HDSN

MKT CAP:$267M

Hudson Technologies, Inc.

Market Cap

$267M

Basic Materials·Chemicals - Specialty·🇺🇸 United States·NASDAQ

Materials·Chemicals·🇺🇸·NASDAQ

Stock Price

$6.30-$0.50 (-7.35%)

Apr 24, 2026

Company Details

Hudson Technologies, Inc. a refrigerant services company, provides solutions to recurring problems within the refrigeration industry primarily in the United States. The company's products and services include refrigerant and industrial gas ...

CEO

Kenneth Gaglione

IPO Date

Nov 1, 1994

Website

www.hudsontech.com

Key Metrics TTM

Revenue

$247M

+4.0% YoY

Net Income

$17M

EPS (Diluted)

$0.36

Free Cash Flow

-$8M

Revenue / Share

$5.73

Gross Margin

25.2%

Operating Margin

7.5%

Net Margin

6.8%

FCF Margin

-3.3%

P/S

1.1x

P/E

16.0x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Mar 16, 2026

$247M+4.0%EPS $0.37

Q4 2025

Mar 16, 2026

$44M+28.2%EPS -$0.20

Q3 2025

Nov 7, 2025

$74M+19.5%EPS $0.27

Q2 2025

Aug 1, 2025

$73M-3.2%EPS $0.23

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$84M	$46M	$38M
Q2 22	$104M	$57M	$50M
Q3 22	$90M	$44M	$36M
Q4 22	$47M	$15M	$7M
Q1 23	$77M	$30M	$23M
Q2 23	$90M	$37M	$28M
Q3 23	$76M	$31M	$23M
Q4 23	$45M	$14M	$5M
Q1 24	$65M	$21M	$13M
Q2 24	$75M	$23M	$13M
Q3 24	$62M	$16M	$7M
Q4 24	$35M	$6M	-$3M
Q1 25	$55M	$12M	$3M
Q2 25	$73M	$23M	$13M
Q3 25	$74M	$24M	$14M
Q4 25	$44M	$4M	-$11M

Valuation

Quarter	P/S	P/E
Q1 22	1.1x	4.2x
Q2 22	0.9x	2.9x
Q3 22	0.8x	2.5x
Q4 22	0.8x	2.6x
Q1 23	0.8x	3.0x
Q2 23	0.9x	3.9x
Q3 23	0.9x	5.0x
Q4 23	0.9x	5.1x
Q1 24	1.0x	5.8x
Q2 24	1.0x	7.3x
Q3 24	1.1x	8.6x
Q4 24	1.1x	10.9x
Q1 25	1.2x	15.2x
Q2 25	1.2x	14.7x
Q3 25	1.1x	11.7x
Q4 25	1.1x	16.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$5M	$5M
Q2 22	$29M	$28M
Q3 22	$26M	$25M
Q4 22	$3M	$855.0K
Q1 23	$11M	$10M
Q2 23	$11M	$10M
Q3 23	$22M	$21M
Q4 23	$15M	$14M
Q1 24	-$933.0K	-$2M
Q2 24	$42M	$41M
Q3 24	$30M	$29M
Q4 24	$21M	$19M
Q1 25	$14M	$13M
Q2 25	$6M	$6M
Q3 25	$9M	$7M
Q4 25	-$33M	-$34M

