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Loss Per Share

12 Months Ended

Oct. 31, 2022

Loss Per Share

Loss Per Share

Note 16. Loss Per Share

Basic earnings (loss) per common share (“EPS”) are generally calculated as income (loss) available to common stockholders divided by the weighted average number of common shares outstanding. Diluted EPS is generally calculated as income (loss) available to common stockholders divided by the weighted average number of common shares outstanding plus the dilutive effect of common share equivalents.

The calculation of basic and diluted EPS for the years ended October 31, 2022, 2021 and 2020 was as follows (amounts in thousands, except share and per share amounts):

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year ended October 31,								​
​		2022		​	​	2021		2020
Numerator	​	​	​	​	​	​	​	​	​	​
Net loss attributable to FuelCell Energy, Inc.	​	$	(142,722)	​	​	(101,055)	​	$	(89,107)	​
Series B preferred stock dividends	​	​	(3,200)	​	​	(3,200)	​	​	(3,331)	​
Net loss attributable to common stockholders	​	$	(145,922)	​	$	(104,255)	​	$	(92,438)	​
Denominator	​	​	​	​	​	​	​	​	​	​
Weighted average common shares outstanding – basic	​	​	383,139,140	​	​	334,742,346	​	​	221,960,288	​
Effect of dilutive securities (1)	​	​	—	​	​	—	​	​	—	​
Weighted average common shares outstanding – diluted	​	​	383,139,140	​	​	334,742,346	​	​	221,960,288	​
Net loss to common stockholders per share – basic	​	$	(0.38)	​	$	(0.31)	​	$	(0.42)	​
Net loss to common stockholders per share – diluted (1)	​	$	(0.38)	​	$	(0.31)	​	$	(0.42)	​

(1) Due to the net loss to common stockholders in each of the years presented above, diluted earnings per share was computed without consideration to potentially dilutive instruments as their inclusion would have been antidilutive. As of October 31, 2022, 2021 and 2020, potentially dilutive securities excluded from the diluted loss per share calculation are as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	October 31,		​	October 31,		​	October 31,
​		2022			2021		​	2020
Orion Warrants	​	​	-	​	​	-	​	​	2,700,000
May 2017 Offering – Series C Warrants	​	​	-	​	​	950,102	​	​	964,114
Outstanding options to purchase common stock	​	​	20,231	​	​	22,388	​	​	23,891
Unvested Restricted Stock Awards	​	​	-	​	​	-	​	​	538
Unvested Restricted Stock Units	​	​	2,520,881	​	​	2,543,541	​	​	2,066,602
5% Series B Cumulative Convertible Perpetual Preferred Stock	​	​	37,837	​	​	37,837	​	​	37,837
Total potentially dilutive securities	​	​	2,578,949	​	​	3,553,868	​	​	5,792,982

​

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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