# OPAL Fuels Inc.: financial statements, quarterly

OPAL · Nasdaq · CIK 1842279 · [Utilities](/sectors/utilities.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/opal.md) · [Financials](/companies/opal/financials.md) · [Filings](/companies/opal/filings.md) · [Insiders](/companies/opal/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/opal/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 | $m | [70.0](/filings/0001842279-24-000061.md) | [85.0 d](/filings/0001842279-25-000049.md) | [64.0](/filings/0001628280-25-024828.md) | [69.8](/filings/0001628280-25-038997.md) | [82.6](/filings/0001628280-25-050643.md) | [74.5 d](/filings/0001628280-26-017908.md) | [83.0](/filings/0001628280-26-033091.md) | [77.4](/filings/0001628280-26-054995.md) | [77.9](/filings/0001628280-25-050643.md) | [88.4 d](/filings/0001628280-26-017908.md) | [67.4](/filings/0001628280-26-033091.md) | [79.7](/filings/0001628280-26-054995.md) |
| Research and development | $m | [1.0](/filings/0001842279-24-000061.md) | [0.9 d](/filings/0001842279-25-000049.md) | [0.8](/filings/0001628280-25-024828.md) | [2.9](/filings/0001628280-25-038997.md) | [6.8](/filings/0001628280-25-050643.md) | [8.6 d](/filings/0001628280-26-017908.md) | [6.1](/filings/0001628280-26-033091.md) | [3.5](/filings/0001628280-26-054995.md) | [2.5](/filings/0001628280-25-050643.md) | [2.8 d](/filings/0001628280-26-017908.md) | [1.8](/filings/0001628280-26-033091.md) | [3.3](/filings/0001628280-26-054995.md) |
| Selling, general and administrative | $m | [13.3](/filings/0001842279-24-000061.md) | [11.6 d](/filings/0001842279-25-000049.md) | [13.2](/filings/0001628280-25-024828.md) | [13.7](/filings/0001628280-25-038997.md) | [12.7](/filings/0001628280-25-050643.md) | [13.6 d](/filings/0001628280-26-017908.md) | [16.0](/filings/0001628280-26-033091.md) | [17.5](/filings/0001628280-26-054995.md) | [14.4](/filings/0001628280-25-050643.md) | [16.2 d](/filings/0001628280-26-017908.md) | [15.2](/filings/0001628280-26-033091.md) | [14.3](/filings/0001628280-26-054995.md) |
| Operating income | $m | [3.6](/filings/0001842279-24-000061.md) | [21.4 d](/filings/0001842279-25-000049.md) | [3.6](/filings/0001628280-25-024828.md) | [5.7](/filings/0001628280-25-038997.md) | [12.3](/filings/0001628280-25-050643.md) | [(0.3) d](/filings/0001628280-26-017908.md) | [(1.9)](/filings/0001628280-26-033091.md) | [(0.8)](/filings/0001628280-26-054995.md) | [3.6](/filings/0001628280-25-050643.md) | [6.6 d](/filings/0001628280-26-017908.md) | [(4.8)](/filings/0001628280-26-033091.md) | [(3.0)](/filings/0001628280-26-054995.md) |
| Interest expense | $m | not reported | not reported | not reported | not reported | not reported | not reported | [6.5](/filings/0001628280-26-033091.md) | [6.6](/filings/0001628280-26-054995.md) | not reported | not reported | [6.6](/filings/0001628280-26-033091.md) | [8.6](/filings/0001628280-26-054995.md) |
| Income tax | $m | [0.0](/filings/0001842279-23-000092.md) | [0.0 d](/filings/0001842279-25-000049.md) | [0.0](/filings/0001842279-24-000032.md) | [0.0](/filings/0001842279-24-000046.md) | not reported | not reported | [(8.0)](/filings/0001628280-26-033091.md) | [(13.7)](/filings/0001628280-26-054995.md) | not reported | not reported | [(5.7)](/filings/0001628280-26-033091.md) | [(4.7)](/filings/0001628280-26-054995.md) |
| Net income | $m | [0.2](/filings/0001842279-24-000061.md) | [20.1 d](/filings/0001842279-25-000049.md) | [0.7](/filings/0001628280-25-024828.md) | [1.9](/filings/0001628280-25-038997.md) | [17.1](/filings/0001628280-25-050643.md) | [(5.4) d](/filings/0001628280-26-017908.md) | [1.3](/filings/0001628280-26-033091.md) | [7.6](/filings/0001628280-26-054995.md) | [11.4](/filings/0001628280-25-050643.md) | [16.2 d](/filings/0001628280-26-017908.md) | [(5.6)](/filings/0001628280-26-033091.md) | [(4.1)](/filings/0001628280-26-054995.md) |
