FuelCell Energy (FCEL) 10-Q10 Mar 222022 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jan. 31, 2022	Mar. 08, 2022
Cover [Abstract]
Entity Registrant Name	FUELCELL ENERGY, INC.
Entity Central Index Key	0000886128
Document Type	10-Q
Document Period End Date	Jan. 31, 2022
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Trading Symbol	FCEL
Title of 12(b) Security	Common stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Current Fiscal Year End Date	--10-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	1-14204
Entity Tax Identification Number	06-0853042
Entity Common Stock, Shares Outstanding		366,687,765
Entity Address, State or Province	CT
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Address, Address Line One	3 Great Pasture Road
Entity Address, City or Town	Danbury
Entity Address, Postal Zip Code	06810
City Area Code	203
Local Phone Number	825-6000
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Jan. 31, 2022	Oct. 31, 2021
Current assets:
Cash and cash equivalents, unrestricted		$ 376,963	$ 432,213
Restricted cash and cash equivalents - short-term	[1]	12,643	11,268
Accounts receivable, net		30,702	14,730
Unbilled receivables		13,558	8,924
Inventories		65,386	67,074
Other current assets		9,764	9,177
Total current assets		509,016	543,386
Restricted cash and cash equivalents - long-term		15,825	16,731
Inventories - long-term	[2]	4,586	4,586
Project assets		235,602	223,277
Property, plant and equipment, net		41,124	39,416
Operating lease right-of-use assets, net		7,877	8,109
Goodwill		4,075	4,075
Intangible assets, net		18,346	18,670
Other assets		18,240	16,998
Total assets	[3]	854,691	875,248
Current liabilities:
Current portion of long-term debt		9,722	10,085
Current portion of operating lease liabilities		1,013	1,032
Accounts payable		22,300	19,267
Accrued liabilities		25,988	16,099
Deferred revenue		16,237	6,287
Total current liabilities		75,260	52,770
Long-term deferred revenue and customer deposits		18,277	30,427
Long-term operating lease liabilities		7,821	8,093
Long-term debt and other liabilities		81,290	78,633
Total liabilities	[3]	182,648	169,923
Redeemable noncontrolling interests		15,449	3,030
Stockholders' equity:
Common stock ($0.0001 par value); 500,000,000 shares authorized as of January 31, 2022 and October 31, 2021; 366,686,186 and 366,618,693 shares issued and outstanding as of January 31, 2022 and October 31, 2021, respectively		37	37
Additional paid-in capital		1,908,981	1,908,471
Accumulated deficit		(1,305,875)	(1,265,251)
Accumulated other comprehensive loss		(910)	(819)
Treasury stock, Common, at cost (86,662 and 73,430 shares as of January 31, 2022 and October 31, 2021, respectively)		(650)	(586)
Deferred compensation		650	586
Total stockholder's equity		602,233	642,438
Noncontrolling interests		(5,496)
Total equity		596,737	642,438
Total liabilities, redeemable noncontrolling interests and stockholders' equity		854,691	875,248
Series B Preferred Stock
Current liabilities:
Redeemable Series B preferred stock (liquidation preference of $64,020 as of January 31, 2022 and October 31, 2021)		$ 59,857	$ 59,857

[1]	Short-term restricted cash and cash equivalents are amounts expected to be released and categorized as unrestricted cash within twelve months of the balance sheet date.
[2]	Long-term inventory includes modules that are contractually required to be segregated for use as exchange modules for specific project assets.
[3]	January 31,

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands		Jan. 31, 2022	Oct. 31, 2021
Common stock, par value		$ 0.0001	$ 0.0001
Common stock, shares authorized		500,000,000	500,000,000
Common stock, shares issued		366,686,186	366,618,693
Common stock, shares outstanding		366,686,186	366,618,693
Treasury stock, shares		86,662	73,430
Assets	[1]	$ 854,691	$ 875,248
Cash		376,963	432,213
Accounts receivable, net		30,702	14,730
Operating lease right-of-use assets, net		7,877	8,109
Project assets		235,602	223,277
Current portion of operating lease liabilities		1,013	1,032
Accrued liabilities		25,988	16,099
Long-term operating lease liabilities		7,821	8,093
Total liabilities	[1]	182,648	169,923
Variable interest entity ("VIE")
Assets		114,133	54,375
Cash		5,167	1,364
Accounts receivable, net		597
Operating lease right-of-use assets, net		1,192
Project assets		100,832	53,012
Current portion of operating lease liabilities		142
Accrued liabilities		159
Long-term operating lease liabilities		1,458
Total liabilities			0
Series B Preferred Stock
Preferred Stock, Liquidation Preference, Value		$ 64,020	$ 64,020

[1]	January 31,

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended
		Jan. 31, 2022	Jan. 31, 2021
Revenues:
Revenues		$ 31,795	$ 14,877
Costs of revenues:
Costs of revenues		34,690	18,495
Gross loss		(2,895)	(3,618)
Operating expenses:
Administrative and selling expenses		36,965	8,932
Research and development expenses		4,984	1,823
Total costs and expenses		41,949	10,755
Loss from operations		(44,844)	(14,373)
Interest expense		(1,428)	(2,545)
Change in fair value of common stock warrant liability			(15,974)
Loss on extinguishment of debt			(11,156)
Loss on extinguishment of preferred stock obligation of subsidiary			(934)
Other income (expense), net		152	(978)
Loss before provision for income taxes		(46,120)	(45,960)
Net loss		(46,120)	(45,960)
Net loss attributable to redeemable noncontrolling interest		(5,496)
Net loss attributable to FuelCell Energy, Inc.		(40,624)	(45,960)
Series B preferred stock dividends		(800)	(800)
Net loss attributable to common stockholders		$ (41,424)	$ (46,760)
Loss per share basic and diluted:
Net loss per share attributable to common stockholders, basic		$ (0.11)	$ (0.15)
Net loss per share attributable to common stockholders, diluted	[1]	$ (0.11)	$ (0.15)
Basic weighted average shares outstanding		366,734,739	312,109,888
Diluted weighted average shares outstanding		366,734,739	312,109,888
Series B Preferred Stock
Operating expenses:
Series B preferred stock dividends		$ (800)	$ (800)
Product
Revenues:
Revenues		18,000
Costs of revenues:
Costs of revenues		18,207	2,366
Service
Revenues:
Revenues		2,167	4,913
Costs of revenues:
Costs of revenues		2,372	5,099
Generation
Revenues:
Revenues		7,496	4,891
Costs of revenues:
Costs of revenues		10,722	7,115
Advanced Technologies
Revenues:
Revenues		4,132	5,073
Costs of revenues:
Costs of revenues		$ 3,389	$ 3,915

[1]	Due to the net loss to common stockholders in each of the periods presented above, diluted loss per share was computed without consideration to potentially dilutive instruments as their inclusion would have been anti-dilutive.

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Consolidated Statement of Comprehensive Loss
Net loss	$ (46,120)	$ (45,960)
Foreign currency translation adjustments	(91)	58
Total comprehensive loss	(46,211)	(45,902)
Comprehensive loss attributable to redeemable noncontrolling interest	(5,496)
Comprehensive loss attributable to FuelCell Energy, Inc.	$ (40,715)	$ (45,902)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total Stockholder's Equity [Member]	Common Stock	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Deferred Compensation [Member]	Noncontrolling Interests [Member]	Series B Preferred Stock	Total
Beginning Balance at Oct. 31, 2020	$ 194,548	$ 29	$ 1,359,454	$ (1,164,196)	$ (739)	$ (432)	$ 432			$ 194,548
Beginning Balance at (in shares) at Oct. 31, 2020		294,706,758
Sale of common stock, net of fees	156,366	$ 3	156,363							156,366
Sale of common stock, net of fees (in shares)		25,000,000
Orion warrant exercises and other warrant exercises	21,824		21,824							21,824
Orion warrant exercises and other warrant exercises (in shares)		2,700,000
Common stock issued, non-employee compensation	45		45							45
Common stock issued, non-employee compensation, (in shares)		2,734
Share based compensation	1,417		1,417							1,417
Stock issued under benefit plans, net of taxes paid upon vesting of restricted stock awards	8		8							8
Stock issued under benefit plans, net of taxes paid upon vesting of restricted stock awards (shares)		4,521
Preferred dividends - Series B	(800)		(800)						$ (800)	(800)
Effect of foreign currency translation	58				58					58
Adjustment for deferred compensation						(30)	30
Adjustment for deferred compensation (in shares)		(1,669)
Release of a share reserve		(48)
Net loss	(45,960)			(45,960)						(45,960)
Ending Balance at Jan. 31, 2021	327,506	$ 32	1,538,311	(1,210,156)	(681)	(462)	462			327,506
Ending Balance at (in shares) at Jan. 31, 2021		322,412,296
Beginning Balance at Oct. 31, 2021	642,438	$ 37	1,908,471	(1,265,251)	(819)	(586)	586			$ 642,438
Beginning Balance at (in shares) at Oct. 31, 2021		366,618,693								366,618,693
Common stock issued, non-employee compensation	100		100							$ 100
Common stock issued, non-employee compensation, (in shares)		20,673
Share based compensation	1,470		1,470							1,470
Stock issued under benefit plans, net of taxes paid upon vesting of restricted stock awards	(260)		(260)							(260)
Stock issued under benefit plans, net of taxes paid upon vesting of restricted stock awards (shares)		60,052
Preferred dividends - Series B	(800)		(800)						$ (800)	(800)
Effect of foreign currency translation	(91)				(91)					(91)
Adjustment for deferred compensation						(64)	64
Adjustment for deferred compensation (in shares)		(13,232)
Net loss attributable to redeemable noncontrolling interest	5,496			5,496				$ (5,496)		5,496
Net loss	(46,120)			(46,120)						(46,120)
Ending Balance at Jan. 31, 2022	$ 602,233	$ 37	$ 1,908,981	$ (1,305,875)	$ (910)	$ (650)	$ 650	$ (5,496)		$ 596,737
Ending Balance at (in shares) at Jan. 31, 2022		366,686,186								366,686,186

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Cash flows from operating activities:
Net loss	$ (46,120)	$ (45,960)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	1,470	1,417
Depreciation and amortization	5,771	5,604
Change in fair value of common stock warrant liability		15,974
Non-cash charge for extinguishment of preferred stock obligation of subsidiary		934
Non-cash interest expense on preferred stock and debt obligations	1,066	1,566
Non-cash charge for extinguishment of debt		7,156
Operating lease costs	395	378
Operating lease payments	(372)	(284)
Impairment of property, plant and equipment	976
Unrealized foreign currency losses (gains)	(82)	848
Other non-cash transactions	(316)	628
(Increase) decrease in operating assets:
Accounts receivable	(15,972)	(458)
Unbilled receivables	(4,369)	(3,466)
Inventories	(2,529)	(8,602)
Other assets	(1,994)	(954)
(Decrease) Increase in operating liabilities:
Accounts payable	2,560	(1,887)
Accrued liabilities	10,027	(5,618)
Deferred revenue	1,735	2,407
Net cash used in operating activities	(47,754)	(30,317)
Cash flows from investing activities:
Capital expenditures	(5,331)	(204)
Project asset expenditures	(10,435)	(4,387)
Net cash used in investing activities	(15,766)	(4,591)
Cash flows from financing activities:
Repayment of debt	(2,530)	(82,292)
Common stock issued for stock plans and related expenses	26	8
Contributions received from sale of redeemable noncontrolling interest	12,419
Payments for taxes related to net share settlement of equity awards	(285)
Repayment of Series 1 Preferred Share Obligation		(21,541)
Common stock issuance, net of fees		156,363
Proceeds from sale of common stock and warrant exercises, net		654
Payment of preferred dividends and return of capital	(800)	(800)
Net cash provided by financing activities	8,830	52,392
Effects on cash from changes in foreign currency rates	(91)	58
Net (decrease) increase in cash, cash equivalents and restricted cash	(54,781)	17,542
Cash, cash equivalents and restricted cash-beginning of period	460,212	192,052
Cash, cash equivalents and restricted cash-end of period	405,431	209,594
Supplemental cash flow disclosures:
Cash interest paid and early prepayment charge	329	8,185
Noncash financing and investing activity:
Operating lease liabilities		1,336
Operating lease right-of-use assets		1,336
Noncash reclassifications from inventory to project assets	4,217	2,072
Warrant exercises		21,170
Accrued purchase of fixed assets, cash to be paid in subsequent period	1,077	47
Accrued purchase of project assets, cash to be paid in subsequent period	$ 7,640	$ 839

