Fuelcell Energy (FCEL) Operating Expenses (2010 - 2026)
Fuelcell Energy (FCEL) posted Operating Expenses of $65.0 million for Q2 2026, up 218.03% sequentially from $20.4 million in Q1 2026, and up 146.41% YoY from $26.4 million in Q2 2025.
Fuelcell Energy (FCEL) Operating Expenses (2010 - 2026) Analysis & Trends
Fuelcell Energy has reported Operating Expenses for 17 years, with the latest figure at $65.0 million in Q2 2026.
- Quarterly Operating Expenses rose 146.41% year-over-year to $65.0 million in Q2 2026, while the trailing twelve-month figure through Apr 2026 was $197.3 million (up 76.91% YoY) and the FY2025 annual result came in at $165.9 million, up 35.38% from the prior year.
- Operating Expenses grew to $65.0 million in Q2 2026 per FCEL's latest filing, from $20.4 million in the prior quarter.
- Over five years, Operating Expenses peaked at $90.2 million in Q3 2025 and troughed at $20.4 million in Q1 2026.
- A 5-year average of $34.1 million and a median of $28.7 million in 2023 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses surged 290.04% in 2022, then sank 33.99% in 2023.
- Over 5 years, Operating Expenses stood at $27.5 million in 2022, then gained by 27.06% to $34.9 million in 2023, then decreased by 13.74% to $30.1 million in 2024, then retreated by 27.97% to $21.7 million in 2025, then soared by 199.59% to $65.0 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $65.0 million, $20.4 million, and $21.7 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 99.95 Bn | 96.84 Bn | 1.23 Bn | 490.50 Mn |
| 2 | Bloom Energy | 56.50 Bn | 53.83 Bn | 355.57 Mn | 173.34 Mn |
| 3 | Hubbell | 24.95 Bn | 24.55 Bn | 613.00 Mn | 264.40 Mn |
| 4 | nVent Electric | 24.76 Bn | 24.50 Bn | 558.00 Mn | 257.30 Mn |
| 5 | Advanced Energy Industries | 11.15 Bn | 9.73 Bn | 236.10 Mn | 141.00 Mn |
| 6 | Acuity Inc. (De) | 10.35 Bn | 9.94 Bn | 606.40 Mn | 413.10 Mn |
| 7 | Powell Industries | 7.24 Bn | 6.61 Bn | 95.30 Mn | 31.00 Mn |
| 8 | EnerSys | 6.92 Bn | 6.39 Bn | 313.36 Mn | 151.24 Mn |
| 9 | Plug Power | 3.21 Bn | 2.89 Bn | -1.68 Mn | 62.43 Mn |
| 10 | Fuelcell Energy | 1.04 Bn | 666.01 Mn | -12.93 Mn | 64.98 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 64.98 Mn |
| Jan 31, 2026 | 20.43 Mn |
| Oct 31, 2025 | 21.69 Mn |
| Jul 31, 2025 | 90.23 Mn |
| Apr 30, 2025 | 26.37 Mn |
| Jan 31, 2025 | 27.65 Mn |
| Oct 31, 2024 | 30.12 Mn |
| Jul 31, 2024 | 27.42 Mn |
| Apr 30, 2024 | 34.29 Mn |
| Jan 31, 2024 | 30.75 Mn |
| Oct 31, 2023 | 34.91 Mn |
| Jul 31, 2023 | 33.18 Mn |
| Apr 30, 2023 | 29.77 Mn |
| Jan 31, 2023 | 27.69 Mn |
| Oct 31, 2022 | 27.48 Mn |
| Jul 31, 2022 | 23.82 Mn |
| Apr 30, 2022 | 20.91 Mn |
| Jan 31, 2022 | 41.95 Mn |
| Oct 31, 2021 | 14.19 Mn |
| Jul 31, 2021 | 11.69 Mn |