OPAL Fuels Inc.
For the period ended Jun 30, 2026. Filed Aug 10, 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.
Jun 30, 2026 · Filed Aug 10, 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 June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenues: | ||||
| RNG fuel(1) | $23,821 | $25,130 | $45,459 | $52,729 |
| Fuel station services(2) | 53,064 | 47,026 | 97,630 | 97,704 |
| Renewable power(3) | 6,514 | 8,300 | 13,685 | 15,430 |
| Total revenues | 83,399 | 80,456 | 156,774 | 165,863 |
| Operating expenses: | ||||
| Cost of sales - RNG fuel | 12,282 | 11,414 | 25,111 | 23,567 |
| Cost of sales - Fuel station services | 40,362 | 38,731 | 75,752 | 78,453 |
| Cost of sales - Renewable power | 6,285 | 6,899 | 11,915 | 13,661 |
| Project development and startup costs | 3,301 | 3,477 | 5,116 | 9,558 |
| Selling, general and administrative | 14,274 | 17,460 | 29,458 | 33,427 |
| Depreciation, amortization, and accretion | 5,167 | 5,264 | 10,780 | 11,206 |
| Impairment loss | 4,142 | — | 4,142 | — |
| Loss (income) from equity method investments | 597 | (1,962) | 2,354 | (1,240) |
| Total operating expenses | 86,410 | 81,283 | 164,628 | 168,632 |
| Operating loss | (3,011) | (827) | (7,854) | (2,769) |
| Other expense | ||||
| Interest and financing expense | (8,647) | (6,637) | (15,291) | (13,087) |
| Interest income | 2,101 | 270 | 2,861 | 655 |
| Other income, net | 672 | 1,067 | 97 | 2,321 |
| Total other expenses | (5,874) | (5,300) | (12,333) | (10,111) |
| Net loss before income tax benefit | (8,885) | (6,127) | (20,187) | (12,880) |
| Income tax benefit | 4,738 | 13,686 | 10,447 | 21,723 |
| Net (loss) income | (4,147) | 7,559 | (9,740) | 8,843 |
| Net (loss) income attributable to redeemable non-controlling interest | (7,136) | 3,982 | (19,703) | 2,808 |
| Net income attributable to non-redeemable non-controlling interest | 137 | 160 | 219 | 236 |
| Accretion of the redeemable preferred non-controlling interest to its redemption amount | 4,353 | 2,617 | 13,887 | 5,234 |
| Net (loss) income attributable to Class A common stockholders | $(1,501) | $800 | $(4,143) | $565 |
| Weighted average shares outstanding of Class A common stock: | ||||
| Basic | 29,641,216 | 28,265,710 | 28,966,490 | 27,995,258 |
| Diluted | 29,641,216 | 29,229,245 | 28,966,490 | 28,688,505 |
| Per share amounts: | ||||
| Basic | $(0.05) | $0.03 | $(0.14) | $0.02 |
| Diluted | $(0.05) | $0.03 | $(0.14) | $0.02 |
(1)Includes revenues from related parties of $125 and $17,878 for the three months ended June 30, 2026 and 2025, respectively.
Includes revenues from related parties of $17,167 and $37,979 for the six months ended June 30, 2026 and 2025, respectively.
(2) Includes revenues from related parties of $3,251 and $12,826 for the three months ended June 30, 2026 and 2025, respectively.
Includes revenues from related parties of $16,358 and $29,429 for the six months ended June 30, 2026 and 2025, respectively.
(3) Includes revenues from related parties of $0 and $1,488 for the three months ended June 30, 2026 and 2025, respectively.
Includes revenues from related parties of $872 and $2,654 for the six months ended June 30, 2026 and 2025, respectively.
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