Filing Flows › Opal Fuels (OPAL) › Q1 2026 › vs Q1 2025
Opal Fuels (OPAL) Q1 2026 vs Q1 2025 (year over year)
Opal Fuels's revenue fell $12.0M (-14%) from $85.4M in Q1 2025 to $73.4M in Q1 2026. The biggest changes: Fuel Station Services −$6.1M (-12%); RNG fuel −$6.0M (-22%); Renewable Power Segment +$41K (+0.6%).
Opal Fuels, Q1 2026: revenue $73.4M (-14% year over year), operating margin -6.6%, net loss $5.6M, operating cash flow $12.9M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Fuel Station Services | $44.6M | $50.7M | −$6.1M | -12% |
| RNG fuel | $21.6M | $27.6M | −$6.0M | -22% |
| Renewable Power Segment | $7.2M | $7.1M | $41K | +0.6% |
| Revenue | $73.4M | $85.4M | −$12.0M | -14% |
| Income tax benefit | $5.7M | $8.0M | −$2.3M | -29% |
| Net loss | $5.6M | −$1.3M | $6.9M | — |
| Costs & expenses | $84.7M | $93.4M | −$8.8M | -9% |
| Operating costs | $78.2M | $87.3M | −$9.1M | -10% |
| Interest & other, net | $6.5M | $4.8M | $1.6M | +34% |
| Research & development | $1.8M | $6.1M | −$4.3M | -70% |
| SG&A | $15.2M | $16.0M | −$783K | -5% |
| Other operating costs | $61.2M | $65.3M | −$4.1M | -6% |
| Operating cash sources | $18.5M | $28.4M | −$9.9M | -35% |
| Depreciation & amortization | $5.6M | $5.9M | −$329K | -6% |
| Share-based compensation | $2.1M | $1.8M | $304K | +17% |
| Working capital & other | $10.8M | $20.7M | −$9.9M | -48% |
| Net loss absorbed | $5.6M | −$1.3M | $6.9M | — |
| Operating cash flow | $12.9M | $29.7M | −$16.8M | -56% |
| Capital expenditures | $24.4M | $11.6M | $12.8M | +111% |
| Negative free cash flow (OCF − capex) | $11.5M | −$18.1M | $29.6M | — |
Questions
How much did Opal Fuels's revenue grow year over year in Q1 2026?
Opal Fuels's revenue fell $12.0M (-14%) from $85.4M in Q1 2025 to $73.4M in Q1 2026.
What drove Opal Fuels's revenue change in Q1 2026?
Fuel Station Services −$6.1M (-12%); RNG fuel −$6.0M (-22%); Renewable Power Segment +$41K (+0.6%).