FUEL TECH, INC.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $26.7M | $25.1M | $27.1M | $26.9M | $24.3M |
| Gross profit | $12.4M | $10.6M | $11.7M | $11.6M | $11.9M |
| Operating income | -$3.7M | -$4.7M | -$2.7M | -$1.5M | -$1.5M |
| Cost of revenue | $14.3M | $14.5M | $15.4M | $15.3M | $12.4M |
| Cash from operations | $3.0M | -$3.4M | $696,000 | -$4.1M | $761,000 |
| Capital expenditure | $674,000 | $378,000 | $418,000 | $206,000 | $84,000 |
| Free cash flow | $2.3M | -$3.8M | $278,000 | -$4.3M | $677,000 |
| Share repurchases | $222,000 | $95,000 | $0 | $17,000 | $52,000 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
| Total assets | $47.2M | $48.8M | $50.4M | $50.1M | $50.0M |
| Total liabilities | $7.2M | $6.8M | $6.7M | $5.3M | $3.8M |
Shares outstanding 31.2M · Free float 90.3%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.