Key Points – FuelCell Energy reported a wider fiscal Q2 loss after a $42.6 million non-cash impairment tied to its Groton Navy project, even as adjusted EBITDA improved year over year.
Revenue fell 5% to $35.6 million, with weaker service and generation revenue partly offset by higher product and advanced technology revenue. – Management highlighted a rapidly expanding sales pipeline, which grew to 4 gigawatts and is now about 89% tied to data center opportunities
The company also introduced a new 12.5-megawatt modular fuel cell product aimed at AI and grid-constrained customers. – FuelCell Energy raised its planned Torrington manufacturing expansion to 500 megawatts annually from 350 megawatts, with an estimated cost of $200 million to $275 million. The company ended the quarter with $440.9 million in cash and said it remains essentially debt-free, while continuing to finance growth through project and equity options. – MarketBeat Week in Review – 03/09 – 03/13 FuelCell Energy (NASDAQ:FCEL) reported a wider second-quarter loss for fiscal 2026 as a non-cash impairment tied to its Groton Navy project weighed on results, while management emphasized a sharply expanding sales pipeline tied largely to data center and artificial intelligence-related power demand. President and Chief Executive Officer Jason Few said demand for distributed baseload power is increasing as AI, digital infrastructure and high-density computing strain traditional grid timelines.
He said customers are looking for power that can be deployed without waiting years for grid interconnection, positioning the company’s fuel cell systems as a behind-the-meter solution. – FuelCell Energy Is Burning Cash Faster Than It’s Building Momentum “Customers require proven, scalable power that can be deployed without waiting years, and that is where FuelCell Energy is differentiated,” Few said. Revenue slips, loss widens on Groton impairment Chief Financial Officer Michael Bishop said total revenue for the…