FuelCell Energy (NASDAQ: FCEL) soared over 30% on Dec. 18 after the Danbury-headquartered firm posted better-than-expected financials for its fourth quarter. In Q4, the company's backlog also grew to ... ...

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Key Takeaways Renewables are projected to overtake coal by 2026, reaching 36% of global electricity generation.Per EIA, U.S. renewable power share is expected to rise from 22% in 2024 to 25% by 2026, led by solar growth.Massive investments in solar, wind and battery storage are driving capacity additions through 2030.In 2025, U.S. renewables accounted for the majority of capacity growth, driven mainly by strong additions in solar and wind capacity and unprecedented levels of public and private investment. A ...

FuelCell Energy (FCEL) topped fourth-quarter revenue estimates and said it's making AI data centers the focus of its growth strategy. FCEL stock surged higher in Thursday stock market action as investors buy into its turnaround story. "We've simplified our product line, advanced efficiency, and integrated absorption chilling to help manage thermal loads — critical for high-compute environments," Jason Few, president of… ...

Jason Few: Thank you, Mike, and good morning, everyone. Thank you for joining us on our call today. Our fourth fiscal quarter closed a year of meaningful progress for FuelCell Energy. Starting around twelve months ago, we began a series of thoughtful restructuring measures to sharpen our focus and strengthen the fundamentals of our business. Through this series of tough decisions to streamline and focus our organization, today, we are operating with greater discipline, lower cost, and strategic clarity. We ...

Key Points FuelCell Energy reported fourth-quarter 2025 financial results. The company beat analysts' sales expectations and grew its backlog. Despite the progress, the company reported a steeper EBITDA loss in 2025 than it did in 2024. 10 stocks we like better than FuelCell Energy › After dropping 6.7% during yesterday's trading session, shares of FuelCell Energy (NASDAQ: FCEL) are more than recovering today. The fuel cell specialist reported its fourth-quarter 2025 financial results this mornin ...

Financial Data and Key Metrics Changes - In Q4 FY2025, total revenues increased to $55 million from $49.3 million in the prior year, representing a 12% increase [17] - The net loss attributable to common stockholders decreased to $30.7 million from $42.2 million in Q4 FY2024, resulting in a net loss per share of $0.85 compared to $2.21 [18][19] - For FY2025, total revenues were $158.2 million, up from $112.1 million in FY2024, marking a 41% increase [20] - The net loss attributable to common stockholders for FY2025 was $191.1 million, compared to $129.2 million in FY2024, with a net loss per share of $7.42 compared to $7.83 [21][22] - Adjusted EBITDA improved to -$74.4 million in FY2025 from -$101.1 million in FY2024, reflecting a 26% reduction [22] Business Line Data and Key Metrics Changes - Product revenues rose to $30 million from $25.4 million, primarily due to long-term service agreements with GGE [23] - Service agreement revenues increased to $7.3 million from $5.6 million, driven by the same long-term service agreement [23] - Generation revenues slightly increased to $12.2 million from $12 million, reflecting higher output from the generation operating portfolio [23] - Advanced technology contract revenues decreased to $5.5 million from $6.4 million [23] Market Data and Key Metrics Changes - The backlog increased by approximately 2.6% to $1.19 billion compared to $1.16 billion as of October 31, 2024, due to new projects and service agreements [26] - The company has established itself as a leading partner in South Korea's fuel cell energy market, with over 100 MW of power projects in backlog and another 100 MW under MOU [13] Company Strategy and Development Direction - The company is focused on scaling manufacturing capacity and aims to achieve an annualized production rate of 100 MW per year to reach positive Adjusted EBITDA [8][15] - The strategy emphasizes the data center market, driven by AI and digital infrastructure demands, with a commitment to providing clean, reliable power [6][10] - The company is building financing capacity, exemplified by a $25 million financing from Exxon for a project in Korea, which is seen as a model for future projects [9] - The company is positioned to win in emerging power markets, supported by favorable policies and its carbonate platform technology [9][10] Management's Comments on Operating Environment and Future Outlook - Management believes the demand for power is accelerating due to the growth of AI and data centers, presenting significant business opportunities [6][10] - The company is optimistic about converting its pipeline into executed contracts and backlog into revenue, emphasizing the importance of execution in FY2026 [10][28] - Management highlighted the challenges customers face, such as utility interconnections and procurement delays, which the company's technology can address effectively [11][12] Other Important Information - The company ended FY2025 with cash, restricted cash, and cash equivalents of $341.8 million, indicating a strong liquidity position [26][27] - The company plans to invest between $20 million and $30 million in capital expenditures in FY2026 to support expansion efforts [71] Q&A Session Summary Question: What is the growth outlook for 2026? - Management indicated that there are hundreds of megawatts of pricing proposals across the digital infrastructure ecosystem, suggesting opportunities will present in 2026 [30] Question: How long will it take to scale capacity to 350 MW? - Management expects that scaling to 350 MW can happen in a timeframe of less than 18 months with modest capital investment [33] Question: What is the status of data center traction and potential bottlenecks? - Management reported strong interest in their distributed generation platform and modularity, with no significant constraints in delivering power [40] Question: What are the changes in the South Korean market? - Management noted strong momentum in repowering existing installations and ongoing partnerships, indicating a positive outlook for the South Korean market [48] Question: What are the carbon capture opportunities being pursued? - Management discussed ongoing work with Exxon for carbon capture at a refinery in Rotterdam and the potential for commercial opportunities post-demonstration [44][50] Question: What are the main hurdles for securing data center customers? - Management clarified that the main issue is a shift in how data center customers procure power, not a readiness issue [56] Question: How are NIMBY issues affecting customer discussions? - Management emphasized that their technology addresses NIMBY concerns effectively, allowing for deployments close to communities without complaints [82]

