Filing Flows › Opal Fuels (OPAL) › Q1 2025
Opal Fuels (OPAL) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
Opal Fuels (OPAL) reported revenue of $85.4M for the first quarter 2025 (Q1 2025), +31% from a year earlier and +7% from the quarter before. Operating margin was -2.3%, net earnings $1.3M (1.5% of revenue).
Opal Fuels, Q1 2025: revenue $85.4M (+32% year over year), operating margin -2.3%, net earnings $1.3M, operating cash flow $29.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $85.4M | +7% | +31% |
| Operating profit | −$1.9M | — | — |
| Net earnings | $1.3M | — | — |
| Operating cash flow | $29.7M | — | +116% |
| Free cash flow | $18.1M | — | — |
What changed
Revenue was $85.4M in Q1 2025, up 31% year over year and up 7% from the previous quarter. Fuel Station Services Segment was the largest line at 59% of revenue. Fuel Station Services Segment added $13.5M year over year (up 36%), 66% of the total change. Renewable Power Segment declined 29%.
Operating costs exceeded revenue by $1.9M, an operating margin of -2.3%. Total costs grew 42% against revenue growth of 31%. The fastest-growing cost line was Research & development (+675%). Net earnings were −$235K.
Operating cash flow was $29.7M (up 116% year over year), 2311% of net income including minority interests. Non-cash charges added back $5.9M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items added $20.7M. Capital expenditures of $11.6M left free cash flow of $18.1M.
Questions
What was Opal Fuels' revenue in the first quarter 2025?
Opal Fuels (OPAL) reported revenue of $85.4M for the first quarter 2025 (Q1 2025), +31% from a year earlier and +7% from the quarter before.
Was Opal Fuels profitable in the first quarter 2025?
Operating loss was $1.9M (-2.3% of revenue) and net earnings $1.3M.
Source: Opal Fuels 10-Q on SEC EDGAR.