Flagship explainer

How FUEL TECH, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$26.7M · 100%Cost of revenue$14.3M · 54%Gross profit$12.4M · 46%Operating income−$3.7M · −14%Income before tax−$2.3M · −9%Income tax$15000 · 0%Net income−$2.3M · −9%As of 2025-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$26.7M100%
Cost of revenue$14.3M54%
$12.4M46%
−$3.7M−14%
Income before tax−$2.3M−9%
Income tax$150000%
−$2.3M−9%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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