FuelCell Energy Files 2024 10-K

TL;DR

FCEL 2024 10-K is in: $165M assets, $140M liabilities. FY ended Oct 31.

AI Summary

FuelCell Energy, Inc. filed its 10-K for the fiscal year ending October 31, 2024, reporting total assets of $165.05 million and total liabilities of $139.92 million. The company's fiscal year concluded on October 31, 2024, with its filing submitted on December 27, 2024. Key financial figures include $7.83 million in non-current other assets and $7.92 million in non-current other liabilities.

Why It Matters

This filing provides a comprehensive overview of FuelCell Energy's financial health and operational status for the fiscal year 2024, crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — FuelCell Energy operates in a capital-intensive and competitive industry, facing risks related to technological development, market adoption, and regulatory changes.

Key Numbers

• $165.05M — Total Assets (As of October 31, 2024)
• $139.92M — Total Liabilities (As of October 31, 2024)
• $7.83M — Non-current Other Assets (As of October 31, 2024)
• $7.92M — Non-current Other Liabilities (As of October 31, 2024)
• 2024-10-31 — Fiscal Year End (Reporting period)

Key Players & Entities

• FUELCELL ENERGY INC (company) — Filer
• 20241031 (date) — Fiscal Year End
• 20241227 (date) — Filing Date
• $165.05 million (dollar_amount) — Total Assets
• $139.92 million (dollar_amount) — Total Liabilities
• $7.83 million (dollar_amount) — Non-current Other Assets
• $7.92 million (dollar_amount) — Non-current Other Liabilities

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share FCEL The Nasdaq
• $27.84 — ,599 based on the closing sale price of $27.84 as reported on the NASDAQ Global Market

Filing Documents

• fcel-20241031x10k.htm (10-K) — 3613KB
• fcel-20241031xex4d1.htm (EX-4.1) — 45KB
• fcel-20241031xex10d97.htm (EX-10.97) — 59KB
• fcel-20241031xex10d98.htm (EX-10.98) — 75KB
• fcel-20241031xex19.htm (EX-19) — 171KB
• fcel-20241031xex21.htm (EX-21) — 25KB
• fcel-20241031xex23d1.htm (EX-23.1) — 3KB
• fcel-20241031xex31d1.htm (EX-31.1) — 13KB
• fcel-20241031xex31d2.htm (EX-31.2) — 11KB
• fcel-20241031xex32d1.htm (EX-32.1) — 6KB
• fcel-20241031xex32d2.htm (EX-32.2) — 6KB
• fcel-20241031x10k003.jpg (GRAPHIC) — 6KB
• fcel-20241031x10k008.jpg (GRAPHIC) — 55KB
• fcel-20241031xex10d97001.jpg (GRAPHIC) — 6KB
• fcel-20241031xex19001.jpg (GRAPHIC) — 11KB
• 0001558370-24-016497.txt ( ) — 14845KB
• fcel-20241031.xsd (EX-101.SCH) — 131KB
• fcel-20241031_cal.xml (EX-101.CAL) — 99KB
• fcel-20241031_def.xml (EX-101.DEF) — 429KB
• fcel-20241031_lab.xml (EX-101.LAB) — 931KB
• fcel-20241031_pre.xml (EX-101.PRE) — 689KB
• fcel-20241031x10k_htm.xml (XML) — 2124KB

Risk Factors

Item 1A Risk Factors 27

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 44

Cybersecurity

Item 1C Cybersecurity 44

Properties

Item 2 Properties 46

Legal Proceedings

Item 3 Legal Proceedings 46

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 46 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 47

Reserved

Item 6 Reserved 49

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 50

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 76

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 78

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 130

Controls and Procedures

Item 9A Controls and Procedures 130

Other Information

Item 9B Other Information 131

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 131 Part III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 132

Executive Compensation

Item 11 Executive Compensation 132

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 132

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence 133

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 133 Part IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 134

Form 10-K Summary

Item 16 Form 10-K Summary 143

Signatures

Signatures 144 2 Table of Contents PART I

BUSINESS

Item 1. BUSINESS Index to Item 1. BUSINESS Page Forward-Looking Statement Disclaimer 4 Risk Factor Summary 6 General Information 8 Business Overview 9 Our Market Opportunity 9 Our Business Strategy 10 Our Business Model and Competitive Advantages 11 Product Platforms and Applications 12 Our Product Platform Applications – Current and Future 13 Our Markets 14 Levelized Cost of Energy 15 Competition 15 Our Commitment to Sustainability 16 Advanced Technologies Programs 17 License and Joint Development Agreements with EMTEC 17 Company Funded Research and Development 19 Proprietary Rights and Licensed Technology 19 Manufacturing and Service Facilities 20 Raw Material Sourcing and Supplier Relationships 21 Engineering, Procurement and Construction 22 Services and Warranty Agreements 22 Significant Developments in Government Activity 22 Government Regulation 23 Significant Customers 23 People and Organizational Development 23 Available Information 24 3 Table of Contents Forward-Looking Statement Disclaimer This Annual Report on Form 10-K contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). All statements other than statements of historical fact included in this Form 10-K, including statements regarding the Company's future financial condition, results of operations, plans, objectives, expectations, future performance, business operations and business prospects, are forward-looking statements. Words such as "expects," "anticipates," "estimates," "goals," "projects," "intends," "plans," "believes," "predicts," "should," "seeks," "will," "could," "would," "may," "forecast," and similar expressions and variations of such words are intended to identify forward-looking statements and are included, along with this statement, for purposes of complying with the safe harbor provi

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View this 10-K filing on SEC EDGAR