FuelCell Energy Reports Fourth Quarter and Full Fiscal Year 2023 Results
DANBURY, Conn., Dec. 19, 2023 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) -- a global leader in decarbonizing power and producing hydrogen through its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy -- today reported financial results for its fourth quarter and fiscal year ended October 31, 2023.
- Operating expenses for the fourth quarter of fiscal 2023 increased to $34.9 million from $27.5 million in the fourth quarter of fiscal 2022.
- Research and development expenses increased to $18.0 million during the fourth quarter of fiscal 2023 compared to $12.2 million in the fourth quarter of fiscal 2022.
- Net loss was $29.5 million in fourth quarter of fiscal 2023, compared to net loss of $42.0 million in the fourth quarter of fiscal 2022.
- Adjusted EBITDA totaled $(30.8) million in the fourth quarter of fiscal 2023, compared to Adjusted EBITDA of $(36.1) million in the fourth quarter of fiscal 2022.