FuelCell Energy reports 41% revenue growth in FY2025

FuelCell Energy (NASDAQ:FCEL) delivered impressive financial results for the fiscal year 2025, posting a 41% increase in revenue to $158.2 million.

For the fourth quarter, the company reported $55 million in revenue, up 12% compared to the same period last year.

These results underscore FuelCell Energy’s strong growth trajectory, driven by increasing demand in both U.S. and international data center markets.

The company’s backlog grew by 2.6% to $1.19 billion, indicating continued demand for its fuel cell solutions, particularly in the energy-intensive data center sector.

As a key part of its long-term growth strategy, FuelCell Energy has been expanding its presence in the data-center market, where it sees significant potential for its fuel cell technology to provide sustainable, on-site energy solutions.

Despite the revenue growth, FuelCell Energy reported a net loss per share of $(7.42) for the fiscal year, reflecting ongoing investments in its growth initiatives.

However, the company’s adjusted EBITDA improved in Q4, narrowing the loss to $(17.7) million, as margins improved due to higher product demand and improved operational efficiencies.

The company’s unrestricted cash at the end of the fiscal year stood at $278.1 million, providing a solid financial foundation for future growth.

FuelCell Energy also secured EXIM debt financing to support its expansion efforts, including scaling its data-center strategy and increasing its manufacturing capacity.