NASDAQ: FTEK
FUEL TECH, INC.CIK 0000846913 · SIC 3564 · Industrial & Commercial Fans & Blowers & Air Purifing Equip
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Latest financial statements
From 10-Q filed Aug 4, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per-share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | 6,485 | 5,558 | 12,565 | 11,940 |
| Costs and expenses: | ||||
| Cost of sales | 3,810 | 3,029 | 7,246 | 6,452 |
| Selling, general and administrative | 3,594 | 3,347 | 7,310 | 6,688 |
| Research and development | 646 | 490 | 1,170 | 1,060 |
| 8,050 | 6,866 | 15,726 | 14,200 | |
| Operating loss | (1,565) | (1,308) | (3,161) | (2,260) |
| Interest income | 266 | 537 | 506 | 816 |
| Other income, net | 79 | 86 | 79 | 20 |
| Loss before income taxes | (1,220) | (685) | (2,576) | (1,424) |
| Income tax expense | (10) | (4) | (9) | (4) |
| Net loss | (1,230) | (689) | (2,585) | (1,428) |
| Net loss per common share: | ||||
| Basic net loss per common share | (0.04) | (0.02) | (0.08) | (0.05) |
| Diluted net loss per common share | (0.04) | (0.02) | (0.08) | (0.05) |
| Weighted-average number of common shares outstanding: | ||||
| Basic | 31,181,000 | 30,868,000 | 31,137,000 | 30,796,000 |
| Diluted | 31,181,000 | 30,868,000 | 31,137,000 | 30,796,000 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 7,620 | 11,939 |
| Short-term investments | 11,991 | 12,942 |
| Accounts receivable, less current expected credit loss of $107 and $108, respectively | 3,904 | 5,355 |
| Inventories, net | 358 | 373 |
| Prepaid expenses and other current assets | 1,153 | 1,335 |
| Total current assets | 25,026 | 31,944 |
| Property and equipment, net of accumulated depreciation of $17,608 and $19,433, respectively | 4,782 | 4,739 |
| Goodwill | 2,116 | 2,116 |
| Other intangible assets, net of accumulated amortization of $604 and $561, respectively | 604 | 646 |
| Right-of-use operating lease assets, net | 490 | 536 |
| Long-term investments | 9,974 | 6,991 |
| Other assets | 202 | 207 |
| Total assets | 43,194 | 47,179 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 2,817 | 3,242 |
| Accrued liabilities: | ||
| Operating lease liabilities current | 94 | 89 |
| Employee compensation | 718 | 1,308 |
| Other accrued liabilities | 1,279 | 1,634 |
| Total current liabilities | 4,908 | 6,273 |
| Operating lease liabilities non-current | 439 | 491 |
| Deferred income taxes, net | 187 | 187 |
| Other liabilities | 293 | 296 |
| Total liabilities | 5,827 | 7,247 |
| Stockholders’ equity: | ||
| Common stock, $.01 par value, 40,000,000 shares authorized, 32,457,627 and 32,281,179 shares issued, and 31,216,789 and 31,074,438 shares outstanding, respectively | 324 | 322 |
| Additional paid-in capital | 165,712 | 165,616 |
| Accumulated deficit | (124,381) | (121,796) |
| Accumulated other comprehensive loss | (1,751) | (1,718) |
| Nil coupon perpetual loan notes | 76 | 76 |
| Treasury stock, at cost | (2,613) | (2,568) |
| Total stockholders’ equity | 37,367 | 39,932 |
| Total liabilities and stockholders’ equity | 43,194 | 47,179 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating Activities | ||
| Net loss | (2,585) | (1,428) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation | 353 | 327 |
| Amortization | 44 | 18 |
| Interest income on held-to-maturity securities, net of premium amortization and discount accretion | 67 | (90) |
| Provision for credit losses, net of recoveries | (1) | — |
| Stock-based compensation, net of forfeitures | 98 | 212 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 1,434 | 1,987 |
| Employee retention credit receivable | — | 1,232 |
| Inventory | 15 | (218) |
| Prepaid expenses, other current assets and other non-current assets | 182 | 77 |
| Accounts payable | (417) | (833) |
| Accrued liabilities and other non-current liabilities | (931) | 203 |
| Net cash (used in) provided by operating activities | (1,741) | 1,487 |
| Investing Activities | ||
| Purchases of equipment and patents | (399) | (101) |
| Purchases of debt securities | (9,103) | (4,949) |
| Maturities of debt securities | 7,000 | 5,750 |
| Net cash (used in) provided by investing activities | (2,502) | 700 |
| Financing Activities | ||
| Taxes paid on behalf of equity award participants | (45) | (222) |
| Net cash used in financing activities | (45) | (222) |
| Effect of exchange rate fluctuations on cash | (31) | 114 |
| Net (decrease) increase in cash and cash equivalents | (4,319) | 2,079 |
| Cash and cash equivalents at beginning of period | 11,939 | 8,510 |
| Cash and cash equivalents at end of period | 7,620 | 10,589 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except share and per-share data); (in thousands, except share and per share data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