# Fuel Tech, Inc.: financial statements, quarterly

FTEK · Nasdaq · CIK 846913 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/ftek.md) · [Financials](/companies/ftek/financials.md) · [Filings](/companies/ftek/filings.md) · [Insiders](/companies/ftek/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/ftek/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $k | [7,988](/filings/0001437749-24-033640.md) | [6,345 d](/filings/0001437749-25-006116.md) | [4,957](/filings/0001437749-25-016135.md) | [7,042](/filings/0001437749-25-024873.md) | [7,851](/filings/0001437749-25-033043.md) | [5,283 d](/filings/0001437749-26-006623.md) | [6,382](/filings/0001437749-26-014907.md) | [5,558](/filings/0001437749-26-025711.md) | [7,490](/filings/0001437749-25-033043.md) | [7,247 d](/filings/0001437749-26-006623.md) | [6,080](/filings/0001437749-26-014907.md) | [6,485](/filings/0001437749-26-025711.md) |
| Cost of revenue | $k | [4,376](/filings/0001437749-24-033640.md) | [3,102 d](/filings/0001437749-25-006116.md) | [2,928](/filings/0001437749-25-016135.md) | [4,090](/filings/0001437749-25-024873.md) | [4,444](/filings/0001437749-25-033043.md) | [3,048 d](/filings/0001437749-26-006623.md) | [3,423](/filings/0001437749-26-014907.md) | [3,029](/filings/0001437749-26-025711.md) | [3,829](/filings/0001437749-25-033043.md) | [4,013 d](/filings/0001437749-26-006623.md) | [3,436](/filings/0001437749-26-014907.md) | [3,810](/filings/0001437749-26-025711.md) |
| Gross profit | $k | [3,612](/filings/0001437749-24-033640.md) | [3,243 d](/filings/0001437749-25-006116.md) | [2,029](/filings/0001437749-25-016135.md) | [2,952](/filings/0001437749-25-024873.md) | [3,407](/filings/0001437749-25-033043.md) | [2,235 d](/filings/0001437749-26-006623.md) | [2,959](/filings/0001437749-26-014907.md) | [2,529](/filings/0001437749-26-025711.md) | [3,661](/filings/0001437749-25-033043.md) | [3,234 d](/filings/0001437749-26-006623.md) | [2,644](/filings/0001437749-26-014907.md) | [2,675](/filings/0001437749-26-025711.md) |
| Research and development | $k | [513](/filings/0001437749-24-033640.md) | [367 d](/filings/0001437749-25-006116.md) | [376](/filings/0001437749-25-016135.md) | [422](/filings/0001437749-25-024873.md) | [361](/filings/0001437749-25-033043.md) | [405 d](/filings/0001437749-26-006623.md) | [570](/filings/0001437749-26-014907.md) | [490](/filings/0001437749-26-025711.md) | [450](/filings/0001437749-25-033043.md) | [504 d](/filings/0001437749-26-006623.md) | [524](/filings/0001437749-26-014907.md) | [646](/filings/0001437749-26-025711.md) |
| Selling, general and administrative | $k | [2,966](/filings/0001437749-24-033640.md) | [3,677 d](/filings/0001437749-25-006116.md) | [3,345](/filings/0001437749-25-016135.md) | [3,245](/filings/0001437749-25-024873.md) | [3,225](/filings/0001437749-25-033043.md) | [3,946 d](/filings/0001437749-26-006623.md) | [3,341](/filings/0001437749-26-014907.md) | [3,347](/filings/0001437749-26-025711.md) | [3,207](/filings/0001437749-25-033043.md) | [4,155 d](/filings/0001437749-26-006623.md) | [3,716](/filings/0001437749-26-014907.md) | [3,594](/filings/0001437749-26-025711.md) |
| Operating income | $k | [133](/filings/0001437749-24-033640.md) | [(801) d](/filings/0001437749-25-006116.md) | [(1,692)](/filings/0001437749-25-016135.md) | [(715)](/filings/0001437749-25-024873.md) | [(179)](/filings/0001437749-25-033043.md) | [(2,116) d](/filings/0001437749-26-006623.md) | [(952)](/filings/0001437749-26-014907.md) | [(1,308)](/filings/0001437749-26-025711.md) | [4.0](/filings/0001437749-25-033043.md) | [(1,425) d](/filings/0001437749-26-006623.md) | [(1,596)](/filings/0001437749-26-014907.md) | [(1,565)](/filings/0001437749-26-025711.md) |
| Interest expense | $k | [5.0](/filings/0001437749-24-033640.md) | [6.0 d](/filings/0001437749-25-006116.md) | [0.0](/filings/0001437749-24-015111.md) | [0.0](/filings/0001437749-24-024919.md) | [0.0](/filings/0001437749-24-033640.md) | [0.0 d](/filings/0001437749-25-006116.md) | not reported | not reported | not reported | not reported | not reported | not reported |