| Diluted EPS | $ per share | [(0.01)](/filings/0001842279-24-000061.md) | not reported | [(0.01)](/filings/0001628280-25-024828.md) | [(0.01)](/filings/0001628280-25-038997.md) | [0.09](/filings/0001628280-25-050643.md) | not reported | [(0.01)](/filings/0001628280-26-033091.md) | [0.03](/filings/0001628280-26-054995.md) | [0.05](/filings/0001628280-25-050643.md) | not reported | [(0.09)](/filings/0001628280-26-033091.md) | [(0.05)](/filings/0001628280-26-054995.md) |
| Basic EPS | $ per share | [(0.01)](/filings/0001842279-24-000061.md) | not reported | [(0.01)](/filings/0001628280-25-024828.md) | [(0.01)](/filings/0001628280-25-038997.md) | [0.09](/filings/0001628280-25-050643.md) | not reported | [(0.01)](/filings/0001628280-26-033091.md) | [0.03](/filings/0001628280-26-054995.md) | [0.05](/filings/0001628280-25-050643.md) | not reported | [(0.09)](/filings/0001628280-26-033091.md) | [(0.05)](/filings/0001628280-26-054995.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:ProfitLoss
- 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 | [15.0](/filings/0001842279-23-000092.md) | [38.3](/filings/0001842279-25-000049.md) | [28.2](/filings/0001842279-24-000032.md) | [19.0](/filings/0001842279-24-000046.md) | [20.3](/filings/0001842279-24-000061.md) | [24.3](/filings/0001628280-26-017908.md) | [40.1](/filings/0001628280-25-024828.md) | [29.3](/filings/0001628280-25-038997.md) | [29.9](/filings/0001628280-25-050643.md) | [24.4](/filings/0001628280-26-054995.md) | [133](/filings/0001628280-26-033091.md) | [91.4](/filings/0001628280-26-054995.md) |
| Current assets | $m | [106](/filings/0001842279-23-000092.md) | [128](/filings/0001842279-25-000049.md) | [106](/filings/0001842279-24-000032.md) | [105](/filings/0001842279-24-000046.md) | [123](/filings/0001842279-24-000061.md) | [117](/filings/0001628280-26-017908.md) | [116](/filings/0001628280-25-024828.md) | [123](/filings/0001628280-25-038997.md) | [123](/filings/0001628280-25-050643.md) | [123](/filings/0001628280-26-054995.md) | [213](/filings/0001628280-26-033091.md) | [163](/filings/0001628280-26-054995.md) |
| Total assets | $m | [690](/filings/0001842279-23-000092.md) | [755](/filings/0001842279-25-000049.md) | [750](/filings/0001842279-24-000032.md) | [782](/filings/0001842279-24-000046.md) | [831](/filings/0001842279-24-000061.md) | [881](/filings/0001628280-26-017908.md) | [885](/filings/0001628280-25-024828.md) | [906](/filings/0001628280-25-038997.md) | [917](/filings/0001628280-25-050643.md) | [959](/filings/0001628280-26-054995.md) | [1,061](/filings/0001628280-26-033091.md) | [1,040](/filings/0001628280-26-054995.md) |
| Current liabilities | $m | [56.9](/filings/0001842279-23-000092.md) | [74.3](/filings/0001842279-25-000049.md) | [75.4](/filings/0001842279-24-000032.md) | [81.1](/filings/0001842279-24-000046.md) | [97.8](/filings/0001842279-24-000061.md) | [104](/filings/0001628280-26-017908.md) | [102](/filings/0001628280-25-024828.md) | [98.2](/filings/0001628280-25-038997.md) | [83.5](/filings/0001628280-25-050643.md) | [104](/filings/0001628280-26-054995.md) | [97.1](/filings/0001628280-26-033091.md) | [89.9](/filings/0001628280-26-054995.md) |
