Backlog IncreaseBacklog increased to $1.2bn, representing a ~17% Q/Q increase, driven by a spike in product backlog from the LTSA with GGE.
PartnershipsThe expanded partnership with ExxonMobil provides opportunities to leverage technological advances for additional projects.
Revenue GrowthFuelCell reported F4Q24 results that came in above top-line expectations, with revenue of ~$49.3M, up ~108% sequentially from ~$23.7M in F3Q24, and up ~120% annually from ~$22.5M in F4Q23.