FuelCell Energy, a leader in sustainable energy solutions, reported financial results for the quarter ended July 31, 2024. Total revenues decreased by 7% to $23.7 million compared to $25.5 million in the same period last year. The gross loss improved by 25%, from $8.2 million to $6.2 million year-on-year. Product revenues were $250 thousand, with a gross loss of $3.9 million. Service agreement revenues fell by 86% to $1.4 million, with a gross profit of $265 thousand. Generation revenues increased by 22% to $13.4 million, despite a gross loss of $5.4 million. Advanced Technologies contract revenues rose by 84% to $8.6 million, yielding a gross profit of $2.8 million. Administrative and selling expenses decreased to $14.6 million, while research and development expenses dropped to $12.8 million. The net loss attributable to common stockholders was $33.5 million, or $0.07 per share. The company's liquidity was supported by unrestricted cash and cash equivalents of $159.3 million, and investments in U.S. Treasury Securities of $107.8 million. FuelCell Energy continues to focus on advancing its technology platforms and expanding its generation operating portfolio, which currently stands at 62.8 MW.

FuelCell Energy, a leader in sustainable energy solutions, reported financial results for the quarter ended July 31, 2024. Total revenues decreased by 7% to $23.7 million compared to $25.5 million in the same period last year. The gross loss improved by 25%, from $8.2 million to $6.2 million year-on-year. Product revenues were $250 thousand, with a gross loss of $3.9 million. Service agreement revenues fell by 86% to $1.4 million, with a gross profit of $265 thousand. Generation revenues increased by 22% to $13.4 million, despite a gross loss of $5.4 million. Advanced Technologies contract revenues rose by 84% to $8.6 million, yielding a gross profit of $2.8 million. Administrative and selling expenses decreased to $14.6 million, while research and development expenses dropped to $12.8 million. The net loss attributable to common stockholders was $33.5 million, or $0.07 per share. The company's liquidity was supported by unrestricted cash and cash equivalents of $159.3 million, and investments in U.S. Treasury Securities of $107.8 million. FuelCell Energy continues to focus on advancing its technology platforms and expanding its generation operating portfolio, which currently stands at 62.8 MW.