OPAL Fuels Inc.
For the period ended Mar 31, 2026. Filed May 11, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 11, 2026
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Condensed Consolidated Statements of Operations for the months ended
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands of U.S. dollars, except share and per share data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Revenues: | ||
| RNG fuel(1) | $21,638 | $27,599 |
| Fuel station services(2) | 44,566 | 50,678 |
| Renewable power(3) | 7,171 | 7,130 |
| Total revenues | 73,375 | 85,407 |
| Operating expenses: | ||
| Cost of sales - RNG fuel | 12,829 | 12,153 |
| Cost of sales - Fuel station services | 35,390 | 39,722 |
| Cost of sales - Renewable power | 5,630 | 6,762 |
| Project development and startup costs | 1,815 | 6,081 |
| Selling, general and administrative | 15,184 | 15,967 |
| Depreciation, amortization, and accretion | 5,613 | 5,942 |
| Loss from equity method investments | 1,757 | 722 |
| Total operating expenses | 78,218 | 87,349 |
| Operating loss | (4,843) | (1,942) |
| Other expense | ||
| Interest and financing expense | (6,644) | (6,450) |
| Interest income | 760 | 385 |
| Other (expense) income, net | (575) | 1,254 |
| Total other expenses | (6,459) | (4,811) |
| Net loss before income tax benefit | (11,302) | (6,753) |
| Income tax benefit | 5,709 | 8,037 |
| Net (loss) income | (5,593) | 1,284 |
| Net loss attributable to redeemable non-controlling interest | (12,567) | (1,174) |
| Net income attributable to non-redeemable non-controlling interest | 82 | 76 |
| Accretion of the redeemable preferred non-controlling interest to its redemption amount | 9,534 | 2,617 |
| Net loss attributable to Class A common stockholders | $(2,642) | $(235) |
| Weighted average shares outstanding of Class A common stock: | ||
| Basic | 28,298,861 | 27,718,912 |
| Diluted | 28,298,861 | 27,718,912 |
| Per share amounts: | ||
| Basic | $(0.09) | $(0.01) |
| Diluted | $(0.09) | $(0.01) |
(1)Includes revenues from related parties of $17,042 and $20,101 for the three months ended March 31, 2026 and 2025, respectively.
(2) Includes revenues from related parties of $13,107 and $16,603 for the three months ended March 31, 2026 and 2025, respectively.
(3) Includes revenues from related parties of $872 and $1,166 for the three months ended March 31, 2026 and 2025, respectively.
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