Summary by Moomoo AI
FuelCell Energy reported Q1 fiscal 2025 revenues of $19.0 million, up 14% from $16.7 million in Q1 2024, driven by higher generation and Advanced Technologies revenues. Net loss narrowed to $32.4 million from $44.4 million year-over-year. Generation revenues increased 8% to $11.3 million, while Advanced Technologies contract revenues grew 25% to $5.7 million.The company continued strategic investments in product development while implementing cost reduction initiatives, including a 17% workforce reduction. Operating expenses decreased to $27.6 million from $30.8 million last year. The generation portfolio remained stable at 62.8 MW, with three additional projects totaling 8.7 MW under development.As of January 31, 2025, FuelCell Energy maintained $98.1 million in unrestricted cash and $110.3 million in short-term investments. Total backlog increased 28% year-over-year to $1.31 billion, boosted by new contracts including a 7.4 MW project in Hartford and a long-term service agreement with GGE in Korea worth $159.6 million.
Comment(0)
Reason For Report