Filing Flows › Fuel Tech (FTEK) › Q3 2026
Fuel Tech (FTEK) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
Fuel Tech (FTEK) reported revenue of $8.7M for the third quarter 2026 (Q3 2026), +16% from a year earlier and +34% from the quarter before. Operating margin was -6.0%, net loss $267K (3.1% of revenue).
Fuel Tech, Q3 2026: revenue $8.7M (+16% year over year), operating margin -6.0%, net loss $267K, operating cash flow −$1.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.7M | +34% | +16% |
| Operating profit | −$523K | — | -13175% |
| Net earnings | −$267K | — | -188% |
| Operating cash flow | −$1.7M | — | -154% |
What changed
Revenue was $8.7M in Q3 2026, up 16% year over year and up 34% from the previous quarter. FUEL CHEM was the largest line at 57% of revenue. Air Pollution Control added $1.0M year over year (up 38%), 88% of the total change.
Gross margin was 45.0%, down 3.9 points from Q3 2025. Operating costs exceeded revenue by $523K, an operating margin of -6.0%. Operating expenses grew 21% against revenue growth of 16%. The fastest-growing cost line was Research & development (+71%). The quarter ended with a net loss of $267K, narrower than the previous quarter's $1.2M loss. Non-operating items added $256K, -96% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$1.7M. Non-cash charges added back $184K of depreciation and $63K of share-based compensation. Working capital and other items used $1.6M. Capital expenditures of $106K exceeded it, leaving free cash flow of −$1.8M.
Questions
What was Fuel Tech's revenue in the third quarter 2026?
Fuel Tech (FTEK) reported revenue of $8.7M for the third quarter 2026 (Q3 2026), +16% from a year earlier and +34% from the quarter before.
Was Fuel Tech profitable in the third quarter 2026?
Operating loss was $523K (-6.0% of revenue) and net loss $267K.
Source: Fuel Tech 10-Q on SEC EDGAR.