Financial Data and Key Metrics Changes - For Q2 2022, consolidated revenues rose by 22% to $6.4 million from $5.2 million in Q2 2021, driven by an increase in the APC segment revenue [31][10] - Consolidated gross margin was 42.1%, down from 49.5% in Q2 2021, reflecting lower gross profit margins from both operating segments [32] - The net loss for the quarter was $356,000 or $0.01 per share, compared to a net loss of $778,000 or $0.03 per share in Q2 2021 [37] Business Line Data and Key Metrics Changes - APC revenues increased by approximately $1.8 million to $2.7 million from $1 million in Q2 2021, reflecting project execution timing and revenue generation from new orders [31][13] - FUEL CHEM revenues declined to $3.6 million from $4.2 million in Q2 2021, primarily due to the loss of one customer and unforeseen plant outages [32][15] - APC gross margin was 34.2%, down from 48.6% in Q2 2021, while FUEL CHEM gross margin was 48%, slightly down from 49.7% in the same period last year [33] Market Data and Key Metrics Changes - The consolidated APC segment backlog rose to $10.5 million from $9.1 million at the end of 2021, with expectations to recognize $8.4 million of this backlog in the next 12 months [34] - Increased energy demand is driving coal-fired plants to be dispatched despite rising coal prices, creating opportunities for pollution control projects [17][18] Company Strategy and Development Direction - The company is focused on new contract awards, expedient execution, and technology innovation, particularly in the DGI segment [40] - The company is pursuing a global sales pipeline of $50 million to $75 million, tracking projects with contract values of $5 million to $10 million expected to be awarded soon [14][10] - The company is investigating providing chemical technology solutions for emissions from high-sulfur fuel oil in Mexico, with potential significant revenue opportunities [24][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that APC revenues for the year will exceed $6.9 million reported for 2021, potentially as early as the end of Q3 2022 [13][10] - The company is optimistic about the DGI technology's potential and is preparing for further investment and commercialization efforts [57][58] - Management noted that the recent legislation could provide long-term benefits for technologies that enhance the utilization of fossil fuels [52][55] Other Important Information - The company had total cash of more than $33 million with no long-term debt as of June 30, 2022 [11] - SG&A expenses fell to $2.9 million from $3 million in Q2 2021, with a target for 2022 set between $12 million and $12.5 million [35] Q&A Session Summary Question: Clarification on FUEL CHEM revenues - Management confirmed that the expected revenue range for FUEL CHEM for 2022 is $13 million to $15 million, with a long-term customer deciding to continue using the program [48] Question: Anticipation of revenue increase from Q2 to Q3 - Management expects a typical step-up in revenues from Q2 to Q3, particularly for the FUEL CHEM segment [49] Question: Size of the opportunity in Mexico - The opportunity in Mexico involves 20 to 25 units that could utilize the company's program, with potential annual royalty revenues of $3 million to $4 million from a single plant site [50][51] Question: Impact of IRA legislation on the company - Management indicated that the legislation could provide benefits by preserving the utilization of fossil fuels, which could positively impact the company's technologies [52][55] Question: Resources for DGI commercialization - Management stated that further investment in DGI will be assessed after hiring experienced leadership in water and wastewater treatment [56][57]

Revenue Performance - Revenues for Q2 2022 were $6,368 million, an increase of $1,150 million or 22% compared to Q2 2021[87]. - The APC technology segment generated revenues of $2,738 million for Q2 2022, a 178% increase from $986 million in Q2 2021[88]. - The FUEL CHEM technology segment reported revenues of $3,630 million for Q2 2022, a decrease of $602 million or 14% from Q2 2021[89]. Gross Margin and Expenses - Consolidated gross margin for Q2 2022 was 42%, down from 50% in Q2 2021, primarily due to decreased operating segment gross margins[90]. - Selling, general and administrative expenses (SG&A) for Q2 2022 were $2,874 million, a decrease of $83 million from $2,957 million in Q2 2021, with SG&A as a percentage of revenues decreasing to 45% from 57%[92]. - Research and development expenses for Q2 2022 were $289 million, down from $315 million in Q2 2021, focusing on new product development and technologies[94]. Tax and Cash Position - The consolidated effective tax rate is projected to be approximately 0% for 2022, significantly lower than the federal income tax rate of 21%[95]. - Cash and cash equivalents as of June 30, 2022, totaled $33,298 million, with working capital of $36,953 million and no outstanding debt[99]. Investment and Backlog - The company plans to invest $10,000 million in held-to-maturity debt securities of U.S. Treasuries and U.S. Government Agency securities[107]. - The consolidated APC backlog as of June 30, 2022, was $10,547 million, with a global sales pipeline estimated between $50 million and $75 million[86]. Financing and Liabilities - Fuel Tech raised gross proceeds of $25.812 million from a private placement of 5,000,000 shares of Common Stock and 2,500,000 warrants, with associated fees of $1.783 million[110]. - The Company received $1.556 million in loan proceeds from the Paycheck Protection Program, which was fully forgiven on January 8, 2021, resulting in a reduction of non-current liabilities and recognition of other income[111]. - There was no change in the warranty liability balance during the six months ended June 30, 2022[112]. Currency Fluctuations - Fuel Tech's earnings and cash flow are subject to fluctuations due to changes in foreign currency exchange rates, with no hedging contracts in place due to the immaterial nature of transactions[114].

