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FuelCell Energy Inc. (FCEL-5.70%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing reports total revenues of $18.997 million for the quarter, an increase from $16.691 million in the same quarter of the previous year. This increase was driven by higher generation revenues and advanced technologies contract revenues.
Cost of revenues for the quarter was $24.201 million, down from $28.416 million in the prior year. The decrease in cost was primarily due to reductions in generation costs.
The company reported a gross loss of $5.204 million for the quarter, compared to a gross loss of $11.725 million in the previous year.
Operating expenses for the quarter included $15.030 million in administrative and selling expenses, $11.081 million in research and development expenses, and $1.536 million in restructuring expenses.
FuelCell Energy recorded a net loss attributable to common stockholders of $29.126 million, compared to $20.593 million in the prior year. The increase in net loss was driven by decreased net loss attributable to noncontrolling interests.
Cash used in operating activities was $45.710 million, while cash used in investing activities was $7.355 million. Cash provided by financing activities was $4.836 million.
The company ended the quarter with $98.1 million in unrestricted cash and cash equivalents, down from $148.1 million at the end of the previous fiscal year.
The filing also details various financial agreements, including the OpCo Financing Facility and the Derby and Groton Back Leverage Loan Facilities.
FuelCell Energy continues to focus on advancing its solid oxide and carbonate platforms and enhancing its carbon capture solutions.
The company is actively seeking additional financing and partnerships to support its growth and commercialization efforts.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the FuelCell Energy Inc. quarterly 10-Q report dated March 11, 2025. To report an error, please email earnings@qz.com.