Summary by Moomoo AI
On March 7, 2024, FuelCell Energy, Inc. reported its financial results for the first quarter of fiscal year 2024, which ended on January 31, 2024. The company, a global leader in fuel cell technology and clean energy solutions, announced revenues of $16.7 million, a significant decrease from $37.1 million in the same quarter of the previous year. The gross loss for the quarter was reported at $11.7 million, compared to a gross profit of $5.2 million in the prior year. The loss from operations widened to $42.5 million from $22.5 million, and the net loss per share remained unchanged at $(0.05). The company attributed the lower revenues to the absence of module exchanges during the quarter and the completion of a multi-year fleet upgrade in the previous fiscal year. Despite the...Show More