| Income tax | $k | [0.0](/filings/0001437749-24-033640.md) | [69.0 d](/filings/0001437749-25-006116.md) | [11.0](/filings/0001437749-25-016135.md) | [6.0](/filings/0001437749-25-024873.md) | [1.0](/filings/0001437749-25-033043.md) | [59.0 d](/filings/0001437749-26-006623.md) | [0.0](/filings/0001437749-26-014907.md) | [4.0](/filings/0001437749-26-025711.md) | [7.0](/filings/0001437749-25-033043.md) | [4.0 d](/filings/0001437749-26-006623.md) | [(1.0)](/filings/0001437749-26-014907.md) | [10.0](/filings/0001437749-26-025711.md) |
| Net income | $k | [459](/filings/0001437749-24-033640.md) | [(539) d](/filings/0001437749-25-006116.md) | [281](/filings/0001437749-25-033043.md) | [(421)](/filings/0001437749-25-033043.md) | [80.0](/filings/0001437749-25-033043.md) | [(1,883) d](/filings/0001437749-26-006623.md) | [(739)](/filings/0001437749-26-025711.md) | [(689)](/filings/0001437749-26-025711.md) | [303](/filings/0001437749-25-033043.md) | [(1,199) d](/filings/0001437749-26-006623.md) | [(1,355)](/filings/0001437749-26-025711.md) | [(1,230)](/filings/0001437749-26-025711.md) |
| Diluted EPS | $ per share | [0.01](/filings/0001437749-24-033640.md) | not reported | [0.01](/filings/0001437749-25-016135.md) | [(0.01)](/filings/0001437749-25-024873.md) | [0.00](/filings/0001437749-25-033043.md) | not reported | [(0.02)](/filings/0001437749-26-014907.md) | [(0.02)](/filings/0001437749-26-025711.md) | [0.01](/filings/0001437749-25-033043.md) | not reported | [(0.04)](/filings/0001437749-26-014907.md) | [(0.04)](/filings/0001437749-26-025711.md) |
| Basic EPS | $ per share | [0.02](/filings/0001437749-24-033640.md) | not reported | [0.01](/filings/0001437749-25-016135.md) | [(0.01)](/filings/0001437749-25-024873.md) | [0.00](/filings/0001437749-25-033043.md) | not reported | [(0.02)](/filings/0001437749-26-014907.md) | [(0.02)](/filings/0001437749-26-025711.md) | [0.01](/filings/0001437749-25-033043.md) | not reported | [(0.04)](/filings/0001437749-26-014907.md) | [(0.04)](/filings/0001437749-26-025711.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [13.5](/filings/0001437749-23-030663.md) | [17.6](/filings/0001437749-25-006116.md) | [11.4](/filings/0001437749-24-015111.md) | [10.4](/filings/0001437749-24-024919.md) | [12.3](/filings/0001437749-24-033640.md) | [8.5](/filings/0001437749-26-006623.md) | [11.8](/filings/0001437749-25-016135.md) | [10.6](/filings/0001437749-25-024873.md) | [13.7](/filings/0001437749-25-033043.md) | [11.9](/filings/0001437749-26-025711.md) | [9.1](/filings/0001437749-26-014907.md) | [7.6](/filings/0001437749-26-025711.md) |
| Current assets | $m | [37.3](/filings/0001437749-23-030663.md) | [38.3](/filings/0001437749-25-006116.md) | [32.2](/filings/0001437749-24-015111.md) | [30.3](/filings/0001437749-24-024919.md) | [30.9](/filings/0001437749-24-033640.md) | [29.6](/filings/0001437749-26-006623.md) | [29.1](/filings/0001437749-25-016135.md) | [31.0](/filings/0001437749-25-024873.md) | [32.0](/filings/0001437749-25-033043.md) | [31.9](/filings/0001437749-26-025711.md) | [27.2](/filings/0001437749-26-014907.md) | [25.0](/filings/0001437749-26-025711.md) |
| Total assets | $m | [50.3](/filings/0001437749-23-030663.md) | [50.4](/filings/0001437749-25-006116.md) | [49.4](/filings/0001437749-24-015111.md) | [49.0](/filings/0001437749-24-024919.md) | [50.1](/filings/0001437749-24-033640.md) | [48.8](/filings/0001437749-26-006623.md) | [46.7](/filings/0001437749-25-016135.md) | [47.0](/filings/0001437749-25-024873.md) | [47.9](/filings/0001437749-25-033043.md) | [47.2](/filings/0001437749-26-025711.md) | [44.5](/filings/0001437749-26-014907.md) | [43.2](/filings/0001437749-26-025711.md) |
