10-Q Filing

FUELCELL ENERGY INC CIK: 886128 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-006637`
Period End Date	20190131
Filing Date	20190307
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	fcel-20190131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 30 Cash Flow Statement 70 Comprehensive Income 6

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents, unrestricted	`CashAndCashEquivalentsAtCarryingValue`	$27.75M	USD	Point-in-time
Cash and cash equivalents, unrestricted	`CashAndCashEquivalentsAtCarryingValue`	$39.29M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	225.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	225.00M	shares	Point-in-time
Restricted cash and cash equivalents - short-term	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$5.81M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	95.67M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	108.42M	shares	Point-in-time
Restricted cash and cash equivalents - short-term	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$5.60M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	108.42M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.32M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.28M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	95.67M	shares	Point-in-time
Unbilled receivables	`UnbilledReceivablesCurrent`	$12.39M	USD	Point-in-time
Unbilled receivables	`UnbilledReceivablesCurrent`	$13.76M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	156,501.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	156,501.00	shares	Point-in-time
Inventories	`InventoryNet`	$54.80M	USD	Point-in-time
Inventories	`InventoryNet`	$53.58M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.27M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.59M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$130.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$117.13M	USD	Point-in-time
Restricted cash and cash equivalents - long-term	`RestrictedCashAndCashEquivalentsNoncurrent`	$35.14M	USD	Point-in-time
Restricted cash and cash equivalents - long-term	`RestrictedCashAndCashEquivalentsNoncurrent`	$34.86M	USD	Point-in-time
Project assets	`LongTermProjectAssets`	$109.82M	USD	Point-in-time
Project assets	`LongTermProjectAssets`	$99.60M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$47.41M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$48.20M	USD	Point-in-time
Goodwill	`Goodwill`	$4.08M	USD	Point-in-time
Goodwill	`Goodwill`	$4.08M	USD	Point-in-time
Intangible asset	`IntangibleAssetsNetExcludingGoodwill`	$9.59M	USD	Point-in-time
Intangible asset	`IntangibleAssetsNetExcludingGoodwill`	$9.59M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$23.07M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$13.51M	USD	Point-in-time
Total assets	`Assets`	$340.42M	USD	Point-in-time
Total assets	`Assets`	$345.95M	USD	Point-in-time
Current portion of long-term debt	`DebtCurrent`	$17.60M	USD	Point-in-time
Current portion of long-term debt	`DebtCurrent`	$38.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$22.59M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$11.05M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$7.63M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$11.35M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$17.21M	USD	Point-in-time
Preferred stock obligation of subsidiary	`PreferredStockObligationOfSubsidiaryCurrent`	$952.00K	USD	Point-in-time
Preferred stock obligation of subsidiary	`PreferredStockObligationOfSubsidiaryCurrent`	$951.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$87.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$60.12M	USD	Point-in-time
Long-term deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$22.77M	USD	Point-in-time
Long-term deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$16.79M	USD	Point-in-time
Long-term preferred stock obligation of subsidiary	`PreferredStockObligationOfSubsidiaryNonCurrent`	$14.96M	USD	Point-in-time
Long-term preferred stock obligation of subsidiary	`PreferredStockObligationOfSubsidiaryNonCurrent`	$15.28M	USD	Point-in-time
Long-term debt and other liabilities	`OtherLiabilitiesNoncurrent`	$66.88M	USD	Point-in-time
Long-term debt and other liabilities	`OtherLiabilitiesNoncurrent`	$71.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$163.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$192.92M	USD	Point-in-time
Common stock ($0.0001 par value); 225,000,000 shares authorized as of January 31, 2019 and October 31, 2018; 108,415,259 and 95,672,237 shares issued and outstanding as of January 31, 2019 and October 31, 2018, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Common stock ($0.0001 par value); 225,000,000 shares authorized as of January 31, 2019 and October 31, 2018; 108,415,259 and 95,672,237 shares issued and outstanding as of January 31, 2019 and October 31, 2018, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.07B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.07B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-990.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.02B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-403.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-396.00K	USD	Point-in-time
Treasury stock, Common, at cost (156,501 shares as of January 31, 2019 and October 31, 2018)	`TreasuryStockValue`	$363.00K	USD	Point-in-time
Treasury stock, Common, at cost (156,501 shares as of January 31, 2019 and October 31, 2018)	`TreasuryStockValue`	$363.00K	USD	Point-in-time
Deferred compensation	`TreasuryStockDeferredEmployeeStockOwnershipPlan`	$363.00K	USD	Point-in-time
Deferred compensation	`TreasuryStockDeferredEmployeeStockOwnershipPlan`	$363.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$58.85M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$82.19M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$345.95M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$340.42M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$17.78M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$38.61M	USD	1 Quarter
Costs of revenues	`CostOfGoodsAndServicesSold`	$33.98M	USD	1 Quarter
Costs of revenues	`CostOfGoodsAndServicesSold`	$19.99M	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$4.63M	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$-2.21M	USD	1 Quarter
Administrative and selling expenses	`SellingGeneralAndAdministrativeExpense`	$6.76M	USD	1 Quarter
Administrative and selling expenses	`SellingGeneralAndAdministrativeExpense`	$6.14M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$6.28M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$4.05M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$10.19M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$13.04M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.55M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-15.24M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.14M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.46M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$476.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$160.00K	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-17.55M	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.22M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-3.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.18M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.55M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-8.45M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-33.04M	USD	1 Quarter
