FuelCell Energy Inc. (FCEL) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
3 GREAT PASTURE ROAD DANBURY, CT 06810 |
| State of Incorp. | DE |
| Fiscal Year End | October 31 |
| Industry (SIC) | 362 - Electrical Industrial Apparatus (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 10/31/2024 | 1/31/2024 MRQ | 10/31/2023 | 10/31/2022 | 10/31/2021 | 10/31/2020 | 10/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 297,466 | 353,712 | 458,055 | 432,213 | 149,867 | 9,434 | |||
| Cash and cash equivalents | 297,466 | 249,952 | 458,055 | 432,213 | 149,867 | 9,434 | |||
| Short-term investments | 103,760 | ||||||||
| Restricted cash and investments | 5,957 | 5,159 | 4,423 | 11,268 | 3,473 | ||||
| Receivables | 25,797 | 20,105 | 15,904 | 23,654 | 17,604 | 10,976 | |||
| Inventory, net of allowances, customer advances and progress billings | 102,859 | 84,456 | 90,909 | 67,074 | 50,971 | 54,515 | |||
| Inventory | 102,859 | 84,456 | 90,909 | 67,074 | 50,971 | 54,515 | |||
| Other current assets | 13,152 | 12,881 | 10,989 | 9,177 | 6,306 | 5,921 | |||
| Other undisclosed current assets | 9,233 | ||||||||
| Total current assets: | 445,231 | 476,313 | 580,280 | 543,386 | 233,981 | 84,319 | |||
| Noncurrent Assets | |||||||||
| Inventory, Noncurrent | 2,743 | 7,329 | 7,549 | 4,586 | 8,986 | 2,179 | |||
| Finance lease, right-of-use asset, after accumulated amortization | 100 | 100 | 40 | ||||||
| Operating lease, right-of-use asset | 8,197 | 8,352 | 7,189 | 8,109 | 10,098 | 10,100 | |||
| Property, plant and equipment | 97,941 | 89,668 | 58,137 | 39,416 | 36,331 | 41,134 | |||
| Intangible assets, net (including goodwill) | 19,827 | 20,151 | 21,448 | 22,745 | 24,042 | 25,339 | |||
| Goodwill | 4,075 | 4,075 | 4,075 | 4,075 | 4,075 | 4,075 | |||
| Intangible assets, net (excluding goodwill) | 15,752 | 16,076 | 17,373 | 18,670 | 19,967 | 21,264 | |||
| Contract with customer, asset, after allowance for credit loss | 22,700 | 25,800 | 9,700 | ||||||
| Derivative instruments and hedges | 2,300 | ||||||||
| Restricted cash and investments | 45,376 | 44,465 | 18,566 | 16,731 | 32,952 | 26,871 | |||
| Other noncurrent assets | 43,075 | 51,176 | 13,662 | 16,998 | 15,339 | 9,489 | |||
| Other undisclosed noncurrent assets | 235,790 | 232,266 | 223,086 | 223,177 | 161,769 | 134,015 | |||
| Total noncurrent assets: | 477,949 | 479,207 | 359,437 | 331,862 | 289,557 | 249,127 | |||
| TOTAL ASSETS: | 923,180 | 955,520 | 939,717 | 875,248 | 523,538 | 333,446 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 39,378 | 52,831 | 64,145 | 35,366 | 25,257 | 28,395 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | 8,534 | |||||
| Accounts payable | 17,055 | 26,518 | 28,196 | 19,267 | 9,576 | 16,943 | |||
| Accrued liabilities | 22,323 | 26,313 | 27,415 | 16,099 | 15,681 | 11,452 | |||
| Deferred revenue | 3,616 | 2,406 | 16,341 | 6,287 | 10,399 | 11,471 | |||
| Debt | 10,198 | 10,067 | 13,198 | 10,085 | 21,366 | 21,916 | |||
| Other undisclosed current liabilities | 694 | 599 | (7,884) | 1,032 | 1,877 | 950 | |||
| Total current liabilities: | 53,886 | 65,903 | 85,800 | 52,770 | 58,899 | 62,732 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation: | 7,575 | 8,093 | 9,817 | ||||||
| Liabilities, other than long-term debt | 127,268 | 129,312 | 91,958 | 109,060 | 182,152 | 118,845 | |||
| Deferred revenue | 686 | 732 | 9,095 | 30,427 | 31,501 | 28,705 | |||
| Other liabilities | 117,670 | 119,588 | 82,863 | 78,633 | 150,651 | 90,140 | |||
| Operating lease, liability | 8,912 | 8,992 | 7,575 | 8,093 | 9,817 | ||||
| Other undisclosed noncurrent liabilities | 18,265 | 16,275 | |||||||
| Total noncurrent liabilities: | 127,268 | 129,312 | 99,533 | 117,153 | 210,234 | 135,120 | |||
| Total liabilities: | 181,154 | 195,215 | 185,333 | 169,923 | 269,133 | 197,852 | |||
| Temporary equity, carrying amount | 59,857 | 3,030 | 3,030 | ||||||
| Equity | |||||||||
| Equity, attributable to parent | 663,934 | 682,493 | 684,392 | 642,438 | 194,548 | 75,737 | |||
