FuelCell Energy FCEL Business Segments
| Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Product | ||||||
| Advanced Technologies | $4.72M+9.3% | $4.31M-21.9% | $5.52M+5.0% | $5.26M+27.9% | $4.11M-28.3% | |
| Electricity Generation | $8.68M-21.0% | $10.99M-9.8% | $12.19M-1.4% | $12.36M+1.9% | $12.12M+6.9% | |
| Service | $4.18M+30.9% | $3.19M-56.2% | $7.28M+132% | $3.13M-61.6% | $8.14M+341% | |
| Revenue Remaining Performance Obligation by Product | ||||||
| Advanced Technologies | $4.9M-3.9% | $5.1M-10.5% | $5.7M-19.7% | $7.1M-10.1% | $7.9M-16.0% | |
| Electricity Generation | $370.3M0.0% | $370.2M-0.8% | $373.2M-1.5% | $378.9M-1.1% | $383M-0.5% | |
| Service | $155.4M-2.5% | $159.4M-1.8% | $162.4M-4.1% | $169.4M+3.0% | $164.4M-4.6% | |
| Cost of Goods Sold by Product | ||||||
| Advanced Technologies | $2.69M-12.6% | $3.08M-22.8% | $3.99M+4.3% | $3.82M+23.1% | $3.11M-26.1% | |
| Electricity Generation | $22.06M+56.5% | $14.09M-5.6% | $14.93M-2.6% | $15.33M-16.7% | $18.41M+20.4% | |
| Service | $3.49M+23.6% | $2.82M-65.8% | $8.26M+127% | $3.64M-59.8% | $9.07M+444% | |
| Revenue by Geography | ||||||
| Europe | $63K-46.6% | $118K— | —— | —— | $103K-14.9% | |
| KR | $21.44M+48.3% | $14.46M— | —— | —— | $13.83M+1,438% | |
| US | $14.09M-11.1% | $15.85M— | —— | —— | $23.47M+31.4% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does FuelCell Energy break its business down?
- FuelCell Energy (FCEL) reports revenue by product across 3 parts — Advanced Technologies, Electricity Generation and Service. Each is extracted from the segment footnotes and tracked over time.
- Where does FuelCell Energy's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in FuelCell Energy's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
