Filing Flows › Fuel Tech (FTEK) › Q1 2026
Fuel Tech (FTEK) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Fuel Tech (FTEK) reported revenue of $6.1M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -16% from the quarter before. Operating margin was -26.2%, net loss $1.4M (22.3% of revenue).
Fuel Tech, Q1 2026: revenue $6.1M (-5% year over year), operating margin -26.2%, net loss $1.4M, operating cash flow −$847K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.1M | -16% | -5% |
| Operating profit | −$1.6M | — | — |
| Net earnings | −$1.4M | — | — |
| Operating cash flow | −$847K | — | -156% |
What changed
Revenue was $6.1M in Q1 2026, down 5% year over year and down 16% from the previous quarter. FUEL CHEM was the largest line at 74% of revenue. FUEL CHEM lost $603K year over year (down 12%), 200% of the total change.
Gross margin was 43.5%, down 2.9 points from Q1 2025. Operating costs exceeded revenue by $1.6M, an operating margin of -26.2%. Operating expenses grew 8% against a revenue fall of 5%. The fastest-growing cost line was SG&A (+11%). The quarter ended with a net loss of $1.4M, wider than the previous quarter's $1.2M loss.
Operating cash flow was −$847K. Non-cash charges added back $175K of depreciation and $56K of share-based compensation. Working capital and other items added $277K. Capital expenditures of $322K exceeded it, leaving free cash flow of −$1.2M.
Questions
What was Fuel Tech's revenue in the first quarter 2026?
Fuel Tech (FTEK) reported revenue of $6.1M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -16% from the quarter before.
Was Fuel Tech profitable in the first quarter 2026?
Operating loss was $1.6M (-26.2% of revenue) and net loss $1.4M.
Source: Fuel Tech 10-Q on SEC EDGAR.