FuelCell Energy reported strong Q1 FY2026 revenue growth driven by product and service agreements, while also advancing its data center power strategy. The company is focusing on converting its pipeline of opportunities, particularly in the data center and AI sectors, leveraging its proven track record in delivering clean, dependable energy.
Revenue increased by 61% to $30.5 million compared to the prior year quarter.
positiveLoss from operations decreased by 20% to $(26.3) million compared to the prior year quarter.
positiveNet loss per share attributable to common stockholders improved to $(0.49) from $(1.42) in the prior year quarter.
positiveCash and cash equivalents, including restricted cash, increased to $379.6 million from $341.8 million in the prior quarter.
positiveThe company sold approximately $56.3 million of common stock under its Open Market Sale Agreement, strengthening its liquidity.
positiveGross loss increased by 13% to $(5.9) million, primarily due to increased gross loss from manufacturing variances and lower gross profit from Advanced Technologies contracts.
attentionBacklog decreased by approximately 10.8% to $1.17 billion from $1.31 billion in the prior year, mainly due to revenue recognized over the period.
attentionProduct revenues were lower than planned by $6.0 million due to the timing of commissioning for two delivered modules.
attentionGeneration revenues decreased slightly to $11.0 million from $11.3 million due to lower output from plants in the generation operating portfolio.
attentionAdvanced Technologies contract revenues decreased to $4.3 million from $5.7 million in the prior year quarter.
attentionAdjusted EBITDA was $(17.0) million, a decrease from $(21.1) million in the prior year quarter, indicating continued operational losses on a non-GAAP basis.
attentionMargin metrics will be available once backend extracts data from insights_json
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Product | N/A | — | — | — |
Service | N/A | — | — | — |
Generation | N/A | — | — | — |
Advanced Technologies | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Delivered strong revenue growth, sharpened operating discipline, and strengthened our liquidity position.
Positioning FuelCell Energy to capture the defining opportunity of the AI era.
Data center developers and hyperscalers are prioritizing reliable, immediate power solutions.
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