FuelCell Energy reported Q4 2024 revenue of $49.3 million, up 120% YoY, driven primarily by $18 million module sales to Gyeonggi Green Energy in South Korea. However, the company posted a wider gross loss of $10.9 million compared to $1.5 million in Q4 2023, and a net loss of $39.6 million versus $29.5 million.For full fiscal 2024, revenue declined 9% to $112.1 million, with operating loss expanding to $158.5 million from $136.1 million in FY2023. The company maintained a strong liquidity position with $318 million in total cash and investments as of October 31, 2024.FuelCell Energy announced a global restructuring plan aimed at reducing operating costs by approximately 15% in fiscal 2025. The plan includes workforce reductions and lower product development spending, while focusing resources on distributed power generation, grid resiliency and data center growth opportunities. The company expects material revenue improvement in FY2025, supported by contracted module deliveries to Korea.

FuelCell Energy reported Q4 2024 revenue of $49.3 million, up 120% YoY, driven primarily by $18 million module sales to Gyeonggi Green Energy in South Korea. However, the company posted a wider gross loss of $10.9 million compared to $1.5 million in Q4 2023, and a net loss of $39.6 million versus $29.5 million.For full fiscal 2024, revenue declined 9% to $112.1 million, with operating loss expanding to $158.5 million from $136.1 million in FY2023. The company maintained a strong liquidity position with $318 million in total cash and investments as of October 31, 2024.FuelCell Energy announced a global restructuring plan aimed at reducing operating costs by approximately 15% in fiscal 2025. The plan includes workforce reductions and lower product development spending, while focusing resources on distributed power generation, grid resiliency and data center growth opportunities. The company expects material revenue improvement in FY2025, supported by contracted module deliveries to Korea.