OPAL Fuels Inc.OPALEarnings & Financial Report
OPAL Fuels Inc. is a North American energy company focused on producing and distributing low-carbon renewable natural gas (RNG). It captures methane from landfills, dairy operations and other organic waste streams to produce RNG, which is mainly supplied to heavy-duty transportation fleets, commercial logistics operators and public transport entities to help reduce their greenhouse gas emissions.
Revenue
$82.6M
Gross Profit
N/A
Operating Profit
$12.3M
Net Profit
$17.1M
Gross Margin
N/A
Operating Margin
14.9%
Net Margin
20.7%
YoY Growth
18.1%
EPS
$0.09
OPAL Fuels Inc. Q3 FY2024 Financial Summary
OPAL Fuels Inc. reported revenue of $82.6M (up 18.1% YoY) for Q3 FY2024, with a net profit of $17.1M (up 7436.1% YoY) (20.7% margin).
Key Financial Metrics
| Total Revenue | $82.6M |
|---|---|
| Net Profit | $17.1M |
| Gross Margin | N/A |
| Operating Margin | 14.9% |
| Report Period | Q3 FY2024 |
Revenue Breakdown
OPAL Fuels Inc. Q3 FY2024 revenue of $82.6M breaks down across 6 segments, led by Fuel Station Services Segment at $45.4M (54.9% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Fuel Station Services Segment | $45.4M | 54.9% |
| Renewable Power Segment | $12.8M | 15.5% |
| Third Party Construction | $10.4M | 12.5% |
| Brown Gas | $8.0M | 9.7% |
| Services | $5.7M | 6.9% |
| Fuel Provider Agreements FP As | $1.2M | 1.4% |
OPAL Fuels Inc. Revenue by Segment — Quarterly Trend
OPAL Fuels Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Fuel Station Services Segment and Renewable Power Segment) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Fuel Station Services Segment | $65.1M | — | — | — |
| Renewable Power Segment | $8.6M | $8.7M | — | $7.1M |
| Third Party Construction | — | $14.2M | $9.2M | — |
| Brown Gas | — | $8.2M | $10.6M | — |
| Services | — | $6.9M | — | — |
OPAL Fuels Inc. Annual Revenue by Year
OPAL Fuels Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $326.7M).
| Year | Annual Revenue |
|---|---|
| 2025 | $326.7M |
| 2024 | $290.9M |
| 2023 | $251.1M |
| 2022 | $230.7M |
OPAL Fuels Inc. Quarterly Revenue & Net Profit History
OPAL Fuels Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $88.4M | +18.7% | $16.2M | 18.3% |
| Q3 FY2025 | $77.9M | -5.7% | $11.4M | 14.6% |
| Q2 FY2025 | $77.4M | +10.9% | $7.6M | 9.8% |
| Q1 FY2025 | $83.0M | +29.7% | $1.3M | 1.5% |
| Q4 FY2024 | $74.5M | -12.4% | $-5.4M | -7.2% |
| Q3 FY2024 | $82.6M | +18.1% | $17.1M | 20.7% |
| Q2 FY2024 | $69.8M | +28.9% | $1.9M | 2.7% |
| Q1 FY2024 | $64.0M | +52.1% | $677.0K | 1.1% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $64.0M | $69.8M | $82.6M | $74.5M | $83.0M | $77.4M | $77.9M | $88.4M |
| YoY Growth | 52.1% | 28.9% | 18.1% | -12.4% | 29.7% | 10.9% | -5.7% | 18.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $750.5M | $782.3M | $831.1M | $881.1M | $884.9M | $905.5M | $916.7M | $959.5M |
| Liabilities | $297.0M | $327.8M | $361.2M | $416.0M | $420.5M | $432.3M | $434.0M | $461.7M |
| Equity | $-382.4M | $-273.0M | $-180.1M | $-148.4M | $57.1M | $-25.0M | $7.5M | $-12.9M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $13.7M | $533000 | $17.7M | $-532000 | $29.7M | $-7.9M | $18.2M | $-3.5M |