Fuel Tech, Inc. (NASDAQ:FTEK) Q1 2022 Earnings Conference Call May 11, 2022 10:00 AM ET Company Participants Devin Sullivan - Senior Vice President, The Equity Group Vince Arnone - President and Chief Executive Officer Ellen Albrecht - Principal Financial Officer Conference Call Participants Amit Dayal - H.C. Wainwright William Bremer - Vanquish Capital Partners Greeting, welcome to the Fuel Tech’s First Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______. Commission file number: 001-33059 FUEL TECH, INC. (Exact name of registrant as specified in its charter) Delaware 20-5657551 (State or other ...

Start Time: 10:00 January 1, 0000 10:38 AM ET Fuel Tech, Inc. (NASDAQ:FTEK) Q4 2021 Earnings Conference Call March 09, 2022, 10:00 AM ET Company Participants Vince Arnone - Chairman, President and CEO Ellen Albrecht - Acting Treasurer and Controller and Principal Financial Officer Devin Sullivan - SVP, The Equity Group Inc. Conference Call Participants Amit Dayal - H.C. Wainwright Pete Enderlin - MAZ Partners Operator Hello, and welcome to the Fuel Tech, Inc. Fourth Quarter 2021 Financial Results Conference ...

Financial Performance - Revenues for the year ended December 31, 2021, were $24,261 million, an increase of $1,711 million or 8% compared to 2020[128]. - U.S. revenues increased by $893 million or 5%, while international revenues increased by $818 million or 21%[129]. - Revenues for the FUEL CHEM technology segment were $17,365 million, an increase of $3,372 million or 24% compared to 2020[131]. - Consolidated gross margin percentage increased to 49% in 2021 from 47% in 2020[132]. - The net income for 2021 was $54,000, compared to a net loss of $4,278,000 in 2020, showing a significant turnaround[169]. - Total revenues for Fuel Tech in 2021 were $23,979,000, an increase from $20,000,000 in 2020, with international revenues contributing $4,746,000, representing 20% of total revenues[178]. - Total revenues for the year ended December 31, 2021, were $24,261 million, an increase of 7.6% from $22,550 million in 2020[246]. Cost Management - In 2021, the Company reduced selling, general, and administrative expenses by 11% compared to fiscal 2020[86]. - Selling, general and administrative expenses decreased by $1,545 million or 11% from 2020 to 2021[134]. - Research and development expenses increased to $1,332 million in 2021 from $1,177 million in 2020, focusing on new product development[135]. - The company reported a stock compensation expense of $82,000 in 2021, down from $290,000 in 2020, reflecting cost management efforts[173]. - Costs related to the defined contribution retirement savings plan were $206 million in 2021, down from $222 million in 2020[236]. Cash Flow and Liquidity - Cash and cash equivalents at December 31, 2021, were $35,893 million, up from $10,640 million at the end of 2020[140]. - Operating activities provided cash of $761 million for the year ended December 31, 2021, primarily due to a decrease in accounts receivable balances[141]. - The company experienced a net cash increase of $24,448,000 in 2021, ending the year with cash, cash equivalents, and restricted cash totaling $37,054,000[173]. - The company has sufficient cash and working capital to operate its base Air Pollution Control and FUEL CHEM businesses for the next 12 months[145]. - Total current assets increased to $41,465 in 2021 from $21,073 in 2020, reflecting a significant improvement in liquidity[165]. Project and Contract Management - The APC business faced project delays and cancellations, resulting in a consolidated backlog of $9,119 and a global sales pipeline of $50-75 million[90]. - As of December 31, 2021, contract assets for APC technology projects were approximately $1,277, down from $2,079 in 2020[108]. - Contract liabilities decreased to $390 in 2021 from $850 in 2020, indicating improved cash flow management[109]. - Remaining performance obligations amounted to $9,119 million as of December 31, 2021, with an expected revenue recognition of approximately $5,608 million over the next 12 months[252]. Investment and Technology Development - The Company continues to invest in new technologies for water pollution control and treatment, expanding its product offerings[86]. - Fuel Tech's research and development efforts focus on air pollution control technologies, with significant investments made to enhance its proprietary portfolio[177]. - The company has installed over 1,200 units with APC technology, providing performance guarantees based on operational conditions[221]. Shareholder and Stock Information - The company issued 5,000,000 shares of common stock and 2,500,000 warrants in a private placement, generating gross proceeds of $25,812 million[273]. - The calculated fair value allocated to the warrants is $7,337 million, recorded as Additional paid in capital[275]. - As of December 31, 2021, there were 434,500 stock options outstanding with a weighted-average exercise price of $3.05[283]. - The company had basic weighted-average shares of 29,585,000 in 2021, up from 24,691,000 in 2020, indicating an increase in share count[238]. Tax and Deferred Assets - The effective income tax rate for 2021 was 20.6%, compared to (1.4)% in 2020[259]. - Deferred tax assets totaled $14,916 million as of December 31, 2021, down from $15,963 million in 2020[259]. - As of December 31, 2021, the company has approximately $27,701 million of U.S. net operating loss carryforwards available to offset future U.S. taxable income[266].

