$FCEL

FUELCELL ENERGY INC

CIK:0000886128|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2026	Jul. 31, 2025
Revenues:
Total revenues	$ 33,001	$ 46,743	$ 99,121	$ 103,146
Costs of revenues:
Total costs of revenues	57,504	51,877	142,410	122,922
Gross loss	(24,503)	(5,134)	(43,289)	(19,776)
Operating expenses:
Administrative and selling expenses	13,648	14,066	41,826	45,566
Research and development expenses	8,509	7,646	23,181	28,623
Restructuring expense		4,051		5,593
Impairment expense		64,467	42,567	64,467
Total costs and expenses	22,157	90,230	107,574	144,249
Loss from operations	(46,660)	(95,364)	(150,863)	(164,025)
Interest expense	(2,903)	(2,548)	(8,520)	(7,703)
Interest income	3,573	2,144	8,588	6,357
Other income, net	707	3,912	1,782	3,464
Loss before benefit from (provision for) income taxes	(45,283)	(91,856)	(149,013)	(161,907)
Benefit from (provision for) income taxes		(40)	50	(124)
Net loss	(45,283)	(91,896)	(148,963)	(162,031)
Net loss attributable to noncontrolling interests	(816)	(240)	(3,729)	(4,000)
Net loss attributable to FuelCell Energy, Inc.	(44,467)	(91,656)	(145,234)	(158,031)
Series B preferred stock dividends	(800)	(800)	(2,400)	(2,400)
Net loss attributable to common stockholders	$ (45,267)	$ (92,456)	$ (147,634)	$ (160,431)
Loss per share basic and diluted:
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.64)	$ (3.78)	$ (2.56)	$ (7.22)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.64)	$ (3.78)	$ (2.56)	$ (7.22)
Basic weighted average shares outstanding (in shares)	70,405,692	24,441,294	57,649,267	22,233,074
Diluted weighted average shares outstanding (in shares)	70,405,692	24,441,294	57,649,267	22,233,074
Net loss	$ (45,283)	$ (91,896)	$ (148,963)	$ (162,031)
Other comprehensive income (loss):
Foreign currency translation adjustments	64	(374)	(51)	(320)
Total comprehensive loss	(45,219)	(92,270)	(149,014)	(162,351)
Comprehensive income (loss) attributable to noncontrolling interests	(816)	(240)	(3,729)	(4,000)
Comprehensive loss attributable to FuelCell Energy, Inc.	(44,403)	(92,030)	(145,285)	(158,351)
Product
Revenues:
Total revenues	18,000	26,000	48,060	39,099
Costs of revenues:
Total costs of revenues	37,102	29,083	73,779	48,380
Service
Revenues:
Total revenues	2,422	3,130	9,786	13,122
Costs of revenues:
Total costs of revenues	3,776	3,642	10,087	14,377
Generation
Revenues:
Total revenues	8,801	12,355	28,470	35,825
Costs of revenues:
Total costs of revenues	14,353	15,330	50,500	49,035
Advanced Technologies
Revenues:
Total revenues	3,778	5,258	12,805	15,100
Costs of revenues:
Total costs of revenues	$ 2,273	$ 3,822	$ 8,044	$ 11,130

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities:
Net loss	$ (148,963)	$ (162,031)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	7,472	8,657
Depreciation and amortization	30,747	30,582
Non-cash interest expense on finance obligations	2,086	1,773
Unrealized gain on derivative contracts	(2,480)	(1,862)
Operating lease costs	1,257	1,005
Operating lease payments	(1,090)	(1,030)
Impairment expense	42,567	64,467
Other, net	(4)	180
(Increase) decrease in operating assets:
Accounts receivable	(3,173)	1,801
Unbilled receivables	(33,943)	(33,110)
Inventories	(808)	(2,058)
Other assets	(2,022)	(10,019)
(Decrease) increase in operating liabilities:
Accounts payable	(1,169)	(3,943)
Accrued liabilities	11,379	(258)
Deferred revenue	24,707	3,419
Net cash used in operating activities	(73,437)	(102,427)
Cash flows from investing activities:
Capital expenditures	(3,799)	(17,586)
Project asset expenditures	(12,022)	(3,845)
Maturity of held-to-maturity debt securities		772,370
Purchases of held-to-maturity debt securities		(660,969)
Net cash (used in) provided by investing activities	(15,821)	89,970
Cash flows from financing activities:
Repayment of debt and finance obligations	(13,894)	(10,424)
Proceeds from the issuance of debt	49,563
Payment for deferred financing costs	(3,817)	(171)
Common stock issued for stock plans and related expenses	53	51
Contributions received from sale of noncontrolling interest	4,000	4,000
Distribution to noncontrolling interest	(1,588)	(1,638)
Payments for taxes related to net share settlement of equity awards	(709)	(507)
Common stock issuance, net of fees	453,629	51,626
Payment of preferred dividends	(2,400)	(2,400)
Net cash provided by financing activities	484,837	40,537
Effects on cash from changes in foreign currency rates	(51)	(109)
Net increase in cash, cash equivalents and restricted cash	395,528	27,971
Cash, cash equivalents and restricted cash-beginning of period	341,792	208,883
Cash, cash equivalents and restricted cash-end of period	$ 737,320	$ 236,854