Nature of Business, Basis of Pr

Nature of Business, Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Jan. 31, 2022
Nature of Business, Basis of Presentation and Significant Accounting Policies
Nature of Business and Basis of Presentation	Note 1. Nature of Business and Basis of Presentation Headquartered in Danbury, Connecticut, FuelCell Energy, Inc. (together with its subsidiaries, the “Company,” “FuelCell Energy,” “we,” “us,” or “our”) has leveraged five decades of research and development to become a global leader in delivering environmentally responsible distributed baseload power platform solutions through our proprietary fuel cell technology. As an innovator and an American manufacturer of clean fuel cell power platforms, our current commercial technology delivers clean, distributed generation and distributed hydrogen, as well as heat, carbon separation and utilization, and water. We plan to increase our investment in developing and commercializing future technologies expected to deliver hydrogen and long duration hydrogen-based energy storage through our solid oxide technologies, as well as carbon capture solutions. As a leading global manufacturer of proprietary fuel cell technology platforms, we are uniquely positioned to serve customers worldwide with sustainable products and solutions for businesses, utilities, governments, and municipalities. Our solutions are designed to enable a world empowered by clean energy, enhancing the quality of life for people around the globe. We target large-scale power users with our megawatt-class installations globally, and currently offer sub-megawatt solutions for smaller power consumers in Europe. To provide a frame of reference, one megawatt is adequate to continually power approximately 1,000 average sized U.S. homes. Our customer base includes utility companies, municipalities, universities, hospitals, government entities/military bases and a variety of industrial and commercial enterprises. Our leading geographic markets are currently the United States and South Korea, and we are pursuing opportunities in other countries around the world. Our product offerings drive our mission to help our customers realize their environmental goals, strengthen resiliency, manage energy and other commodity costs, and deliver valuable goods and services to their customers. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial information. Accordingly, they do not contain all of the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of management, all normal and recurring adjustments necessary to fairly present the Company’s financial position and results of operations as of and for the three months ended January 31, 2022 and 2021 have been included. All intercompany accounts and transactions have been eliminated. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The balance sheet as of October 31, 2021 has been derived from the audited financial statements at that date, but it does not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements should be read in conjunction with the Company’s financial statements and notes thereto for the fiscal year ended October 31, 2021, which are contained in the Company’s Annual Report on Form 10-K previously filed with the SEC. The results of operations for the interim periods presented are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year. Principles of Consolidation The unaudited consolidated financial statements reflect our accounts and operations and those of our subsidiaries in which we have a controlling financial interest. We use a qualitative approach in assessing the consolidation requirement for each of our variable interest entities ("VIEs"), which are tax equity partnerships further described in Note 3. “Tax Equity Financings.” This approach focuses on determining whether we have the power to direct those activities of the tax equity partnerships that most significantly affect their economic performance and whether we have the obligation to absorb losses, or the right to receive benefits, that could potentially be significant to the tax equity partnerships. For all periods presented, we have determined that we are the primary beneficiary in all of our operational tax equity partnerships. We evaluate our relationships on an ongoing basis to ensure that we continue to be the primary beneficiary. All intercompany transactions and balances have been eliminated upon consolidation. Use of Estimates The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Estimates are used in accounting for, among other things, revenue recognition, contract loss accruals, excess, slow-moving and obsolete inventories, product warranty accruals, loss accruals on service agreements, share-based compensation expense, allowance for doubtful accounts, depreciation and amortization, impairment of goodwill and in-process research and development intangible assets, impairment of long-lived assets (including project assets), lease liabilities and right-of-use (“ROU”) assets, and contingencies. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from those estimates. Liquidity Our principal sources of cash have been sales of our common stock through public equity offerings, proceeds from third party debt, project financing and tax monetization transactions, proceeds from the sale of our projects as well as research and development and service agreements with third parties. We have utilized this cash to develop and construct project assets, perform research and development on Advanced Technologies, pay down existing outstanding indebtedness, and meet our other cash and liquidity needs. As of January 31, 2022, unrestricted cash and cash equivalents totaled $377.0 million compared to $432.2 million as of October 31, 2021. On June 11, 2021, the Company entered into an Open Market Sale Agreement with Jefferies LLC and Barclays Capital Inc. with respect to an at the market offering program under which the Company may, from time to time, offer and sell shares of the Company’s common stock having an aggregate offering price of up to $500 million. From the date of the Open Market Sale Agreement through January 31, 2022, approximately 44.1 million shares were sold, resulting in gross proceeds to the Company totaling approximately $377.2 million before deducting expenses and sales commissions. Net proceeds to the Company totaled approximately $369.7 million. The Company plans to use the net proceeds from this offering to accelerate the development and commercialization of our Advanced Technologies products, including our solid oxide platform, for project development, for internal research and development, to invest in capacity expansion for solid oxide and carbonate fuel cell manufacturing, and for project financing, working capital support, and general corporate purposes. The remaining availability under the Open Market Sale Agreement as of the date of filing of this report is approximately $122.8 million. See Note 13. “Stockholders’ Equity and Warrant Liabilities” for additional information regarding the Open Market Sale Agreement. We believe that our unrestricted cash and cash equivalents, expected receipts from our contracted backlog, and release of short-term restricted cash less expected disbursements over the next twelve months will be sufficient to allow the Company to meet its obligations for at least one year from the date of issuance of these financial statements. To date, we have not achieved profitable operations or sustained positive cash flow from operations. The Company’s future liquidity, in fiscal year 2022 and in the long-term, will depend on its ability to (i) timely complete current projects in process within budget, (ii) increase cash flows from its generation operating portfolio, including by meeting conditions required to timely commence operation of new projects, operating its generation operating portfolio in compliance with minimum performance guarantees and operating its generation operating portfolio in accordance with revenue expectations, (iii) obtain financing for project construction, (iv) obtain permanent financing for its projects once constructed, (v) increase order and contract volumes, which would lead to additional product sales, service agreements and generation revenues, (vi) obtain funding for and receive payment for research and development under current and future Advanced Technologies contracts, (vii) successfully commercialize its Advanced Technologies platforms, including its solid oxide, hydrogen and carbon capture platforms, (viii) implement the product cost reductions necessary to achieve profitable operations, (ix) manage working capital and the Company’s unrestricted cash balance and (x) access the capital markets to raise funds through the sale of equity securities, convertible notes, and other equity-linked instruments. We are continually assessing different means by which to accelerate the Company’s growth, enter new markets, commercialize new products, and enable capacity expansion. Therefore, from time to time, the Company may consider and enter into agreements for one or more of the following: negotiated financial transactions, minority investments, collaborative ventures, technology sharing, transfer or other technology license arrangements, joint ventures, partnerships, acquisitions or other business transactions for the purpose(s) of geographic or manufacturing expansion and/or new product or technology development and commercialization, including hydrogen production and storage and carbon capture, sequestration and utilization technologies. Our business model requires substantial outside financing arrangements and satisfaction of the conditions of such financing arrangements to construct and deploy our projects and facilitate the growth of our business. The Company has invested capital raised from sales of its common stock to build out its project portfolio. The Company has also utilized and expects to continue to utilize a combination of long-term debt and tax equity financing (e.g., sale-leaseback and partnership transactions) to finance its project asset portfolio as these projects commence commercial operations. The Company may also utilize the proceeds from private placements of debt securities of a portfolio of assets to finance its project asset portfolio. The proceeds of any such financing, if obtained, may allow the Company to recycle capital back to the business and to fund other projects. We may also seek to obtain additional financing in both the debt and equity markets in the future. If financing is not available to us on acceptable terms if and when needed, or on terms acceptable to us or our lenders, if we do not satisfy the conditions of our financing arrangements, if we spend more than the financing approved for projects, if project costs exceed an amount that the Company can finance, or if we do not generate sufficient revenues or obtain capital sufficient for our corporate needs, we may be required to reduce or slow planned spending, reduce staffing, sell assets, seek alternative financing and take other measures, any of which could have a material adverse effect on our financial condition and operations.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Jan. 31, 2022
Recent Accounting Pronouncements
Recent Accounting Pronouncements	Note 2. Recent Accounting Pronouncements Recently Adopted Accounting Guidance There is no recently adopted accounting guidance. Recent Accounting Guidance Not Yet Effective There is no recent accounting guidance not yet effective that is expected to have a material impact on the Company’s financial statements when adopted.

Tax Equity Financing

Tax Equity Financing	3 Months Ended
Tax Equity Financing	Jan. 31, 2022
Tax Equity Financing.
Tax Equity Financing	Note 3. Tax Equity Financing Groton Tax Equity Financing Transaction The Company closed on a tax equity financing transaction in August 2021 with East West Bancorp, Inc. (“East West Bank”) for the 7.4 MW fuel cell project (the “Groton Project”) located on the U.S. Navy Submarine Base in Groton, CT, also known as the Submarine Force. East West Bank’s tax equity commitment totals $15 million. This transaction was structured as a “partnership flip”, which is a structure commonly used by tax equity investors in the financing of renewable energy projects. Under this partnership flip structure, a partnership, in this case Groton Station Fuel Cell Holdco, LLC (the “Groton Partnership”), was organized to acquire from FuelCell Energy Finance II, LLC, a wholly-owned subsidiary of the Company, all outstanding equity interests in Groton Station Fuel Cell, LLC (the “Groton Project Company”) which in turn owns the Groton Project and is the party to the power purchase agreement and all project agreements. At the closing of the transaction, the Groton Partnership is owned by East West Bank, holding Class A Units, and Fuel Cell Energy Finance Holdco, LLC, a subsidiary of FuelCell Energy Finance, LLC, holding Class B Units. The acquisition of the Groton Project Company by the Groton Partnership was funded in part by an initial draw from East West Bank and funds contributed downstream to the Groton Partnership by the Company. The initial closing occurred on August 4, 2021, upon the satisfaction of certain conditions precedent (including the receipt of an appraisal and confirmation that the Groton Project would be eligible for the investment tax credit under Section 48 of the Internal Revenue Code of 1986, as amended). In connection with the initial closing, the Company was able to draw down $3.0 million, of which approximately $0.8 million was used to pay closing costs including appraisal fees, title insurance expenses and legal and consulting fees. The Company is eligible to draw the remaining amount of the commitment, approximately $12 million, once the Groton Project achieves commercial operation. When such funds are drawn down, the funds will be distributed upstream to the Company, as a reimbursement of prior construction costs incurred by the Company. Under most partnership flip structures, tax equity investors agree to receive a minimum target rate of return, typically on an after-tax basis. Prior to receiving a contractual rate of return or a date specified in the contractual arrangements, East West Bank will receive substantially all of the non-cash value attributable to the Groton Project, which includes accelerated depreciation and Section 48(a) investment tax credits; however, the Company will receive a majority of the cash distributions (based on the operating income of the Groton Project), which are paid quarterly. After East West Bank receives its contractual rate of return, the Company will receive approximately 95% of the cash and tax allocations. The Company (through a separate wholly owned entity) may enter into a back leverage debt financing transaction and use the cash distributions from the Groton Partnership to service the debt. We have determined we are the primary beneficiary in the Groton Partnership for accounting purposes as a Variable Interest Entity (“VIE”) under GAAP. We have considered the provisions within the financing-related agreements (including the limited liability company agreement for the Groton Partnership) Consolidations Yaphank Tax Equity Financing Transaction The Company closed on a tax equity financing transaction in November 2021 with Renewable Energy Investors, LLC (“REI”) , a subsidiary of Franklin Park Infrastructure, LLC, for the 7.4 MW fuel cell project (the “LIPA Yaphank Project”) located in Yaphank Long Island. REI’s tax equity commitment totals $12.4 million. This transaction was structured as a “partnership flip,” which is a structure commonly used by tax equity investors in the financing of renewable energy projects. Under this partnership flip structure, a partnership, in this case YTBFC Holdco, LLC (the “Yaphank Partnership”), was organized to acquire from FuelCell Energy Finance II, LLC, a wholly-owned subsidiary of the Company, all outstanding equity interests in Yaphank Fuel Cell Park, LLC (the “Yaphank Project Company”) which in turn owns the LIPA Yaphank Project and is the party to the power purchase agreement and all project agreements. At the closing of the transaction, the Yaphank Partnership is owned by REI, holding Class A Units, and FuelCell YT Holdco LLC, a subsidiary of FuelCell Energy Finance, LLC, holding Class B Units. The acquisition of the Yaphank Project Company by the Yaphank Partnership was funded in part by an initial draw from REI and funds contributed downstream to the Yaphank Partnership by the Company. The initial funding occurred on December 13, 2021, upon the satisfaction of certain conditions precedent (including the receipt of an appraisal and confirmation that the LIPA Yaphank Project would be eligible for the investment tax credit (“ITC”) under Section 48 of the Internal Revenue Code of 1986, as amended). In connection with the initial closing, the Company was able to draw down approximately $3.2 million, of which approximately $0.4 million was used to pay closing costs, including title insurance expenses and legal and consulting fees. The Company drew down the remaining amount of the commitment, approximately $9.2 million, in December 2021 and January 2022, after the LIPA Yaphank Project achieved commercial operation. These proceeds were partially offset by legal and advisory fees of approximately $0.3 million. Under a partnership flip structure, tax equity investors agree to receive a minimum target rate of return, typically on an after-tax basis. Prior to receiving a contractual rate of return or a date specified in the contractual arrangements, REI will receive substantially all of the non-cash value attributable to the LIPA Yaphank Project, which includes accelerated depreciation and Section 48(a) investment tax credits; however, the Company will receive a majority of the cash distributions (based on the operating income of the LIPA Yaphank Project), which are paid quarterly. After REI receives its contractual rate of return, the Company will receive approximately 95% of the cash and tax allocations. The Company (through a separate wholly owned entity) may enter into a back leverage debt financing transaction and use the cash distributions from the Yaphank Partnership to service the debt. Under this partnership flip structure, after the fifth anniversary following commercial operations, we have an option to acquire all of the equity interests that REI holds in the Yaphank Partnership starting after REI receives its contractual rate of return (the anticipated “flip” date) after the LIPA Yaphank Project is operational. If we exercise this option, we will be required to pay the greater of the following: (i) the fair market value of REI's equity interest at the time the option is exercised or (ii) an amount equal 10.3% of REI’s capital contributions. This option payment is to be grossed up for federal taxes if it exceeds the tax basis of the Yaphank Partnership Class A Units. We have determined we are the primary beneficiary in the Yaphank Partnership for accounting purposes as a VIE under GAAP. We have considered the provisions within the financing-related agreements (including the limited liability company agreement for the Yaphank Partnership) which grant us power to manage and make decisions affecting the operations of the Yaphank Partnership. We consider that the rights granted to REI under the agreements to be more protective in nature rather than participatory. Therefore, we have determined under the power and benefits criterion of ASC 810, Consolidations

Revenue Recognition

Revenue Recognition	3 Months Ended
Revenue Recognition	Jan. 31, 2022
Revenue Recognition
Revenue Recognition	Note 4. Revenue Recognition Contract Balances Contract assets as of January 31, 2022 and October 31, 2021 were $24.9 million and $20.5 million, respectively. The contract assets relate to the Company’s rights to consideration for work performed but not billed. These amounts are included on a separate line item as Unbilled receivables for amounts expected to be billed within one year from the balance sheet date, and balances expected to be billed later than one year from the balance sheet date are included within Other assets on the accompanying Consolidated Balance Sheets. The net change in contract assets represents amounts recognized as revenue offset by customer billings. Contract liabilities as of January 31, 2022 and October 31, 2021 were $34.5 million and $36.7 million, respectively. The contract liabilities relate to the advance billings to customers for services that will be recognized over time and in some instances for deferred revenue relating to license performance obligations that will be recognized at a future point in time. The Company discontinued revenue recognition of the deferred license revenue related to the POSCO Energy License Agreements in July 2020 given the then pending arbitrations. As of January 31, 2022, $22.2 million related to the POSCO Energy License Agreements has been reclassified from deferred revenue to customer deposits within Long-term deferred revenue and customer deposits on the accompanying Consolidated Balance Sheets. The net change in contract liabilities represents customer billings offset by revenue recognized. Contract modification As a result of the settlement reached with POSCO Energy Co., Ltd. (“POSCO Energy”) (see Note 19. “Commitments and Contingencies” for further background), the Company evaluated the license agreements with POSCO Energy as well as all of the terms of the settlement agreement, which was effective December 20, 2021 (the “Settlement Agreement”). As part of this analysis, the Company considered the accounting surrounding the execution of the Settlement Agreement, reviewed all elements related to the license agreements with POSCO Energy and the Settlement Agreement and considered any potential contingencies in the license agreements and whether any proceeds were related to the litigation settlement. Under the terms of the Settlement Agreement, the Company agreed that the license agreements are not terminated, but instead are deemed to be amended such that POSCO Energy and its subsidiary, Korea Fuel Cell Co., Ltd. (“KFC”, and with POSCO Energy, collectively, “PE Group”), only have the right (i) to provide maintenance and repair services to PE Group’s existing customers on existing molten carbonate power generation and thermal projects under long-term service agreements currently in force as well as long-term service agreements that have expired and are pending renewal as of the settlement date (collectively, “Existing LTSAs”), (ii) to supply replacement modules purchased from the Company only for their existing customers for existing molten carbonate power generation and thermal projects under Existing LTSAs and (iii) to own, operate and maintain all facilities and factories solely for the purposes set forth in (i) and (ii) above (collectively, the “Right to Service License”) and further agreed to sell modules with a service warranty pursuant to a module sales agreement to be negotiated by the parties after execution of the Settlement Agreement. As such, the Company has considered the execution of the Settlement Agreement to be a contract modification as it results in a change in both the scope and price of a contract with a customer. Therefore, the Company will account for such modification under the contract modification guidance included within ASC 606 (Revenue from Contracts with Customers). Further, the Company noted that none of the parties to the Settlement Agreement specifically acknowledged any payment of damages or reimbursement of any costs related to the matters settled under the Settlement Agreement, which supports the conclusion that the overall settlement is a form of contract modification. Additionally, the transaction price allocated to the modified contract does not exceed the stand-alone selling prices (“SSP”) of the performance obligations under the modified contract (i.e., there is no indication of a premium that would indicate that a portion of the transaction price relates to something other than the promised goods or services). The Company has identified two revenue elements of the Settlement Agreement related to module sales which include the sale of the module and an extended warranty. The Company assessed the SSP of the modules utilizing a cost-plus margin approach to arrive at $3.0 million per module which will be recognized upon title transfer consistent with the Company’s established revenue recognition policies. The Company is also providing an extended warranty for up to seven years with each module. This SSP was separately evaluated and determined to be $0.67 million per module. This revenue recognition will be recognized over time as the modules perform. In its analysis, the Company determined that it is probable that PE Group will exercise its option to purchase an additional 14 modules (with an extended warranty) beyond the firm order of 20 modules, to which it is contractually committed. Given that the license rights for which the Company was previously recognizing revenue are no longer in place and the Company now has a new revenue stream from the enhanced warranty, the $22.2 million of deferred license revenue has been recharacterized to customer deposit. The Company will monitor the value of this deferred revenue (and related cost obligations) based on the performance of the modules and make adjustments as necessary EMRE Joint Development Agreement Effective as of October 31, 2019, the Company entered into a Joint Development Agreement (as amended, the “EMRE Joint Development Agreement”) with ExxonMobil Research and Engineering Company (“EMRE”), pursuant to which the Company has engaged in exclusive research and development efforts with EMRE to evaluate and develop new and/or improved carbonate fuel cells to reduce carbon dioxide emissions from industrial and power sources, in exchange for (i) payment by EMRE of certain fees and costs as well as certain milestone-based payments to be paid only if certain technological milestones are met, and (ii) certain licenses . Effective as of October 31, 2021, the Company and EMRE entered into in Amendment No. 1 to the EMRE Joint Development Agreement and agreed, among other things, to extend the term of the EMRE Joint Development Agreement for an additional six months, ending on April 30, 2022 (unless terminated earlier). This extension allows for the continuation of research that would enable incorporation of design improvements to the Company’s current fuel cell design in order to support a decision to use the improvements in a potential future demonstration of the technology for capturing carbon at ExxonMobil’s Rotterdam refinery in The Netherlands (such demonstration, the “Rotterdam Project”) and provided additional time to achieve the first milestone under the EMRE Joint Development Agreement. In a related letter agreement between the Company and EMRE dated as of October 28, 2021 and executed on October 29, 2021(the “Letter Agreement”), the Company agreed to invest with EMRE in the Rotterdam Project, should EMRE move forward with the Rotterdam Project. In the Letter Agreement, the Company agreed that, if (i) the Company achieves the first milestone and (ii) EMRE and the Company execute a contractual agreement to proceed with the Rotterdam Project, then at EMRE’s option, the Company will either make an investment in the amount of $5.0 million in the Rotterdam Project or discount EMRE’s purchase of the Company’s fuel cell module and detailed engineering design, as agreed to by the parties, required for the Rotterdam Project by said amount. During the three months ended January 31, 2022, the Company achieved the first technical milestone under the EMRE Joint Development Agreement and expects to receive payment of $5.0 million. The Company has not recognized revenue in connection with this milestone achievement as a result of its agreement, in the Letter Agreement described above, to either make a $5.0 million investment in the Rotterdam Project or discount EMRE’s purchase of the Company’s fuel cell module and detailed engineering design for the Rotterdam Project by $5.0 million, should the Company enter into a contract with EMRE to proceed with the Rotterdam Project. The Company will continue to evaluate revenue recognition of this milestone achievement as project negotiations with ExxonMobil (or a subsidiary thereof) evolve. Remaining Performance Obligations Remaining performance obligations are the aggregate amount of total contract transaction price that is unsatisfied or partially unsatisfied. As of January 31, 2022, the Company’s total remaining performance obligations were: $60.2 million for product revenue, $123.7 million for service agreements, and $31.7 million for Advanced Technologies contracts in the aggregate. Service revenue in periods in which there are no module exchanges is expected to be relatively consistent from period to period, whereas module exchanges will result in an increase in revenue when exchanges occur.

