Company Overview - Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services in the Heating, Ventilation, Air Conditioning, and Refrigeration industry [2] - The company has been a significant player in refrigerant reclamation, being one of the largest in the United States, with multimillion-dollar investments in advanced separation technology [2] - Hudson Technologies offers a range of services including refrigerant and industrial gas sales, refrigerant management services, and on-site system decontamination [2] Products and Services - The company provides certified EMERALD Refrigerants™ that meet the Air-Conditioning, Heating, and Refrigeration Institute standards for reuse [2] - SmartEnergy OPS® is a web-based real-time continuous monitoring service for refrigeration and energy systems [2] - The company also offers predictive and diagnostic services through its Chiller Chemistry® and Chill Smart® services [2] Upcoming Events - Brian Coleman, President and CEO of Hudson Technologies, will present at the 24th Annual B. Riley Securities Institutional Investor Conference on May 22, 2024 [1] - The presentation is scheduled for 2:30 p.m. PT, and one-on-one meetings will be available throughout the day [1]

[Part I. Financial Information](index=3&type=section&id=Part%20I.%20Financial%20Information) This section presents the company's unaudited consolidated financial statements and management's analysis for the quarter ended March 31, 2024 [Item 1. Financial Statements](index=3&type=section&id=Item%201%20-%20Financial%20Statements) Q1 2024 unaudited consolidated financial statements show total assets decreased to **$294.2 million**, liabilities to **$55.6 million**, revenues to **$65.3 million**, net income to **$9.6 million**, and operating cash flow turned negative at **$0.9 million** [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) This section presents the company's consolidated balance sheets as of March 31, 2024, and December 31, 2023 Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $10,551 | $12,446 | | Inventories | $147,759 | $154,450 | | Total current assets | $203,484 | $204,995 | | Goodwill | $47,803 | $47,803 | | **Total Assets** | **$294,163** | **$296,672** | | **Liabilities & Equity** | | | | Total current liabilities | $47,358 | $58,551 | | **Total Liabilities** | **$55,552** | **$67,899** | | Retained earnings | $119,789 | $110,227 | | **Total Stockholders' Equity** | **$238,611** | **$228,773** | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) This section details the company's consolidated statements of income for the three months ended March 31, 2024 and 2023 Consolidated Income Statement Highlights (in thousands, except per share amounts) | Metric | Q1 2024 | Q1 2023 | Change (YoY) | | :--- | :--- | :--- | :--- | | Revenues | $65,250 | $77,199 | -15.5% | | Gross profit | $21,421 | $30,330 | -29.4% | | Operating income | $12,776 | $22,655 | -43.6% | | Net income | $9,562 | $15,531 | -38.4% | | Diluted EPS | $0.20 | $0.33 | -39.4% | [Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) This section outlines changes in the company's consolidated stockholders' equity for the quarter ended March 31, 2024 - Total Stockholders' Equity increased to **$238.6 million** as of March 31, 2024, up from **$228.8 million** at the beginning of the year, primarily driven by net income of **$9.6 million** for the quarter[13](index=13&type=chunk) [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This section presents the company's consolidated statements of cash flows for the three months ended March 31, 2024 and 2023 Consolidated Cash Flow Highlights (in thousands) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(933) | $10,666 | | Net cash used in investing activities | $(960) | $(412) | | Net cash used in financing activities | $(2) | $(3,227) | | **Increase (decrease) in cash** | **$(1,895)** | **$7,027** | [Notes to the Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed explanatory notes to the company's consolidated financial statements - The company operates as a single reportable segment focused on refrigerant services, including sales, reclamation, and on-site services, with its business subject to AIM Act regulations mandating HFC refrigerant phase-down, making reclamation critical for future supply[17](index=17&type=chunk)[18](index=18&type=chunk)[22](index=22&type=chunk) - In Q1 2024, one customer accounted for over **10% of revenues**, with an outstanding accounts receivable balance of **$11.9 million** at quarter-end[30](index=30&type=chunk) Revenue by Type (in thousands) | Revenue Type | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Product and related sales | $63,811 | $75,983 | | RefrigerantSide ® Services | $1,439 | $1,216 | | **Total** | **$65,250** | **$77,199** | - As of March 31, 2024, the company had no outstanding balance on its **$75 million** revolving credit facility, having fully repaid its Term Loan Facility and FILO Tranche in the third quarter of 2023[96](index=96&type=chunk)[107](index=107&type=chunk)[158](index=158&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202%20-%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 2024 revenues decreased **15%** to **$65.3 million** due to lower prices, gross margin contracted as cost of sales rose to **67%**, and net income fell to **$9.6 million**, with working capital at **$156.1 million** - Revenues for Q1 2024 decreased by **15%** year-over-year, mainly due to lower selling prices of certain refrigerants[124](index=124&type=chunk) - Cost of sales as a percentage of revenue increased from **61%** in Q1 2023 to **67%** in Q1 2024, driven by the sale of higher-cost inventory[125](index=125&type=chunk) - Interest expense dropped significantly to **$0.2 million** in Q1 2024 from **$1.8 million** in Q1 2023, following the full repayment of the Term Loan Facility in Q3 2023[127](index=127&type=chunk) - Net cash used in operating activities was **$0.9 million**, a stark contrast to the **$10.7 million** provided by operating activities in the prior-year period, mainly due to payments of accounts payable and timing of receivables and inventory[133](index=133&type=chunk) - The company's business is seasonal, with peak sales typically occurring in the first nine months of the year, and unseasonably cool weather can adversely affect demand for refrigerants[156](index=156&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=26&type=section&id=Item%203%20-%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from interest rate fluctuations on variable-rate debt and volatility in refrigerant demand, price, and availability - The company is exposed to interest rate risk on its Amended Wells Fargo Facility, although there was no outstanding balance as of March 31, 2024[158](index=158&type=chunk) - Significant market risk exists from fluctuations in the demand, price, and availability of refrigerants, which could lead to reduced revenues or inventory write-downs[159](index=159&type=chunk) [Item 4. Controls and Procedures](index=26&type=section&id=Item%204%20-%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[160](index=160&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended March 31, 2024, that have materially affected, or are reasonably likely to materially affect, these controls[161](index=161&type=chunk) [Part II. Other Information](index=27&type=section&id=Part%20II.%20Other%20Information) This section provides additional information not covered in the financial statements, including risk factors and exhibits [Item 1A. Risk Factors](index=27&type=section&id=Item%201A%20-%20Risk%20Factors) No material changes to the risk factors previously disclosed in the company's Form 10-K for the year ended December 31, 2023, were reported - The company states there have been no material changes to the risk factors disclosed in its Annual Report on Form 10-K for the year ended December 31, 2023[164](index=164&type=chunk) [Item 5. Other Information](index=27&type=section&id=Item%205%20-Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the quarter ended March 31, 2024 - No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the first quarter of 2024[165](index=165&type=chunk) [Item 6. Exhibits](index=27&type=section&id=Item%206%20-%20Exhibits) The report includes exhibits such as CEO and CFO certifications under Sarbanes-Oxley Act and Interactive Data Files - Exhibits filed with the report include CEO and CFO certifications under Sections 302 and 906 of the Sarbanes-Oxley Act, as well as Interactive Data Files (XBRL)[166](index=166&type=chunk)

