Fuel Tech Q1 revenue rises 29% to $6.4M; backlog up 66%; net loss narrows

FUEL TECH, INC.

2025-Q1 EPS reported -$0.02 revenue$6,382,000

Revenue rose 29% to $6.4M; gross margin expanded to 46.4% from 40.9%.
Net loss $(739K) ($0.02/sh); Q1 2024 had $1.7M one-time ERC credit; ex-ERC pro forma net loss $(1.4M).
FUEL CHEM revenue up 92% to $5.1M; APC revenue down 44% to $1.3M.
Backlog rose 66% to $10.3M; cash and investments $31.2M, no long-term debt.

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