FuelCell Vitality, Inc. (NASDAQ:FCEL) inventory slipped after the corporate reported third-quarter fiscal 2025 income of $46.7 million, up 97% from $23.7 million a 12 months earlier however under analyst expectations of $48.3 million. Nonetheless, it has since reversed these losses and is now buying and selling increased by over 12%.
The corporate posted an adjusted internet loss per share of 95 cents, beating the analyst estimate of a $1.44 loss. Web loss attributable to frequent stockholders widened to $92.5 million from $33.5 million a 12 months earlier, with GAAP internet loss per share at $3.78 versus $1.99 loss.
Product income surged to $26.0 million from $0.3 million, pushed by $24.0 million from Gyeonggi Inexperienced Vitality’s (GGE) 58.8 MW platform in Korea and $2.0 million from Ameresco. Service income rose to $3.1 million from $1.4 million on increased GGE platform exercise.
Additionally Learn: Insights into FuelCell Energy’s Upcoming Earnings
Era income fell to $12.4 million from $13.4 million because of upkeep downtime, whereas Superior Applied sciences income declined to $5.3 million from $8.6 million on decrease ExxonMobil (NYSE:XOM) and authorities contract contributions.
Gross loss narrowed to $5.1 million from $6.2 million. Adjusted EBITDA improved to a lack of $16.4 million from a lack of $20.1 million a 12 months in the past.
Money, restricted money, and short-term investments totaled $236.9 million at quarter-end, down from $318.0 million as of October 31, 2024. Unrestricted money stood at $174.7 million.
The corporate raised $39.0 million in gross proceeds from inventory gross sales throughout the quarter and an extra $12.1 million after quarter-end.
Backlog elevated 4% to $1.24 billion from $1.20 billion a 12 months earlier. Era backlog grew to $955.0 million from $839.5 million, boosted by a 20-year Hartford Undertaking PPA. Service backlog totaled $169.4 million, product backlog $96.2 million, and Superior Applied sciences backlog $24.3 million.
“In our third fiscal quarter, we delivered significant income progress whereas advancing execution of our long-term technique,” stated President and CEO Jason Few. He highlighted carbonate platform effectivity above 50%, demand from knowledge facilities, and value advantages from restructuring. “Trying forward, our focus stays on scaling our core carbonate applied sciences to satisfy America’s pursuit of power management whereas supporting speedy progress throughout the worldwide markets we serve – all with the long-term objective of future profitability.”
FuelCell Vitality’s shoppers embody giant power corporations like Dominion (NYSE:D), POSCO Vitality, and NRG Vitality (NYSE:NRG); authorities entities such because the Division of Vitality and the U.S. Navy; and industrial corporations like ExxonMobil (NYSE:XOM) and Toyota (NYSE:TM) for carbon seize and power initiatives.