Net loss per share attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Net loss per share attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	72.02M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99.86M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-4.18M	USD	1 Quarter
Net loss	`ProfitLoss`	$-17.55M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$617.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$982.00K	USD	1 Quarter
Loss from change in fair value of embedded derivatives	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	$-55.00K	USD	1 Quarter
Loss from change in fair value of embedded derivatives	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	$-22.00K	USD	1 Quarter
Depreciation	`DepreciationIncludePropertyPlantAndEquipmentAndProjectAssets`	$2.20M	USD	1 Quarter
Depreciation	`DepreciationIncludePropertyPlantAndEquipmentAndProjectAssets`	$2.13M	USD	1 Quarter
Non-cash interest expense on preferred stock and debt obligations	`AmortizationOfBondPremium`	$1.49M	USD	1 Quarter
Non-cash interest expense on preferred stock and debt obligations	`AmortizationOfBondPremium`	$1.57M	USD	1 Quarter
Unrealized foreign exchange (gains) losses	`ForeignCurrencyTransactionGainLossUnrealized`	$12.00K	USD	1 Quarter
Unrealized foreign exchange (gains) losses	`ForeignCurrencyTransactionGainLossUnrealized`	$-534.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.04M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Other non-cash transactions, net	`OtherNoncashIncomeExpense`	$-187.00K	USD	1 Quarter
Other non-cash transactions, net	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.33M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-26.28M	USD	1 Quarter
Unbilled receivables	`IncreaseDecreaseInContractWithCustomerUnbilledReceivables`	$-344.00K	USD	1 Quarter
Unbilled receivables	`IncreaseDecreaseInContractWithCustomerUnbilledReceivables`	$7.83M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.23M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-14.78M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.11M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-139.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.90M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-152.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.07M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.53M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$5.84M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$1.91M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.96M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$40.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.59M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.82M	USD	1 Quarter
Project asset expenditures	`InvestmentInLongTermProjectAssets`	$4.58M	USD	1 Quarter
Project asset expenditures	`InvestmentInLongTermProjectAssets`	$12.63M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.22M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.39M	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	$6.25M	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	$1.61M	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfDebt`	$17.25M	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfDebt`	-	USD	1 Quarter
Payment of deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Payment of deferred financing costs	`PaymentsOfFinancingCosts`	$485.00K	USD	1 Quarter
Payment of preferred dividends and return of capital	`PaymentOfPreferredDividendsAndReturnOfCapital`	$1.05M	USD	1 Quarter
Payment of preferred dividends and return of capital	`PaymentOfPreferredDividendsAndReturnOfCapital`	$1.04M	USD	1 Quarter
Common stock issued for stock plans and related expenses	`ProceedsfromIssuanceofCommonStockIssuedforStockPlansandRelatedExpenses`	-	USD	1 Quarter
Common stock issued for stock plans and related expenses	`ProceedsfromIssuanceofCommonStockIssuedforStockPlansandRelatedExpenses`	$31.00K	USD	1 Quarter
Proceeds from sale of common stock and warrant exercises, net	`ProceedsFromSaleOfCommonStockAndWarrantExercisesNet`	-	USD	1 Quarter
Proceeds from sale of common stock and warrant exercises, net	`ProceedsFromSaleOfCommonStockAndWarrantExercisesNet`	$2.65M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.65M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.15M	USD	1 Quarter
Effects on cash from changes in foreign currency rates	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$33.00K	USD	1 Quarter
Effects on cash from changes in foreign currency rates	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$7.00K	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$27.98M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-12.03M	USD	1 Quarter
Cash, cash equivalents and restricted cash-beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$115.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash-beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$87.45M	USD	Point-in-time
Cash, cash equivalents and restricted cash-beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.21M	USD	Point-in-time
Cash, cash equivalents and restricted cash-beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.24M	USD	Point-in-time
Cash, cash equivalents and restricted cash-end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$115.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash-end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$87.45M	USD	Point-in-time
Cash, cash equivalents and restricted cash-end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.21M	USD	Point-in-time
Cash, cash equivalents and restricted cash-end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.24M	USD	Point-in-time
Cash interest paid	`InterestPaidNet`	$651.00K	USD	1 Quarter
Cash interest paid	`InterestPaidNet`	$827.00K	USD	1 Quarter
Accrued purchase of fixed assets, cash paid in subsequent period	`AccruedPurchaseOfFixedAssets`	$1.23M	USD	1 Quarter
Accrued purchase of fixed assets, cash paid in subsequent period	`AccruedPurchaseOfFixedAssets`	$107.00K	USD	1 Quarter
Accrued purchase of project assets, cash paid in subsequent period	`AccruedPurchaseOfProjectAssets`	$2.05M	USD	1 Quarter
Accrued purchase of project assets, cash paid in subsequent period	`AccruedPurchaseOfProjectAssets`	$1.75M	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.18M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.55M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$33.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$7.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-17.54M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.15M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.