Filing Flows › Fuelcell Energy (FCEL) › Q3 FY26
Fuelcell Energy (FCEL) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Sep 2, 2026
Fuelcell Energy (FCEL) reported revenue of $33.0M for the third quarter fiscal 2026 (Q3 FY26), -29% from a year earlier and -7% from the quarter before. Operating margin was -141.4%, net loss $45.3M (137.2% of revenue).
Fuelcell Energy, Q3 FY26: revenue $33.0M (-29% year over year), operating margin -141.4%, net loss $45.3M, operating cash flow −$12.2M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $33.0M | -7% | -29% |
| Operating profit | −$46.7M | — | — |
| Net earnings | −$45.3M | — | — |
| Operating cash flow | −$12.2M | — | — |
What changed
Revenue was $33.0M in Q3 FY26, down 29% year over year and down 7% from the previous quarter. Product was the largest line at 55% of revenue. Product lost $8.0M year over year (down 31%), 58% of the total change.
Operating costs exceeded revenue by $46.7M, an operating margin of -141.4%. Total costs fell 44% while revenue fell 29%. The fastest-growing cost line was Research & development (+11%). The quarter ended with a net loss of $45.3M, narrower than the previous quarter's $77.6M loss. Minority interests bore $816K of it: to shareholders the quarter was a loss of $44.5M.
Operating cash flow was −$12.2M. Non-cash charges added back $9.4M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items added $21.2M. Capital expenditures of $1.3M exceeded it, leaving free cash flow of −$13.5M.
Questions
What was Fuelcell Energy's revenue in the third quarter fiscal 2026?
Fuelcell Energy (FCEL) reported revenue of $33.0M for the third quarter fiscal 2026 (Q3 FY26), -29% from a year earlier and -7% from the quarter before.
Was Fuelcell Energy profitable in the third quarter fiscal 2026?
Operating loss was $46.7M (-141.4% of revenue) and net loss $45.3M.
Source: Fuelcell Energy 10-Q on SEC EDGAR.