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Fuel Tech FTEK
$ 1.38 -4.83%
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Quarterly report 2026-Q1
added 05-05-2026

Fuel Tech Income Statement 2025-2011 | FTEK

Brief overview of profit and loss at Fuel Tech

The figures are compared over a five-year interval. Revenue reported by Fuel Tech was $22.6 million at the beginning of the period and $26.7 million at the end. Overall revenue changed by +18.3%, equal to an annualized rate of about 3.4%. Sales changed only slightly and remained broadly flat.

The five-year change in gross profit reached +16.4%: from $10.6 million to $12.4 million. Direct costs broadly followed the top-line trend. Gross profit as a share of revenue changed from 47.2% to 46.4%. The gross margin stayed within a similar range.

Over the period, EBITDA shifted from −3.3 million dollars to −3 million dollars, a change of +8.3%. EBITDA underperformed the top-line trend. The EBITDA share of revenue changed from −14.6% to −11.3%. Higher profitability strengthens the quality of operating growth.

Net income moved from −$4.3 million at the start to −$2.3 million at the end. The loss reduction is constructive, but the recovery is incomplete.

Over the period, capitalization shifted from 124 million dollars to 43.3 million dollars (−65.1%). Capitalization lags the underlying business improvement.

Summary assessment

Signs of deterioration dominate the five-year picture. The financial profile benefits from a stronger final result, steady gross profitability and higher operating efficiency. The most visible risks are weak sales momentum, limited operating profitability and lower investor confidence. Investors should continue to monitor margins, costs, and earnings quality.

Annual Income Statement Fuel Tech

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Market Cap

43.3 M 29.3 M 35.5 M 44.5 M 37 M 124 M 21.1 M 29.2 M 27.9 M 29.9 M 41.4 M 73.6 M 148 M 98.3 M 146 M

Shares

30.9 M 30.6 M 30.3 M 30.3 M 29.6 M 24.7 M 24.2 M 24.2 M 23.9 M 23.4 M 23.1 M 22.8 M 22.3 M 22.7 M 24.1 M

Historical Prices

1.4 0.96 1.17 1.47 1.25 3.52 0.8 1.23 1.09 1.11 1.55 3.24 6.39 4.43 6.19

Net Income

-2.32 M -1.94 M -1.54 M -1.44 M 54 K -4.28 M -7.85 M -28 K -11 M -17.4 M -12.4 M -17.7 M 5.1 M 2.78 M 6.15 M

Revenue

26.7 M 25.1 M 27.1 M 26.9 M 24.3 M 22.6 M 30.5 M 56.5 M 45.2 M 55.2 M 73.7 M 79 M 109 M 97.6 M 93.7 M

Cost of Revenue

14.3 M 14.5 M 15.4 M 15.3 M 12.4 M 11.9 M 19.6 M 36.5 M 27.1 M 36.4 M 45.1 M 43.9 M 62.5 M 56.9 M 49.9 M

Gross Profit

12.4 M 10.6 M 11.7 M 11.6 M 11.9 M 10.6 M 10.8 M 20.1 M 18 M 18.8 M 28.6 M 35.1 M 46.8 M 40.7 M 43.8 M

Operating Income

-3.68 M -4.7 M -2.66 M -1.53 M -1.49 M -4.34 M -8.24 M 110 K -7.06 M -12 M -5.43 M -25.2 M 8 M 5.2 M 9.65 M

Interest Expense

-43 K 1.58 M 21 K 17 K 19 K 4 K -8 K 2 K - - 27 K 125 K 56 K 93 K 148 K

EBITDA

-3.02 M -4.3 M -2.38 M -1.18 M -905 K -3.29 M -6.49 M 1.27 M -2.45 M -7.82 M -2.63 M 2.54 M 11 M 8.29 M 13.4 M

Operating Expenses

- - - - - 14.8 M 18.3 M 19.6 M 22 M 30.1 M 35.4 M 36.9 M 38.8 M 35.5 M 34.2 M

General and Administrative Expenses

14 M 13.8 M 12.8 M 12.3 M 12.1 M 13.6 M 17.2 M 18.6 M - - - - - - -

All numbers in USD currency

Quarterly Income Statement Fuel Tech

2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Shares

31.1 M 31.1 M 31.1 M 30.9 M 30.7 M 30.7 M 30.7 M 30.5 M 30.4 M 30.4 M 30.4 M 30.3 M 30.3 M 30.3 M 30.3 M 30.3 M 30.3 M 30.3 M 30.3 M 30.3 M 27.5 M 25.2 M 24.7 M 24.7 M 24.6 M 24.6 M 24.2 M 24.2 M 24.2 M 24.2 M 24.2 M 24.2 M 24.1 M 24.1 M 24.1 M 23.7 M 23.5 M 23.4 M 23.4 M 23.4 M 23.2 M 23.2 M 23.2 M 23.1 M 22.9 M 22.9 M 22.8 M 22.8 M 22.6 M 22.6 M 22.4 M 22.2 M 22.1 M 22.1 M 22.1 M 23.1 M 23.6 M 23.6 M 24.3 M 24.3 M 24.2 M

