Financial Performance - Consolidated revenues for full year 2024 were 27.1 million in 2023, primarily due to lower APC revenues[11] - Q4 2024 consolidated revenues declined to 6.3 million in Q4 2023, reflecting lower APC segment revenues[6] - Net loss for 2024 was (0.06) per share, compared to a net loss of (0.05) per share, in 2023[13] - Total revenues for the year ended December 31, 2024, were 27,081,000 in 2023[30] - Revenues from external customers in the United States for 2024 were 21,397,000 in 2023, a decrease of 16.5%[33] - The company reported a comprehensive loss of 1,558,000 in 2023, an increase of 35.4%[26] - Operating income (loss) from continuing operations for the year ended December 31, 2024, was (2,658,000) in 2023, indicating a worsening of 76.7%[30] Margins and Expenses - Consolidated gross margin for 2024 was 42.3%, slightly down from 43.0% in 2023[11] - SG&A expenses for 2024 increased to 12.8 million, or 47.3% of revenues, in 2023[12] - Gross margin for the year ended December 31, 2024, was 11,656,000 in 2023, indicating a decline of 8.9%[30] - FUEL CHEM segment revenue remained steady at 1.8 million in Q4 2024 from 30 million in cash and investments and no long-term debt as of year-end 2024[3] - Cash and cash equivalents at the end of the period decreased to 17,578,000 in 2023, a decline of 51.6%[28] - The company incurred 14,026,000 in 2023, an increase of 28.8%[28] Future Outlook - The company expects to sign new contracts valued between 5 million in early Q2 2025[4] - The company is pursuing growth in its DGI technology, with hopes to generate first commercial revenues in 2025[5] - Adjusted EBITDA for the year ended December 31, 2024, was (2,017,000) in 2023, reflecting a deterioration of 9.6%[34] Assets - Total assets as of December 31, 2024, were 50,388,000 in 2023, reflecting a decline of 3.2%[33]
Fuel Tech(FTEK) - 2024 Q4 - Annual Results