Financial Data and Key Metrics Changes - Consolidated revenues for Q3 2021 declined to $7.6 million from $8.2 million in Q3 2020, reflecting higher revenues in the FUEL CHEM segment offset by a decline in the APC segment [18] - Net income was $678,000, or $0.02 per diluted share, compared to net income of $2.4 million, or $0.09 per diluted share in Q3 2020, which included a $2.6 million insurance settlement [22] - Adjusted EBITDA was $0.9 million in Q3 2021 compared to $2.7 million in the same period last year [22] - Consolidated gross margin for Q3 2021 was 49.2% of revenues, compared to 72.4% in Q3 2020, including the insurance settlement [20] Business Line Data and Key Metrics Changes - FUEL CHEM segment revenues increased to $5.6 million from $5.3 million in Q3 2020, benefiting from the current installed base and higher power demand [18][8] - APC segment revenues declined to $1.9 million in Q3 2021 from $2.9 million in Q3 2020, primarily due to project delays and cancellations related to the COVID-19 pandemic [19] - APC gross margin in Q3 2021 was $810,000 or 41.7% of revenue, compared to a significantly inflated margin in Q3 2020 due to an insurance settlement [19] Market Data and Key Metrics Changes - The company reported a backlog of $8.2 million in the APC segment as of September 30, 2021, which includes $4.5 million of new contract awards announced in Q3 2021 [20] - The global sales pipeline for the APC segment increased to $50 million to $75 million from $40 million to $50 million [11] Company Strategy and Development Direction - The company is broadening its portfolio of environmental remediation solutions, particularly with the DGI business focused on wastewater treatment [9] - The company is pursuing new opportunities both domestically and internationally for its FUEL CHEM technology, including addressing emissions from high sulfur fuel oil in Mexico [10] - The company is monitoring the infrastructure bill in Congress, which may include options beyond traditional renewable energy, potentially benefiting Fuel Tech [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the next 12 to 18 months, noting an increase in contract opportunities and larger dollar value contracts [36] - The company anticipates some pressure on the FUEL CHEM business due to the planned shutdown of a long-term installation [9] - Management indicated that they do not expect dramatic increases in SG&A expenses unless resources are added to support the DGI initiative [35] Other Important Information - Cash and cash equivalents were reported at $35.2 million as of September 30, 2021, with no debt [23] - SG&A expenses declined by 12% compared to Q3 2020, reflecting decreases in employee-related costs [21] Q&A Session Summary Question: Impact of FUEL CHEM customer shutting down operations - Management expects approximately a 3% to 5% impact in revenues from the shutdown of one particular customer [30] Question: Potential to make up for lost revenues - Management indicated that there are opportunities to recover the lost revenue from other customers, with visibility into potential new contracts [31] Question: Expectations for operating costs moving forward - Management expects SG&A expenses to remain stable, with potential increases only if resources are added for the DGI initiative [35] Question: Prospects for revenue growth in the next 12 to 18 months - Management noted an increase in larger contract opportunities, which had not been seen in the past two years due to COVID-19 [36]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______. Commission file number: 001-33059 FUEL TECH, INC. (Exact name of registrant as specified in its charter) Delaware 20-5657551 (State or ot ...

Fuel Tech, Inc. (NASDAQ:FTEK) Q2 2021 Earnings Conference Call August 11, 2021 10:00 AM ET Company Participants Devin Sullivan - Investor Relations Vince Arnone - President and Chief Executive Officer Ellen Albrecht - Principal Financial Officer Conference Call Participants Sameer Joshi - H.C. Wainwright Pete Enderlin - MAZ Partners Operator Greetings. Welcome to the Fuel Tech Second Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______. Commission file number: 001-33059 FUEL TECH, INC. (Exact name of registrant as specified in its charter) Delaware 20-5657551 (State or other j ...