OPAL Fuels Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	348.98	299.97	256.11	235.53	166.12
Revenue Growth (YoY)	16.34%	17.13%	8.74%	41.78%	41.13%
Cost of Revenue	242.79	199.85	183.9	162.79	115.07
Gross Profit	106.18	100.12	72.21	72.74	51.06
Selling, General & Admin	63.98	53.12	51.26	51.39	29.38
Depreciation & Amortization Expenses	22.47	17.89	14.57	13.14	10.65
Other Operating Expenses	12.32	7.89	-0.66	0.65	-
Total Operating Expenses	98.77	78.9	65.17	65.18	40.03
Operating Income	7.41	21.22	7.04	7.56	11.03
Interest Income	1.25	1.92	-	-	-
Interest Expense	-27.52	-21.53	-9.31	-6.64	-7.47
Other Non-Operating Income (Expense)	2.53	3.81	129.29	31.66	37.21
Total Non-Operating Income (Expense)	-23.75	-15.8	119.98	25.02	29.74
Pretax Income	-16.34	5.42	127.02	32.58	40.77
Provision for Income Taxes	-52.75	-8.91	-	-	-
Net Income	4.28	0.56	18.94	3.39	0
Minority Interest in Earnings	21.66	3.29	97.08	21.26	40.56
Net Income Attributable to Preferred Dividends	10.47	10.47	11.01	7.93	0.21
Net Income to Common	4.28	0.56	18.94	3.39	0
Net Income Growth	663.46%	-97.04%	458.42%	-	-
Shares Outstanding (Basic)	28	28	27	26	0
Shares Outstanding (Diluted)	29	28	27	26	0
Shares Change (YoY)	5.62%	0.73%	5.49%	2640467.38%	0.10%
EPS (Basic)	0.15	0.02	0.70	0.13	41908.00
EPS (Diluted)	0.15	0.02	0.69	0.12	41908.00
EPS Growth	650.00%	-97.10%	475.00%	-100.00%	-
Shares Outstanding	29	28.43	28.07	29.48	31.12
Free Cash Flow	-34.24	-95.85	-75.56	-132.77	-70.79
Free Cash Flow Per Share	-1.17	-3.46	-2.75	-5.09	-71722.40
Gross Margin	30.43%	33.38%	28.19%	30.88%	30.74%
Operating Margin	2.12%	7.07%	2.75%	3.21%	6.64%
Profit Margin	10.43%	4.78%	49.60%	13.83%	24.54%
FCF Margin	-9.81%	-31.95%	-29.50%	-56.37%	-42.61%
EBITDA	29.88	39.11	22.25	21.47	21.68
EBITDA Margin	8.56%	13.04%	8.69%	9.12%	13.05%
EBIT	7.41	21.22	7.04	7.56	11.03
EBIT Margin	2.12%	7.07%	2.75%	3.21%	6.64%
Effective Tax Rate	322.90%	-164.35%	0.00%	0.00%	0.00%

Updated Mar 16, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q