FUEL TECH, INC. — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that FUEL TECH, INC. filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2019 | Dec 31, 2019 | $4.91M | Mar 12, 2020 |
| FY2019 | Sep 30, 2019 | $6.45M | Mar 12, 2020 |
| FY2019 | Jun 30, 2019 | $8.95M | Mar 12, 2020 |
| FY2019 | Mar 31, 2019 | $10.16M | Mar 12, 2020 |
| FY2019 | Dec 31, 2018 | $15.83M | Mar 12, 2020 |
| FY2019 | Sep 30, 2018 | $16.07M | Mar 12, 2020 |
| FY2019 | Jun 30, 2018 | $11.85M | Mar 12, 2020 |
| FY2019 | Mar 31, 2018 | $12.79M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | $13.39M | Mar 14, 2019 |
| FY2018 | Sep 30, 2017 | $13.55M | Mar 14, 2019 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $26.68M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | $25.13M | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | $27.08M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $26.94M | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $24.26M | Mar 7, 2023 |
| FY2020 | Dec 31, 2020 | $6.22M | Mar 15, 2021 |
| FY2020 | Sep 30, 2020 | $8.16M | Mar 15, 2021 |
| FY2020 | Jun 30, 2020 | $4.40M | Mar 15, 2021 |
| FY2020 | Mar 31, 2020 | $3.78M | Mar 15, 2021 |
| FY2020 | Dec 31, 2019 | $4.91M | Mar 15, 2021 |
Revenue (Net Sales)
Net sales revenue — gross revenue less returns, allowances, and discounts. Used by many manufacturers and retailers as the primary top-line figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2015 | Dec 31, 2015 | $18.20M | Mar 24, 2016 |
| FY2015 | Sep 30, 2015 | $21.68M | Mar 24, 2016 |
| FY2015 | Jun 30, 2015 | $18.68M | Mar 24, 2016 |
| FY2015 | Mar 31, 2015 | $15.10M | Mar 24, 2016 |
| FY2015 | Dec 31, 2014 | $18.68M | Mar 24, 2016 |
| FY2015 | Sep 30, 2014 | $21.48M | Mar 24, 2016 |
| FY2015 | Jun 30, 2014 | $20.19M | Mar 24, 2016 |
| FY2015 | Mar 31, 2014 | $18.66M | Mar 24, 2016 |
| FY2014 | Dec 31, 2013 | $24.21M | Mar 16, 2015 |
| FY2014 | Sep 30, 2013 | $21.48M | Mar 16, 2015 |
Gross Profit
Revenue minus the cost of goods sold (COGS). Gross profit shows how much revenue remains to cover operating expenses, R&D, and administrative costs before calculating operating income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $12.38M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | $10.62M | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | $11.66M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $11.64M | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $11.90M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $10.64M | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | $10.83M | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | $20.06M | Mar 12, 2020 |
| FY2019 | Dec 31, 2017 | $18.02M | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | $18.79M | Mar 14, 2019 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($2.32M) | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | ($1.94M) | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | ($1.54M) | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | ($1.44M) | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $54.0K | Mar 7, 2023 |
| FY2020 | Dec 31, 2020 | ($1.54M) | Mar 15, 2021 |
| FY2020 | Sep 30, 2020 | $2.38M | Mar 15, 2021 |
| FY2020 | Jun 30, 2020 | ($2.54M) | Mar 15, 2021 |
| FY2020 | Mar 31, 2020 | ($2.57M) | Mar 15, 2021 |
| FY2020 | Dec 31, 2019 | ($4.34M) | Mar 15, 2021 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($3.68M) | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | ($4.70M) | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | ($2.66M) | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | ($1.53M) | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | ($1.49M) | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | ($4.34M) | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | ($8.24M) | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | $110.0K | Mar 12, 2020 |
| FY2019 | Dec 31, 2017 | ($7.07M) | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | ($12.02M) | Mar 14, 2019 |
R&D Expense
Spending on research and development activities — developing new products, improving existing ones, or conducting basic research. High R&D relative to revenue is common in technology and pharmaceutical companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $2.01M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | $1.56M | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | $1.51M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $895.0K | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $1.33M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $1.18M | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | $1.13M | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | $1.07M | Mar 12, 2020 |
| FY2019 | Dec 31, 2017 | $1.07M | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | $1.75M | Mar 14, 2019 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $14.05M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | $13.76M | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | $12.80M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $12.28M | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $12.06M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $13.60M | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | $17.19M | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | $18.56M | Mar 12, 2020 |
