FUEL TECH (FTEK) Company Report

Fuel Tech reported Q3 2025 net income of $303,000 or $0.01 per share and Adjusted EBITDA of $228,000, with consolidated revenues slightly declining to $7.5 million from $7.9 million in the prior year period, while consolidated gross margin rose to 49% from 43%.
The company maintains a strong financial position with nearly $34 million in cash, cash equivalents, and investments at quarter end and no long-term debt.
The Fuel Chem segment's revenue improved to $4.8 million in Q3 2025, and its full-year 2025 segment revenue guidance was updated to $16.5 million-$17 million, up from prior guidance of $15 million-$16 million. The APC segment backlog increased to $9.5 million at the end of Q3 2025.
Fuel Tech acquired complementary APC intellectual property for $350,000 and is pursuing $80 million-$100 million in data center opportunities, with two to three commercial contracts expected to conclude by late 2025 or early Q1 2026. The company expects full-year 2025 revenues to be approximately $27 million, an 8% increase over 2024.

Nov 5, 2025, 3:00 PM

Fuel Tech Reports Q3 2025 Profitability and Increased Full-Year Fuel Chem Guidance

FTEK

Earnings

Guidance Update

New Projects/Investments

Fuel Tech reported Q3 2025 net income of $303,000 or $0.01 per share, an increase from $80,000 or $0.00 per share in the prior year period, with consolidated gross margins rising to 49% from 43%.
The company maintained a strong financial position with nearly $34 million in cash, cash equivalents, and investments and no long-term debt as of September 30, 2025.
The Fuel Chem segment saw revenue increase to $4.8 million in Q3 2025, leading to an upward revision of its full-year 2025 segment revenue guidance to approximately $16.5 million-$17 million, up from prior guidance of $15 million-$16 million.
Fuel Tech's APC segment backlog grew to $9.5 million at the end of Q3 2025, and the company is actively pursuing a data center sales pipeline valued at $80 million-$100 million for SCR technology.
For the full year 2025, Fuel Tech anticipates total revenues of approximately $27 million, an 8% increase over 2024, excluding material contributions from data center contract awards.

Nov 5, 2025, 3:00 PM

Fuel Tech Reports Q3 2025 Financial Results and Business Updates

FTEK

Earnings

Guidance Update

New Projects/Investments

Fuel Tech reported Q3 2025 net income of $303,000 or $0.01 per share on consolidated revenues of $7.5 million, achieving a consolidated gross margin of 49%.
The company maintained a strong financial position with $33.8 million in cash, cash equivalents, and investments and no long-term debt as of September 30, 2025. Total revenues for 2025 are expected to be approximately $27 million, representing an 8% increase over 2024.
The Fuel Chem segment's revenue increased to $4.8 million with a 50% gross margin, and its full-year 2025 segment revenue guidance was raised to $16.5 million-$17 million. The APC segment backlog grew to $9.5 million, and the company is pursuing a data center sales pipeline of $80 million-$100 million.

Nov 5, 2025, 3:00 PM

Fuel Tech Reports Q3 2025 Financial Results and Strategic Acquisition

FTEK

Earnings

M&A

Fuel Tech, Inc. reported consolidated revenues of $7.5 million for Q3 2025, a decrease from $7.9 million in Q3 2024, but achieved net income of $303,000 ($0.01 per share) compared to $80,000 ($0.00 per share) in the prior year period.
The company's consolidated gross margin expanded to 48.9% in Q3 2025 from 43.4% in Q3 2024, with both the Air Pollution Control (APC) and FUEL CHEM segments contributing to higher gross margins.
As of September 30, 2025, Fuel Tech maintained a strong financial position with $33.8 million in cash and investments and no debt.
The APC segment backlog increased to $9.5 million at September 30, 2025, up from $7.8 million at June 30, 2025.
Subsequent to the quarter end, Fuel Tech acquired intellectual property assets from Wahlco, Inc. for $350,000, which expands its APC solutions portfolio.