FuelCell Energy (NASDAQ: FCEL) reported third-quarter fiscal 2026 revenue of $33.0 million, down 29% from $46.7 million a year earlier. Net loss narrowed to $45.3 million from $91.9 million, while net loss per basic and diluted share was $0.64, compared with $3.78.
The company signed its first capacity reservation agreement with a major data center operator for a planned 75 MW Texas project after quarter-end. It also reported $1.3 billion in committed backlog and $2.35 billion in awarded capacity backlog as of July 31, 2026.
- Third-quarter product revenue was $18.0 million, including $18 million tied to delivery of six fuel cell modules to Gyeonggi Green Energy in South Korea.
- Cash, cash equivalents, restricted cash and restricted cash equivalents totaled $737.3 million at July 31, 2026.
- FuelCell Energy targets a 100 MW annualized production rate in October 2026 and 500 MW of annualized manufacturing capacity by June 2028.
- The Fit Energy agreement covers up to 380 MW across four potential phases, with initial 30 MW deliveries expected in fiscal fourth-quarter 2026.
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