Fuel Tech

Q3 FY2026 EarningsFTEK Q3 FY26 results were mixed relative to consensus: revenue of $8.7M beat the $7.7M estimate (+13%), while gross margin of 45.0% slightly missed the 45.7% expectation (-0.70pct). Despite the top-line beat driven by a 38% YoY surge in Air Pollution Control (APC), the net loss of $(0.27M) was wider than the anticipated $(0.16M), impacted by CEO transition costs and higher R&D. Management highlighted a strong APC backlog of $16.6M, suggesting continued momentum in power infrastructure and AI-related demand.