FuelCell Energy FCEL Business Segments
| Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Product | ||||||
| Advanced Technologies | $4.72M+14.7% | $4.31M-24.8% | $5.52M-13.3% | $5.26M-39.1% | $4.11M-40.7% | |
| Electricity Generation | $8.68M-28.4% | $10.99M-3.2% | $12.19M+1.9% | $12.36M-7.8% | $12.12M-14.1% | |
| Service | $4.18M-48.7% | $3.19M+72.6% | $7.28M+30.6% | $3.13M+122% | $8.14M+495% | |
| Revenue Remaining Performance Obligation by Product | ||||||
| Advanced Technologies | $4.9M-38.0% | $5.1M-45.7% | $5.7M-40.6% | $7.1M-34.9% | $7.9M-44.4% | |
| Electricity Generation | $370.3M-3.3% | $370.2M-3.8% | $373.2M+116% | $378.9M-4.4% | $383M+14.2% | |
| Service | $155.4M-5.5% | $159.4M-7.5% | $162.4M-58.3% | $169.4M-5.0% | $164.4M+13.3% | |
| Cost of Goods Sold by Product | ||||||
| Advanced Technologies | $2.69M-13.3% | $3.08M-26.7% | $3.99M-13.2% | $3.82M-34.2% | $3.11M-19.7% | |
| Electricity Generation | $22.06M+19.8% | $14.09M-7.9% | $14.93M-20.5% | $15.33M-18.3% | $18.41M-14.1% | |
| Service | $3.49M-61.5% | $2.82M+69.2% | $8.26M+21.5% | $3.64M+218% | $9.07M+616% | |
| Revenue by Geography | ||||||
| Europe | $63K-38.8% | $118K-2.5% | —— | —— | $103K-78.5% | |
| KR | $21.44M+55.0% | $14.46M+1,508% | —— | —— | $13.83M+142% | |
| US | $14.09M-40.0% | $15.85M-11.3% | —— | —— | $23.47M+8.0% |
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.
