FuelCell Energy, Inc. (NASDAQ:FCEL) stock fell after reporting third-quarter fiscal 2025 revenue of $46.7 million, up 97% from last year but below analyst expectations. However, the stock has since rebounded by over 2%.
The company posted an adjusted net loss per share of 95 cents, beating the estimated $1.44 loss, with a widened net loss of $92.5 million.
Product revenue surged to $26.0 million, driven by Gyeonggi Green Energy and Ameresco, while service revenue rose to $3.1 million.
Generation revenue fell to $12.4 million, and Advanced Technologies revenue declined to $5.3 million.
Gross loss narrowed to $5.1 million, and adjusted EBITDA improved to a loss of $16.4 million.
Cash, restricted cash, and short-term investments totaled $236.9 million, down from $318.0 million.
The company raised $39.0 million in gross proceeds from stock sales during the quarter.
Backlog increased 4% to $1.24 billion, with generation backlog growing to $955.0 million.
President and CEO Jason Few highlighted growth and efficiency achievements in the third fiscal quarter.
FuelCell Energy serves clients like Dominion, POSCO Energy, NRG Energy, the Department of Energy, the U.S. Navy, ExxonMobil, and Toyota for various energy projects.

Read more at Yahoo Finance: FuelCell Energy CEO Points To Carbonate Tech As Key To Future Profitability