Fuelcell Focuses on Data Center Market: Fuel Cell Specialist Increases Revenue by 41 Percent in 2025 - Gross Loss Reduced
Danbury (USA) – Fuelcell Energy closed fiscal year 2025 (November 1, 2024 – October 31, 2025) with significant revenue growth and is increasingly focusing its business on the data center market.
The gross loss decreased to USD -26.4 million from USD -35.9 million in the prior year. Operating loss, however, increased to USD -192.3 million compared with USD -158.5 million in 2024. Net loss per share for common shareholders was USD -7.42, slightly lower than USD -7.83 in the previous year.
In the fourth quarter, Fuelcell Energy achieved revenue of USD 55.0 million, up 12 percent compared to the same quarter last year. Product sales increased to USD 30.0 million (Q4/2024: USD 25.4 million), mainly due to the completion of a long-term service contract with Gyeonggi Green Energy in South Korea. Service contracts and power generation also contributed to quarterly revenue, while Advanced Technologies contracts declined slightly.
Operating expenses for the quarter decreased to USD 21.7 million, primarily due to lower research and development spending. Non-cash impairments were USD 1.3 million.
"Our strategy is deeply focused on the data center market where we see significant opportunities for our efficient, resilient power solutions. We’ve simplified our product line, advanced efficiency, and integrated absorption chilling to help manage thermal loads—critical for high-compute environments,” said Jason Few, President and CEO of Fuelcell Energy, regarding the company’s strategic direction.
Cash and cash equivalents at year-end amounted to USD 278.1 Million. Michael Bishop, EVP and CFO, stated: “We believe we have significant runway to pursue our strategy focused on opportunities in the rapidly growing data center market.”
Source: IWR Online, 19 Dec 2025