| Current liabilities | $m | [5.4](/filings/0001437749-23-030663.md) | [5.7](/filings/0001437749-25-006116.md) | [4.5](/filings/0001437749-24-015111.md) | [4.5](/filings/0001437749-24-024919.md) | [5.3](/filings/0001437749-24-033640.md) | [5.9](/filings/0001437749-26-006623.md) | [4.3](/filings/0001437749-25-016135.md) | [5.3](/filings/0001437749-25-024873.md) | [5.9](/filings/0001437749-25-033043.md) | [6.3](/filings/0001437749-26-025711.md) | [5.0](/filings/0001437749-26-014907.md) | [4.9](/filings/0001437749-26-025711.md) |
| Total liabilities | $m | [6.2](/filings/0001437749-23-030663.md) | [6.7](/filings/0001437749-25-006116.md) | [5.5](/filings/0001437749-24-015111.md) | [5.4](/filings/0001437749-24-024919.md) | [6.3](/filings/0001437749-24-033640.md) | [6.8](/filings/0001437749-26-006623.md) | [5.3](/filings/0001437749-25-016135.md) | [6.3](/filings/0001437749-25-024873.md) | [6.9](/filings/0001437749-25-033043.md) | [7.2](/filings/0001437749-26-025711.md) | [5.9](/filings/0001437749-26-014907.md) | [5.8](/filings/0001437749-26-025711.md) |
| Long-term debt | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Current portion of debt | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Short-term borrowings | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $m | [44.1](/filings/0001437749-24-033640.md) | [43.7](/filings/0001437749-26-006623.md) | [44.0](/filings/0001437749-25-033043.md) | [43.6](/filings/0001437749-25-033043.md) | [43.9](/filings/0001437749-25-033043.md) | [42.0](/filings/0001437749-26-025711.md) | [41.4](/filings/0001437749-26-025711.md) | [40.7](/filings/0001437749-26-025711.md) | [41.0](/filings/0001437749-25-033043.md) | [39.9](/filings/0001437749-26-025711.md) | [38.6](/filings/0001437749-26-025711.md) | [37.4](/filings/0001437749-26-025711.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: not reported
- Current portion of debt: not reported
- Short-term borrowings: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $k | [374 d](/filings/0001437749-24-033640.md) | [305 d](/filings/0001437749-25-006116.md) | [(1,075)](/filings/0001437749-25-016135.md) | [(1,589) d](/filings/0001437749-25-024873.md) | [879 d](/filings/0001437749-25-033043.md) | [(1,648) d](/filings/0001437749-26-006623.md) | [1,508](/filings/0001437749-26-014907.md) | [(21.0) d](/filings/0001437749-26-025711.md) | [3,096 d](/filings/0001437749-25-033043.md) | [(1,567) d](/filings/0001437749-26-006623.md) | [(847)](/filings/0001437749-26-014907.md) | [(894) d](/filings/0001437749-26-025711.md) |
| Capital expenditure | $k | [98.0 d](/filings/0001437749-24-033640.md) | [217 d](/filings/0001437749-25-006116.md) | [114](/filings/0001437749-25-016135.md) | [90.0 d](/filings/0001437749-25-024873.md) | [112 d](/filings/0001437749-25-033043.md) | [62.0 d](/filings/0001437749-26-006623.md) | [65.0](/filings/0001437749-26-014907.md) | [36.0 d](/filings/0001437749-26-025711.md) | [130 d](/filings/0001437749-25-033043.md) | [443 d](/filings/0001437749-26-006623.md) | [322](/filings/0001437749-26-014907.md) | [77.0 d](/filings/0001437749-26-025711.md) |
| Share repurchases | $k | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets
- Share repurchases: not reported

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [30.4](/filings/0001437749-23-030663.md) | [30.3](/filings/0001437749-24-015111.md) | [30.3](/filings/0001437749-24-024919.md) | [30.6](/filings/0001437749-24-033640.md) | [30.8](/filings/0001437749-25-016135.md) | [30.5](/filings/0001437749-25-024873.md) | [30.8](/filings/0001437749-25-033043.md) | [30.7](/filings/0001437749-26-014907.md) | [30.9](/filings/0001437749-26-025711.md) | [31.3](/filings/0001437749-25-033043.md) | [31.1](/filings/0001437749-26-014907.md) | [31.2](/filings/0001437749-26-025711.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 31,216,789 at 2026-07-31, from the cover of the [10-Q filed 2026-08-04](/filings/0001437749-26-025711.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:25 ET. No prices; not investment advice.