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Fuel Tech, Inc. (FTEK) reported a return to quarterly profitability. For Q3 2025, revenue was $7,490 thousand versus $7,851 thousand a year ago, while net income rose to $303 thousand and diluted EPS was $0.01. Gross margin improved to 49% from 43%, with both FUEL CHEM and Air Pollution Control (APC) contributing higher margins.
Nine‑month revenue was $19,430 thousand versus $19,850 thousand last year, with a net loss of $1,125 thousand. Operating cash flow strengthened to $4,583 thousand, cash and cash equivalents were $13,677 thousand, and the company reported no debt, aside from $3,141 thousand in standby letters of credit backed by $4,711 thousand of collateralized investments. APC backlog was $9,472 thousand as of September 30, 2025, with $7,134 thousand expected over the next 12 months. As a subsequent event, Fuel Tech purchased Wahlco, Inc. intellectual property for $350 on October 3, 2025. Shares outstanding were 31,074,438 as of October 31, 2025.
Fuel Tech, Inc. filed a current report to notify investors that it has released its financial results for the fiscal quarter ended September 30, 2025. On November 4, 2025, the company issued a press release announcing these quarterly results, which is furnished as Exhibit 99.1.
The report states that no financial statements of acquired businesses or pro forma financial information are included, and it lists the press release and the cover page interactive data file as the primary exhibits.