WOODCLIFF LAKE, N.J., May 06, 2024 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ:HDSN) a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry – and one of the nation's largest refrigerant reclaimers – today announced that it has entered into a licensing agreement with The Chemours Company. By the terms of the agreement, Hudson may now sell Hudson reclaimed refrigerants under Freon™ R-11, Freon™ R-12 ...

Financial Performance - For Q1 2024, Hudson Technologies reported revenues of $65.3 million, a decrease of 15% from $77.2 million in Q1 2023[3] - Gross margin for Q1 2024 was 33%, down from 39% in Q1 2023[3] - Operating income decreased to $12.8 million in Q1 2024 from $22.7 million in the prior year[3] - Net income for Q1 2024 was $9.6 million, or $0.21 per basic share, compared to $15.5 million, or $0.34 per basic share in Q1 2023[3] Future Outlook - The company anticipates full-year revenue between $250 million and $265 million, with gross margin expected to be below the targeted 35%[5] - Hudson Technologies aims to benefit from the ongoing HFC phasedown and expects pricing to increase as supply tightens[5] Industry Trends - The industry experienced a 20% decline in pricing for certain refrigerants compared to Q1 2023[4] - The EPA's proposed Refrigerant Management rule is expected to be finalized in late summer, mandating the use of reclaimed refrigerants for certain applications[5] Inventory Management - Current pricing dynamics allow Hudson to replenish inventory with lower-cost refrigerants during the 2024 cooling season[5] Asset Overview - Total assets as of March 31, 2024, were $294.2 million, a slight decrease from $296.7 million at the end of 2023[13]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 1-13412 Hudson Technologies, Inc. (Exact name of registrant as specified in its charter) New York 13-3641 ...

