OPAL Fuels Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $349.0M | $300.0M | $256.1M | $235.5M | $166.1M |
| Selling, general & administrative | $64.0M | $53.1M | $51.3M | $51.4M | $29.4M |
| Research and development | $14.9M | $19.1M | $4.9M | $6.4M | — |
| Operating income | $7.4M | $21.2M | $7.0M | $7.6M | $11.0M |
| Interest expense | $27.5M | $21.5M | — | $6.6M | $7.5M |
| Pretax income | -$16.3M | $5.4M | $5.5M | $32.6M | $40.8M |
| Income tax expense | -$52.7M | -$8.9M | $0 | $0 | $0 |
| Net income | $36.4M | $14.3M | $127.0M | $32.6M | -$16.2M |
| Balance Sheet | |||||
| Cash and equivalents | $24.4M | $24.3M | $38.3M | $40.4M | $39.3M |
| Current assets | $122.7M | $116.8M | $128.1M | $212.0M | $87.0M |
| Total assets | $959.5M | $881.1M | $754.6M | $644.9M | $380.8M |
| Current liabilities | $104.2M | $103.6M | $74.3M | $152.9M | $142.1M |
| Total liabilities | $461.7M | $416.0M | $297.1M | $267.0M | $285.9M |
| Stockholders' equity | -$12.9M | -$148.4M | -$478.8M | -$800.6M | $14,000 |
| Cash Flow Statement | |||||
| Cash from operations | $36.5M | $31.4M | $38.3M | -$1.4M | $18.9M |
| Depreciation and amortization | $22.5M | $17.9M | $14.6M | $13.1M | $10.7M |
| Stock-based compensation | $6.5M | $6.5M | $5.9M | $1.5M | $639,000 |
| Capital expenditure | $70.7M | $127.2M | $113.8M | $131.4M | $89.6M |
| Free cash flow | -$34.2M | -$95.9M | -$75.6M | -$132.8M | -$70.8M |
| Impairments | $0 | $2.0M | $0 | — | — |
Shares outstanding 174.8M
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.