| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 35.59 | 16.6% | 4.9% |
| Total Income | 35.59 | 16.6% | 4.9% |
| Expenditure | 113.50 | 99.8% | 55.0% |
| PBT | -77.68 | 198.2% | 106.2% |
| Net Profit | -77.91 | 240.8% | 104.8% |
| OPM | — | ||
| NPM | — | ||
| EPS | -1.45 | 195.9% | 19.0% |
FuelCell Energy Reports Q2 2026 Results; Advances Data Center Power Strategy
08 Jun 2026 · 8 Jun, 5:11 pm
Summary
FuelCell Energy reported financial results for its second fiscal quarter ended April 30, 2026, with revenue of $35.6 million, a 5% decrease year-over-year. The company experienced a gross loss of $(12.9) million and a loss from operations of $(77.9) million, both representing significant increases compared to the prior year. Despite these financial challenges, management highlighted strong commercial momentum and disciplined operational execution, particularly advancing its data center strategy with the introduction of a standardized 12.5 MW FuelCell Energy Block. The company also noted progress on expanding its Torrington manufacturing facility to 500 MW capacity and maintained a substantial backlog of $1.14 billion.
Key Highlights
- 1
FuelCell Energy reported a backlog of $1.14 billion as of April 30, 2026, a decrease of approximately 9.9% compared to the prior year.
- 2
The sales pipeline in Q2 2026 totals 4 gigawatts, representing a significant 267% increase from Q1 2026.
- 3
Revenue for the second fiscal quarter of 2026 was $35.6 million, a decrease of approximately 5% compared to the prior year quarter.
- 4
The company reported a gross loss of $(12.9) million for Q2 2026, an increase of approximately 37% from the prior year.
- 5
Loss from operations in Q2 2026 was $(77.9) million, an increase of approximately 118% compared to the same period last year.
- 6
Net loss per share attributable to common stockholders was $(1.45) for Q2 2026, an improvement from $(1.79) in the prior year, primarily due to a higher number of weighted average shares outstanding.
- 7
The company has begun work on expanding its Torrington, CT manufacturing facility to support an annualized production rate of up to 500 MW, with an estimated total project cost ranging from $200 to $275 million.
Management Comments
Jason Few
This past quarter reflected strong commercial momentum and disciplined operational execution across the business, including continued progress on our data center strategy. Our carbonate fuel cell platform was designed from inception as a megawatt-scale distributed generation solution and has been proven through more than two decades of commercial operations. Unlike architectures that aggregate numerous sub-scale units to achieve meaningful output, FuelCell Energy deploys utility-scale energy blocks capable of bringing resilient, continuous power directly to the customer. In effect, we are focused on extending the grid to the data center, enabling customers to accelerate time-to-power, reducing dependence on constrained transmission infrastructure, removing permitting friction, and supporting the growing energy demands of AI-driven compute environments with proven, scalable technology. This past quarter also reflected progress toward expanding the capacity of our Torrington manufacturing facility to support an annualized production rate of up to 500 MW. We believe our balance sheet, including approximately $441 million in total cash and cash equivalents as of April 30, 2026, positions us well to execute on the pipeline opportunities, scale responsibly, and create long-term value for our shareholders and stakeholders.
Informational and educational content only. Not investment advice.