| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 33.00 | 7.3% | 29.4% |
| Total Income | 33.00 | 7.3% | 29.4% |
| Expenditure | 79.66 | 29.8% | 43.9% |
| PBT | -45.28 | 41.7% | 50.7% |
| Net Profit | -44.47 | 42.9% | 51.5% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.64 | 55.9% | 83.1% |
FuelCell Energy Reports Q3 FY26 Results, Secures Data Center Power Agreement
02 Sept 2026 · 2 Sept, 5:14 pm
Summary
FuelCell Energy reported third fiscal quarter 2026 results, with revenue decreasing 29% year-over-year to $33.0 million, and a gross loss of $(24.5) million. Despite the revenue decline, the loss from operations decreased significantly by 51% to $(46.7) million, and net loss per share improved to $(0.64). The company highlighted significant commercial progress, including executing its first data center power agreement and delivering carbon capture modules. Management expressed optimism about long-term growth driven by AI and data center demand, with plans to expand manufacturing capacity.
Key Highlights
- 1
FuelCell Energy reported a committed backlog of $1.3 billion as of July 31, 2026, an increase of approximately 4.1% year-over-year.
- 2
The company signed its first Capacity Reservation Agreement with a major data center operator for a planned 75 MW project in Texas, supported by an upfront reservation payment.
- 3
Revenue for the third fiscal quarter of 2026 was $33.0 million, a decrease of approximately 29% compared to the prior year quarter.
- 4
Gross loss increased to $(24.5) million from $(5.1) million in the prior year quarter, an increase of approximately 377%.
- 5
Loss from operations decreased by approximately 51% to $(46.7) million, compared with $(95.4) million in the prior year quarter.
- 6
Net loss per share attributable to common stockholders improved to $(0.64) from $(3.78) in the prior year quarter.
- 7
The company delivered the first two carbon capture modules to ExxonMobil Technology and Engineering Company in Rotterdam, The Netherlands.
Management Comments
Jason Few
During the third quarter, FuelCell Energy accelerated the commercial execution of our data center strategy while continuing to expand the manufacturing capacity we believe is required to support long-term growth. Our capital equipment purchase agreement with Fit Energy for a total aggregate generation capacity of up to 380 MW across four potential phases, intended to supply baseload power for data center applications, represents an important commercial milestone and validates FuelCell Energy’s ability to help meet the growing demand for utility-scale, behind-the-meter power solutions that accelerate time-to-power. The expansion of our Committed and Awarded Capacity Backlog to $3.6 billion reflects increasing customer demand for reliable, scalable infrastructure that reduces dependence on constrained transmission systems, simplifies permitting, and enables AI driven compute to be deployed faster. Along with the increasing interest in FuelCell Energy’s power solutions, we are investing with discipline to scale our manufacturing capabilities. The expansion of our Torrington facility to accommodate an annualized production rate of 500 MW is underway and will strengthen our ability to convert commercial momentum into revenue while supporting growth. Demand for electricity is accelerating, driven by AI, data centers, and the broader electrification of the economy. With a growing commercial pipeline, expanding manufacturing capacity, and differentiated technology, we believe FuelCell Energy is well positioned to capitalize on these long-term market tailwinds.
Informational and educational content only. Not investment advice.