Accounts Receivable, Net and Un

Accounts Receivable, Net and Unbilled Receivables	3 Months Ended
Accounts Receivable, Net and Unbilled Receivables	Jan. 31, 2022
Accounts Receivable, Net and Unbilled Receivables
Accounts Receivable, Net and Unbilled Receivables	Note 5. Accounts Receivable, Net and Unbilled Receivables Accounts receivable, net and Unbilled receivables as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Commercial Customers: Amount billed $ 30,009 $ 13,854 Unbilled receivables (1) 10,077 7,175 40,086 21,029 Advanced Technologies (including U.S. government (2) Amount billed 693 876 Unbilled receivables 3,481 1,749 4,174 2,625 Accounts receivable, net and unbilled receivables $ 44,260 $ 23,654 (1) Additional long-term unbilled receivables of $11.3 million and $11.6 million are included within “Other Assets” as of January 31, 2022 and October 31, 2021, respectively. (2) Total U.S. government accounts receivable, including unbilled receivables, outstanding as of January 31, 2022 and October 31, 2021 were $1.7 million and $2.3 million, respectively. We bill customers for power platform and power platform component sales based on certain contractual milestones being reached. We bill service agreements based on the contract price and billing terms of the contracts. Generally, our Advanced Technologies contracts are billed based on actual revenues recorded, typically in the subsequent month. Some Advanced Technologies contracts are billed based on contractual milestones or costs incurred. Unbilled receivables relate to revenue recognized on customer contracts that have not been billed. The Company had no allowance for doubtful accounts as of January 31, 2022 and October 31, 2021. Uncollectible accounts receivable are charged against the allowance for doubtful accounts when all collection efforts have failed and it is deemed unlikely that the amount will be recovered.

Inventories

Inventories	3 Months Ended
Inventories	Jan. 31, 2022
Inventories
Inventories	Note 6. Inventories Inventories (short and long-term) as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Raw materials $ 27,914 $ 25,968 Work-in-process (1) 42,058 45,692 Inventories 69,972 71,660 Inventories – short-term (65,386) (67,074) Inventories – long-term (2) $ 4,586 $ 4,586 (1) Work-in-process includes the standard components of inventory used to build the typical modules or module components that are intended to be used in future project asset construction or power plant orders or for use under the Company’s service agreements. Included in work-in-process as of January 31, 2022 and October 31, 2021 was $26.5 million and $39.7 million, respectively, of completed standard components and modules. (2) Long-term inventory includes modules that are contractually required to be segregated for use as exchange modules for specific project assets. Raw materials consist mainly of various nickel powders and steels, various other components used in producing cell stacks and purchased components for balance of plant. Work-in-process inventory is comprised of material, labor, and overhead costs incurred to build fuel cell stacks and modules, which are subcomponents of a power platform. The Company incurred costs associated with excess plant capacity and manufacturing variances of $3.2 million and $2.0 million for the three months ended January 31, 2022 and 2021, respectively, which were included within product cost of revenues on the Consolidated Statements of Operations and Comprehensive Loss. The increase in manufacturing variances is primarily the result of a fixed asset impairment charge of approximately $1.0 million for the three months ended January 31, 2022 (related to a conditioning facility in Danbury, CT, which is being replaced by a new facility in Torrington, CT as a part of our fiscal year 2022 capital investments) and accrued warranty cost of approximately $0.2 million associated with the module sales to KFC discussed above.

Project Assets

Project Assets	3 Months Ended
Project Assets	Jan. 31, 2022
Project Assets
Project Assets	Note 7. Project Assets Project assets as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, Estimated 2022 2021 Useful Life Project Assets – Operating $ 165,461 $ 116,286 5 Accumulated depreciation (20,451) (19,844) Project Assets – Operating, net 145,010 96,442 Project Assets – Construction in progress 90,592 126,835 7-20 years Project Assets, net $ 235,602 $ 223,277 The estimated useful lives of these project assets are 20 years from commencement date for balance of plant (“BOP”) and site construction, and four Project assets as of January 31, 2022 and October 31, 2021 also include installations with carrying values of $90.6 million and $126.8 million, respectively, which are being developed and constructed by the Company in connection with projects for which we have entered into PPAs and which have not yet been placed in service. Included in “Construction in progress” is the 2.3 MW Toyota project. It was determined in the fourth quarter of fiscal year 2021 that a potential source of renewable natural gas (“RNG”) at favorable pricing was no longer sufficiently probable and that market pricing for RNG has significantly increased, resulting in the determination that the carrying value of the project asset is no longer recoverable. Refer to Note 19. “Commitments and Contingencies” for more information regarding fuel risk exposure. While the Company is pursuing alternative sources of RNG, a $2.8 million charge was recorded which represents the carrying value of the project asset less the carrying value of inventory components that could be redeployed for alternative use. As this project is being constructed, only amounts that can be redeployed for alternative use are being capitalized. The balance of costs incurred are being expensed as generation cost of revenues. Project construction costs incurred for long-term project assets are reported as investing activities in the Consolidated Statements of Cash Flows. The proceeds received from the sale and subsequent leaseback of project assets are classified as “Cash flows from financing activities” within the Consolidated Statements of Cash Flows and are classified as a financing obligation within “Current portion of long-term debt” and “Long-term debt and other liabilities” on the Consolidated Balance Sheets (refer to Note 17. “Debt” for more information).

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Jan. 31, 2022
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 8. Goodwill and Intangible Assets As of January 31, 2022 and October 31, 2021, the Company had goodwill of $4.1 million and intangible assets of $18.3 million and $18.7 million, respectively, that were recorded in connection with the Company’s 2012 acquisition of Versa Power Systems, Inc. (“Versa”) and the 2019 Bridgeport Fuel Cell Project acquisition. The Versa acquisition intangible asset represents an indefinite-lived in-process research and development intangible asset for cumulative research and development efforts associated with the development of solid oxide fuel cell stationary power generation. Amortization expense for the Bridgeport Fuel Cell Project-related intangible asset for each of the three months ended January 31, 2022 and 2021 was $0.3 million. The following tables summarize the Company’s intangible assets as of January 31, 2022 and October 31, 2021 (in thousands): As of January 31, 2022 Gross Amount Accumulated Amortization Net Amount In-Process Research and Development $ 9,592 $ — $ 9,592 Bridgeport PPA 12,320 (3,566) 8,754 Total $ 21,912 $ (3,566) $ 18,346 As of October 31, 2021 Gross Amount Accumulated Amortization Net Amount In-Process Research and Development $ 9,592 $ — $ 9,592 Bridgeport PPA 12,320 (3,242) 9,078 Total $ 21,912 $ (3,242) $ 18,670

Other Current Assets

Other Current Assets	3 Months Ended
Other Current Assets	Jan. 31, 2022
Other Current Assets
Other Current Assets	Note 9. Other Current Assets Other current assets as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Advance payments to vendors (1) $ 4,409 $ 4,005 Prepaid expenses and other (2) 5,355 5,172 Other current assets $ 9,764 $ 9,177 (1) Advance payments to vendors relate to payments for inventory purchases ahead of receipt. (2) Primarily relates to other prepaid vendor expenses including insurance expense.

Other Assets

Other Assets	3 Months Ended
Other Assets	Jan. 31, 2022
Other Assets
Other Assets	Note 10. Other Assets Other assets as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Long-term stack residual value (1) $ — $ 263 Long-term unbilled receivables (2) 11,316 11,581 Other (3) 6,924 5,154 Other assets $ 18,240 $ 16,998 (1) Relates to estimated residual value for module exchanges performed under the Company’s service agreements where the useful life extends beyond the contractual term of the service agreement and the Company obtains title for the module from the customer upon expiration or non-renewal of the service agreement. If the Company does not obtain rights to title from the customer, the full cost of the module is expensed at the time of the module exchange. (2) Represents unbilled receivables that relate to revenue recognized on customer contracts that will be billed in future periods in excess of 12 months from the balance sheet date. (3) The Company entered into an agreement with one of its customers on June 29, 2016 which includes payments for the purchase of the customer’s power platforms by the Company at the end of the term of the agreement. The payments are to be made in installments over the term of the agreement and the total amount paid as of each of January 31, 2022 and October 31, 2021 was $2.2 million. Also included within “Other” are long-term security deposits and prepaid withholding taxes on deferred revenue as of January 31, 2022 and October 31, 2021.

Accrued Liabilities

Accrued Liabilities	3 Months Ended
Accrued Liabilities	Jan. 31, 2022
Accrued Liabilities
Accrued Liabilities	Note 11. Accrued Liabilities Accrued liabilities as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Accrued payroll and employee benefits $ 2,723 $ 2,544 Accrued product warranty cost (1) 297 72 Accrued service agreement and PPA costs (2) 8,667 9,112 Accrued legal, taxes, professional and other (3) 14,301 4,371 Accrued liabilities $ 25,988 $ 16,099 (1) The increase in accrued product warranty cost reflects the costs associated with the warranties provided under the POSCO Energy Settlement Agreement. Product warranty expense for the three months ended January 31, 2022 and 2021 was $0.2 million and $0.03 million, respectively. (2) Accrued service agreement costs include loss accruals on service agreements of $5.8 million and $6.5 million as of January 31, 2022 and October 31, 2021, respectively. The decrease is the result of realization of losses for the quarter ended January 31, 2022. The accruals for performance guarantees on service agreements and PPAs increased from $2.5 million as of October 31, 2021 to $2.7 million as of January 31, 2022. (3) The increase in legal accrual reflects the $10 million payable to Wiley Rein, LLP out of the agreed $24 million related to the Settlement Agreement as $14 million was paid on December 30, 2021.

Leases

Leases	3 Months Ended
Leases	Jan. 31, 2022
Leases
Leases	Note 12. Leases The Company enters into operating and finance lease agreements for the use of real estate, vehicles, information technology equipment, and certain other equipment. We determine if an arrangement contains a lease at inception, which is the date on which the terms of the contract are agreed to and the agreement creates enforceable rights and obligations. Operating leases are included in Operating lease right-of-use assets, net, Operating lease liabilities, and Long-term operating lease liabilities in the Company’s Consolidated Balance Sheets. Finance leases are not considered significant to the Company’s Consolidated Balance Sheets or Consolidated Statements of Operations and Comprehensive Loss. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the present value of the Company’s obligation to make lease payments arising from the lease over the lease term at the commencement date of the lease. As most of the Company’s leases do not provide an implicit rate, the Company estimated the incremental borrowing rate based on the information available in determining the present value of lease payments and used the implicit rate when readily determinable. The Company determined incremental borrowing rates through market sources for secured borrowings including relevant industry rates. The Company’s operating lease ROU assets also include any lease pre-payments and exclude lease incentives. Certain of the Company’s leases include variable payments, which may vary based upon changes in facts or circumstances after the start of the lease. The Company excludes variable payments from lease ROU assets and lease liabilities, to the extent not considered in-substance fixed, and instead, expenses variable payments as incurred. Variable lease expense and lease expense for short term contracts are not material components of lease expense. The Company’s leases generally have remaining lease terms of 1 to 26 years, some of which include options to extend leases. The exercise of lease renewal options is at the Company’s sole discretion and the Company’s lease ROU assets and liabilities reflect only the options the Company is reasonably certain that it will exercise. The Company does not have leases with residual value guarantees or similar covenants. Operating lease expense for each of the three months ended January 31, 2022 and 2021 was $0.4 million. As of January 31, 2022, the weighted average remaining lease term (in years) was approximately 20 years and the weighted average discount rate was 8.2%. Lease payments made during the three months ended January 31, 2022 and 2021 were $0.4 million and $0.3 million, respectively. Undiscounted maturities of operating lease and finance lease liabilities are as follows: Operating Leases Finance Leases Due Year 1 $ 1,515 $ 53 Due Year 2 1,002 49 Due Year 3 854 — Due Year 4 774 — Due Year 5 779 — Thereafter 13,998 — Total undiscounted lease payments 18,922 102 Less imputed interest (10,088) (11) Total discounted lease payments $ 8,834 $ 91

Stockholders' Equity and Warran

Stockholders' Equity and Warrant Liabilities	3 Months Ended
Stockholders' Equity and Warrant Liabilities	Jan. 31, 2022
Stockholders' Equity and Warrant Liabilities
Stockholders' Equity and Warrant Liabilities	Note 13. Stockholders’ Equity and Warrant Liabilities Open Market Sale Agreement On June 11, 2021, the Company entered into an Open Market Sale Agreement with Jefferies LLC and Barclays Capital Inc. (the “Agents”) with respect to an at the market offering program under which the Company may, from time to time, offer and sell shares of the Company’s common stock having an aggregate offering price of up to $500 million. Pursuant to the Open Market Sale Agreement, the Company paid the Agent making each sale a commission equal to 2.0% of the aggregate gross proceeds it received from such sale by such Agent of shares under the Open Market Sale Agreement. From the date of the Open Market Sale Agreement through October 31, 2021, approximately 44.1 million shares were sold under the Open Market Sale Agreement at an average sales price of $8.56 per share, resulting in gross proceeds of $377.2 million, before deducting expenses and sales commissions. Net proceeds to the Company totaled approximately $369.7 million after deducting commissions and offering expenses totaling approximately $7.5 million. As of January 31, 2022, the remaining availability under the Open Market Sale Agreement totaled $122.8 million. There were no sales under the Open Market Sale Agreement during the quarter ended January 31, 2022. Outstanding Warrants The following table summarizes outstanding warrant activity during the three months ended January 31, 2022: Series C Warrants Balance as of October 31, 2021 950,102 Warrants issued — Warrants exercised — Balance as of January 31, 2022 950,102 The Series C warrants, which were issued in May 2017, have an exercise price of $19.20 per share and a term of five years. The Series C warrants contain provisions regarding adjustments to their exercise price and the number of shares of common stock issuable upon exercise.

