Revenue Growth
Total revenues increased by 41% year-over-year, from $112.1 million in fiscal year 2024 to $158.2 million in fiscal year 2025, driven largely by module deliveries to Goji Green Energy Company Limited.
Cost Reduction and Restructuring Success
The company's restructuring efforts led to a decrease in operating expenses to $21.7 million from $30.1 million in 2024, and a reduction in adjusted EBITDA loss by over $25 million year-over-year.
Strong Position in South Korea
FuelCell Energy has more than 100 megawatts of power projects in South Korea in its backlog, with another 100 megawatts under MOU, supported by $25 million in new Ex I'm financing.
Manufacturing Capacity Expansion
Plans to scale manufacturing capacity to 350 megawatts per year with modest capital investment, projecting positive adjusted EBITDA once reaching 100 megawatts per year.