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Fuelcell Energy (FCEL)
NASDAQ:FCEL
US Market
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Fuelcell Energy (FCEL) Revenue by Segment

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Revenue by Segment

Shows revenue distribution across various business segments, helping assess which areas are contributing most to growth and stability.
Product revenue has shifted from sporadic to the growth engine — recent module deliveries (GGE/CGN) and the new standardized 12.5 MW block are driving a sustained product ramp and justify Torrington's planned capacity increase to 500 MW. Generation and services remain durable, long‑duration income streams but have shown quarter-to-quarter volatility (Groton outage and impairment), which depressed near‑term revenue and profits. The company’s large ~4 GW pipeline and ample cash de‑risk scale, but converting big data‑center proposals and funding incremental capex on schedule are the key execution risks to hitting margin and EBITDA targets.
Date
Product
Service
Generation
Advanced Technologies
Jun 30, 2026
$18.00M$2.42M$8.80M$3.78M
Mar 31, 2026
$18.02M$4.17M$8.68M$4.71M
Dec 31, 2025
$12.04M$3.19M$10.99M$4.31M
Sep 30, 2025
$30.03M$7.28M$12.19M$5.52M
Jun 30, 2025
$26.00M$3.13M$12.36M$5.26M
Mar 31, 2025
$13.03M$8.14M$12.12M$4.11M
Dec 31, 2024
$72.00K$1.85M$11.35M$5.73M
Sep 30, 2024
$25.43M$5.57M$11.96M$6.37M
Jun 30, 2024
$250.00K$1.41M$13.40M$8.63M
Mar 31, 2024
$0.00$1.37M$14.12M$6.93M