| Common stock | 45 | 45 | 41 | 37 | 29 | 19 | |||
| Treasury stock, value | (1,129) | (1,078) | (855) | (586) | (432) | (466) | |||
| Additional paid in capital | 2,200,862 | 2,199,661 | 2,094,076 | 1,908,471 | 1,359,454 | 1,151,454 | |||
| Deferred employee stock ownership plan, issuance of shares or sale of treasury shares | 1,129 | 1,078 | 855 | 586 | 432 | 466 | |||
| Accumulated other comprehensive loss | (1,639) | (1,672) | (1,752) | (819) | (739) | (647) | |||
| Accumulated deficit | (1,535,334) | (1,515,541) | (1,407,973) | (1,265,251) | (1,164,196) | (1,075,089) | |||
| Equity, attributable to noncontrolling interest | 18,235 | 17,955 | 7,105 | ||||||
| Other undisclosed equity | 59,857 | 59,857 | |||||||
| Total equity: | 682,169 | 700,448 | 691,497 | 642,438 | 254,405 | 135,594 | |||
| Other undisclosed liabilities and equity | 59,857 | 59,857 | 59,857 | ||||||
| TOTAL LIABILITIES AND EQUITY: | 923,180 | 955,520 | 939,717 | 875,248 | 523,538 | 333,446 | |||
Income Statement (P&L) ($ in thousands)
| 10/31/2024 | 1/31/2024 TTM | 10/31/2023 | 10/31/2022 | 10/31/2021 | 10/31/2020 | 10/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 103,012 | 123,394 | 130,484 | 69,585 | 70,871 | 60,752 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (130,509) | (133,929) | (160,059) | (85,224) | (78,596) | (82,021) | ||
| Gross profit: | (27,497) | (10,535) | (29,575) | (15,639) | (7,725) | (21,269) | ||
| Operating expenses | (128,610) | (125,549) | (114,149) | (49,263) | (31,441) | (45,660) | ||
| Operating loss: | (156,107) | (136,084) | (143,724) | (64,902) | (39,166) | (66,929) | ||
| Nonoperating income (expense) | 17,477 | 20,519 | 3,705 | (694) | 684 | 93 | ||
| Investment income, nonoperating | 16,452 | 15,795 | ||||||
| Other nonoperating income (expense) | 1,025 | 4,724 | 3,705 | (694) | 684 | 93 | ||
| Interest and debt expense | 7,264 | 8,090 | (6,394) | (18,519) | (13,493) | (10,623) | ||
| Loss from continuing operations before equity method investments, income taxes: | (131,366) | (107,475) | (146,413) | (84,115) | (51,975) | (77,459) | ||
| Other undisclosed loss from continuing operations before income taxes | (16,908) | (37,086) | ||||||
| Loss from continuing operations before income taxes: | (131,366) | (107,475) | (146,413) | (101,023) | (89,061) | (77,459) | ||
| Income tax expense | (3) | (581) | (819) | (2) | (46) | (109) | ||
| Loss from continuing operations: | (131,369) | (108,056) | (147,232) | (101,025) | (89,107) | (77,568) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (147,232) | (101,025) | (89,107) | (77,568) | |
| Net loss: | (131,369) | (108,056) | (147,232) | (101,025) | (89,107) | (77,568) | ||
| Net income (loss) attributable to noncontrolling interest | 22,630 | 488 | 4,510 | (30) | ||||
| Net loss attributable to parent: | (108,739) | (107,568) | (142,722) | (101,055) | (89,107) | (77,568) | ||
| Other undisclosed net loss available to common stockholders, basic | (3,200) | (3,200) | (3,200) | (3,200) | (3,331) | (22,677) | ||
| Net loss available to common stockholders, diluted: | (111,939) | (110,768) | (145,922) | (104,255) | (92,438) | (100,245) | ||
Comprehensive Income ($ in thousands)
| 10/31/2024 | 1/31/2024 TTM | 10/31/2023 | 10/31/2022 | 10/31/2021 | 10/31/2020 | 10/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (131,369) | (108,056) | (147,232) | (101,025) | (89,107) | (77,568) | ||
| Other undisclosed comprehensive income (loss) | (334) | 80 | (933) | |||||
| Comprehensive loss: | (131,703) | (107,976) | (148,165) | (101,025) | (89,107) | (77,568) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 22,630 | 488 | 4,510 | |||||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (80) | (92) | (244) | |||||
| Comprehensive loss, net of tax, attributable to parent: | (109,073) | (107,488) | (143,655) | (101,105) | (89,199) | (77,812) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.