FuelCell Energy Inc (NASDAQ:FCEL) reported a significant revenue decline of 55% YoY in Q1 fiscal 2024, with revenues falling to $16.69 million, missing the consensus estimate of $23.82 million. The company experienced a gross loss of $11.7 million, a stark contrast to the previous year's gross profit of $5.2 million, and an expanded operating loss of $42.5 million. Despite these challenges, FCEL maintains a positive outlook, citing an increase in operational generation assets and expected product sales. The company's backlog decreased slightly to $1.03 billion, and shares dropped by 6.6% to $1.14.