FuelCell Energy Inc. (NASDAQ: FCEL) reported second quarter fiscal 2026 results on June 8, 2026, showing revenue of $35.6 million, down 5% from the prior year quarter's $37.4 million.

The company's backlog decreased to $1.14 billion as of April 30, 2026, compared to $1.26 billion a year earlier, representing a 9.9% decline. However, the sales pipeline expanded significantly to 4 gigawatts in the second quarter, marking a 267% increase from the first quarter of fiscal 2026.

Net loss attributable to common stockholders was $78.7 million, or $1.45 per share, compared to $38.8 million, or $1.79 per share, in the prior year period. The increased loss was primarily driven by a $42.6 million impairment expense related to equipment upgrades at the company's Groton Project.

FuelCell Energy announced plans to expand its Torrington, Connecticut manufacturing facility to support an annualized production rate of up to 500 MW, increased from the previously planned 350 MW capacity. The company estimates the expansion will cost between $200 million and $275 million over the next 24 months.

During the quarter, the company introduced a standardized 12.5 MW FuelCell Energy Block designed for data center applications. This product aims to address grid bottlenecks and enable faster deployment of power solutions in constrained markets.

The company sold approximately 10.9 million shares under its Open Market Sale Agreement during the quarter at an average price of $9.45 per share, generating net proceeds of approximately $100.4 million. Cash and cash equivalents totaled $440.9 million as of April 30, 2026.

FuelCell Energy also shipped its first two carbon capture modules to Rotterdam, Netherlands, as part of a collaboration with ExxonMobil Technology and Engineering Company.