Filing Flows › Fuelcell Energy (FCEL) › Q2 FY26
Fuelcell Energy (FCEL) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jun 8, 2026
Fuelcell Energy (FCEL) reported revenue of $35.6M for the second quarter fiscal 2026 (Q2 FY26), -5% from a year earlier and +17% from the quarter before. Operating margin was -218.9%, net loss $77.6M (218.1% of revenue).
Fuelcell Energy, Q2 FY26: revenue $35.6M (-5% year over year), operating margin -218.9%, net loss $77.6M, operating cash flow −$27.3M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.6M | +17% | -5% |
| Operating profit | −$77.9M | — | — |
| Net earnings | −$77.6M | — | — |
| Operating cash flow | −$27.3M | — | — |
What changed
Revenue was $35.6M in Q2 FY26, down 5% year over year and up 17% from the previous quarter. Product was the largest line at 51% of revenue. Service lost $4.0M year over year (down 49%), 218% of the total change.
Operating costs exceeded revenue by $77.9M, an operating margin of -218.9%. Total costs grew 55% against a revenue fall of 5%. The quarter ended with a net loss of $77.6M, wider than the previous quarter's $26.1M loss.
Operating cash flow was −$27.3M. Non-cash charges added back $10.8M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $36.9M. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$29.0M.
Questions
What was Fuelcell Energy's revenue in the second quarter fiscal 2026?
Fuelcell Energy (FCEL) reported revenue of $35.6M for the second quarter fiscal 2026 (Q2 FY26), -5% from a year earlier and +17% from the quarter before.
Was Fuelcell Energy profitable in the second quarter fiscal 2026?
Operating loss was $77.9M (-218.9% of revenue) and net loss $77.6M.
Source: Fuelcell Energy 10-Q on SEC EDGAR.