Redeemable Preferred Stock

Redeemable Preferred Stock	3 Months Ended
Redeemable Preferred Stock	Jan. 31, 2022
Redeemable Preferred Stock
Redeemable Preferred Stock	Note 14. Redeemable Preferred Stock The Company is authorized to issue up to 250,000 shares of preferred stock, par value $0.01 per share, in one or more series, of which 105,875 shares were designated as 5% Series B Cumulative Convertible Perpetual Preferred Stock (“Series B Preferred Stock”) in March 2005. Series B Preferred Stock As of January 31, 2022, the Company had 105,875 shares of Series B Preferred Stock, with a liquidation preference of $1,000.00 per share, authorized for issuance. As of January 31, 2022 and October 31, 2021, there were 64,020 shares of Series B Preferred Stock issued and outstanding, with a carrying value of $59.9 million. Dividends of $0.8 million were paid in cash during each of the three-month periods ended January 31, 2022 and 2021.

Loss Per Share

Loss Per Share	3 Months Ended
Loss Per Share	Jan. 31, 2022
Loss Per Share
Loss Per Share	Note 15. Loss Per Share The calculation of basic and diluted loss per share was as follows: Three Months Ended January 31, 2022 2021 Numerator Net loss attributable to FuelCell Energy, Inc. $ (40,624) $ (45,960) Series B preferred stock dividends (800) (800) Net loss attributable to common stockholders $ (41,424) $ (46,760) Denominator Weighted average common shares outstanding – basic 366,734,739 312,109,888 Effect of dilutive securities (1) — — Weighted average common shares outstanding – diluted 366,734,739 312,109,888 Net loss to common stockholders per share – basic $ (0.11) $ (0.15) Net loss to common stockholders per share – diluted (1) $ (0.11) $ (0.15) (1) Due to the net loss to common stockholders in each of the periods presented above, diluted loss per share was computed without consideration to potentially dilutive instruments as their inclusion would have been anti-dilutive. As of January 31, 2022 and 2021, potentially dilutive securities excluded from the diluted loss per share calculation are as follows: January 31, January 31, 2022 2021 May 2017 Offering – Series C Warrants 950,102 964,128 Outstanding options to purchase common stock 22,432 23,891 Unvested Restricted Stock Awards — 538 Unvested Restricted Stock Units 3,276,776 2,914,459 5% Series B Cumulative Convertible Preferred Stock 37,837 37,837 Total potentially dilutive securities 4,287,147 3,940,853

Restricted Cash

Restricted Cash	12 Months Ended
Restricted Cash	Oct. 31, 2021
Restricted Cash.
Restricted Cash	Note 16. Restricted Cash As of January 31, 2022 and October 31, 2021, there was $28.5 million and $28.0 million, respectively, of restricted cash and cash equivalents pledged as performance security, reserved for future debt service requirements, and reserved for letters of credit for certain banking requirements and contracts. The allocation of restricted cash is as follows (in thousands): January 31, October 31, 2022 2021 Cash Restricted for Outstanding Letters of Credit (1) $ 4,891 $ 6,478 Cash Restricted for PNC Sale-Leaseback Transactions (2) 4,045 5,514 Cash Restricted for Crestmark Sale-Leaseback Transactions (3) 2,888 2,887 Bridgeport Fuel Cell Park Project Debt Service and Performance Reserves (4) 14,528 11,937 Other 2,116 1,183 Total Restricted Cash 28,468 27,999 Restricted Cash and Cash Equivalents – Short-Term (5) (12,643) (11,268) Restricted Cash and Cash Equivalents – Long-Term $ 15,825 $ 16,731 (1) Letters of credit outstanding as of January 31, 2022 expire on various dates through August 2028. (2) Long and short-term reserve that is to be used primarily to fund future module exchanges for operating projects falling under the PNC sale leaseback obligations. The decrease in restricted cash at January 31, 2022 compared to October 31, 2021 is a result of the Company’s performance in completing certain module replacements, which resulted in cash being categorized as unrestricted. (3) Long and short-term reserve that is to be used primarily to fund future module exchanges and other performance obligations. (4) Long and short-term reserves for the Bridgeport Fuel Cell Park Project to fund future module exchanges and other performance requirements. (5) Short-term restricted cash and cash equivalents are amounts expected to be released and categorized as unrestricted cash within twelve months of the balance sheet date.

Debt

Debt	3 Months Ended
Debt	Jan. 31, 2022
Debt
Debt	Note 17. Debt Debt as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Connecticut Green Bank Loan 4,800 4,800 Connecticut Green Bank Loan (Bridgeport Fuel Cell Project) 4,121 4,318 Liberty Bank Term Loan Agreement (Bridgeport Fuel Cell Project) 6,944 7,465 Fifth Third Bank Term Loan Agreement (Bridgeport Fuel Cell Project) 6,944 7,465 Finance obligation for sale-leaseback transactions 56,381 56,492 State of Connecticut Loan 8,412 8,622 Finance lease obligations 91 102 Deferred finance costs (1,447) (1,556) Total debt and financing obligations $ 86,246 $ 87,708 Current portion of long-term debt and financing obligations (9,722) (10,085) Long-term debt and financing obligations $ 76,524 $ 77,623

Benefit Plans

Benefit Plans	3 Months Ended
Benefit Plans	Jan. 31, 2022
Benefit Plans
Benefit Plans	Note 18. Benefit Plans We have stockholder approved equity incentive plans, a stockholder approved Employee Stock Purchase Plan and an employee tax-deferred savings plan. During the three months ended January 31, 2022, the Company’s Board of Directors approved a sub-plan to its 2018 Omnibus Incentive Plan, as amended and restated, which is described in more detail below. 2018 Omnibus Incentive Plan The Company’s 2018 Omnibus Incentive Plan (as amended and restated from time to time, the “2018 Incentive Plan”) authorizes grants of stock options, stock appreciation rights (“SARs”), restricted stock awards (“RSAs”), restricted stock units (“RSUs”), performance shares, performance units and incentive awards to employees, directors, consultants and advisors. Stock options, RSAs, RSUs and SARs have restrictions as to transferability. Stock option exercise prices are fixed by the Company’s Board of Directors but shall not be less than the fair market value of our common stock on the date of the grant. SARs may be granted in conjunction with stock options. On December 10, 2021, the Company’s Board of Directors approved a Long Term Incentive Plan (the “LTI Plan”) as a sub-plan consisting of awards made under the 2018 Incentive Plan. The participants in the LTI Plan include members of senior management and the Company’s named executive officers (as identified in the definitive proxy statement filed by the Company on February 22, 2022). The LTI Plan consists of two award components: (1) relative total shareholder return (“TSR”) performance units, and (2) time-vesting restricted stock units. The performance units granted during the three months ended January 31, 2022 will be earned over the performance period ending on October 31, 2024, but will remain subject to a continued service-based vesting requirement until the third anniversary of the date of grant. The performance measure for the relative TSR performance units is the TSR of the Company relative to the TSR of the Russell 2000 from November 1, 2021 through October 31, 2024. In addition to senior management, the Board of Directors also approved time-based awards to certain salaried employees to promote ownership of the Company’s equity and retention. The time-vesting RSUs granted during the three months ended January 31, 2022 will vest at a rate of one-third of the LTI Plan include any dividend equivalent or other stockholder rights. To the extent the awards are earned, they may be settled in shares or cash of an equivalent value at the Company’s option. On December 10, 2021, 642,464 time-vesting restricted stock units and 169,026 performance units were awarded under the LTI Plan. Should the Company’s share price achieve the 200% performance level, awardees will receive up to 169,026 additional performance units. The performance units were valued based on a Monte-Carlo Simulation, and the estimated fair value of the 169,026 relative TSR performance units was $11.70 per share. The performance units and time-vesting restricted stock units are expensed over the three-year service period. Share-based compensation was reflected in the Consolidated Statements of Operations and Comprehensive Loss as follows (in thousands): Three months Ended January 31, 2022 2021 Cost of revenues $ 153 $ 178 General and administrative expense 1,178 1,163 Research and development expense 78 30 $ 1,409 $ 1,371 Restricted Stock Awards and Restricted Stock Units Including Performance Based Awards The following table summarizes our RSA and RSU activity for the three months ended January 31, 2022: Restricted Stock Awards and Units Shares Weighted-Average Fair Value Outstanding as of October 31, 2021 2,543,541 $ 5.08 Granted – performance units 169,026 11.70 Granted – time-vesting restricted stock units 652,597 9.20 Vested (88,388) 3.54 Outstanding as of January 31, 2022 3,276,776 $ 6.27