Financial Data and Key Metrics Changes - In Q4 FY2025, total revenues increased to $55 million from $49.3 million in the prior year, representing a 12% increase [18] - The net loss attributable to common stockholders decreased to $30.7 million from $42.2 million in Q4 FY2024, resulting in a net loss per share of $0.85 compared to $2.21 [20][21] - For FY2025, total revenues were $158.2 million, up from $112.1 million in FY2024, a 41% increase [21] - The net loss attributable to common stockholders for FY2025 was $191.1 million compared to $129.2 million in FY2024, with a net loss per share of $7.42 compared to $7.83 [22][23] - Adjusted EBITDA improved to negative $74.4 million in FY2025 from negative $101.1 million in FY2024, reflecting a 26% reduction [23] Business Line Data and Key Metrics Changes - Product revenues in Q4 FY2025 were $30 million, up from $25.4 million in the prior year, driven by long-term service agreements [24] - Service agreement revenues increased to $7.3 million from $5.6 million, primarily due to the GGE agreement [24] - Generation revenues slightly increased to $12.2 million from $12 million, reflecting higher output from the generation portfolio [24] - Advanced technology contract revenues decreased to $5.5 million from $6.4 million [24] Market Data and Key Metrics Changes - The backlog increased by approximately 2.6% to $1.19 billion compared to $1.16 billion as of October 31, 2024, due to new projects and service agreements [27] - The company has over 100 megawatts of power projects in South Korea in its backlog, with another 100 megawatts under MOU [14] Company Strategy and Development Direction - The company is focused on scaling manufacturing capacity and aims to achieve positive Adjusted EBITDA at an annualized production rate of 100 megawatts per year [8][16] - The strategy includes leveraging partnerships, such as the $25 million financing from Exxon for projects in Korea, to support growth [9][28] - The company is committed to addressing the growing demand for clean, reliable power driven by data centers and digital infrastructure [6][10] Management's Comments on Operating Environment and Future Outlook - Management believes the demand for power is accelerating due to the growth of AI and data centers, presenting significant business opportunities [5][6] - The company is optimistic about entering FY2026 with strong momentum, focusing on converting its pipeline into executed contracts [10][18] - Management highlighted the importance of policy certainty and the investment tax credit in improving project economics and supporting long-term adoption [9][68] Other Important Information - The company ended FY2025 with cash, restricted cash, and cash equivalents of $341.8 million, providing a strong liquidity position [28] - The company plans to spend between $20 million and $30 million on capital expenditures in FY2026 to support expansion efforts [73] Q&A Session Summary Question: What is the growth outlook for 2026? - Management indicated that there are hundreds of megawatts of pricing proposals across the digital infrastructure ecosystem, with opportunities expected to materialize in 2026 [31] Question: How long will it take to scale capacity to 350 megawatts? - Management expects that scaling to 350 megawatts can happen in a timeframe of less than 18 months with modest capital investment [34] Question: What is the status of data center traction and potential bottlenecks? - Management reported strong interest in their distributed generation platform and modularity, with no significant constraints in delivering power solutions [40] Question: What is the update on ExxonMobil and carbon capture opportunities? - Management confirmed that they are set to demonstrate technology for capturing CO2 while producing power and hydrogen at Exxon's Rotterdam refinery in late 2026 [45] Question: What changes have been observed in the South Korean market? - Management noted strong momentum in repowering existing installations and ongoing partnerships, indicating a positive outlook for the South Korean market [49] Question: Are there any carbon capture opportunities with other players? - Management is engaged in discussions for carbon recovery with various industrial customers, emphasizing the low emission profile of their technology [51][52] Question: What are the main hurdles for securing data center customers? - Management clarified that the main challenge is the shift in procurement models rather than customer readiness, as data centers increasingly require on-site generation [57]

