Fuelcell Energy (FCEL) Cost of Revenue (2010 - 2026)
Fuelcell Energy's (FCEL) quarterly Cost of Revenue came in at $57.5 million in Q3 2026, up 10.85% year-over-year from $51.9 million in Q3 2025, and up 18.52% quarter-over-quarter from $48.5 million in Q2 2026.
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Analysis
Fuelcell Energy (FCEL) Cost of Revenue (2010 - 2026) Analysis & Trends
Fuelcell Energy has disclosed Cost of Revenue across 17 years of filings, most recently posting $57.5 million for Q3 2026.
- In Q3 2026, Cost of Revenue rose 10.85% year-over-year to $57.5 million; the TTM figure through Jul 2026 stood at $204.1 million (up 11.41% YoY), while the FY2025 annual figure was $184.6 million, up 24.67% from the prior year.
- Cost of Revenue came in at $57.5 million for Q3 2026 at Fuelcell Energy, up from $48.5 million in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $61.6 million in Q4 2025 to a low of $23.7 million in Q2 2022.
- Average Cost of Revenue over 5 years is $40.5 million, with a median of $36.4 million recorded in 2026.
- Year-over-year, Cost of Revenue sank 56.01% in 2023 and jumped 151.79% in 2024.
- Over 5 years, Cost of Revenue stood at $54.4 million in 2022, then slumped by 56.01% to $23.9 million in 2023, then jumped by 151.79% to $60.2 million in 2024, then advanced by 2.33% to $61.6 million in 2025, then decreased by 6.72% to $57.5 million in 2026.
- Per Business Quant data, the three most recent Cost of Revenue figures were $57.5 million in Q3 2026, $48.5 million in Q2 2026, and $36.4 million in Q1 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Bloom Energy | 77.91 Bn | 75.27 Bn | 355.57 Mn | 709.79 Mn |
| 2 | Fuelcell Energy | 1.45 Bn | 797.66 Mn | -24.50 Mn | 57.50 Mn |
| 3 | Ballard Power Systems | 652.70 Mn | 147.56 Mn | 4.08 Mn | 16.52 Mn |
| 4 | Sunhydrogen | 114.56 Mn | 114.56 Mn | -45,724.00 | 45,724.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 57.50 Mn |
| Apr 30, 2026 | 48.52 Mn |
| Jan 31, 2026 | 36.39 Mn |
| Oct 31, 2025 | 61.65 Mn |
| Jul 31, 2025 | 51.88 Mn |
| Apr 30, 2025 | 46.84 Mn |
| Jan 31, 2025 | 24.20 Mn |
| Oct 31, 2024 | 60.24 Mn |
| Jul 31, 2024 | 29.90 Mn |
| Apr 30, 2024 | 29.49 Mn |
| Jan 31, 2024 | 28.42 Mn |
| Oct 31, 2023 | 23.93 Mn |
| Jul 31, 2023 | 33.73 Mn |
| Apr 30, 2023 | 44.44 Mn |
| Jan 31, 2023 | 31.84 Mn |
| Oct 31, 2022 | 54.39 Mn |
| Jul 31, 2022 | 47.28 Mn |
| Apr 30, 2022 | 23.69 Mn |
| Jan 31, 2022 | 34.69 Mn |
| Oct 31, 2021 | 22.30 Mn |
API Access
Fuelcell Energy Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FCEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "FCEL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FCEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();