| FY2019 | Dec 31, 2017 | $20.93M | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | $25.56M | Mar 14, 2019 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $3.02M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | ($3.43M) | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | $696.0K | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | ($4.14M) | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $761.0K | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | ($2.71M) | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | ($3.39M) | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | $4.93M | Mar 12, 2020 |
| FY2019 | Dec 31, 2017 | ($3.57M) | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | ($2.74M) | Mar 14, 2019 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $47.18M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | $48.80M | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | $50.39M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $50.12M | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $49.97M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $30.09M | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | $31.61M | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | $51.72M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | $50.48M | Mar 14, 2019 |
| FY2017 | Dec 31, 2016 | $57.79M | Mar 12, 2018 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $7.25M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | $6.84M | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | $6.67M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $5.28M | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $3.77M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $7.77M | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | $5.43M | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | $17.67M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | $16.31M | Mar 14, 2019 |
| FY2017 | Dec 31, 2016 | $14.40M | Mar 12, 2018 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $39.93M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | $41.96M | Mar 3, 2026 |
| FY2025 | Dec 31, 2023 | $43.71M | Mar 3, 2026 |
| FY2024 | Dec 31, 2022 | $44.84M | Mar 4, 2025 |
| FY2023 | Dec 31, 2021 | $46.20M | Mar 11, 2024 |
| FY2022 | Dec 31, 2020 | $22.32M | Mar 7, 2023 |
| FY2021 | Dec 31, 2019 | $26.18M | Mar 8, 2022 |
| FY2020 | Dec 31, 2018 | $34.05M | Mar 15, 2021 |
| FY2019 | Dec 31, 2017 | $34.17M | Mar 12, 2020 |
| FY2019 | Dec 31, 2016 | $42.69M | Mar 12, 2020 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $2.12M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | $2.12M | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | $2.12M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $2.12M | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $2.12M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $2.12M | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | $2.12M | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | $2.12M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | $2.12M | Mar 14, 2019 |
| FY2017 | Dec 31, 2016 | $2.12M | Mar 12, 2018 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($121.80M) | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | ($119.47M) | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | ($117.53M) | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | ($115.99M) | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | ($114.55M) | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | ($114.60M) | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | ($110.33M) | Mar 15, 2021 |
| FY2020 | Jan 1, 2019 | ($102.47M) | Mar 15, 2021 |
| FY2020 | Dec 31, 2018 | ($102.50M) | Mar 15, 2021 |
| FY2019 | Jan 1, 2018 | ($102.47M) | Mar 12, 2020 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $11.94M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | $8.51M | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | $17.58M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $23.33M | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | $35.89M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $10.64M | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | $10.91M | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | $12.04M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | $8.37M | Mar 14, 2019 |
| FY2017 | Dec 31, 2016 | $11.83M | Mar 12, 2018 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | 0 | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | 0 | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | 0 | Mar 7, 2023 |
| FY2020 | Dec 31, 2020 | 0 | Mar 15, 2021 |
| FY2020 | Sep 30, 2020 | 0 | Mar 15, 2021 |
| FY2020 | Jun 30, 2020 | 0 | Mar 15, 2021 |
| FY2020 | Mar 31, 2020 | 0 | Mar 15, 2021 |
| FY2020 | Dec 31, 2019 | 0 | Mar 15, 2021 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | 0 | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | 0 | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | 0 | Mar 7, 2023 |
| FY2020 | Dec 31, 2020 | 0 | Mar 15, 2021 |
| FY2020 | Sep 30, 2020 | 0 | Mar 15, 2021 |
| FY2020 | Jun 30, 2020 | 0 | Mar 15, 2021 |
| FY2020 | Mar 31, 2020 | 0 | Mar 15, 2021 |
| FY2020 | Dec 31, 2019 | 0 | Mar 15, 2021 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 31.07M | Mar 3, 2026 |
| FY2025 | Dec 31, 2024 | 30.71M | Mar 3, 2026 |
| FY2024 | Dec 31, 2023 | 30.39M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | 30.30M | Mar 11, 2024 |
| FY2022 | Dec 31, 2021 | 30.26M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | 25.23M | Mar 8, 2022 |
| FY2020 | Dec 31, 2019 | 24.59M | Mar 15, 2021 |
| FY2019 | Dec 31, 2018 | 24.17M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | 24.13M | Mar 14, 2019 |
| FY2017 | Dec 31, 2016 | 23.45M | Mar 12, 2018 |