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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q3 FY262026-07-31 | Q2 FY262026-04-30 | Q1 FY262026-01-31 | Q4 FY252025-10-31 | Q3 FY252025-07-31 | Q2 FY252025-04-30 | Q1 FY252025-01-31 | Q4 FY242024-10-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $33.00M | $35.59M | $30.53M | $55.02M | $46.74M | $37.41M | $19.00M | $49.33M |
| Cost of revenue | $57.50M | $48.52M | $36.39M | $61.65M | $51.88M | $46.84M | $24.20M | $60.24M |
| Gross profit | −$24.50M | −$12.93M | −$5.86M | −$6.63M | −$5.13M | −$9.44M | −$5.20M | −$10.92M |
| Gross margin | -74.2% | -36.3% | -19.2% | -12.1% | -11.0% | -25.2% | -27.4% | -22.1% |
| Research and development | $8.51M | $7.71M | $6.96M | $5.46M | $7.65M | $9.90M | $11.08M | $11.61M |
| Selling, general and administrative | $13.65M | $14.71M | $13.47M | $15.18M | $14.07M | $16.47M | $15.03M | $15.95M |
| Operating expenses | $22.16M | $64.98M | $20.43M | $21.69M | $90.23M | $26.37M | $27.65M | $30.12M |
| Operating income | −$46.66M | −$77.91M | −$26.29M | −$28.32M | −$95.36M | −$35.81M | −$32.85M | −$41.03M |
| Operating margin | -141.4% | -218.9% | -86.1% | -51.5% | -204.0% | -95.7% | -172.9% | -83.2% |
| EBITDA | −$37.27M | −$24.50M | −$15.77M | −$17.45M | −$17.10M | −$24.91M | −$21.37M | −$29.67M |
| Interest income | $3.57M | $2.49M | $2.53M | $1.96M | $2.14M | $1.83M | $2.39M | $2.99M |
| Interest expense | −$2.90M | −$2.86M | −$2.76M | −$2.68M | −$2.55M | −$2.55M | −$2.61M | −$2.52M |
| Income before taxes | −$45.28M | −$77.68M | −$26.05M | −$29.33M | −$91.86M | −$37.67M | −$32.39M | −$39.58M |
| Income taxes | $0 | −$50.00K | $0 | $13.00K | $40.00K | $84.00K | $0 | $23.00K |
| Net income | −$45.28M | −$77.63M | −$26.05M | −$29.34M | −$91.90M | −$37.75M | −$32.39M | −$39.60M |
| Net margin | -137.2% | -218.1% | -85.3% | -53.3% | -196.6% | -100.9% | -170.5% | -80.3% |
| EPS, basic | −$0.64 | −$1.45 | −$0.49 | −$0.20 | −$3.78 | −$1.79 | −$1.42 | −$2.27 |
| EPS, diluted | −$0.64 | −$1.45 | −$0.49 | −$0.20 | −$3.78 | −$1.79 | −$1.42 | −$2.27 |
| Diluted shares | 70.41M | 54.22M | 48.21M | 25.74M | 24.44M | 21.74M | 20.50M | 16.51M |
Figures describe FuelCell Energy shares, not any token. As of Sep 2, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.