Net Income

-1.36 M - 303 K -689 K -739 K - 80 K -421 K 281 K - 459 K -1.04 M -414 K - 314 K -356 K -998 K - 678 K -778 K 398 K -1.54 M 2.38 M -2.54 M -2.57 M -4.34 M -1.28 M -945 K -1.29 M 896 K 1.04 M -1.75 M -216 K -672 K -417 K -6.85 M -2.51 M -9.1 M -3.02 M -2.63 M -2.64 M -9.07 M -289 K -1.37 M -1.65 M -17.1 M 1.19 M -720 K -1.09 M 406 K 1.19 M -720 K -1.09 M -29 K 3.48 M 1.24 M -21 K - 2.66 M 430 K 1.34 M

Revenue

6.08 M - 7.49 M 5.56 M 6.38 M - 7.85 M 7.04 M 4.96 M - 7.99 M 5.46 M 7.29 M - 8.02 M 6.37 M 5.54 M - 7.56 M 5.22 M 5.03 M 6.22 M 8.16 M 4.4 M 3.78 M 4.91 M 6.45 M 8.95 M 10.2 M 15.8 M 16.1 M 11.8 M 12.8 M 13.4 M 13.5 M 9.74 M 8.49 M 9.57 M 12.6 M 15.2 M 17.8 M 18.2 M 21.7 M 18.7 M 15.1 M 18.7 M 21.5 M 20.2 M 18.7 M 24.2 M 21.5 M 20.2 M 18.7 M 26.6 M 33.6 M 29.1 M 22.5 M - 24 M 19 M 22.6 M

Cost of Revenue

3.44 M - 3.83 M 3.03 M 3.42 M - 4.44 M 4.09 M 2.93 M - 4.38 M 3.46 M 4.48 M - 4.34 M 3.69 M 3.24 M - 3.84 M 2.64 M 2.68 M 3.61 M 2.25 M 3.8 M 2.25 M 4.88 M 3.56 M 5.05 M 6.14 M 9.93 M 10.7 M 8.12 M 7.77 M 7.76 M 8.5 M 6.12 M 4.77 M 7.72 M 7.28 M 9.6 M 11.8 M 11.3 M 13.8 M 11.5 M 8.44 M 9.82 M 11.6 M 11.7 M 10.8 M 13.8 M 18.5 M 17.2 M 13.1 M 17.1 M 14.7 M 11.9 M 13.2 M - 13 M 10.6 M 11.5 M

Gross Profit

2.64 M - 3.66 M 2.53 M 2.96 M - 3.41 M 2.95 M 2.03 M - 3.61 M 2 M 2.8 M - 3.67 M 2.68 M 2.29 M - 3.72 M 2.58 M 2.36 M - 5.91 M 602 K 1.53 M - 2.89 M 3.9 M 4.01 M - 5.42 M 3.72 M 5.02 M - 5.05 M 3.62 M 3.72 M - 5.32 M 5.58 M 6.05 M - 7.85 M 7.14 M 6.67 M - 9.9 M 8.51 M 7.85 M - 15.1 M 11.9 M 9.43 M - 10.2 M 9.03 M 12 M - 11 M 8.47 M -

Operating Income

-1.6 M - 4 K -1.31 M -952 K - -179 K -715 K -1.69 M - 133 K -1.33 M -658 K - 192 K -485 K -984 K - 578 K -689 K -1.16 M - 2.44 M -2.42 M -2.68 M - -1.36 M -843 K -1.3 M - 1.05 M -1.62 M -184 K - -134 K -5.6 M -1.78 M - -2.25 M -1.48 M -2.59 M - -795 K -2.25 M -2.41 M - 1.44 M -671 K -1.14 M - 5.34 M 2.13 M 41 K - 1.6 M 188 K 2.49 M - 2.91 M 945 K 945 K

Interest Expense

- - -5 K 86 K -66 K - -63 K -34 K - - 5 K 5 K 5 K - 4 K 4 K 5 K - 5 K 5 K 4 K - 9 K 3 K 3 K - 4 K 3 K 1 K - - - - - -41 K - -2 K - - - - - - 3 K 27 K - 33 K 34 K 29 K - 19 K 10 K - - 16 K 49 K 25 K - 47 K 38 K 40 K

EBITDA

-1.42 M - - - -788 K - - - -1.61 M - - - -579 K - 459 K -303 K -890 K - 1.04 M -370 K -989 K - 2.93 M -2.1 M -2.52 M - -717 K -365 K -1.06 M - 1.55 M -1.26 M 11 K - 941 K -4.85 M -1.37 M - -895 K -549 K -2.1 M - 765 K -1.2 M -1.89 M - 2.81 M 273 K -644 K - 7 M 3.23 M 579 K - 3.25 M 1.28 M 3.04 M - 5.16 M 2.48 M 1.7 M

Operating Expenses

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 21.1 M 18.1 M -

General and Administrative Expenses

3.72 M - 3.21 M 3.35 M 3.34 M - 3.22 M 3.24 M 3.34 M - 2.97 M 2.92 M 3.24 M - 3.27 M 2.87 M 3.05 M - 2.8 M 2.96 M 3.1 M - 3.18 M 2.76 M 3.89 M - 3.82 M 4.46 M 4.46 M - 4.1 M 4.76 M 4.92 M - 4.97 M 5.92 M 5.15 M - 5.79 M 6.76 M 7.16 M - 7.12 M 8.4 M 8.2 M - 8.08 M 8.96 M 8.74 M - 9.3 M 9.31 M 8.46 M - 8.06 M 7.87 M 8.99 M - 7.7 M 7.97 M 7.95 M

All numbers in USD currency

The income statement is one of the three key financial reports of a company Fuel Tech (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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