Filing Flows › Hudson Technologies (HDSN) › Q3 2026 › vs Q3 2025
Hudson Technologies (HDSN) Q3 2026 vs Q3 2025 (year over year)
Hudson Technologies's revenue fell $14.6M (-20%) from $74.0M in Q3 2025 to $59.4M in Q3 2026. The biggest changes: Product −$14.5M (-20%); Refrigerant Side Services −$61K (-3%). Gross margin 24.9% against 32.0% (-7.1 pts).
Hudson Technologies, Q3 2026: revenue $59.4M (-20% year over year), operating margin 5.5%, net earnings $2.0M, operating cash flow $10.1M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 24.9% | 32.0% | -7.1 pts |
| Operating margin | 5.5% | 18.9% | -13.4 pts |
| Net margin | 3.4% | 16.7% | -13.3 pts |
| Free cash flow margin | 16.3% | 9.1% | +7.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Product | $57.5M | $72.0M | −$14.5M | -20% |
| Refrigerant Side Services | $1.9M | $2.0M | −$61K | -3% |
| Revenue | $59.4M | $74.0M | −$14.6M | -20% |
| Gross profit | $14.8M | $23.7M | −$8.9M | -37% |
| Cost of revenue | $44.6M | $50.3M | −$5.7M | -11% |
| Operating profit | $3.3M | $14.0M | −$10.7M | -77% |
| Operating expenses | $11.5M | $9.7M | $1.8M | +19% |
| Pre-tax earnings | $3.2M | $16.4M | −$13.1M | -80% |
| SG&A | $10.8M | $8.9M | $1.9M | +22% |
| Other operating costs | $740K | $823K | −$83K | -10% |
| Net earnings | $2.0M | $12.4M | −$10.3M | -84% |
| Income tax | $1.2M | $4.0M | −$2.8M | -70% |
| Depreciation & amortization | $866K | $603K | $263K | +44% |
| Share-based compensation | $232K | $93K | $139K | +149% |
| Working capital & other | $7.0M | −$4.3M | $11.3M | — |
| Operating cash flow | $10.1M | $8.8M | $1.3M | +15% |
| Free cash flow (OCF − capex) | $9.7M | $6.7M | $2.9M | +43% |
| Capital expenditures | $475K | $2.1M | −$1.6M | -77% |
Questions
How much did Hudson Technologies's revenue grow year over year in Q3 2026?
Hudson Technologies's revenue fell $14.6M (-20%) from $74.0M in Q3 2025 to $59.4M in Q3 2026.
What drove Hudson Technologies's revenue change in Q3 2026?
Product −$14.5M (-20%); Refrigerant Side Services −$61K (-3%).