FTEK (Fuel Tech, Inc.) Stock Financials & Earnings | Market Cap Arena

FTEK (Fuel Tech, Inc.) Stock Financials & Earnings | Market Cap Arena

FTEKFuel Tech, Inc.

Mkt Cap$40M

Industrials·Industrial - Pollution & Treatment Controls·🇺🇸 United States·NASDAQ

Revenue (TTM)$27M

Net Income (TTM)-$2M

EPS (TTM)-$0.08

Free Cash Flow (TTM)$3M

Gross Margin46.4%

Op. Margin-13.8%

Net Margin-8.7%

FCF Margin10.6%

P/S Ratio (TTM)1.5x

P/E Ratio (TTM)—

YoY Rev Growth+6.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$7M	$3M	-$658K
Q2 23	$5M	$2M	-$1M
Q3 23	$8M	$4M	$133K
Q4 23	$6M	$3M	-$801K
Q1 24	$5M	$2M	-$2M
Q2 24	$7M	$3M	-$715K
Q3 24	$8M	$3M	-$179K
Q4 24	$5M	$2M	-$2M
Q1 25	$6M	$3M	-$952K
Q2 25	$6M	$3M	-$1M
Q3 25	$7M	$4M	$4K
Q4 25	$7M	$3M	-$1M

Valuation

Quarter	P/S	P/E
Q1 23	1.4x	—
Q2 23	1.4x	—
Q3 23	1.4x	—
Q4 23	1.5x	—
Q1 24	1.6x	—
Q2 24	1.5x	—
Q3 24	1.5x	—
Q4 24	1.6x	—
Q1 25	1.5x	—
Q2 25	1.6x	—
Q3 25	1.6x	—
Q4 25	1.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$1M	$980K
Q2 23	-$993K	-$1M
Q3 23	$374K	$276K
Q4 23	$305K	$88K
Q1 24	-$1M	-$1M
Q2 24	-$2M	-$2M
Q3 24	$879K	$767K
Q4 24	-$2M	-$2M
Q1 25	$2M	$1M
Q2 25	-$21K	-$21K
Q3 25	$3M	$3M
Q4 25	-$2M	-$2M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$30K
Q2 23	$73K
Q3 23	$98K
Q4 23	$217K
Q1 24	$114K
Q2 24	$90K
Q3 24	$112K
Q4 24	$62K
Q1 25	$65K
Q2 25	$0
Q3 25	$130K
Q4 25	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+31.7%	+21.9%
Q2 23	-14.2%	-0.9%
Q3 23	-0.4%	+0.4%
Q4 23	-9.6%	-1.7%
Q1 24	-32.0%	-16.3%
Q2 24	+29.0%	+14.2%
Q3 24	-1.7%	+2.2%
Q4 24	-16.7%	+3.5%
Q1 25	+28.7%	+10.3%
Q2 25	-21.1%	-11.5%
Q3 25	-4.6%	-6.8%
Q4 25	+37.2%	+17.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$89K	1.2%
Q2 23	$98K	1.8%
Q3 23	$101K	1.3%
Q4 23	$101K	1.6%
Q1 24	$104K	2.1%
Q2 24	$124K	1.8%
Q3 24	$109K	1.4%
Q4 24	$109K	2.1%
Q1 25	$110K	1.7%
Q2 25	$102K	1.8%
Q3 25	$57K	0.8%
Q4 25	$57K	0.8%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 23	$218K	$3M
Q2 23	$413K	$3M
Q3 23	$513K	$3M
Q4 23	$367K	$4M
Q1 24	$376K	$3M
Q2 24	$422K	$3M
Q3 24	$361K	$3M
Q4 24	$405K	$4M
Q1 25	$570K	$3M
Q2 25	$490K	$3M
Q3 25	$450K	$3M
Q4 25	$504K	$4M

Revenue Segments

Quarter	Air Pollution Control	Fuel Chem
Q1 23	$4M	$4M
Q2 23	$3M	$2M
Q3 23	$4M	$4M

Revenue by Geography

Quarter	Asia	Europe	Latin America	United States	Americas	Africa
Q3 23	$1M	$1M	$157K	$6M	—	—
Q4 23	$289K	$664K	—	$5M	$577K	—
Q1 24	$191K	$856K	$315K	$4M	—	—
Q2 24	$590K	$2M	$293K	$4M	—	—
Q3 24	$664K	$2M	$208K	$5M	—	—
Q1 25	$160K	$477K	$348K	$5M	—	$38K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$16M	$11M	$27M
Q2 23	$15M	$13M	$28M
Q3 23	$13M	$15M	$28M
Q4 23	$18M	$12M	$30M
Q1 24	$11M	$12M	$23M
Q2 24	$10M	$10M	$20M
Q3 24	$12M	$8M	$20M
Q4 24	$9M	$10M	$19M
Q1 25	$12M	$10M	$22M
Q2 25	$11M	$12M	$23M
Q3 25	$14M	$12M	$26M
Q4 25	$12M	$13M	$25M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	30M	+0.0%
Q2 23	30M	+0.1%
Q3 23	31M	+1.0%
Q4 23	30M	-0.8%
Q1 24	31M	+1.2%
Q2 24	30M	-0.9%
Q3 24	31M	+1.2%
Q4 24	31M	-0.5%
Q1 25	31M	+0.0%
Q2 25	31M	+0.5%
Q3 25	31M	+1.4%
Q4 25	31M	-0.7%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$399K	198
FY 15	$405K	182
FY 16	$378K	146
FY 17	$370K	122
FY 18	$500K	113
FY 19	$372K	82
FY 20	$309K	73
FY 21	$332K	73
FY 22	$408K	66
FY 23	$376K	72
FY 24	$349K	72
FY 25	$346K	77