Fuel Tech financials
$1.64−0.61%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.7M | $25.1M | $27.1M | $26.9M | $24.3M | $22.6M | $30.5M | $56.5M | $45.2M | $55.2M |
| Gross profit | $12.4M | $10.6M | $11.7M | $11.6M | $11.9M | $10.6M | $10.8M | $20.1M | $18.0M | $18.8M |
| Gross margin | 46.4% | 42.3% | 43.0% | 43.2% | 49.0% | 47.2% | 35.5% | 35.5% | 39.9% | 34.1% |
| Operating income | -$3.7M | -$4.7M | -$2.7M | -$1.5M | -$1.5M | -$4.3M | -$8.2M | $110.0K | -$7.1M | -$12.0M |
| Net income | -$2.3M | -$1.9M | -$1.5M | -$1.4M | $54.0K | -$4.3M | -$7.9M | -$28.0K | -$10.4M | -$17.4M |
| Net margin | −8.7% | −7.7% | −5.7% | −5.4% | 0.2% | −19.0% | −25.8% | 0.0% | −23.1% | −31.5% |
| Diluted EPS | $-0.08 | $-0.06 | $-0.05 | $-0.05 | $0.00 | $-0.17 | $-0.32 | $0.00 | $-0.44 | $-0.74 |
| EBITDA | -$3.0M | -$4.2M | -$2.3M | -$1.1M | -$748.0K | -$3.3M | -$6.5M | $1.3M | -$2.5M | -$5.6M |
| Operating cash flow | $3.0M | -$3.4M | $696.0K | -$4.1M | $761.0K | -$2.7M | -$3.4M | $4.9M | -$3.6M | -$2.7M |
| Free cash flow | $2.3M | -$3.8M | $278.0K | -$4.3M | $677.0K | -$3.0M | -$3.9M | $4.4M | -$4.1M | -$3.7M |
| Diluted shares | 30.9M | 30.6M | 30.3M | 30.3M | 29.7M | 24.7M | 24.2M | 24.2M | 23.9M | 23.4M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $11.9M | $8.5M | $17.6M | $23.3M | $35.9M | $10.6M |
| Short-term investments | $12.9M | $10.2M | $12.1M | $3.0M | $0.00 | — |
| Total debt | $76.0K | $76.0K | $76.0K | $76.0K | $76.0K | $1.6M |
| Total assets | $47.2M | $48.8M | $50.4M | $50.1M | $50.0M | $30.1M |
| Total liabilities | $7.3M | $6.9M | $6.8M | $5.4M | $3.9M | $7.8M |
| Shareholders' equity | $39.9M | $41.9M | $43.6M | $44.8M | $46.1M | $22.2M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology