Fuelcell Energy Inc income statement

In fiscal 2025, Fuelcell Energy Inc reported revenue of $158m, up 41.0% on the year before, operating income of −$192m (a -121.6% margin) and net income of −$188m, or −$7.42 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fuelcell Energy Inc: income statement, annual
Fiscal year	2009Oct 2009	2010Oct 2010	2011Oct 2011	2012Oct 2012	2013Oct 2013	2014Oct 2014	2015Oct 2015	2016Oct 2016	2017Oct 2017	2018Oct 2018	2019Oct 2019	2020Oct 2020	2021Oct 2021	2022Oct 2022	2023Oct 2023	2024Oct 2024	2025Oct 2025	LTMJul 2026
Revenue	88	70	123	121	188	180	163	108	96	89	61	71	70	130	123	112	158	154
Cost of revenue	118	88	135	120	181	167	150	109	93	86	82	79	85	160	134	148	185	204
Gross profit	−30	−19	−13	0	7	14	13	−0	3	3	−21	−8	−16	−30	−11	−36	−26	−50
Research and development	19	19	17	14	16	18	17	21	20	23	14	5	11	35	61	55	34	29
Selling, general and administrative	17	17	16	18	21	23	24	25	26	25	32	27	38	80	65	65	61	57
Operating income	−66	−54	−46	−32	−30	−27	−29	−46	−45	−45	−67	−39	−65	−144	−136	−158	−192	−179
Interest expense	0	−0	3	2	4	4	3	5	9	9	11	15	7	6	7	10	10	11
Income before tax	−69	−56	−46	−36	−35	−38	−29	−51	−54	−50	−77	−89	−101	−146	−107	−157	−191	−178
Income tax	—	0	0	0	0	0	0	1	0	−3	0	0	0	1	1	0	0	—
Net income	−69	−56	−46	−35	−34	−38	−29	−51	−54	−47	−78	−89	−101	−143	−108	−126	−188	−175
Diluted EPS	−$133.65	−$85.05	−$63.45	−$2.59	−$27.23	−$22.73	−$1.25	−$1.71	−$12.87	−$8.45	−$13.65	−$12.60	−$9.30	−$11.43	−$7.92	−$7.83	−$7.42	—
Diluted shares (average)	—	—	—	1m	1m	2m	2m	3m	4m	7m	7m	7m	11m	13m	14m	17m	26m	—
EBITDA	−58	−47	−39	−27	−26	−23	−25	−42	−41	−36	−55	−20	−45	−122	−111	−122	−152	−139

US$ millions unless shown otherwise. Fiscal quarters.

Fuelcell Energy Inc: income statement, quarterly
Quarter	2024 Q4Oct 2024	2025 Q1Jan 2025	2025 Q2Apr 2025	2025 Q3Jul 2025	2025 Q4Oct 2025	2026 Q1Jan 2026	2026 Q2Apr 2026	2026 Q3Jul 2026
Revenue	49	19	37	47	55	31	36	33
Cost of revenue	60	24	47	52	62	36	49	58
Gross profit	−11	−5	−9	−5	−7	−6	−13	−25
Research and development	12	11	10	8	5	7	8	9
Selling, general and administrative	16	15	16	14	15	13	15	14
Operating income	−41	−33	−36	−95	−28	−26	−78	−47
Interest expense	3	3	3	3	3	3	3	3
Income before tax	−40	−32	−38	−92	−29	−26	−78	−45
Income tax	0	—	0	0	0	—	−0	0
Net income	−41	−28	−38	−92	−30	−23	−78	−44
Diluted EPS	−$2.27	−$1.42	−$1.79	−$3.78	−$0.20	−$0.49	−$1.45	−$0.64
EBITDA	−32	−23	−25	−86	−19	−16	−67	−37

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Fuelcell Energy Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Fuelcell Energy Inc.