Fuel Tech reports Q2 2022 revenue of $6.4M, up 22% YoY; net loss narrows to $0.01/sh

FUEL TECH, INC.

2022-Q2 EPS reported -$0.04 revenue$11,903,000

Revenue $6.4M (+22% YoY); APC up $1.8M to $2.7M, FUEL CHEM down $0.6M to $3.6M.
Operating loss $(0.5)M vs $(0.7)M; net loss $(0.4)M or $(0.01)/share vs $(0.03) prior year.
Gross margin 42.1% vs 49.5% due to product mix shift and higher material/freight/labor costs.
Cash and equivalents $31.3M; restricted $2.0M; no debt; backlog $10.5M vs $9.1M at year-end.
DGI technology validated: >99% oxygen transfer efficiency; white paper with independent experts pending.

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