OPAL Fuels Inc. (OPAL) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	339.1M	349.0M	300.0M	256.1M	235.5M
Cost of Revenue	245.1M	242.8M	199.9M	183.9M	162.8M
Gross Profit	94.1M	106.2M	100.1M	72.2M	72.7M
Operating Expenses
R&D Expense	—	—	—	4.9M	6.4M
SG&A Expense	60.0M	64.0M	53.1M	51.3M	51.4M
General & Admin Expense	—	—	—	—	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	27.4M	37.4M	37.0M	14.6M	13.1M
Total Operating Expenses	87.4M	101.4M	90.1M	70.7M	71.0M
Cost and Expenses	332.4M	344.2M	290.0M	254.6M	233.8M
Operating Income (EBIT)	6.7M	4.8M	10.0M	1.5M	1.8M
Non-Operating
Interest Income	3.5M	1.2M	1.9M	2.9M	—
Interest Expense	29.7M	27.5M	21.5M	10.7M	6.6M
Net Interest Income	(26.3M)	(26.3M)	(19.6M)	(7.7M)	(6.6M)
Other Non-Op Income/Expense	(30.3M)	(21.1M)	(4.6M)	125.5M	30.8M
Non-Operating Income (excl Interest)	(2.4M)	(6.4M)	(16.9M)	(134.5M)	(37.7M)
EBT (Pre-Tax Income)	(23.6M)	(16.3M)	5.4M	127.0M	32.6M
Income Tax Expense	(41.5M)	(52.7M)	(8.9M)	—	—
Bottom Line
Net Income	18.7M	14.8M	11.0M	29.9M	11.3M
Earnings from Cont. Ops	17.8M	36.4M	14.3M	127.0M	32.6M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(425.0K)	4.3M	561.0K	18.9M	3.4M
Per Share
Basic EPS	($0.01)	$0.15	$0.02	$0.70	$0.13
Diluted EPS	($0.02)	$0.15	$0.02	$0.69	$0.13
Revenue Per Share	$11.44	$12.40	$10.86	$9.43	$9.14
Shares
Basic Shares Outstanding	29.6M	28.1M	27.6M	27.1M	25.8M
Diluted Shares Outstanding	29.6M	29.3M	27.7M	27.5M	26.1M
Profitability Metrics
EBITDA	32.1M	34.4M	45.5M	150.7M	53.3M
D&A	23.0M	23.2M	18.6M	14.7M	13.8M
EBIT	9.0M	11.2M	26.9M	136.1M	39.5M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026