- Revenues rose to 7.6% to $24.3 million in 2021, and the company is close to breakeven thanks to lower SG&A expenses.
- I think that Fuel Tech’s Dissolved Gas Infusion technology could become a significant contributor to revenues in a year or two.
- The company closed December 2021 with $35.9 million in cash and cash equivalents, which means that its enterprise value is below $6 million.
- I view Fuel Tech as a speculative buy as the business still isn’t profitable, and 67% of net revenues in 2021 were attributable to only 5 customers.
For further details see:
Revisiting Fuel Tech - Financials Have Improved And EV Is Approaching Zero And I'm Now Bullish