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Jan. 31, 2022
Commitments And Contingencies
Commitments and Contingencies	Note 19. Commitments and Contingencies Service Agreements Under the provisions of its service agreements, the Company provides services to maintain, monitor, and repair customer power plants to meet minimum operating levels. Under the terms of such service agreements, the particular power plant must meet a minimum operating output during defined periods of the term. If minimum output falls below the contract requirement, the Company may be subject to performance penalties and/or may be required to repair or replace the customer’s fuel cell module(s). Power Purchase Agreements Under the terms of the Company’s PPAs, customers agree to purchase power from the Company’s fuel cell power plants at negotiated rates. Electricity rates are generally a function of the customers’ current and estimated future electricity pricing available from the grid. As owner or lessee of the power plants, the Company is responsible for all operating costs necessary to maintain, monitor and repair the power plants. Under certain agreements, the Company is also responsible for procuring fuel, generally natural gas or biogas, to run the power plants. In addition, under the terms of some of the PPAs, the Company may be subject to a performance penalty if the Company does not meet certain performance requirements. Project Fuel Exposure Certain of our PPAs for project assets in our generation operating portfolio and project assets under construction expose us to fluctuating fuel price risks as well as the risk of being unable to procure the required amounts of fuel and the lack of alternative available fuel sources. We seek to mitigate our fuel risk using strategies including: (i) fuel cost reimbursement mechanisms in our PPAs to allow for pass through of fuel costs (full or partial) where possible which we have done with our 14.9 MW operating project in Bridgeport, CT and our 7.4 MW project under construction in Hartford, CT; (ii) procuring fuel under fixed price physical contracts with investment grade counterparties which we have done for twenty years for our Tulare BioMAT project and the initial seven years of the twenty year PPA for our LIPA Yaphank, NY project; and (iii) entering into financial hedges with investment grade counterparties to offset potential negative market fluctuations. We currently have three projects in development with fuel sourcing risk, which are the Toyota project which requires procurement of RNG, and our Derby, CT 14.0 MW and 2.8 MW projects, which require natural gas. Fuel sourcing and risk mitigation strategies for all three projects are being assessed and will be implemented as project operational dates become firm. Such strategies may require cash collateral or reserves to secure fuel or related contracts for these three projects. If the Company is unable to secure fuel on favorable economic terms, it may result in impairment charges to these project assets. Impact of the COVID-19 Pandemic During fiscal year 2020, the Company launched a proactive response to the escalating COVID-19 outbreak and temporarily suspended operations at its Torrington, CT manufacturing facility in March 2020. The Company also commenced remote work protocol for those employees worldwide that were capable of working from home. The Company took these actions to secure the safety of the Company’s employees, our corporate community as a whole, and the communities in which our team members live, and to adhere to Centers for Disease Control and Prevention (“CDC”) recommendations of social distancing and limited public exposure in connection with the COVID-19 pandemic. All employees that were not able to work from home during the manufacturing facility shutdown due to their job function received full wages and benefits during such time. We did not implement any furlough, layoff or shared work program during such time. The Company resumed manufacturing in June 2020 and the Torrington, Connecticut manufacturing facility employees returned to work. We established a phased-in return to work schedule commencing March 15, 2021 for those employees working from home which was completed in April 2021. In December of 2021, we instructed certain employees to work from home as a result of a rise in cases in the northeastern United States. We lifted this mandate at the end of January 2022. We will continue to evaluate our ability to operate in the event of a resurgence of COVID-19 and the advisability of continuing operations based on federal, state and local guidance, evolving data concerning the pandemic and the best interests of our employees, customers and stockholders. In addition, given the continued elevated number of COVID-19 cases throughout the U.S. as a result of the highly transmissible Delta and Omicron variants, the Company instituted policies to protect its employees and customers such as a mandatory vaccination policy which required all U.S. employees to be fully vaccinated by November 1, 2021 or seek a qualified religious and/or medical exemption with weekly testing protocols. Other As of January 31, 2022, the Company had unconditional purchase commitments aggregating $85.4 million for materials, supplies and services in the normal course of business. Legal Proceedings POSCO Energy Matters Background and Description of Proceedings From approximately 2007 through 2015, the Company relied on POSCO Energy to develop and grow the South Korean and Asian markets for its products and services. The Company received upfront license payments and was entitled to receive royalty income from POSCO Energy pursuant to certain manufacturing and technology transfer agreements, including the Alliance Agreement dated February 7, 2007 (and the amendments thereto), the Technology Transfer, License and Distribution Agreement dated February 7, 2007 (and the amendments thereto), the Stack Technology Transfer and License Agreement dated October 27, 2009 (and the amendments thereto), and the Cell Technology Transfer and License Agreement dated October 31, 2012 (and the amendments thereto) (collectively, the “License Agreements”). The License Agreements provided POSCO Energy with the exclusive technology rights to manufacture, sell, distribute and service the Company’s SureSource 300, SureSource 1500 and SureSource 3000 fuel cell technology in the South Korean and broader Asian markets. In November 2019, POSCO Energy spun-off its fuel cell business into a new entity, KFC, without the Company’s consent. As part of the spin-off, POSCO Energy transferred manufacturing and service rights under the License Agreements to KFC, but retained distribution rights and severed its own liability under the License Agreements. The Company formally objected to POSCO Energy’s spin-off, and POSCO Energy posted a bond to secure any liabilities to the Company arising out of the spin-off. In September 2020, the Korean Electricity Regulatory Committee found that POSCO Energy’s spin-off of the fuel cell business to KFC may have been done in violation of South Korean law. On February 19, 2020, the Company notified POSCO Energy in writing that it was in material breach of the License Agreements by (i) its actions in connection with the spin-off of the fuel cell business to KFC, (ii) its suspension of performance through its cessation of all sales activities since late 2015 and its abandonment of its fuel cell business in Asia, and (iii) its disclosure of material nonpublic information to third parties and its public pronouncements about the fuel cell business on television and in print media that have caused reputational damage to the fuel cell business, the Company and its products. The Company also notified POSCO Energy that, under the terms of the License Agreements, it had 60 days to fully cure its breaches to the Company’s satisfaction and that failure to so cure would lead to termination of the License Agreements. Further, on March 27, 2020, the Company notified POSCO Energy of additional instances of its material breach of the License Agreements based on POSCO Energy’s failure to pay royalties required to be paid in connection with certain module exchanges. On April 27, 2020, POSCO Energy initiated a series of three arbitration demands against the Company at the International Court of Arbitration of the International Chamber of Commerce seated in Singapore, in which it alleged certain warranty defects in a sub-megawatt conditioning facility at its facility in Pohang, South Korea and sought combined damages of approximately $3.3 million. Prior to filing the arbitrations, POSCO Energy obtained provisional attachments from the Seoul Central District Court attaching certain revenues owed to the Company by Korea Southern Power Company (“KOSPO”) as part of such warranty claims, which delayed receipt of certain payments owed to the Company. POSCO Energy subsequently sought additional provisional attachments on KOSPO revenues from the Seoul Central District Court based on unspecified warranty claims in an additional amount of approximately $7 million, and additional provisional attachments on KOSPO revenues from the Seoul Central District Court based on its alleged counterclaims in the license termination arbitration described below in an additional amount of approximately $110 million. As of January 31, 2022, outstanding accounts receivable due from KOSPO were $11.2 million. POSCO Energy posted a bond in the amount of $46 million to secure any damages to the Company resulting from the attachments. On June 28, 2020, the Company terminated the License Agreements with POSCO Energy and filed a demand for arbitration against POSCO Energy and KFC in the International Court of Arbitration of the International Chamber of Commerce based on POSCO Energy’s (i) failure to exercise commercially reasonable efforts to sell the Company’s technology in the South Korean and Asian markets, (ii) disclosure of the Company’s proprietary information to third parties, (iii) attack on the Company’s stock price and (iv) spin-off of POSCO Energy’s fuel cell business into KFC without the Company’s consent. The Company requested that the arbitral tribunal (a) confirm through declaration that POSCO Energy’s exclusive license to market the Company’s technology and products in South Korea and Asia is null and void as a result of the breaches of the License Agreements and that the Company had the right to pursue direct sales in these markets, (b) order POSCO Energy and KFC to compensate the Company for losses and damages suffered in the amount of more than $200 million, and (c) order POSCO Energy and KFC to pay the Company’s arbitration costs, including counsel fees and expenses. The Company retained outside counsel on a contingency basis to pursue its claims, and outside counsel entered into an agreement with a litigation finance provider to fund the legal fees and expenses of the arbitration. In October 2020, POSCO Energy filed a counterclaim in the arbitration (x) seeking approximately $880 million in damages based on allegations that the Company misrepresented the capabilities of its fuel cell technology to induce POSCO Energy to enter into the License Agreements and failed to turn over know-how sufficient for POSCO Energy to successfully operate its business; (y) seeking a declaration that the License Agreements remained in full force and effect and requesting the arbitral tribunal enjoin the Company from interfering in POSCO Energy’s exclusive rights under the License Agreements and (z) seeking an order that the Company pay POSCO Energy’s arbitration costs, including counsel fees and expenses. The Company discontinued revenue recognition of the deferred license revenue related to the License Agreements in July 2020 given the then-pending arbitrations. On August 28, 2020, POSCO Energy filed a complaint in the Court of Chancery of the State of Delaware (the “Court”) purportedly seeking to enforce its rights as a stockholder of the Company to inspect and make copies and extracts of certain books and records of the Company and/or the Company’s subsidiaries pursuant to Section 220 of the Delaware General Corporation Law and/or Delaware common law. POSCO Energy alleged that it was seeking to inspect these documents for a proper purpose reasonably related to its interests as a stockholder of the Company, including investigating whether the Company’s Board of Directors and its management breached their fiduciary duties of loyalty, due care, and good faith. POSCO Energy sought an order of the Court permitting POSCO Energy to inspect and copy the demanded books and records, awarding POSCO Energy reasonable costs and expenses, including reasonable attorney’s fees incurred in connection with the matter, and granting such other and further relief as the Court deemed just and proper. On July 9, 2021, the Court issued a post-trial ruling denying POSCO Energy’s demand to inspect the Company’s books and records because POSCO Energy lacked a proper purpose. The Court held that the totality of the circumstances, including the fact that this complaint was the seventh legal action POSCO Energy initiated against the Company within the span of nine months, confirmed that POSCO Energy’s purpose in initiating the books and records demand and filing the complaint was not proper. As this dispute was resolved by the Court as described above, it did not require resolution pursuant to, and was not part of, the Settlement Agreement described below. On September 14, 2020, POSCO Energy filed a complaint in the United States District Court for the Southern District of New York (the “SD Court”) alleging that the Company delayed the removal of restrictive legends on certain share certificates held by POSCO Energy in 2018, thus precluding POSCO Energy from selling the shares and resulting in claimed losses in excess of $1 million. On September 16, 2021, the SD Court ruled in the Company’s favor on a motion for summary judgement dismissing all four counts of POSCO Energy’s complaint regarding share certificates held by POSCO Energy in 2018, but granted POSCO Energy leave to file an amended complaint. Settlement Agreement In order to resolve the disputes described above (other than the books and records dispute which was previously resolved by the Court), on December 20, 2021, the Company entered into the Settlement Agreement with PE Group. The Settlement Agreement provides, among other things, that the parties will cooperate in good faith to effect a market transition to the Company of the molten carbonate fuel cell business in Korea in accordance with the terms and conditions of the Settlement Agreement. To that end, the Settlement Agreement provides that any and all past, current, or potential disputes and claims between the Company, on the one hand, and POSCO Energy and KFC, on the other, of any nature whatsoever, whether known or unknown, asserted or not asserted, based on actions or omissions of any party on or before the date of Settlement Agreement are fully and finally settled, including such disputes and claims, directly or indirectly, in connection with the legal disputes (other than the books and records dispute which was previously resolved by the Court) and License Agreements described above, with the exception of (i) an unfiled claim by the Company in the amount of approximately $1.8 million with respect to certain royalties the Company believes are owed by POSCO Energy with respect to replacement modules deployed by POSCO Energy at Gyenonggi Green Energy and other sites for which POSCO Energy has not paid royalties, and (ii) an unfiled claim by POSCO Energy in an unknown amount with respect to a series of purchase orders for materials and components which began in 2014 under a supply chain contract, both of which claims remain unsettled. The Company does not believe the claim by POSCO Energy with respect to purchase orders for materials and components under the supply chain contract has merit and the Company retains the right to file a counterclaim for damages it believes it has incurred with respect to such supply chain contract. With respect to , the Settlement Agreement provides that, within five days of the date of the Settlement Agreement, POSCO Energy will file an application with the Seoul Central District Court to revoke the attachments. The Seoul Central District Court has received the application, and the Company is in the process of recovering the outstanding KOSPO accounts receivable of approximately Under the Settlement Agreement, the parties have also agreed that, within five days of the date thereof, the Company will withdraw its objection to the spin-off of KFC from POSCO Energy, and that the License Agreements are not terminated, but instead are deemed to be amended such that PE Group only has the Right to Service License (as defined above). POSCO Energy and KFC further agree that, as of the date of the Settlement Agreement, the License Agreements are deemed to be amended such that the Company exclusively enjoys all rights as to its technology in Korea and Asia, other than the Right to Service License. The Settlement Agreement further provides that the License Agreements will terminate automatically upon sixty days prior written notice to PE Group if (i) the Company enters into a business collaboration agreement with a Korean company to construct, assemble, manufacture, market, sell, distribute, import, export, install, commission, service, maintain, or repair products incorporating the Company’s technology, or otherwise conduct the Company’s business, in the Korean market; or (ii) the Company expands the capacity of its existing Korean entity such as to perform such activities itself. In the event of the termination of the License Agreements, the license granted to PE Group under the Right to Service License will continue notwithstanding the termination of the License Agreements, except that PE Group’s right to own, operate, and maintain all facilities and factories for the purpose of servicing any orders or requests made by the Company will terminate. For the avoidance of doubt, pursuant to the terms of the Settlement Agreement, PE Group has no right to manufacture modules or any other product incorporating the Company’s technology under the License Agreements as amended, the Right to Service License or otherwise unless requested and authorized by the Company to do so. The Settlement Agreement further provides that, in order to service its existing customers under the Existing LTSAs, KFC will place a firm, non-cancelable order for twelve SureSource 3000 modules within two weeks after the date of the Settlement Agreement and an additional firm, non-cancelable order for eight SureSource 3000 modules on or before June 30, 2022, all at a price of $3.0 million per module. In addition, KFC agrees to use commercially reasonable efforts to order fourteen additional SureSource 3000 modules by December 31, 2022, at a price of $3.0 million per module if ordered by such date. If KFC materially breaches the Settlement Agreement by failing to make timely and full payment for the modules for which KFC is required to place orders under the Settlement Agreement and does not cure such material breach within fifteen days of notice of such breach by the Company, the License Agreements and the Right to Service License granted to PE Group will be terminated. If the Company materially breaches the Settlement Agreement by failing to supply the modules for which KFC is required to place orders under the Settlement Agreement, as long as KFC has made the payment for such modules and has otherwise satisfied its contractual obligations for those modules and such material breach is not cured within sixty days after notice from PE Group, PE Group will have the right to terminate the Settlement Agreement. With respect to any other alleged breach, material or otherwise, of the Settlement Agreement, the parties’ exclusive remedy consists solely of general damages. The Company received a firm, non-cancelable order from KFC for twelve SureSource 3000 modules. Six of these modules were delivered Ex Works from the Company’s facility in Torrington, Connecticut in January 2022. Pursuant to the Settlement Agreement, with respect to new modules to be supplied by the Company and deployed by PE Group to its existing customers, the Company will provide its standard warranty against module defects until the earlier of eighteen months from the date of shipment or twelve months from the date of installation. As part of the global settlement of the disputes among the parties and subject to the qualifications set forth in the Settlement Agreement, the Company will reimburse PE Group for any annual output penalty amount paid by PE Group to its customers pursuant to Existing LTSAs (whether such Existing LTSA is extended or renewed), caused by a shortfall or defect in the new modules for a period of up to seven years. The maximum annual reimbursement obligation with regard to any PE Group customer for any new module provided by the Company will not exceed an amount equal to 7.5% per year of the module purchase price. The Company will not be required to reimburse PE Group for any penalty paid by PE Group under the Existing LTSAs that is not caused by a shortfall or defect in the modules to be supplied by the Company including, without limitation, any shortfall or defect caused by a site-related problem, a problem with the balance of plant, or other components of the project. Although the Company has the exclusive and unrestricted right under the Settlement Agreement to perform, pursue, and otherwise conduct its business in relation to new fuel cell projects (including new projects with PE Group’s existing customers) in Korea and Asia, the parties have agreed that, except as further provided in the Settlement Agreement with respect to PE Group’s existing customers Noeul Green Energy and Godeok Green Energy, the Company will not engage in discussions with PE Group’s existing customers regarding Existing LTSAs without PE Group’s consent. The parties have further agreed that if PE Group cannot enter into an agreement with its existing customers to extend or renew Existing LTSAs by December 31, 2022, PE Group will cooperate with the Company so that the Company may discuss and, at the Company’s sole discretion, enter into an extension of an Existing LTSA, a new long-term service agreement to replace an Existing LTSA, or a module sales agreement with PE Group’s existing customers; provided that (i) should the Company enter into such an arrangement with a PE Group existing customer, (ii) the Company is required to provide replacement modules to such existing customer under such arrangement, and (iii) PE Group has not already deployed all or some the modules that PE Group ordered under Settlement Agreement, the Company will purchase the number of required replacement modules from PE Group at a price of $3.0 million per module (to the extent such modules are available and have not yet been deployed). The purchase of such replacement modules by the Company is contingent upon the modules being in proper condition as determined by inspection process to be agreed by the parties. Any modules purchased by the Company from PE Group under these terms will be included as part of the firm orders KFC is required to make pursuant to the Settlement Agreement. With respect to operations and maintenance agreements, the Settlement Agreement provides that KFC will have the right of first refusal on providing operation and maintenance services on commercially reasonable terms for new long-term service agreements entered into by the Company in Korea for a period of the first to occur of either twenty-four months after the date of the Settlement Agreement or until such time as the Company engages a third party capable of providing such services in Korea. If KFC and the Company agree that KFC should provide operation and maintenance services pursuant to the right of first refusal, KFC and the Company will enter into one or more operation and maintenance agreements that reflect commercially reasonable terms and conditions as agreed by KFC and the Company at that time. With respect to BOP, KFC currently has eight units of BOP available, and the Settlement Agreement provides that the Company has the option to purchase such units of BOP for any new molten carbonate fuel cell projects within Korea at a price of KRW 2,550,000,000 (or USD $2,116,500) per unit. The Company will also have a non-exclusive, non-transferrable, non-sublicensable license to use the intellectual property imbedded in the BOP units in Korea in consideration for a reasonable license fee to be separately agreed by the parties. Detailed terms and conditions of BOP and related software and firmware supply will be discussed and agreed in good faith in separate BOP supply agreements in the event the Company exercises its option to purchase any of such BOP. As described above, the Company retained outside counsel on a contingency basis to pursue its claims against POSCO Energy and KFC, and outside counsel entered into an agreement with a litigation finance provider to fund the legal fees and expenses of the arbitration proceedings brought by the Company against POSCO Energy and KFC. As the Company has entered into the Settlement Agreement, it is required to remit fees to its counsel, Wiley Rein, LLP (“Wiley”), subject to the terms of its engagement letter with Wiley. On December 23, 2021, the Company agreed that it would pay Wiley a total of $24.0 million to satisfy all obligations to Wiley under the Company’s engagement letter (which is included in Administrative and selling expenses on the Consolidated Statements of Operations and Comprehensive Loss). Of this amount, $14.0 million was paid on December 30, 2021, $5.0 million will be paid on or before March 30, 2022, and $5.0 million will be paid on or before June 30, 2022. Other Legal Proceedings From time to time, the Company is involved in other legal proceedings, including, but not limited to, regulatory proceedings, claims, mediations, arbitrations and litigation, arising out of the ordinary course of its business (“Other Legal Proceedings”). Although the Company cannot assure the outcome of such Other Legal Proceedings, management presently believes that the result of such Other Legal Proceedings, either individually, or in the aggregate, will not have a material adverse effect on the Company’s consolidated financial statements, and no material amounts have been accrued in the Company’s consolidated financial statements with respect to these matters.

