FUELCELL ENERGY $FCEL Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $33.0M (Est. $41.3M) 🔴; -29% YoY 🔹 Adj. EPS: -$0.64 (Est. -$0.41) 🔴 🔹 Committed Backlog: $1.3B; +4.1% YoY 🔹 Committed + Awarded Backlog: $3.6B 🔸 Signs first data center power agreement (75 MW) Segment Revenue: 🔹 Product: $18.0M 🔹 Generation: $8.8M 🔹 Advanced Technologies: $3.8M 🔹 Service: $2.4M Other Q3 Metrics: 🔹 Gross Loss: -$24.5M; +377% YoY 🔹 Adjusted EBITDA: -$36.7M; +124% YoY 🔹 Loss from Operations: -$46.7M; -51% YoY 🔹 Net Loss: -$45.3M; -51% YoY 🔹 Cash & Restricted Cash: $737.3M Targets: 🔹 Annualized Production Rate: 100 MW by Oct 2026 🔹 Positive Adjusted EBITDA: targeted Q4 FY27 🔹 Torrington Capacity: 500 MW by June 2028 Key Updates: 🔸 First data center power deal (post-quarter): Capacity Reservation Agreement with a major data center operator for a planned 75 MW project in Texas (six 12.5 MW units), supported by an upfront reservation payment 🔸 Fit Energy CEPA: up to 380 MW across four phases for data center baseload power; Phase 0 (30 MW) deliveries begin Q4 FY26; the $2.4B added to Awarded Capacity Backlog covers Fit Energy’s option on a further 350 MW — not contracted, outside Committed Backlog 🔸 Gross loss widened on inventory and purchase-commitment charges tied to Phase 0 of the CEPA — costs at the current ~37.1 MW annualized production rate exceed CEPA pricing 🔸 Cash rose to $737.3M ($658.1M unrestricted) after the July offering at $21.00/share and ATM sales at a $13.31 average ($52.9M net) 🔸 Siemens MOU for faster, lower-cost 100+ MW projects; first two carbon capture modules delivered to ExxonMobil