Capital Expenditures

Quarter	CapEx
Q1 22	$27.0K
Q2 22	$793.0K
Q3 22	$895.0K
Q4 22	$2M
Q1 23	$412.0K
Q2 23	$425.0K
Q3 23	$1M
Q4 23	$1M
Q1 24	$960.0K
Q2 24	$1M
Q3 24	$2M
Q4 24	$2M
Q1 25	$1M
Q2 25	$464.0K
Q3 25	$2M
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+149.7%	+43.5%
Q2 22	+71.7%	+17.3%
Q3 22	+47.6%	+21.6%
Q4 22	+25.6%	+41.9%
Q1 23	-8.5%	+18.5%
Q2 23	-13.0%	+16.0%
Q3 23	-14.5%	+0.4%
Q4 23	-5.5%	-0.6%
Q1 24	-15.5%	-3.8%
Q2 24	-16.8%	-0.5%
Q3 24	-19.0%	+3.0%
Q4 24	-22.8%	-5.6%
Q1 25	-15.2%	-0.4%
Q2 25	-3.2%	-3.8%
Q3 25	+19.5%	+9.2%
Q4 25	+28.2%	+46.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$403.0K	0.5%
Q2 22	$180.0K	0.2%
Q3 22	$247.0K	0.3%
Q4 22	$92.0K	0.2%
Q1 23	$1M	1.4%
Q2 23	$762.0K	0.8%
Q3 23	$242.0K	0.3%
Q4 23	$245.0K	0.5%
Q1 24	$279.0K	0.4%
Q2 24	$472.0K	0.6%
Q3 24	$0	0.0%
Q4 24	$34.0K	0.1%
Q1 25	$45.0K	0.1%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q1 22	—	$7M
Q2 22	—	$7M
Q3 22	—	$7M
Q4 22	—	$8M
Q1 23	—	$7M
Q2 23	$8M	—
Q3 23	—	$7M
Q4 23	—	$9M
Q1 24	—	$8M
Q2 24	—	$9M
Q3 24	—	$8M
Q4 24	—	$8M
Q1 25	—	$8M
Q2 25	—	$9M
Q3 25	—	$9M
Q4 25	—	$14M

Revenue Segments

Quarter	Product	Refrigerant Side Services
Q3 24	$60M	$2M
Q1 25	$54M	$1M
Q2 25	$71M	$2M
Q3 25	$72M	$2M
Q4 25	$43M	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$5M	$0	$5M
Q2 22	$21M	$0	$21M
Q3 22	$15M	$0	$15M
Q4 22	$5M	$0	$5M
Q1 23	$12M	$0	$12M
Q2 23	$11M	$0	$11M
Q3 23	$4M	$0	$4M
Q4 23	$12M	$0	$12M
Q1 24	$11M	$0	$11M
Q2 24	$31M	$0	$31M
Q3 24	$56M	$0	$56M
Q4 24	$70M	$0	$70M
Q1 25	$81M	$0	$81M
Q2 25	$84M	$0	$84M
Q3 25	$90M	$0	$90M
Q4 25	$39M	$0	$39M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	47M	-1.2%	+7.8%
Q2 22	47M	+0.9%	+1.6%
Q3 22	47M	+0.1%	+0.5%
Q4 22	47M	+0.1%	-0.2%
Q1 23	47M	+0.2%	+1.2%
Q2 23	47M	-0.0%	+0.3%
Q3 23	47M	+0.1%	+0.3%
Q4 23	47M	+0.2%	+0.4%
Q1 24	47M	+0.0%	+0.3%
Q2 24	47M	-0.4%	-0.0%
Q3 24	47M	-0.3%	-0.4%
Q4 24	45M	-4.8%	-5.4%
Q1 25	46M	+1.7%	-3.9%
Q2 25	45M	-1.0%	-4.5%
Q3 25	45M	+0.2%	-4.0%
Q4 25	43M	-4.9%	-4.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$388.7K	217
Q2 22	$479.0K	217
Q3 22	$412.5K	217
Q4 22	$204.5K	232
Q1 23	$332.8K	232
Q2 23	$390.0K	232
Q3 23	$329.7K	232
Q4 23	$189.3K	237
Q1 24	$275.3K	237
Q2 24	$317.6K	237
Q3 24	$261.4K	237
Q4 24	$145.6K	238
Q1 25	$232.5K	238
Q2 25	$306.1K	238
Q3 25	$311.0K	238
Q4 25	$158.0K	281

Revenue / Employee