FuelCell Energy Q4 2020 Earnings Report
Key Takeaways
FuelCell Energy reported a 54% increase in fourth-quarter revenue, driven by growth in Service and License revenues, as well as Advanced Technologies contract revenues. The company made progress on project backlog and improved its balance sheet through strategic capital raises.
Revenue increased by 54% to $17.0 million due to growth in service and license, and advanced technologies.
Loss from operations improved to $(17.1) million compared to $(33.0) million.
Net loss decreased to $(18.9) million from $(35.2) million.
The company is focused on operational and commercial excellence, prudent capital deployment, and cost reduction.
FuelCell Energy
FuelCell Energy
FuelCell Energy Revenue by Segment
Forward Guidance
FuelCell Energy is focused on commercially advancing new applications of its technology, including working toward delivery of its first demonstration solid oxide electrolysis platform, while continuing to execute on its backlog of projects and delivering its traditional distributed generation solutions.
Positive Outlook
- Advancing new applications of technology.
- Delivery of first demonstration solid oxide electrolysis platform.
- Continuing to execute on backlog of projects.
- Delivering traditional distributed generation solutions.
- Focus on distributed generation, distributed hydrogen, long-duration hydrogen energy storage and power generation as well as electrolysis, and carbon capture, sequestration and utilization (CCSU).
Revenue & Expenses
Visualization of income flow from segment revenue to net income