FuelCell Energy, Inc. (NASDAQ: FCEL) shares popped Friday on reporting financial results for its second quarter ended April 30, 2025.
“In our second fiscal quarter, we delivered sequential revenue growth and continued executing on the disciplined cost management strategy we initiated in late 2024, in recognition of the changing energy landscape,” said CEO Jason Few.
“Additionally, today we are reiterating our focused strategy that prioritizes advancement of our carbonate platform with the goal of meeting accelerating market demand driven by AI data centers, our distributed power generation solutions, and our carbon recovery and utilization applications.”
Product revenues were $13.0 million compared to no product revenues recognized for the comparable prior year period.
Service agreements revenues increased to $8.1 million from $1.4 million. The increase in service agreements revenues during the three months ended April 30, 2025 was primarily driven by module replacement revenue recognized under the Company’s long-term service agreement with United Illuminating.
There were three module replacements, one of which was fulfilled with a used module, during the three months ended April 30, 2025, and no module replacements during the comparable prior year period.
Generation revenues decreased to $12.1 million from $14.1 million. The decrease in generation revenues for the three months ended April 30, 2025 reflects lower power output resulting from maintenance activities during the quarter.
FCEL shares hiked $1.20, or 23.1%, to $6.40
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