Core Viewpoint - Fuel Tech, Inc. reported financial results for Q4 and full year 2024, indicating challenges in revenue generation primarily due to delayed project execution and lower performance in the Air Pollution Control (APC) segment, while the FUEL CHEM segment showed resilience and potential for growth in 2025 [2][3][9]. Financial Performance - Consolidated revenues for Q4 2024 were 6.3 million in Q4 2023, mainly due to lower APC segment revenues [5]. - For the full year 2024, consolidated revenues decreased to 27.1 million in 2023, driven by lower APC revenues but partially offset by an increase in FUEL CHEM revenues [9][10]. - The net loss for Q4 2024 was (0.06) per share, compared to a net loss of (0.02) per share, in Q4 2023 [6][10]. - The company ended 2024 with approximately 1.8 million, down from 3.5 million, with a gross margin decline to 45.5% from 48.0% in Q4 2023 [8]. - The consolidated gross margin for Q4 2024 was 42.3%, down from 51.1% in Q4 2023, reflecting decreases in both APC and FUEL CHEM gross margins [5]. Future Outlook - The company anticipates improved performance in the FUEL CHEM segment in 2025, driven by normalized chemical program utilization and new commercial programs [3]. - Fuel Tech is pursuing new opportunities in emissions control solutions for data centers and municipal waste combustion units, driven by regulatory requirements [4][3]. - The company plans to showcase its Dissolved Gas Infusion (DGI) technology at Aquaculture 2025, with hopes of generating commercial revenues in 2025 [4]. Geographic Performance - For the year ended December 31, 2024, revenues from the United States were 21.4 million in 2023, while foreign revenues increased to 5.7 million [33].
Fuel Tech Reports 2024 Fourth Quarter and Full Year Financial Results