FuelCell Energy Q3 Revenue Falls 29% to $33 Million as Losses Widen
FuelCell Energy posted third-quarter revenue of approximately USD 33 million, down 29% from a year earlier, according to Hydrogen Fuel News.
The company recorded a net loss of nearly USD 45 million for the quarter, equal to about USD 0.64 per diluted share, Hydrogen Fuel News reported. Scale-up costs persist, per the outlet's account of the quarter.
Management is redirecting the business toward hydrogen data centers and hubs, and is targeting positive EBITDA by late FY2027, according to Hydrogen Fuel News.
That pivot places the fuel cell manufacturer's recovery timetable on demand from computing load rather than on its existing revenue base, which shrank by nearly a third year over year. The gap between the current quarterly loss and the EBITDA target leaves several quarters of execution between the reported figures and the stated goal.
Source: hydrogenfuelnews.com (opens in a new tab)1 sourcePermalink