FuelCell Energy, Inc. (FCEL) — Financial statements
Income statement, balance sheet, and cash flow for FuelCell Energy, Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 158↑41.0% | 112↓9.1% | 123↓5.4% | 130↑87.5% | 70 | |
| Cost of Revenue | 185↑24.7% | 148↑10.5% | 134↓16.3% | 160↑87.8% | 85 | |
| Gross Profit | -26↑26.5% | -36↓240.9% | -11↑64.4% | -30↓89.1% | -16 | |
| Operating Expenses | ||||||
| R&D Expenses | 34↓38.5% | 55↓9.2% | 61↑76.7% | 35↑205.2% | 11 | |
| General & Administrative Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 61↓6.0% | 65↑0.1% | 65↓19.0% | 80↑109.8% | 38 | |
| Other Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Operating Expenses | 95↓21.0% | 120↓4.4% | 126↑10.0% | 114↑131.7% | 49 | |
| Total Costs & Expenses | 279↑4.2% | 268↑3.3% | 259↓5.4% | 274↑103.9% | 134 | |
| Operating Results | ||||||
| Operating Income | -121↑22.3% | -156↓14.6% | -136↑5.3% | -144↓121.4% | -65 | |
| Depreciation & Amortization | 40↑11.6% | 36↑42.6% | 25↑19.3% | 21↑7.1% | 20 | |
| EBITDA | -140↓26.7% | -111↓48.1% | -75↑37.0% | -119↓60.9% | -74 | |
| EBIT | -181↓23.0% | -147↓46.7% | -100↑28.4% | -140↓49.5% | -94 | |
| Interest & Other Income | ||||||
| Net Interest Income | -2↓151.2% | 4↓52.9% | 9↑384.2% | -3↑59.0% | -7 | |
| Interest Income | 8↓39.4% | 14↓13.1% | 16↑366.5% | 3↑9858.8% | 0.03 | |
| Interest Expense | 10↑7.1% | 10↑33.7% | 7↑13.3% | 6↓13.2% | 7 | |
| Non-Operating Income | 60↑772.8% | -9↑75.3% | -36↓867.8% | -4↓112.9% | 29 | |
| Other Income / Expenses | -70↓8364.9% | -0.83↓102.9% | 29↑1163.9% | -3↑92.6% | -36 | |
| Income Before Tax | -191↓22.0% | -157↓45.9% | -107↑26.6% | -146↓44.9% | -101 | |
| Income Tax Expense | 0.14↑448.0% | 0.03↓95.7% | 0.58↓29.1% | 0.82↑40850.0% | 0.00 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | -191↓22.1% | -157↓45.1% | -108↑26.6% | -147↓45.7% | -101 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | -188↓49.1% | -126↓17.1% | -108↑24.6% | -143↓41.3% | -101 | |
| Bottom-Line Net Income | -191↓47.9% | -129↓16.6% | -111↑24.1% | -146↓40.0% | -104 | |
| EPS (Basic) | -7.42↓1300.0% | -0.53↓103.8% | -0.26↑33.3% | -0.39↓25.8% | -0.31 | |
| EPS (Diluted) | -7.42↓1414.3% | -0.49↓88.5% | -0.26↑31.6% | -0.38↓26.7% | -0.30 | |
| Weighted Average Shares | 26↓89.4% | 244↓40.3% | 408↑8.8% | 375↑15.5% | 324 | |
| Weighted Average Diluted Shares | 26↓90.2% | 262↓37.6% | 420↑9.6% | 383↑14.5% | 335 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.