Fuelcell Energy ( (FCEL) ) has released its Q2 earnings. Here is a breakdown of the information Fuelcell Energy presented to its investors.
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FuelCell Energy, Inc. is a global leader in delivering environmentally responsible distributed baseload energy platform solutions through its proprietary fuel cell technology, focusing on advancing sustainable clean energy technologies for industrial and commercial businesses, utilities, governments, municipalities, and communities.
In its second quarter of fiscal 2025, FuelCell Energy reported a significant increase in revenue, reaching $37.4 million, a 67% rise compared to the previous year. Despite this growth, the company faced a gross loss of $9.4 million, which increased by 33% year-over-year. The company also announced a restructuring plan aimed at reducing operating expenses by 30% and focusing on its carbonate-based distributed generation.
Key financial highlights include a decrease in the loss from operations by 13% to $35.8 million and a reduction in net loss per share by 18% to $1.79. The company’s backlog increased by 19% to $1.26 billion, reflecting strong future commitments. FuelCell Energy is also refocusing its efforts on electrolysis validation and demonstration while pausing R&D activities.
The company is undergoing a global restructuring to concentrate on scaling its core carbonate technologies and achieving profitability. This involves a workforce reduction of approximately 22% and a significant cut in discretionary spending. FuelCell Energy is also enhancing its leadership team with the addition of Mike Hill as Chief Commercial Officer, aiming to strengthen its position in the data center market.
Looking ahead, FuelCell Energy is committed to maintaining a strong balance sheet and accelerating its trajectory toward sustained, positive adjusted EBITDA. The company is actively pursuing strategic financing to support its commercial execution and remains focused on driving financial performance while enabling long-term, scalable growth.