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The company’s service agreements and license revenues rose 102% year-over-year to $14.3 million in the quarter. Moreover, its net loss came in at $12 million compared to $15.3 million in the year-ago quarter, due primarily to a higher gross margin and lower interest expenses.
However, the stock has declined 58.3% over the past six months and 41.4% year-to-date. FCEL’s declining backlog and the stock’s lofty valuation remain concerns. Although its increased investments in distributed hydrogen and long-duration energy storage should expand its portfolio of solutions, the company has been burning cash when its losses and expenses are already significantly high.
