Fuelcell Energy, Inc. · NASDAQ:FCEL
Fuelcell Energy — Q1 2025 Earnings Presentation
21 slides from Fuelcell Energy's earnings presentation, Mar 11, 2025
Slide 1: First Quarter of Fiscal Year 2025 Financial Results & Business Update
First Quarter of Fiscal Year 2025 Financial Results & Business Update
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 regarding future events or our future financial performance that involve certain contingencies and uncertainties. The f
Slide 3: FuelCell Energy Snapshot
FuelCell Energy Snapshot FuelCell Energy is a clean technology and manufacturing company dedicated to improving energy efficiency, resilience and security with low-to-zero carbon solutions. Who we are A global leader in electrochemical technology 1,2 U.S. patents and Patents and patents 208 patents
Slide 4: Key Messages
Key Messages Strategic announcements subsequent to quarter end: 1 Planned Partnership with Diversified Energy for large- scale deployment of carbonate fuel cells for datacenter applications and joint development agreement with MMHE for co-development of large-scale electrolyzers Announced in January
Slide 5: Powerhouse Business Strategy
Powerhouse Business Strategy Focus Scale Innovate Significant Market Our Existing Platform to For the Future Opportunities Support Growth • Streamline business • Invest in commercialization • Continue product innovations, operations including carbon capture and carbon recovery • Extend process leade
Slide 6: Operational Update
Operational Update © 2025 FuelCell Energy 6
Slide 7: Collaboration to Power Data Centers Using Coal Methane
Collaboration to Power Data Centers Using Coal Methane Diversified Energy, FuelCell Energy, and TESIAC announced a strategic partnership intended to address the urgent energy needs of data centers by supplying as much as 360 megawatts of electricity to locations in Virginia, West Virginia and Kentuc
Slide 8: Accelerated Data Center Deployment
Accelerated Data Center Deployment Info Graphic © 2025 FuelCell Energy 8
Slide 9: Malaysia Marine and Heavy Engineering (MMHE) JDA
Malaysia Marine and Heavy Engineering (MMHE) JDA Collaboration to co-develop large-scale H2 production systems and technologies across Asia, New Zealand, and Australia Collaboration to support a Detailed Feasibility Study • Low-carbon fuel production facility to use SOEC technology with carbon dioxi
Slide 10: Development and Operational Updates
Development and Operational Updates Product Development Commercial Deployment Carbon Capture module in Torrington, CT being prepared for shipment to Rotterdam • Carbon capture: Module production US for the carbon capture and storage project at the Port of Rotterdam is • Microgrid biogas project deli
Slide 11: Financial Update
Financial Update © 2025 FuelCell Energy 11
Slide 12: Q1 Fiscal 2025 Financial Performance
Q1 Fiscal 2025 Financial Performance (Amounts in millions, except per share amounts) Q1 2025 Q1 2024 Total revenue $19.0 $16.7 Loss from Operations $(32.9) $(42.5) Net loss attributable to common $(29.1) $(20.6) stockholders Net loss per share attributable to common stockholders 2 $(1.42) $(1.37) 2
Slide 13: Q1 Fiscal 2025 Financial Performance and Backlog
Q1 Fiscal 2025 Financial Performance and Backlog Gross Loss and Operating Expenses ($M) Revenue Breakdown ($M) Q1 2025 Total Revenue: $19.0 million $(5.2) $(11.7) $5.7 0% $0.1 30% $1.8 10% $(27.6) $(30.8) Q1 2024 Q1 2025 Gross Loss Operating Expenses Backlog ($B) 60% $1.31 $0.11 $11.3 $0.03 $1.03 Pr
Slide 14: Cash and Liquidity
Cash and Liquidity Liquidity to fund projects in development and commercialization activities Our liquidity position has enabled us to execute on our strategic Cash and Equivalents & Short- initiatives through investment in manufacturing and R&D Term Treasury Securities ($M) • $270.7M in total cash
Slide 15: Thank you
Thank you © 2025 FuelCell Energy 15
Slide 16: Appendix
Appendix © 2025 FuelCell Energy 16
Slide 17: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation The following table calculates EBITDA and Adjusted EBITDA and reconciles these figures to the GAAP financial statement measure Net loss Three Months Ended January 31, (Amounts in thousands) 2025 2024 Net loss $ (32,386) $ (44,399) Depreciation and amortization (1) 9,9
Slide 18: Global Restructuring Plan
Global Restructuring Plan Focusing Core Technologies on Distributed Power Generation, Grid Resiliency, and Data Center Growth Realigning resources toward advancing core technologies • Prioritizing commercially available technologies to reflect changing market opportunities with an updated strategic
Slide 19: FY25 Investment Targets
FY25 Investment Targets Capital Expenditures Expand manufacturing capacity $47.7 Target Range: $20M to $25M $39.3 • Calgary, Canada $21.1 $20-$25 $6.4 • Continued solid oxide production capacity expansion • Torrington, CT FY2021 FY2022 FY2023 FY2024 FY2025E • Completion of carbon recovery test unit
Slide 20: Service Business Profile for Module Replacement
Service Business Profile for Module Replacement Completed a multi-year fleet Size of Module Est. Date of Next Projects with LTSA Restack upgrade Plant (MW) Quantity Module Restack • Replaced ~30 MW of modules Pepperidge Farm - 1 1.4* 1 Q2-2025 over the past 3 years in our United Illuminating - New H
Slide 21: FuelCell Energy Owned U.S. Operating Portfolio Overview
FuelCell Energy Owned U.S. Operating Portfolio Overview On-Balance Sheet Generation Operating Portfolio as of January 31, 2025 Rated Capacity(1) Actual Commercial PPA Term Project Name Power Off-Taker Location (MW) Operation Date (2) (Years) Central CT State University (”CCSU”) CCSU (CT University)