| Total liabilities | $m | [254](/filings/0001842279-23-000092.md) | [297](/filings/0001842279-25-000049.md) | [297](/filings/0001842279-24-000032.md) | [328](/filings/0001842279-24-000046.md) | [361](/filings/0001842279-24-000061.md) | [416](/filings/0001628280-26-017908.md) | [420](/filings/0001628280-25-024828.md) | [432](/filings/0001628280-25-038997.md) | [434](/filings/0001628280-25-050643.md) | [462](/filings/0001628280-26-054995.md) | [549](/filings/0001628280-26-033091.md) | [524](/filings/0001628280-26-054995.md) |
| Long-term debt | $m | [174](/filings/0001842279-23-000092.md) | [197](/filings/0001842279-25-000049.md) | [195](/filings/0001842279-24-000032.md) | [218](/filings/0001842279-24-000046.md) | [235](/filings/0001842279-24-000061.md) | [285](/filings/0001628280-25-050643.md) | [292](/filings/0001628280-25-024828.md) | [313](/filings/0001628280-25-038997.md) | [330](/filings/0001628280-25-050643.md) | [361](/filings/0001628280-26-017908.md) | [457](/filings/0001628280-26-033091.md) | [440](/filings/0001628280-26-054995.md) |
| Shareholders' equity | $m | [(853)](/filings/0001842279-23-000092.md) | [(479)](/filings/0001842279-25-000049.md) | [(382)](/filings/0001842279-24-000032.md) | [(273)](/filings/0001842279-24-000046.md) | [(180)](/filings/0001842279-24-000061.md) | [(148)](/filings/0001628280-26-017908.md) | [57.1](/filings/0001628280-25-024828.md) | [(25.0)](/filings/0001628280-25-038997.md) | [7.5](/filings/0001628280-25-050643.md) | [(12.9)](/filings/0001628280-26-054995.md) | [8.2](/filings/0001628280-26-033091.md) | [26.4](/filings/0001628280-26-054995.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: us-gaap:LongTermDebtNoncurrent, us-gaap:LongTermDebt
- 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 | $m | [(3.0) d](/filings/0001842279-24-000061.md) | [33.4 d](/filings/0001842279-25-000049.md) | [13.7](/filings/0001628280-25-024828.md) | [0.5 d](/filings/0001628280-25-038997.md) | [17.7 d](/filings/0001628280-25-050643.md) | [(0.5) d](/filings/0001628280-26-017908.md) | [29.7](/filings/0001628280-26-033091.md) | [(7.9) d](/filings/0001628280-26-054995.md) | [18.2 d](/filings/0001628280-25-050643.md) | [(3.5) d](/filings/0001628280-26-017908.md) | [12.9](/filings/0001628280-26-033091.md) | [10.8 d](/filings/0001628280-26-054995.md) |
| Capital expenditure | $m | [20.2 d](/filings/0001842279-24-000061.md) | [21.6 d](/filings/0001842279-25-000049.md) | [26.8](/filings/0001628280-25-024828.md) | [23.0 d](/filings/0001628280-25-038997.md) | [23.1 d](/filings/0001628280-25-050643.md) | [54.4 d](/filings/0001628280-26-017908.md) | [11.6](/filings/0001628280-26-033091.md) | [21.8 d](/filings/0001628280-26-054995.md) | [27.5 d](/filings/0001628280-25-050643.md) | [9.8 d](/filings/0001628280-26-017908.md) | [24.4](/filings/0001628280-26-033091.md) | [28.3 d](/filings/0001628280-26-054995.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## 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 | [25.8](/filings/0001842279-23-000092.md) | [27.4](/filings/0001842279-24-000032.md) | [27.2](/filings/0001842279-24-000046.md) | [27.0](/filings/0001842279-24-000061.md) | [27.4](/filings/0001628280-25-024828.md) | [27.7](/filings/0001628280-25-038997.md) | [27.7](/filings/0001628280-25-050643.md) | [27.7](/filings/0001628280-26-033091.md) | [29.2](/filings/0001628280-26-054995.md) | [29.6](/filings/0001628280-25-050643.md) | [28.3](/filings/0001628280-26-033091.md) | [29.6](/filings/0001628280-26-054995.md) |

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

Shares outstanding: 25,171,390 at 2022-08-05, from the cover of the [10-Q filed 2022-08-10](/filings/0001193125-22-216411.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:49 ET. No prices; not investment advice.