Financial Data and Key Metrics Changes - In Q4 fiscal year 2025, total revenues increased to $55 million from $49.3 million in the prior year, representing a 12% increase [17] - The net loss attributable to common stockholders decreased to $30.7 million from $42.2 million in Q4 fiscal year 2024, resulting in a net loss per share of $0.85 compared to $2.21 [18] - For the full fiscal year 2025, total revenues were $158.2 million, up from $112.1 million in the previous year, marking a 41% increase [19] - The net loss attributable to common stockholders for the year was $191.1 million, compared to $129.2 million in fiscal year 2024, with a net loss per share of $7.42 compared to $7.83 [21] Business Line Data and Key Metrics Changes - Product revenues in Q4 fiscal year 2025 were $30 million, up from $25.4 million, primarily driven by long-term service agreements with GGE [23] - Service agreement revenues increased to $7.3 million from $5.6 million, reflecting revenue recognized under the service agreement with GGE [23] - Generation revenues slightly increased to $12.2 million from $12 million, due to higher output from the generation operating portfolio [23] - Advanced technology contract revenues decreased to $5.5 million from $6.4 million [23] Market Data and Key Metrics Changes - The backlog increased by approximately 2.6% to $1.19 billion compared to $1.16 billion as of October 31, 2024, driven by new projects and service agreements [26] - The company has established itself as a leading partner in South Korea's fuel cell energy market, with over 100 megawatts of power projects in backlog and another 100 megawatts under MOU [14] Company Strategy and Development Direction - The company is focused on scaling manufacturing capacity at its Torrington facility to achieve profitability, targeting an annualized production rate of 100 megawatts [9] - The strategy emphasizes the data center market, driven by AI and digital infrastructure demands, with a commitment to providing reliable, clean power solutions [8] - The company aims to leverage financing partnerships, such as the $25 million financing from Exxon, to support growth and project development [10] Management's Comments on Operating Environment and Future Outlook - Management believes the demand for power is accelerating due to the growth of AI and data centers, presenting significant business opportunities [6] - The company is optimistic about entering fiscal year 2026 with strong momentum, driven by commercial opportunities and policy clarity [11] - Management highlighted the importance of converting the pipeline into executed contracts and backlog into revenue as key to success in fiscal year 2026 [11] Other Important Information - The company reported a gross loss of $6.6 million in Q4 fiscal year 2025, down from $10.9 million in the prior year [24] - Operating expenses decreased to $21.7 million from $30.1 million, primarily due to reduced research and development expenses [25] - The company ended the fiscal year with cash, restricted cash, and cash equivalents of $341.8 million [26] Q&A Session Summary Question: What is the growth outlook for 2026? - Management indicated that there are hundreds of megawatts of pricing proposals across the digital infrastructure ecosystem, with expectations for opportunities to materialize in 2026 [30] Question: How long will it take to scale capacity to 350 megawatts? - Management stated that scaling to 350 megawatts could be achieved in less than 18 months with modest capital investment [31] Question: What is the status of data center traction and potential bottlenecks? - Management reported strong interest in their distributed generation platform and modularity, with no significant constraints in delivering power solutions [33] Question: What are the changes seen in the South Korean market? - Management noted strong momentum in repowering existing installations and ongoing partnerships, with expectations for continued growth in the Korean market [37] Question: What are the carbon capture opportunities being pursued? - Management highlighted ongoing work with ExxonMobil for carbon capture technology and discussions with data center customers for carbon recovery solutions [39][40]

U.S. stocks were higher, with the Dow Jones index gaining more than 300 points on Thursday.Shares of FuelCell Energy Inc (NASDAQ:FCEL) rose sharply during Thursday's session after the company reported better-than-expected quarterly financial results.Revenue rose 12% year over year to $55.0 million, while net loss per share narrowed to 85 cents from $2.21. Adjusted net loss per share improved to 83 cents from $1.85. FuelCell Energy's adjusted EPS loss of 83 cents beat an estimate for a loss of $1.04, and sal ...