The latest announcement is out from Fuelcell Energy (FCEL).
FuelCell Energy reported a third-quarter fiscal 2024 revenue decline of 7% year-over-year, with a net loss widening to $(35.1) million from $(23.6) million in the same quarter the previous year. Despite the decrease in revenue and increased net loss, the company saw improvement in gross loss and reductions in operating expenses, reflecting cost management efforts and a strategic shift in resource allocation. Cash and short-term investments totaled $326.0 million, a decrease from the previous term, as the company focuses on preserving its balance sheet strength.
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