Nature of Business, Basis of _2

Nature of Business, Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Jan. 31, 2022
Nature of Business, Basis of Presentation and Significant Accounting Policies
Nature of Business and Basis of Presentation	Headquartered in Danbury, Connecticut, FuelCell Energy, Inc. (together with its subsidiaries, the “Company,” “FuelCell Energy,” “we,” “us,” or “our”) has leveraged five decades of research and development to become a global leader in delivering environmentally responsible distributed baseload power platform solutions through our proprietary fuel cell technology. As an innovator and an American manufacturer of clean fuel cell power platforms, our current commercial technology delivers clean, distributed generation and distributed hydrogen, as well as heat, carbon separation and utilization, and water. We plan to increase our investment in developing and commercializing future technologies expected to deliver hydrogen and long duration hydrogen-based energy storage through our solid oxide technologies, as well as carbon capture solutions. As a leading global manufacturer of proprietary fuel cell technology platforms, we are uniquely positioned to serve customers worldwide with sustainable products and solutions for businesses, utilities, governments, and municipalities. Our solutions are designed to enable a world empowered by clean energy, enhancing the quality of life for people around the globe. We target large-scale power users with our megawatt-class installations globally, and currently offer sub-megawatt solutions for smaller power consumers in Europe. To provide a frame of reference, one megawatt is adequate to continually power approximately 1,000 average sized U.S. homes. Our customer base includes utility companies, municipalities, universities, hospitals, government entities/military bases and a variety of industrial and commercial enterprises. Our leading geographic markets are currently the United States and South Korea, and we are pursuing opportunities in other countries around the world. Our product offerings drive our mission to help our customers realize their environmental goals, strengthen resiliency, manage energy and other commodity costs, and deliver valuable goods and services to their customers.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial information. Accordingly, they do not contain all of the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of management, all normal and recurring adjustments necessary to fairly present the Company’s financial position and results of operations as of and for the three months ended January 31, 2022 and 2021 have been included. All intercompany accounts and transactions have been eliminated. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The balance sheet as of October 31, 2021 has been derived from the audited financial statements at that date, but it does not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements should be read in conjunction with the Company’s financial statements and notes thereto for the fiscal year ended October 31, 2021, which are contained in the Company’s Annual Report on Form 10-K previously filed with the SEC. The results of operations for the interim periods presented are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year.
Principles of Consolidation	Principles of Consolidation The unaudited consolidated financial statements reflect our accounts and operations and those of our subsidiaries in which we have a controlling financial interest. We use a qualitative approach in assessing the consolidation requirement for each of our variable interest entities ("VIEs"), which are tax equity partnerships further described in Note 3. “Tax Equity Financings.” This approach focuses on determining whether we have the power to direct those activities of the tax equity partnerships that most significantly affect their economic performance and whether we have the obligation to absorb losses, or the right to receive benefits, that could potentially be significant to the tax equity partnerships. For all periods presented, we have determined that we are the primary beneficiary in all of our operational tax equity partnerships. We evaluate our relationships on an ongoing basis to ensure that we continue to be the primary beneficiary. All intercompany transactions and balances have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Estimates are used in accounting for, among other things, revenue recognition, contract loss accruals, excess, slow-moving and obsolete inventories, product warranty accruals, loss accruals on service agreements, share-based compensation expense, allowance for doubtful accounts, depreciation and amortization, impairment of goodwill and in-process research and development intangible assets, impairment of long-lived assets (including project assets), lease liabilities and right-of-use (“ROU”) assets, and contingencies. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from those estimates.
Liquidity	Liquidity Our principal sources of cash have been sales of our common stock through public equity offerings, proceeds from third party debt, project financing and tax monetization transactions, proceeds from the sale of our projects as well as research and development and service agreements with third parties. We have utilized this cash to develop and construct project assets, perform research and development on Advanced Technologies, pay down existing outstanding indebtedness, and meet our other cash and liquidity needs. As of January 31, 2022, unrestricted cash and cash equivalents totaled $377.0 million compared to $432.2 million as of October 31, 2021. On June 11, 2021, the Company entered into an Open Market Sale Agreement with Jefferies LLC and Barclays Capital Inc. with respect to an at the market offering program under which the Company may, from time to time, offer and sell shares of the Company’s common stock having an aggregate offering price of up to $500 million. From the date of the Open Market Sale Agreement through January 31, 2022, approximately 44.1 million shares were sold, resulting in gross proceeds to the Company totaling approximately $377.2 million before deducting expenses and sales commissions. Net proceeds to the Company totaled approximately $369.7 million. The Company plans to use the net proceeds from this offering to accelerate the development and commercialization of our Advanced Technologies products, including our solid oxide platform, for project development, for internal research and development, to invest in capacity expansion for solid oxide and carbonate fuel cell manufacturing, and for project financing, working capital support, and general corporate purposes. The remaining availability under the Open Market Sale Agreement as of the date of filing of this report is approximately $122.8 million. See Note 13. “Stockholders’ Equity and Warrant Liabilities” for additional information regarding the Open Market Sale Agreement. We believe that our unrestricted cash and cash equivalents, expected receipts from our contracted backlog, and release of short-term restricted cash less expected disbursements over the next twelve months will be sufficient to allow the Company to meet its obligations for at least one year from the date of issuance of these financial statements. To date, we have not achieved profitable operations or sustained positive cash flow from operations. The Company’s future liquidity, in fiscal year 2022 and in the long-term, will depend on its ability to (i) timely complete current projects in process within budget, (ii) increase cash flows from its generation operating portfolio, including by meeting conditions required to timely commence operation of new projects, operating its generation operating portfolio in compliance with minimum performance guarantees and operating its generation operating portfolio in accordance with revenue expectations, (iii) obtain financing for project construction, (iv) obtain permanent financing for its projects once constructed, (v) increase order and contract volumes, which would lead to additional product sales, service agreements and generation revenues, (vi) obtain funding for and receive payment for research and development under current and future Advanced Technologies contracts, (vii) successfully commercialize its Advanced Technologies platforms, including its solid oxide, hydrogen and carbon capture platforms, (viii) implement the product cost reductions necessary to achieve profitable operations, (ix) manage working capital and the Company’s unrestricted cash balance and (x) access the capital markets to raise funds through the sale of equity securities, convertible notes, and other equity-linked instruments. We are continually assessing different means by which to accelerate the Company’s growth, enter new markets, commercialize new products, and enable capacity expansion. Therefore, from time to time, the Company may consider and enter into agreements for one or more of the following: negotiated financial transactions, minority investments, collaborative ventures, technology sharing, transfer or other technology license arrangements, joint ventures, partnerships, acquisitions or other business transactions for the purpose(s) of geographic or manufacturing expansion and/or new product or technology development and commercialization, including hydrogen production and storage and carbon capture, sequestration and utilization technologies. Our business model requires substantial outside financing arrangements and satisfaction of the conditions of such financing arrangements to construct and deploy our projects and facilitate the growth of our business. The Company has invested capital raised from sales of its common stock to build out its project portfolio. The Company has also utilized and expects to continue to utilize a combination of long-term debt and tax equity financing (e.g., sale-leaseback and partnership transactions) to finance its project asset portfolio as these projects commence commercial operations. The Company may also utilize the proceeds from private placements of debt securities of a portfolio of assets to finance its project asset portfolio. The proceeds of any such financing, if obtained, may allow the Company to recycle capital back to the business and to fund other projects. We may also seek to obtain additional financing in both the debt and equity markets in the future. If financing is not available to us on acceptable terms if and when needed, or on terms acceptable to us or our lenders, if we do not satisfy the conditions of our financing arrangements, if we spend more than the financing approved for projects, if project costs exceed an amount that the Company can finance, or if we do not generate sufficient revenues or obtain capital sufficient for our corporate needs, we may be required to reduce or slow planned spending, reduce staffing, sell assets, seek alternative financing and take other measures, any of which could have a material adverse effect on our financial condition and operations.
Recent Accounting Pronouncements	Note 2. Recent Accounting Pronouncements Recently Adopted Accounting Guidance There is no recently adopted accounting guidance. Recent Accounting Guidance Not Yet Effective There is no recent accounting guidance not yet effective that is expected to have a material impact on the Company’s financial statements when adopted.
Recent Accounting Guidance Not Yet Effective	Recent Accounting Guidance Not Yet Effective There is no recent accounting guidance not yet effective that is expected to have a material impact on the Company’s financial statements when adopted.

Accounts Receivable, Net and _2

Accounts Receivable, Net and Unbilled Receivables (Tables)	3 Months Ended
Accounts Receivable, Net and Unbilled Receivables (Tables)	Jan. 31, 2022
Accounts Receivable, Net and Unbilled Receivables
Schedule of Accounts Receivable, Net and Unbilled Receivables	Accounts receivable, net and Unbilled receivables as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Commercial Customers: Amount billed $ 30,009 $ 13,854 Unbilled receivables (1) 10,077 7,175 40,086 21,029 Advanced Technologies (including U.S. government (2) Amount billed 693 876 Unbilled receivables 3,481 1,749 4,174 2,625 Accounts receivable, net and unbilled receivables $ 44,260 $ 23,654 (1) Additional long-term unbilled receivables of $11.3 million and $11.6 million are included within “Other Assets” as of January 31, 2022 and October 31, 2021, respectively. (2) Total U.S. government accounts receivable, including unbilled receivables, outstanding as of January 31, 2022 and October 31, 2021 were $1.7 million and $2.3 million, respectively.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Jan. 31, 2022
Inventories
Components of Inventories	Inventories (short and long-term) as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Raw materials $ 27,914 $ 25,968 Work-in-process (1) 42,058 45,692 Inventories 69,972 71,660 Inventories – short-term (65,386) (67,074) Inventories – long-term (2) $ 4,586 $ 4,586 (1) Work-in-process includes the standard components of inventory used to build the typical modules or module components that are intended to be used in future project asset construction or power plant orders or for use under the Company’s service agreements. Included in work-in-process as of January 31, 2022 and October 31, 2021 was $26.5 million and $39.7 million, respectively, of completed standard components and modules. (2) Long-term inventory includes modules that are contractually required to be segregated for use as exchange modules for specific project assets.

Project Assets (Tables)

Project Assets (Tables)	3 Months Ended
Project Assets (Tables)	Jan. 31, 2022
Project Assets
Summary of Project Assets	Project assets as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, Estimated 2022 2021 Useful Life Project Assets – Operating $ 165,461 $ 116,286 5 Accumulated depreciation (20,451) (19,844) Project Assets – Operating, net 145,010 96,442 Project Assets – Construction in progress 90,592 126,835 7-20 years Project Assets, net $ 235,602 $ 223,277

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Jan. 31, 2022
Goodwill and Intangible Assets
Summary of Intangible Assets	The following tables summarize the Company’s intangible assets as of January 31, 2022 and October 31, 2021 (in thousands): As of January 31, 2022 Gross Amount Accumulated Amortization Net Amount In-Process Research and Development $ 9,592 $ — $ 9,592 Bridgeport PPA 12,320 (3,566) 8,754 Total $ 21,912 $ (3,566) $ 18,346 As of October 31, 2021 Gross Amount Accumulated Amortization Net Amount In-Process Research and Development $ 9,592 $ — $ 9,592 Bridgeport PPA 12,320 (3,242) 9,078 Total $ 21,912 $ (3,242) $ 18,670

Other Current Assets (Tables)

Other Current Assets (Tables)	3 Months Ended
Other Current Assets (Tables)	Jan. 31, 2022
Other Current Assets
Schedule of Other Current Assets	Other current assets as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Advance payments to vendors (1) $ 4,409 $ 4,005 Prepaid expenses and other (2) 5,355 5,172 Other current assets $ 9,764 $ 9,177 (1) Advance payments to vendors relate to payments for inventory purchases ahead of receipt. (2) Primarily relates to other prepaid vendor expenses including insurance expense.

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
Other Assets (Tables)	Jan. 31, 2022
Other Assets
Schedule of Other Assets	Other assets as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Long-term stack residual value (1) $ — $ 263 Long-term unbilled receivables (2) 11,316 11,581 Other (3) 6,924 5,154 Other assets $ 18,240 $ 16,998 (1) Relates to estimated residual value for module exchanges performed under the Company’s service agreements where the useful life extends beyond the contractual term of the service agreement and the Company obtains title for the module from the customer upon expiration or non-renewal of the service agreement. If the Company does not obtain rights to title from the customer, the full cost of the module is expensed at the time of the module exchange. (2) Represents unbilled receivables that relate to revenue recognized on customer contracts that will be billed in future periods in excess of 12 months from the balance sheet date. (3) The Company entered into an agreement with one of its customers on June 29, 2016 which includes payments for the purchase of the customer’s power platforms by the Company at the end of the term of the agreement. The payments are to be made in installments over the term of the agreement and the total amount paid as of each of January 31, 2022 and October 31, 2021 was $2.2 million. Also included within “Other” are long-term security deposits and prepaid withholding taxes on deferred revenue as of January 31, 2022 and October 31, 2021.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
Accrued Liabilities (Tables)	Jan. 31, 2022
Accrued Liabilities
Schedule of Accrued Liabilities	Accrued liabilities as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Accrued payroll and employee benefits $ 2,723 $ 2,544 Accrued product warranty cost (1) 297 72 Accrued service agreement and PPA costs (2) 8,667 9,112 Accrued legal, taxes, professional and other (3) 14,301 4,371 Accrued liabilities $ 25,988 $ 16,099 (1) The increase in accrued product warranty cost reflects the costs associated with the warranties provided under the POSCO Energy Settlement Agreement. Product warranty expense for the three months ended January 31, 2022 and 2021 was $0.2 million and $0.03 million, respectively. (2) Accrued service agreement costs include loss accruals on service agreements of $5.8 million and $6.5 million as of January 31, 2022 and October 31, 2021, respectively. The decrease is the result of realization of losses for the quarter ended January 31, 2022. The accruals for performance guarantees on service agreements and PPAs increased from $2.5 million as of October 31, 2021 to $2.7 million as of January 31, 2022. (3) The increase in legal accrual reflects the $10 million payable to Wiley Rein, LLP out of the agreed $24 million related to the Settlement Agreement as $14 million was paid on December 30, 2021.

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Jan. 31, 2022
Leases
Summary of Undiscounted Maturities of Operating Lease and Finance Lease Liabilities	Undiscounted maturities of operating lease and finance lease liabilities are as follows: Operating Leases Finance Leases Due Year 1 $ 1,515 $ 53 Due Year 2 1,002 49 Due Year 3 854 — Due Year 4 774 — Due Year 5 779 — Thereafter 13,998 — Total undiscounted lease payments 18,922 102 Less imputed interest (10,088) (11) Total discounted lease payments $ 8,834 $ 91

Stockholders' Equity and Warr_2

Stockholders' Equity and Warrant Liabilities (Tables)	3 Months Ended
Stockholders' Equity and Warrant Liabilities (Tables)	Jan. 31, 2022
Stockholders' Equity and Warrant Liabilities
Schedule of Warrant Activity	The following table summarizes outstanding warrant activity during the three months ended January 31, 2022: Series C Warrants Balance as of October 31, 2021 950,102 Warrants issued — Warrants exercised — Balance as of January 31, 2022 950,102

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
Loss Per Share (Tables)	Jan. 31, 2022
Loss Per Share
Calculation of Basic and Diluted Loss Per Share	The calculation of basic and diluted loss per share was as follows: Three Months Ended January 31, 2022 2021 Numerator Net loss attributable to FuelCell Energy, Inc. $ (40,624) $ (45,960) Series B preferred stock dividends (800) (800) Net loss attributable to common stockholders $ (41,424) $ (46,760) Denominator Weighted average common shares outstanding – basic 366,734,739 312,109,888 Effect of dilutive securities (1) — — Weighted average common shares outstanding – diluted 366,734,739 312,109,888 Net loss to common stockholders per share – basic $ (0.11) $ (0.15) Net loss to common stockholders per share – diluted (1) $ (0.11) $ (0.15) (1) Due to the net loss to common stockholders in each of the periods presented above, diluted loss per share was computed without consideration to potentially dilutive instruments as their inclusion would have been anti-dilutive. As of January 31, 2022 and 2021, potentially dilutive securities excluded from the diluted loss per share calculation are as follows:
Schedule of Potentially Dilutive Securities Excluded from the Diluted Loss Per Share Calculation	January 31, January 31, 2022 2021 May 2017 Offering – Series C Warrants 950,102 964,128 Outstanding options to purchase common stock 22,432 23,891 Unvested Restricted Stock Awards — 538 Unvested Restricted Stock Units 3,276,776 2,914,459 5% Series B Cumulative Convertible Preferred Stock 37,837 37,837 Total potentially dilutive securities 4,287,147 3,940,853

Restricted Cash (Tables)

Restricted Cash (Tables)	3 Months Ended
Restricted Cash (Tables)	Jan. 31, 2022
Restricted Cash.
Summary of Allocation of Restricted Cash	January 31, October 31, 2022 2021 Cash Restricted for Outstanding Letters of Credit (1) $ 4,891 $ 6,478 Cash Restricted for PNC Sale-Leaseback Transactions (2) 4,045 5,514 Cash Restricted for Crestmark Sale-Leaseback Transactions (3) 2,888 2,887 Bridgeport Fuel Cell Park Project Debt Service and Performance Reserves (4) 14,528 11,937 Other 2,116 1,183 Total Restricted Cash 28,468 27,999 Restricted Cash and Cash Equivalents – Short-Term (5) (12,643) (11,268) Restricted Cash and Cash Equivalents – Long-Term $ 15,825 $ 16,731 (1) Letters of credit outstanding as of January 31, 2022 expire on various dates through August 2028. (2) Long and short-term reserve that is to be used primarily to fund future module exchanges for operating projects falling under the PNC sale leaseback obligations. The decrease in restricted cash at January 31, 2022 compared to October 31, 2021 is a result of the Company’s performance in completing certain module replacements, which resulted in cash being categorized as unrestricted. (3) Long and short-term reserve that is to be used primarily to fund future module exchanges and other performance obligations. (4) Long and short-term reserves for the Bridgeport Fuel Cell Park Project to fund future module exchanges and other performance requirements. (5) Short-term restricted cash and cash equivalents are amounts expected to be released and categorized as unrestricted cash within twelve months of the balance sheet date.

