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FuelCell Energy FCEL Q3 2025 earnings

Reported September 9, 2025 · Before market open

Revenue$46.7MMiss by $672.3K
EPS-$0.95Beat by $0.64
Revenue estimate$47.4M
EPS estimate-$1.59

Next report

Sep 2, 2026 (In 5 days)
Revenue estimate$38.8M
EPS estimate-$0.41

Financials

Q3 2025

Income statement

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Revenue$46.7M+97.3%
Gross profit-$5.1M+17.2%
Operating income-$95.4M-184%
Net income-$91.7M-181%
EPS (diluted)-$3.78-89.9%

Balance sheet

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Cash & equivalents$174.7M+9.6%
Total debt$29.2M+34.6%
Total equity$556.2M-17.7%
Total assets$830.5M-12.5%

Cash flow

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Operating cash flow-$26.8M+57.7%
CapEx$5.2M-60.9%
Free cash flow-$32.1M+58.2%

Valuation & ratios

Valuation

as of 07/31/25
See full
Market cap$113.04M-55.1%
Enterprise value-$32.4M-128%
P/S0.7×-2.2×

Profitability

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Gross margin-20.1%-5.2pp
Operating margin-134.5%-27.3pp
Net margin-130.8%-3.8pp
FCF margin-81.8%-33.3pp

Returns & leverage

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Return on equity-32.4%+482pp
Debt / equity0.1×0.0×
Current ratio5.4×-1.5×

Segments

By product

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Electricity Generation$12.4M-7.8%
Advanced Technologies$5.3M-39.1%
Service$3.1M+122%

FAQ

When did FuelCell Energy report Q3 2025 earnings?
FuelCell Energy (FCEL) reported Q3 2025 earnings on September 9, 2025 before market open.
What were FuelCell Energy's Q3 2025 revenue and EPS?
FuelCell Energy reported revenue of $46.7M and eps of $-0.95 for Q3 2025.
Did FuelCell Energy beat estimates in Q3 2025?
Revenue missed the consensus estimate of $47.4M by $672.3K. EPS beat the consensus estimate of $-1.59 by $0.64.
How did FuelCell Energy's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 97.3% from $23.7M a year earlier and eps grew 54.8% from $-2.10.
Where can I find FuelCell Energy's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001558370-25-011950) and the 10-Q periodic report (0001558370-25-011952) directly on SEC EDGAR. The filing index links above go to sec.gov.