue of $36M in Q2 2026 (quarter ended April 30, 2026), down 4.9% from the same quarter a year earlier. That came with a gross margin of −36% and net loss of $78M. For the full year FY2025, revenue was $158M (+41% year on year) and net income −$188M. Its largest product in 2026-Q2 was Electricity Generation at $8.7M, 49% of the disclosed total, just ahead of Advanced Technologies at 27%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $36M | $37M | −4.9% |
| Gross profit | −$13M | −$9.4M | n/a |
| Operating income | −$78M | −$36M | n/a |
| Net income | −$78M | −$38M | n/a |
| Diluted EPS | −$1.45 | −$1.79 | n/a |
| Product | Revenue | Share |
|---|---|---|
| Electricity Generation | $8.7M | 49% |
| Advanced Technologies | $4.7M | 27% |
| Service | $4.2M | 24% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $17.6M (-5.0%)
Advanced Technologies grew +15% year on yearService -49% year on year
Segment Latestquarter on quarteryear on year
- Electricity Generation$8.7M$8.7MQoQ -21%year on year -28%-21%-28%
- Advanced Technologies$4.7M$4.7MQoQ +9.3%year on year +15%+9.3%+15%
- Service$4.2M$4.2MQoQ +31%year on year -49%+31%-49%
Electrical Equipment & Parts
Ranks #11 of 20 by Smart Score