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Jan. 31, 2022
Debt
Schedule of Debt	Debt as of January 31, 2022 and October 31, 2021 consisted of the following (in thousands): January 31, October 31, 2022 2021 Connecticut Green Bank Loan 4,800 4,800 Connecticut Green Bank Loan (Bridgeport Fuel Cell Project) 4,121 4,318 Liberty Bank Term Loan Agreement (Bridgeport Fuel Cell Project) 6,944 7,465 Fifth Third Bank Term Loan Agreement (Bridgeport Fuel Cell Project) 6,944 7,465 Finance obligation for sale-leaseback transactions 56,381 56,492 State of Connecticut Loan 8,412 8,622 Finance lease obligations 91 102 Deferred finance costs (1,447) (1,556) Total debt and financing obligations $ 86,246 $ 87,708 Current portion of long-term debt and financing obligations (9,722) (10,085) Long-term debt and financing obligations $ 76,524 $ 77,623

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
Benefit Plans (Tables)	Jan. 31, 2022
Benefit Plans
Schedule of Share-Based Compensation Reflected in Consolidated Statement of Operations and Comprehensive Loss	Share-based compensation was reflected in the Consolidated Statements of Operations and Comprehensive Loss as follows (in thousands): Three months Ended January 31, 2022 2021 Cost of revenues $ 153 $ 178 General and administrative expense 1,178 1,163 Research and development expense 78 30 $ 1,409 $ 1,371
Summary of RSA and RSU Activity	The following table summarizes our RSA and RSU activity for the three months ended January 31, 2022: Restricted Stock Awards and Units Shares Weighted-Average Fair Value Outstanding as of October 31, 2021 2,543,541 $ 5.08 Granted – performance units 169,026 11.70 Granted – time-vesting restricted stock units 652,597 9.20 Vested (88,388) 3.54 Outstanding as of January 31, 2022 3,276,776 $ 6.27

Nature of Business, Basis of _3

Nature of Business, Basis of Presentation and Significant Accounting Policies - Additional Information (Details) $ in Thousands	Jun. 11, 2021USD ($)	Aug. 31, 2021USD ($)MW	Jul. 31, 2021USD ($)shares	Jan. 31, 2022USD ($)shares	Jan. 31, 2021shares	Jan. 31, 2022USD ($)shares	Oct. 31, 2021USD ($)shares	Oct. 31, 2020shares
Nature Of Business And Basis Of Presentation [Line Items]
Cash and cash equivalents, unrestricted				$ 376,963		$ 376,963	$ 432,213
Redeemable noncontrolling interests				$ 15,449		$ 15,449	$ 3,030
Common stock, shares outstanding \| shares				366,686,186		366,686,186	366,618,693
Common stock, shares authorized \| shares				500,000,000		500,000,000	500,000,000
Operating lease liability				$ 8,834		$ 8,834
Operating lease right-of-use assets, net				7,877		7,877	$ 8,109
Variable interest entity ("VIE")
Nature Of Business And Basis Of Presentation [Line Items]
Cash and cash equivalents, unrestricted				5,167		5,167	$ 1,364
Operating lease right-of-use assets, net				$ 1,192		$ 1,192
East West Bank Partnership Flip Transaction
Nature Of Business And Basis Of Presentation [Line Items]
Capacity of plant \| MW		7.4
Tax Equity Financing Commitment		$ 15,000
Common Stock
Nature Of Business And Basis Of Presentation [Line Items]
Stock issued during period shares new issues \| shares					25,000,000
Common stock, shares outstanding \| shares				366,686,186	322,412,296	366,686,186	366,618,693	294,706,758
Common Stock \| At Market Issuance Sales Agreement \| Jefferies LLC
Nature Of Business And Basis Of Presentation [Line Items]
Aggregate offering price	$ 500,000
Stock issued during period shares new issues \| shares			44,100,000	0		44,100,000
Gross proceeds from issuance of common stock						$ 377,200
Net proceeds from issuance of common stock	377,200		$ 369,700	$ 377,200		369,700
Sale agreement, common stock, value, available for issuance	$ 122,800			$ 122,800		$ 122,800

Tax Equity Financing (Details)

Tax Equity Financing (Details) $ in Millions	Dec. 31, 2021USD ($)	Aug. 04, 2021USD ($)	Nov. 30, 2021USD ($)MW	Aug. 31, 2021USD ($)MW	Jan. 31, 2022USD ($)
Tax Equity Financing
Net income attributable to redeemable noncontrolling interest					$ 5.5
East West Bank Partnership Flip Transaction
Tax Equity Financing
Capacity of plant \| MW				7.4
Tax equity financing commitment				$ 15
Initial draw		$ 3
Closing costs		0.8
Remaining amount of draw		$ 12
Percentage of cash and tax allocations to be received				95.00%
REI Partnership Flip Transaction
Tax Equity Financing
Capacity of plant \| MW			7.4
Tax equity financing commitment			$ 12.4
Initial draw	$ 3.2
Closing costs	$ 0.4
Remaining amount of draw					9.2
Legal and advisory fees					$ 0.3
Percentage of cash and tax allocations to be received			95.00%
Percentage of amount payable			10.30%

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) $ in Thousands	Dec. 20, 2021USD ($)item	Oct. 29, 2021USD ($)	Jan. 31, 2022USD ($)	Jan. 31, 2021USD ($)	Oct. 31, 2021USD ($)
Disaggregation Of Revenue [Line Items]
Contract asset			$ 24,900		$ 20,500
Contract liability			34,500		$ 36,700
Research and development expenses			4,984	$ 1,823
Emre joint development agreement [Member]
Disaggregation Of Revenue [Line Items]
Milestone based payments			5,000
Investment Amount		$ 5,000	5,000
Discount on purchase of fuel cell module			5,000
POSCO Energy Settlement Agreement
Disaggregation Of Revenue [Line Items]
Deferred revenue	$ 22,200
Number of modules \| item	2
Stand alone selling price per sale module	$ 3,000
Extended warranty term	7 years
Stand alone selling price per warranty module	$ 670
Option to purchase additional warranty module units \| item	14
Modules units, order placed \| item	20
Product
Disaggregation Of Revenue [Line Items]
Remaining performance obligations			60,200
Service Agreements [Member]
Disaggregation Of Revenue [Line Items]
Remaining performance obligations			123,700
Advanced Technologies Contracts [Member]
Disaggregation Of Revenue [Line Items]
Remaining performance obligations			31,700
Posco Energy
Disaggregation Of Revenue [Line Items]
Deferred revenue			$ 22,200

Accounts Receivable, Net and _3

Accounts Receivable, Net and Unbilled Receivables - Schedule of Accounts Receivable, Net and Unbilled Receivables (Details) - USD ($) $ in Thousands		Jan. 31, 2022	Oct. 31, 2021
Accounts Receivable, Net and Unbilled Receivables
Amount billed		$ 30,009	$ 13,854
Unbilled receivables	[1]	10,077	7,175
Commercial customers accounts receivable		40,086	21,029
Advanced Technologies including U.S. government, Amount billed	[2]	693	876
Advanced Technologies including U.S. government, Unbilled receivables	[2]	3,481	1,749
Advanced Technologies including U.S. government, Accounts receivable	[2]	4,174	2,625
Accounts receivable, net and unbilled receivables		$ 44,260	$ 23,654

[1]	Additional long-term unbilled receivables of $11.3 million and $11.6 million are included within “Other Assets” as of January 31, 2022 and October 31, 2021, respectively.
[2]	Total U.S. government accounts receivable, including unbilled receivables, outstanding as of January 31, 2022 and October 31, 2021 were $1.7 million and $2.3 million, respectively.

Accounts Receivable, Net and _4

Accounts Receivable, Net and Unbilled Receivables - Schedule of Accounts Receivable, Net and Unbilled Receivables (Parenthetical) (Details) - USD ($) $ in Thousands		Jan. 31, 2022	Oct. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Additional long-term unbilled receivables	[1]	$ 10,077	$ 7,175
Government [Member]
Accounts Notes And Loans Receivable [Line Items]
U.S. government accounts receivable, including unbilled receivables		1,700	2,300
Other Assets [Member]
Accounts Notes And Loans Receivable [Line Items]
Additional long-term unbilled receivables		$ 11,300	$ 11,600

[1]	Additional long-term unbilled receivables of $11.3 million and $11.6 million are included within “Other Assets” as of January 31, 2022 and October 31, 2021, respectively.

Accounts Receivable, Net and _5

Accounts Receivable, Net and Unbilled Receivables - Additional Information (Details) - USD ($)	Jan. 31, 2022	Jan. 31, 2021
Accounts Receivable, Net and Unbilled Receivables
Allowance for doubtful accounts receivable, current	$ 0	$ 0

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands		Jan. 31, 2022	Oct. 31, 2021
Inventories
Raw materials		$ 27,914	$ 25,968
Work-in-process	[1]	42,058	45,692
Inventories		69,972	71,660
Inventories - short-term		(65,386)	(67,074)
Inventories - long-term	[2]	$ 4,586	$ 4,586

[1]	Work-in-process includes the standard components of inventory used to build the typical modules or module components that are intended to be used in future project asset construction or power plant orders or for use under the Company’s service agreements. Included in work-in-process as of January 31, 2022 and October 31, 2021 was $26.5 million and $39.7 million, respectively, of completed standard components and modules.
[2]	Long-term inventory includes modules that are contractually required to be segregated for use as exchange modules for specific project assets.

Inventories - Components of I_2

Inventories - Components of Inventories (Parenthetical) (Details) - USD ($) $ in Millions	Jan. 31, 2022	Oct. 31, 2021
Inventories
Completed standard component and modules	$ 26.5	$ 39.7

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Jan. 31, 2022	Jan. 31, 2021	Oct. 31, 2021
Inventory [Line Items]
Accrued product warranty cost	[1]	$ 297		$ 72
Computer and Office Equipment and Manufacturing Facilities [Member]
Inventory [Line Items]
Fixed asset impairment charge		1,000
Accrued product warranty cost		200
Costs of Revenues
Inventory [Line Items]
Excess plant capacity and manufacturing variances cost incurred		$ 3,200	$ 2,000

[1]	The increase in accrued product warranty cost reflects the costs associated with the warranties provided under the POSCO Energy Settlement Agreement. Product warranty expense for the three months ended January 31, 2022 and 2021 was $0.2 million and $0.03 million, respectively.

Project Assets - Summary of Pro

Project Assets - Summary of Project Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2022	Oct. 31, 2021
Project Assets [Line Items]
Accumulated depreciation	$ (20,451)	$ (19,844)
Project Assets, net	235,602	223,277
Project Assets - Operating [Member]
Project Assets [Line Items]
Project Assets, gross	165,461	116,286
Project Assets - Operating, net	$ 145,010	96,442
Project Assets - Operating [Member] \| Minimum
Project Assets [Line Items]
Project assets estimated useful life	5 years
Project Assets - Operating [Member] \| Maximum
Project Assets [Line Items]
Project assets estimated useful life	20 years
Project Assets - Construction in progress [Member]
Project Assets [Line Items]
Project Assets, gross	$ 90,592	$ 126,835
Project Assets - Construction in progress [Member] \| Minimum
Project Assets [Line Items]
Project assets estimated useful life	7 years
Project Assets - Construction in progress [Member] \| Maximum
Project Assets [Line Items]
Project assets estimated useful life	20 years
Project Assets BOP And Site Construction [Member]
Project Assets [Line Items]
Project assets estimated useful life	20 years
Project Assets Modules [Member] \| Minimum
Project Assets [Line Items]
Project assets estimated useful life	4 years
Project Assets Modules [Member] \| Maximum
Project Assets [Line Items]
Project assets estimated useful life	7 years

Project Assets - Additional Inf

Project Assets - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jan. 31, 2022USD ($)projectMW	Oct. 31, 2021USD ($)project
Project Assets [Line Items]
Number of project assets \| project	10	9
Total number of projects \| project	3
Long-term project assets construction in progress	$ 90,600	$ 126,800
Impairment of property, plant and equipment	976
Long Term Project Assets	235,602	223,277
Power Purchase Agreement
Project Assets [Line Items]
Sale leaseback transaction, net book value	$ 145,000	$ 96,400
Toyota Project [Member]
Project Assets [Line Items]
Power capacity under construction phase \| MW	2.3
impairment charges	$ 2,800

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Oct. 31, 2021
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 4,075	$ 4,100	$ 4,075
Intangible assets, net	18,346		$ 18,670
Bridgeport Fuel Cell, LLC
Goodwill And Intangible Assets [Line Items]
Amortization expenses	$ 300	$ 300

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Oct. 31, 2021
Finite Lived Intangible Assets [Line Items]
Gross Amount	$ 21,912	$ 21,912
Accumulated Amortization	(3,566)	(3,242)
Net Amount	18,346	18,670
Bridgeport PPA
Finite Lived Intangible Assets [Line Items]
Gross Amount	12,320	12,320
Accumulated Amortization	(3,566)	(3,242)
Net Amount	8,754	9,078
In Process Research And Development
Finite Lived Intangible Assets [Line Items]
Gross Amount	9,592	9,592
Net Amount	$ 9,592	$ 9,592

Other Current Assets - Schedule

Other Current Assets - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands		Jan. 31, 2022	Oct. 31, 2021
Other Current Assets
Advance payments to vendors	[1]	$ 4,409	$ 4,005
Prepaid expenses and other	[2]	5,355	5,172
Other current assets		$ 9,764	$ 9,177

[1]	Advance payments to vendors relate to payments for inventory purchases ahead of receipt.
[2]	Primarily relates to other prepaid vendor expenses including insurance expense.

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands		Jan. 31, 2022	Oct. 31, 2021
Other Assets
Long-term stack residual value	[1]		$ 263
Long-term unbilled receivables	[2]	$ 11,316	11,581
Other	[3]	6,924	5,154
Other assets		$ 18,240	$ 16,998

[1]	Relates to estimated residual value for module exchanges performed under the Company’s service agreements where the useful life extends beyond the contractual term of the service agreement and the Company obtains title for the module from the customer upon expiration or non-renewal of the service agreement. If the Company does not obtain rights to title from the customer, the full cost of the module is expensed at the time of the module exchange.
[2]	Represents unbilled receivables that relate to revenue recognized on customer contracts that will be billed in future periods in excess of 12 months from the balance sheet date.
[3]	The Company entered into an agreement with one of its customers on June 29, 2016 which includes payments for the purchase of the customer’s power platforms by the Company at the end of the term of the agreement. The payments are to be made in installments over the term of the agreement and the total amount paid as of each of January 31, 2022 and October 31, 2021 was $2.2 million. Also included within “Other” are long-term security deposits and prepaid withholding taxes on deferred revenue as of January 31, 2022 and October 31, 2021.

Other Assets - Schedule of Ot_2

Other Assets - Schedule of Other Assets (Parenthetical) (Details) $ in Millions	Jan. 31, 2022USD ($)	Jun. 29, 2016customer
Other Assets
Number of customers under agreement \| customer		1
Contractual Obligation \| $	$ 2.2

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands		Jan. 31, 2022	Oct. 31, 2021
Accrued Liabilities
Accrued payroll and employee benefits		$ 2,723	$ 2,544
Accrued product warranty cost	[1]	297	72
Accrued service agreement and PPA costs	[2]	8,667	9,112
Accrued legal, taxes, professional and other		14,301	4,371
Accrued liabilities		$ 25,988	$ 16,099

[1]	The increase in accrued product warranty cost reflects the costs associated with the warranties provided under the POSCO Energy Settlement Agreement. Product warranty expense for the three months ended January 31, 2022 and 2021 was $0.2 million and $0.03 million, respectively.
[2]	Accrued service agreement costs include loss accruals on service agreements of $5.8 million and $6.5 million as of January 31, 2022 and October 31, 2021, respectively. The decrease is the result of realization of losses for the quarter ended January 31, 2022. The accruals for performance guarantees on service agreements and PPAs increased from $2.5 million as of October 31, 2021 to $2.7 million as of January 31, 2022.

