Fuel Tech, Inc. income statement

In fiscal 2025, Fuel Tech, Inc. reported revenue of $26.7m, up 6.1% on the year before, operating income of −$3.7m (a -13.8% margin) and net income of −$2.3m, or −$0.08 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fuel Tech, Inc.: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	71	82	94	98	109	79	74	55	45	57	30	23	24	27	27	25	27	27
Cost of revenue	42	47	50	57	63	44	45	36	27	36	20	12	12	15	15	15	14	15
Gross profit	29	35	44	41	47	35	29	19	18	20	11	11	12	12	12	11	12	12
Research and development	1	1	1	3	2	1	1	2	1	1	1	1	1	1	2	2	2	2
Selling, general and administrative	32	31	33	33	36	35	31	26	21	19	17	14	12	12	13	14	14	15
Operating income	−3	4	10	5	8	−25	−5	−12	−7	0	−8	−4	−1	−2	−3	−5	−4	−5
Interest expense	0	0	0	0	0	0	0	0	0	—	—	0	0	0	0	0	—	—
Income before tax	−3	4	9	5	8	−26	−6	−13	−7	0	−8	−4	0	−1	−1	−2	−2	−3
Income tax	−1	2	3	2	3	−8	4	2	−1	0	0	0	0	0	0	0	0	0
Net income	−2	2	6	3	5	−18	−12	−17	−10	−0	−8	−4	0	−1	−2	−2	−2	−3
Diluted EPS	−$0.10	$0.07	$0.25	$0.12	$0.23	−$0.78	−$0.54	−$0.74	−$0.44	$0.00	−$0.32	−$0.17	$0.00	−$0.05	−$0.05	−$0.06	−$0.08	−$0.11
Diluted shares (average)	24m	24m	25m	24m	23m	23m	23m	23m	24m	24m	24m	25m	30m	30m	30m	31m	31m	31m
EBITDA	1	7	12	7	10	−23	−3	−10	−6	1	−7	−4	−1	−1	−2	−4	−3	−4

US$ thousands unless shown otherwise. Fiscal quarters.

Fuel Tech, Inc.: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	7,851	5,283	6,382	5,558	7,490	7,247	6,080	6,485
Cost of revenue	4,444	3,048	3,423	3,029	3,829	4,013	3,436	3,810
Gross profit	3,407	2,235	2,959	2,529	3,661	3,234	2,644	2,675
Research and development	361	405	570	490	450	504	524	646
Selling, general and administrative	3,225	3,946	3,341	3,347	3,207	4,155	3,716	3,594
Operating income	−179	−2,116	−952	−1,308	4	−1,425	−1,596	−1,565
Interest expense	0	0	—	—	—	—	—	—
Income before tax	81	−1,824	−739	−685	310	−1,195	−1,356	−1,220
Income tax	1	59	0	4	7	4	−1	10
Net income	80	−1,883	−739	−689	303	−1,199	−1,355	−1,230
Diluted EPS	$0.00	−$0.06	−$0.02	−$0.02	$0.01	−$0.04	−$0.04	−$0.04
EBITDA	−92	−1,961	−788	−1,145	167	−1,252	−1,421	−1,387

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Fuel Tech, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Fuel Tech, Inc.