Exhibit 99.1 HUDSON TECHNOLOGIES REPORTS FOURTH QUARTER AND YEAR END 2023 RESULTS WOODCLIFF LAKE, NJ – MARCH 6, 2024 – Hudson Technologies, Inc. (NASDAQ: HDSN) announced results for the fourth quarter and year ended December 31, 2023. For the quarter ended December 31, 2023, Hudson reported revenues of $44.9 million, a decrease of 5% compared to revenues of $47.4 million in the comparable 2022 period. The decrease is primarily related to decreased selling prices for certain refrigerants, offset by slightly ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 | New York | 13-3641539 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 300 Tice Boulevard | | | Suite 290 | | | Woodcliff Lake, New Jersey | 07677 | | (Address of principal executive offices) | (Zip Code) | | Registrant's telephone number, including area code | (845) 735-6000 | OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...

HUDSG TECHNOLOGIES Reclaiming the Future Together. September 2023 ON-SITE REFRIGERANT SERVICE SAFE HARBOR STATEMENT INVESTMENT CONSIDERATIONS 3 | --- | --- | --- | --- | |--------------------------|-------|---------------------------------------------------------------------------------|------------| | First Half 2023 | | | | | | | Revenue: $167.7M Total Debt Reduction: | $14.3M | | Operating Income: $50.3M | | Current Leverage Ratio: | 0.32X to 1 | | Free Cash Flow: $20.4M* | | | | | 2025 Targets | | | | | ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q For the quarterly period ended June 30, 2023 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 1-13412 Hudson Technologies, Inc. (Exact name of registrant as specified in its charter) | New York | 13-3641539 | | --- | --- | ...

Financial Data and Key Metrics Changes - The company recorded revenues of $90.5 million in Q2 2023, a decrease of 13% compared to $103.9 million in Q2 2022, primarily due to decreased selling prices of certain refrigerants [49] - Operating income was $27.7 million in Q2 2023, down from $49.8 million in Q2 2022 [7] - Net income for Q2 2023 was $19.2 million, or $0.42 per basic share, compared to $39.8 million, or $0.89 per basic share, in the same period of 2022 [7] - Gross margin moderated to 40% in Q2 2023, down from 55% in Q1 2022, reflecting a narrowing gap between inventory cost and sales price [20][23] - Cash flow from operations was $10.6 million in Q2 2023, compared to $28.8 million in Q2 2022 [24] Business Line Data and Key Metrics Changes - The company achieved carbon neutrality at its reclamation facilities during the quarter and introduced sustainable products, gaining recognition for its Emerald refrigerants brand [5] - The gross margin was positively impacted by higher margins on carbon sales and DLA, with a long-term gross margin target of approximately 35% [67] Market Data and Key Metrics Changes - The regulatory landscape is evolving, with the EPA mandating a 40% reduction in virgin HFC production and consumption allowances for 2024-2028, which is expected to create opportunities for the company as the supply of virgin HFCs becomes limited [4] - The company anticipates a tightening in inventory and availability of products relative to overall demand due to the significant reduction in calendar allocation for next year [28] Company Strategy and Development Direction - The company is focused on providing sustainable and responsible refrigerant management support, evolving its business model to meet end-to-end customer needs [6] - The strategy emphasizes building relationships with strategic customers rather than competing on price, particularly as the industry transitions to greener alternatives [14][29] Management's Comments on Operating Environment and Future Outlook - Management noted that the cooling season is viewed as a 9-month period, and quarter-to-quarter comparisons may not accurately reflect the full season's performance [19] - The company expects to see price increases due to anticipated tightening in inventory and availability of products as demand grows [28] - Management expressed confidence in the long-term adoption of reclaimed refrigerants driven by both legislation and environmental benefits [68] Other Important Information - The company reduced total outstanding debt by 31% from $46.8 million at the end of 2022 to $32.5 million at the end of Q2 2023, resulting in significant interest savings [8][51] - Stockholders' equity improved to $211 million at June 30, 2023, compared to $175 million at December 31, 2022 [51] Q&A Session Summary Question: What are the reasons for the current pricing levels of HFCs? - Management indicated that pricing reflects the availability of product compared to demand, with a slower start to demand this year impacting pricing [54][76] Question: How does the company view the EPA's authority and future regulations? - Management noted that the EPA has broad authority under the AIM Act, and future proposed rules are expected to promote reclamation growth [60] Question: What is the company's strategy regarding customer relationships? - The company aims to build sustainable relationships with customers who support recovery and reclamation, moving away from those seeking only low prices [32][78]