FuelCell Energy, Inc. (NASDAQ: FCEL) Q2 2025 Earnings Call | 6/6/2025

About this video

FuelCell Energy, Inc. (NASDAQ: FCEL) reported Q2 2025 results on June 6, 2025, delivering revenue of $37.4 million—up 66.8% year-over-year and well above analyst expectations. The company’s strong topline was driven by growth in generation and advanced technology contract revenues. Despite this, FuelCell posted a net loss of $38.8 million, or $1.79 per share, which was wider than expected but improved from last year’s $44.4 million loss. Adjusted EBITDA loss improved to –$19.3 million, compared to –$26.5 million a year ago, reflecting ongoing cost controls and restructuring. Gross margin remained negative, with a gross loss of $9.4 million, up from $7.1 million last year, as higher costs and continued investment weighed on profitability. Operating expenses decreased to $27.6 million, down from $30.8 million, as management’s cost-saving initiatives began to take effect. The company ended the quarter with $240 million in cash and cash equivalents, maintaining strong liquidity and a current ratio of 6.34. Backlog increased 18.7% to $1.26 billion, providing solid revenue visibility. Strategically, FuelCell Energy is restructuring to cut annualized expenses by 30% and sharpen its focus on molten carbonate technology, distributed power generation, and partnerships—such as its new data center power initiative with Diversified Energy and TESIAC. The company also continues to advance carbon capture technology with ExxonMobil and expand into large-scale electrolysis and e-fuels in Asia-Pacific. Looking ahead, management expects Q2 to mark the low point for quarterly revenue in fiscal 2025, with production and module shipments set to increase. Analysts forecast 38% revenue growth over the next 12 months, and FuelCell is targeting positive adjusted EBITDA at 100 MW production capacity. CEO Jason Few emphasized, “Our cost-saving initiatives are already yielding positive outcomes, and our commitment to uncovering and capitalizing on growth opportunities is paying off… We see significant opportunity to boost both product and generation revenue, while maintaining cost controls and a steadfast commitment to operational excellence”. About Inside Ticker: For more expert analysis and real-time updates on FuelCell Energy, Inc. (NASDAQ: FCEL) and other market movers, follow Inside Ticker and visit InsideTicker.com for in-depth reports, financial insights, and the latest news on leading companies. #FuelCell #FCEL #EarningsCall #Q22025 #CleanEnergy #Restructuring #DataCenters #StockMarket #Investing #InsideTicker