Accrued Liabilities - Schedul_2

Accrued Liabilities - Schedule of Accrued Liabilities (Parenthetical) (Details) - USD ($) $ in Thousands	Dec. 30, 2021	Jan. 31, 2022	Jan. 31, 2021	Dec. 23, 2021	Oct. 31, 2021
Schedule Of Accrued Liabilities [Line Items]
Product warranty accrual, payment and adjustments		$ 200	$ 30
Loss reserve on service agreements		5,800			$ 6,500
Contractual Obligation		2,200
POSCO Energy Settlement Agreement
Schedule Of Accrued Liabilities [Line Items]
Increase in legal accrual	$ 10,000
Payments for contractual obligation	14,000
Contractual Obligation	$ 24,000			$ 24,000
Bridgeport Fuel Cell Project
Schedule Of Accrued Liabilities [Line Items]
Reserve for performance guarantees		$ 2,700			$ 2,500

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Oct. 31, 2021
Lessee Lease Description [Line Items]
Operating lease ROU asset	$ 7,877		$ 8,109
Operating lease liability	8,834
Accumulated deficit	(1,305,875)		(1,265,251)
Finance lease, liability	$ 91		$ 102
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Current portion of long-term debt, Long-term debt and other liabilities		Current portion of long-term debt, Long-term debt and other liabilities
Operating lease expense	$ 395	$ 378
Operating lease, weighted average remaining lease term	20 years
Operating lease, weighted average discount rate	8.20%	8.20%
Operating lease, payments	$ 372	$ 284
Minimum
Lessee Lease Description [Line Items]
Operating and finance lease, remaining lease term	1 year
Maximum
Lessee Lease Description [Line Items]
Operating and finance lease, remaining lease term	26 years

Leases - Summary of Undiscounte

Leases - Summary of Undiscounted Maturities of Operating Lease and Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Oct. 31, 2021
Operating Leases
2021 (remaining)	$ 1,515
2021	1,002
2022	854
2023	774
2024	779
Thereafter	13,998
Total undiscounted lease payments	18,922
Less imputed interest	10,088
Total discounted lease payments	8,834
Finance Leases
2021 (remaining)	53
2021	49
Total undiscounted lease payments	102
Less imputed interest	11
Total discounted lease payments	$ 91	$ 102
Finance Lease Liability Statement Of Financial Position Extensible List	Debt Current, Other Liabilities Noncurrent	Debt Current, Other Liabilities Noncurrent

Stockholders' Equity and Warr_3

Stockholders' Equity and Warrant Liabilities - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 11, 2021	Jul. 31, 2021	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022
Series C Warrants
Stockholders' Equity Note
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 19.20		$ 19.20
Class of warrant or right term			5 years
Common Stock
Stockholders' Equity Note
Stock issued during period shares new issues				25,000,000
At Market Issuance Sales Agreement \| Jefferies LLC \| Common Stock
Stockholders' Equity Note
Stock issued during period shares new issues		44,100,000	0		44,100,000
Net proceeds from issuance of common stock	$ 377.2	$ 369.7	$ 377.2		$ 369.7
Aggregate Offering Price	$ 500
Percentage Of Sales Commission	2.00%
Average Sale Of Stock Price Per Share			$ 8.56		$ 8.56
Gross Proceeds From Issuance Of Common Stock					$ 377.2
Payments of commissions and offering expenses	$ 7.5
Sale agreement, common stock, value, available for issuance	122.8		$ 122.8		$ 122.8
At Market Issuance Sales Agreement \| Maximum \| Jefferies LLC \| Common Stock
Stockholders' Equity Note
Aggregate Offering Price	$ 500

Stockholders' Equity and Warr_4

Stockholders' Equity and Warrant Liabilities - Schedule of Warrant Activity (Details) - Series C Warrants	Jan. 31, 2022shares
Class of Warrant or Right, Outstanding	950,102
Class of Warrant or Right, Outstanding	950,102

Redeemable Preferred Stock (Det

Redeemable Preferred Stock (Details) - $ / shares	1 Months Ended
Redeemable Preferred Stock (Details) - $ / shares	Mar. 31, 2005	Jan. 31, 2022
Class Of Stock [Line Items]
Preferred stock, par value		$ 0.01
Maximum
Class Of Stock [Line Items]
Preferred stock, shares authorized		250,000
Series B Preferred Stock
Class Of Stock [Line Items]
Preferred stock, shares authorized	105,875	105,875
Preferred stock, dividend rate, percentage	5.00%

Redeemable Preferred Stock - Re

Redeemable Preferred Stock - Redeemable Series B Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 31, 2022	Oct. 31, 2021	Mar. 31, 2005
Class Of Stock [Line Items]
Common stock, shares issued	366,686,186	366,618,693
Series B Preferred Stock
Class Of Stock [Line Items]
Preferred stock, shares authorized	105,875		105,875
Preferred stock, liquidation preference per share	$ 1,000
Preferred Stock Shares Outstanding	64,020	64,020
Temporary equity, carrying amount, attributable to parent	$ 59,857	$ 59,857
Preferred stock, shares issued	64,020	64,020

Redeemable Preferred Stock - Di

Redeemable Preferred Stock - Dividends, Liquidations and Conversion Rights (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2005	Jan. 31, 2022	Jan. 31, 2021	Oct. 31, 2021
Class Of Stock [Line Items]
Dividends declared		$ 800	$ 800
Series B Preferred Stock
Class Of Stock [Line Items]
Dividends, preferred stock, cash		800	800
Dividends declared		$ 800	$ 800
Preferred stock, dividend rate, percentage	5.00%
Preferred stock, liquidation preference per share		$ 1,000
Preferred Stock, Liquidation Preference, Value		$ 64,020		$ 64,020

Loss Per Share - Calculation of

Loss Per Share - Calculation of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Jan. 31, 2022	Jan. 31, 2021
Numerator
Net loss attributable to FuelCell Energy, Inc.		$ (40,624)	$ (45,960)
Warrant exchange			15,974
Preferred dividends - Series B		(800)	(800)
Net loss attributable to common stockholders		$ (41,424)	$ (46,760)
Denominator
Weighted average common shares outstanding - basic		366,734,739	312,109,888
Effect of dilutive securities	[1]	0	0
Weighted average common shares outstanding - diluted		366,734,739	312,109,888
Net loss to common stockholders per share - basic		$ (0.11)	$ (0.15)
Net loss to common stockholders per share - diluted	[1]	$ (0.11)	$ (0.15)
Series B Preferred Stock
Numerator
Preferred dividends - Series B		$ (800)	$ (800)

[1]	Due to the net loss to common stockholders in each of the periods presented above, diluted loss per share was computed without consideration to potentially dilutive instruments as their inclusion would have been anti-dilutive.

Loss Per Share - Schedule of Po

Loss Per Share - Schedule of Potentially Dilutive Securities Excluded from the Diluted Loss Per Share Calculation (Details) - shares	3 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share calculation	4,287,147	3,940,853
Series C Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share calculation	950,102	964,128
Outstanding Options To Purchase Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share calculation	22,432	23,891
Unvested Restricted Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share calculation		538
Unvested Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share calculation	3,276,776	2,914,459
Series B Cumulative Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share calculation	37,837	37,837

Restricted Cash - Additional In

Restricted Cash - Additional Information (Details) - USD ($) $ in Millions	Jan. 31, 2022	Oct. 31, 2021
Restricted Cash.
Restricted cash and cash equivalents	$ 28.5	$ 28

Restricted Cash - Summary of Al

Restricted Cash - Summary of Allocation of Restricted Cash (Details) - USD ($) $ in Thousands		Jan. 31, 2022	Oct. 31, 2021
Restricted Cash.
Cash Restricted for Outstanding Letters of Credit	[1]	$ 4,891	$ 6,478
Cash Restricted for PNC Sale-Leaseback Transactions	[2]	4,045	5,514
Cash Restricted for Crestmark Sale-Leaseback Transaction		2,888	2,887
Bridgeport Fuel Cell Park Project Debt Service and Performance Reserves		14,528	11,937
Other		2,116	1,183
Total Restricted Cash		28,468	27,999
Restricted Cash and Cash Equivalents - Short-Term	[3]	(12,643)	(11,268)
Restricted cash and cash equivalents - long-term		$ 15,825	$ 16,731

[1]	Letters of credit outstanding as of January 31, 2022 expire on various dates through August 2028.
[2]	Long and short-term reserve that is to be used primarily to fund future module exchanges for operating projects falling under the PNC sale leaseback obligations. The decrease in restricted cash at January 31, 2022 compared to October 31, 2021 is a result of the Company’s performance in completing certain module replacements, which resulted in cash being categorized as unrestricted.
[3]	Short-term restricted cash and cash equivalents are amounts expected to be released and categorized as unrestricted cash within twelve months of the balance sheet date.

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Oct. 31, 2021
Debt Instrument [Line Items]
Finance lease obligations	$ 91	$ 102
Finance Lease Liability Statement Of Financial Position Extensible List	Debt Current, Other Liabilities Noncurrent	Debt Current, Other Liabilities Noncurrent
Deferred finance costs	$ (1,447)	$ (1,556)
Total debt and financing obligations	86,246	87,708
Current portion of long-term debt and financing obligations	(9,722)	(10,085)
Long-term debt and financing obligations	76,524	77,623
Connecticut Green Bank Loan [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	4,800	4,800
Connecticut Green Bank Loan (Bridgeport Fuel Cell Project) [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	4,121	4,318
Liberty Bank Term Loan Agreement (Bridgeport Fuel Cell Project) [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	6,944	7,465
Fifth Third Bank Term Loan Agreement (Bridgeport Fuel Cell Project) [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	6,944	7,465
Finance Obligation for Sale-Lease Back Transactions [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	56,381	56,492
State of Connecticut [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	$ 8,412	$ 8,622

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Details)	Dec. 10, 2021shares	Jan. 31, 2022$ / sharesshares	Oct. 31, 2021shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Description		Should the Company’s share price achieve the 200% performance level, awardees will receive up to 169,026 additional performance units.
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date	Oct. 31, 2024
Share Based Compensation Arrangement by Share-Based Payment Award, Rate of Vesting	0.333
Common stock, shares authorized		500,000,000	500,000,000
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Stock Awards and Units, Granted, Shares	169,026
Performance shares expensed period		3 years
Time Based Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Stock Awards and Units, Granted, Shares	642,464
TSR Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Stock Awards and Units, Granted, Shares		169,026
Performance awards valued per share \| $ / shares		$ 11.70
2018 Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Description	The LTI Plan consists of two award components: (1) relative total shareholder return (“TSR”) performance units, and (2) time-vesting restricted stock units.
Maximum \| LTI Plan \| Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares issued upon performance		169,026

Benefit Plans - Schedule of Sha

Benefit Plans - Schedule of Share-Based Compensation Reflected in Consolidated Statement of Operations and Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 1,409	$ 1,371
Costs of Revenues
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	153	178
General and Administrative Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	1,178	1,163
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 78	$ 30

Benefit Plans - Summary of RSA

Benefit Plans - Summary of RSA and RSU Activity (Details)	3 Months Ended
Benefit Plans - Summary of RSA and RSU Activity (Details)	Jan. 31, 2022$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Stock Awards and Units, Outstanding, Shares, Beginning Balance \| shares	2,543,541
Restricted Stock Awards and Units, Outstanding, Shares, Ending Balance \| shares	3,276,776
Restricted Stock Awards and Units, Outstanding, Weighted-Average Fair Value, Beginning Balance \| $ / shares	$ 5.08
Restricted Stock Awards and Units, Outstanding, Weighted-Average Fair Value, Ending Balance \| $ / shares	$ 6.27
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Stock Awards and Units, Granted, Shares \| shares	169,026
Restricted Stock Awards and Units, Granted, Weighted-Average Fair Value \| $ / shares	$ 11.70
Time Based Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Stock Awards and Units, Granted, Shares \| shares	652,597
Restricted Stock Awards and Units, Vested, Shares \| shares	(88,388)
Restricted Stock Awards and Units, Granted, Weighted-Average Fair Value \| $ / shares	$ 9.20
Restricted Stock Awards and Units, Vested, Weighted-Average Fair Value \| $ / shares	$ 3.54

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Sep. 14, 2020USD ($)item	Jun. 28, 2020USD ($)	Apr. 27, 2020USD ($)	Oct. 31, 2020USD ($)	Jan. 31, 2022USD ($)projectMW	Dec. 20, 2021USD ($)
Commitments And Contingencies [Line Items]
Recorded unconditional purchase obligation					$ 85.4
Loss contingency, damages sought				$ 880
Total number of projects \| project					3
Accounts receivable outstanding					$ 11.2
POSCO Energy Settlement Agreement
Commitments And Contingencies [Line Items]
Unspecified warranty claims	$ 1
Contingent liability						$ 1.8
Number of counts \| item	4
Tulare Biomart Project
Commitments And Contingencies [Line Items]
Term for procuring fuel					20 years
LIPA project
Commitments And Contingencies [Line Items]
Term for procuring fuel					7 years
LIPA project \| Maximum
Commitments And Contingencies [Line Items]
Term for procuring fuel					20 years
CT-RFP 2 Derby 14.9 Mega Watt Project
Commitments And Contingencies [Line Items]
Under construction power plant capacity \| MW					14
SCEF-Derby 208 Mega Watt Project
Commitments And Contingencies [Line Items]
Under construction power plant capacity \| MW					2.8
Bridgeport
Commitments And Contingencies [Line Items]
Operating power plant capacity \| MW					14.9
Hartford
Commitments And Contingencies [Line Items]
Operating power plant capacity \| MW					7.4
Posco Energy
Commitments And Contingencies [Line Items]
Loss contingency, damages sought		$ 200	$ 3.3
Unspecified warranty claims			$7
License termination			$ 110
Bond amount					$ 46

Commitments and Contingencies_2

Commitments and Contingencies - Settlement Agreement (Details)	Dec. 30, 2021USD ($)	Dec. 20, 2021USD ($)item	Dec. 20, 2021KRW (₩)item	Jan. 31, 2022USD ($)	Dec. 23, 2021USD ($)
Commitments And Contingencies [Line Items]
Amount of contractual Obligation				$ 2,200,000
POSCO Energy Settlement Agreement
Commitments And Contingencies [Line Items]
Contingent liability		$ 1,800,000
Outstanding accounts receivable		$ 11,200,000
Period within which an application should be filed		5 days	5 days
Warrant period against module defect from the date of shipment.		18 months	18 months
Warrant period against module defect from the date of installation		12 months	12 months
Period for reimbursement due to shortfall or defect		7 years	7 years
Percentage of maximum annual reimbursement obligation		7.50%	7.50%
Number of firm, non-cancelable orders \| item		12	12
Number of weeks within which the orders to be placed \| item		2	2
Price per module of the orders to be placed		$ 3,000,000
Number of modules delivered \| item		6
Period of right of first refusal on operation and maintenance services		24 months	24 months
Number of balance of plant units \| item		8	8
Purchase price per unit of balance of plant units		$ 2,116,500	₩ 2,550,000,000
Amount of contractual Obligation	$ 24,000,000				$ 24,000,000
Amount of contractual obligation to be paid on fiscal year					14,000,000
Payments for contractual obligation	$ 14,000,000
POSCO Energy Settlement Agreement \| Settlement agreement orders on or before March 31, 2022
Commitments And Contingencies [Line Items]
Amount of contractual obligation to be paid three months					5,000,000
POSCO Energy Settlement Agreement \| Settlement agreement orders on or before June 30, 2022
Commitments And Contingencies [Line Items]
Number of additional firm, non-cancelable orders to be placed \| item		8	8
Amount of contractual obligation to be paid in next six months					$ 5,000,000
POSCO Energy Settlement Agreement \| Settlement agreement orders on or before December 31, 2022
Commitments And Contingencies [Line Items]
Number of additional firm, non-cancelable orders to be placed \| item		14	14
Price per module of the orders to be placed		$ 3,000,000