Filing Flows › Opal Fuels (OPAL) › Q3 2026 › vs Q3 2025
Opal Fuels (OPAL) Q3 2026 vs Q3 2025 (year over year)
Opal Fuels's revenue fell $3.9M (-5%) from $83.4M in Q3 2025 to $79.5M in Q3 2026. The biggest changes: Fuel Station Services −$2.0M (-4%); Renewable Power Segment −$1.5M (-17%); RNG fuel −$432K (-2%). Operating margin 11.1% against 5.8% (+5.3 pts).
Opal Fuels, Q3 2026: revenue $79.5M (-5% year over year), operating margin 11.1%, net earnings $1.7M, operating cash flow $16.3M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 11.1% | 5.8% | +5.3 pts |
| Net margin | 2.1% | -2.3% | +4.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Fuel Station Services | $49.7M | $51.7M | −$2.0M | -4% |
| RNG fuel | $22.5M | $22.9M | −$432K | -2% |
| Renewable Power Segment | $7.3M | $8.7M | −$1.5M | -17% |
| Revenue | $79.5M | $83.4M | −$3.9M | -5% |
| Operating profit | $8.8M | $4.9M | $4.0M | +82% |
| Costs & expenses | $70.7M | $78.5M | −$7.8M | -10% |
| Pre-tax earnings | $1.7M | $19.8M | −$18.1M | -92% |
| Other expense, net | $7.2M | −$15.0M | $22.1M | — |
| Research & development | $2.7M | $2.5M | $201K | +8% |
| SG&A | $12.4M | $11.3M | $1.1M | +10% |
| Other operating costs | $55.5M | $64.6M | −$9.2M | -14% |
| Net earnings | $1.7M | −$1.9M | $3.6M | — |
| Depreciation & amortization | $5.0M | $5.2M | −$183K | -4% |
| Share-based compensation | $2.3M | $902K | $1.4M | +152% |
| Working capital & other | $7.3M | $158K | $7.2M | 46× |
| Operating cash flow | $16.3M | $4.4M | $11.9M | +273% |
| Capital expenditures | $18.3M | $27.5M | −$9.2M | -33% |
| Negative free cash flow (OCF − capex) | $2.0M | $23.1M | −$21.1M | -91% |
Questions
How much did Opal Fuels's revenue grow year over year in Q3 2026?
Opal Fuels's revenue fell $3.9M (-5%) from $83.4M in Q3 2025 to $79.5M in Q3 2026.
What drove Opal Fuels's revenue change in Q3 2026?
Fuel Station Services −$2.0M (-4%); Renewable Power Segment −$1.5M (-17%); RNG fuel −$432K (-2%).