---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-013317"
form_type: "8-K"
ticker: "FTEK"
cik: "0000846913"
company_name: "FUEL TECH, INC."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T11:13:19.777901+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Fuel Tech Q1 revenue up 32% to $7.3M, net loss narrows to $0.4M

## Summary
- Net loss of $0.4M ($0.01 EPS) vs $1.0M ($0.03 EPS) in Q1 2022.
- APC backlog of $7.6M; FUEL CHEM revenue rose to $3.7M from $3.3M.
- Cash & investments total $33.8M with zero long-term debt.
- New APC awards of $5.2M; EPA Good Neighbor Plan cited as potential catalyst.
- DGI unit plans on-site demonstration of small-scale oxygen infusion late Q2/early Q3.

## SEC filing metadata
- accession: 0001437749-23-013317
- form_type: 8-K
- ticker: FTEK
- cik: 0000846913
- company_name: FUEL TECH, INC.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/846913/000143774923013317/0001437749-23-013317-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/846913/000143774923013317/ftek20230504_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013317
- JSON: https://secwatch.observer/filing/0001437749-23-013317.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013317.txt

## Key facts
- Earnings Releases
  FUEL TECH, INC. reported first quarter ended March 31, 2023 results: revenue $7.3 million, net income $(0.4) million, EPS $(0.01) per share. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2023
  - Revenue: $7.3 million
  - Net income: $(0.4) million
  - EPS: $(0.01) per share
  - Guidance: reaffirmed
  - Result: reported results
  source text: Consolidated revenues for the first quarter ended March 31, 2023 (“Q1 2023”) rose 31.7% to $7.3 million from $5.5 million in the first quarter ended March 31, 2022 (“Q1 2022”), reflecting higher revenues at APC and FUEL CHEM. Consolidated gross margin for Q1 2023 was 38.5% of revenues compared to 41.4% of revenues in Q1 2022, reflecting changes in product and project mix. SG&A expenses rose to $3.2 million from $3.1 million in Q1 2022, reflecting higher employee-related expenses partially offset by lower administrative costs and depreciation. As a percentage of consolidated revenues, SG&A expenses declined to 45% from 55%. Operating loss for the quarter was $(0.7) million compared to an operating loss of $(1.0) million in Q1 2022. Interest income improved to $0.3 million from $0.001 million in Q1 2022, reflecting higher interest rates on held-to-maturity debt securities and money market funds. Net loss in Q1 2023 narrowed to $(0.4) million, or $(0.01) per share, from a net loss of $(1.
  evidence_url: https://www.sec.gov/Archives/edgar/data/846913/000143774923013317/0001437749-23-013317-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.