Filing Flows › Fuelcell Energy (FCEL) › How it makes money
How Fuelcell Energy (FCEL) makes money
Fuelcell Energy (FCEL) made $33.0M of revenue in the third quarter fiscal 2026 (Q3 FY26), -29% from a year earlier. Product brought in $18.0M (55%); Generation brought in $8.8M (27%); Advanced Technologies brought in $3.8M (11%).
Drawing the Sankey…
Revenue by segment, Q3 FY26
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Product | $18.0M | 54.5% | -0.1% | -31% |
| Generation | $8.8M | 26.7% | +1% | -29% |
| Advanced Technologies | $3.8M | 11.4% | -20% | -28% |
| Service | $2.4M | 7.3% | -42% | -23% |
Where each dollar of revenue goes
| Line | Q3 FY26 | % of revenue |
|---|---|---|
| Revenue | $33.0M | 100.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 FY26 | $33.0M | -29% |
| Q2 FY26 | $35.6M | -5% |
| Q1 FY26 | $30.5M | +61% |
| Q4 FY25 | $55.0M | +12% |
| Q3 FY25 | $46.7M | +97% |
| Q2 FY25 | $37.4M | +67% |
| Q4 FY24 | $49.3M | +120% |
From Fuelcell Energy's 10-Q filed Sep 2, 2026 (on EDGAR).
Questions
How does Fuelcell Energy make money?
Fuelcell Energy (FCEL) made $33.0M of revenue in the third quarter fiscal 2026 (Q3 FY26), -29% from a year earlier. Product brought in $18.0M (55%); Generation brought in $8.8M (27%); Advanced Technologies brought in $3.8M (11%).
What is Fuelcell Energy's biggest business?
Product: $18.0M in the third quarter fiscal 2026, 55% of revenue, -31% from a year earlier.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.