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Fuelcell Energy (FCEL) Research & Development (2016 - 2026)

Fuelcell Energy's Research & Development history spans 16 years, with the latest figure at $7.0 million for Q1 2026.

  • For Q1 2026, Research & Development fell 37.16% year-over-year to $7.0 million; the TTM value through Jan 2026 reached $30.0 million, down 42.53%, while the annual FY2025 figure was $34.1 million, 38.49% down from the prior year.
  • Research & Development for Q1 2026 was $7.0 million at Fuelcell Energy, up from $5.5 million in the prior quarter.
  • Across five years, Research & Development topped out at $18.0 million in Q4 2023 and bottomed at $5.0 million in Q1 2022.
  • The 5-year median for Research & Development is $11.6 million (2024), against an average of $11.3 million.
  • The largest annual shift saw Research & Development skyrocketed 248.45% in 2022 before it plummeted 53.0% in 2025.
  • A 5-year view of Research & Development shows it stood at $12.2 million in 2022, then skyrocketed by 47.56% to $18.0 million in 2023, then tumbled by 35.59% to $11.6 million in 2024, then tumbled by 53.0% to $5.5 million in 2025, then rose by 27.62% to $7.0 million in 2026.
  • Per Business Quant, the three most recent readings for FCEL's Research & Development are $7.0 million (Q1 2026), $5.5 million (Q4 2025), and $7.6 million (Q3 2025).