Revenue rose 14% year-over-year to $18.99 million compared to a Wall Street estimate of $33.49 million, according to FinChat data.

Shares of FuelCell Energy Inc (FCEL) tumbled nearly 12% in Tuesday’s pre-market session after the company’s first-quarter revenue fell short of Wall Street expectations.

Revenue rose 14% year-over-year (YoY) to $18.99 million but fell below a Wall Street estimate of $33.49 million, according to FinChat data. The company reported an earnings loss of $1.42, marginally better than the feared loss of $1.53.

Net loss attributable to common stockholders rose 41% YoY to $29.13 million.

The company reported Product revenue of $0.1 million compared to nil revenue recognized in the same quarter a year ago. Service agreements revenues rose to $1.8 million from $1.6 million, while Generation revenues increased to $11.3 million from $10.5 million.

At the same time, Advanced Technologies contract revenues increased to $5.7 million from $4.6 million.

CEO Jason Few said the current quarter will be the low-water mark for the company’s quarterly revenue for the fiscal year 2025 based on its expected production and module shipment schedule.

“Our cost-saving initiatives are already yielding positive outcomes, and our commitment to uncovering and capitalizing on growth opportunities is paying off,” he said.

The company announced a global restructuring plan in November 2024 and expects to reduce operating costs by approximately 15% YoY in the fiscal year 2025. The plan also included an approximately 13% reduction in the workforce and reduced spending for product development, overhead, and other costs.

As of Jan. 31, 2025, the company reported cash and cash equivalents, restricted cash and cash equivalents, and short-term investments worth $270.7 million.

Meanwhile, on Stocktwits, retail sentiment continued to trend in the ‘bullish’ territory (72/100) accompanied by ‘high’ message volumes.

FCEL’s Sentiment Meter and Message Volume as of 8:13 a.m. ET on March 11, 2025 | Source: Stocktwits

Stocktwits user comments reflected skepticism on the stock following the earnings report.

FCEL shares have lost over 38% in 2025 and are down nearly 81% over the past year.

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