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FuelCell Energy FCEL US — Revenue

Other geography segments

KR
$13.83M+142%
CA
$115K+10.8%

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Other financials

Income statement

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Revenue$35.6M-4.9%
Gross profit-$12.9M-37.0%
Operating income-$77.9M-118%
Net income-$77.9M-105%
EPS (diluted)-$1.45+19.0%

Balance sheet

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Cash & equivalents$373.2M+222%
Total debt$30.2M+14.7%
Total equity$719.4M+18.1%
Total assets$1.0B+13.5%

Cash flow

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Operating cash flow-$27.3M+8.7%
CapEx$1.7M-67.7%
Free cash flow-$29.0M+17.5%

Valuation

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Market cap$1.63B+1,661%
Enterprise value$1.29B-2,549%
P/S9.7×+9.1×

Profitability

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Gross margin-18.2%-3.7pp
Operating margin-135.7%+39.6pp
Net margin-132.4%+37.4pp
FCF margin-71.3%-22.3pp

Returns & leverage

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Return on equity-33.5%+31.9pp
Debt / equity0.0×
Current ratio8.6×+3.0×

Where this comes from

Reported directly by FuelCell Energy in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: FuelCell Energy’s 10-Q, filed June 8, 2026.

Filed
Jun 8, 2026, 7:40 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001104659-26-071183
Line itemThree Months Ended April 30, 2026Three Months Ended April 30, 2025Six Months Ended April 30, 2026Six Months Ended April 30, 2025
United States$14,086$23,473$29,935$41,336
South Korea21,44013,83035,89814,728
Europe63103181224
Canada106115
Total$35,589$37,406$66,120$56,403

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is FuelCell Energy's US — revenue?
FuelCell Energy (FCEL) reported US — revenue of $14.09M in Q1 2026.
How has FuelCell Energy's US — revenue changed year-over-year?
FuelCell Energy's US — revenue decreased by 40.0% year-over-year, from $23.47M to $14.09M.
What is the long-term trend for FuelCell Energy's US — revenue?
Over 3 years (2021 to 2024), FuelCell Energy's US — revenue has grown at a 14.2% compound annual growth rate (CAGR), from $58.39M to $86.96M.
What does US — revenue mean?
This metric represents the total gross revenue generated from contracts with customers within the United States geographic segment, excluding any assessed taxes. It reflects the core commercial performance and market penetration of the company's fuel cell and electrolysis solutions in its primary domestic market. Tracking this figure helps investors assess the company's ability to scale its decarbonization and hydrogen production technologies within the U.S. regulatory and industrial landscape.

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