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HDSN

Hudson Technologies, Inc.

HDSN

Hudson Technologies, Inc. • NASDAQ
$6.80 ▼ -0.73% (-0.05)
Market Cap $296.47 M
52w High $10.52
52w Low $5.11
Dividend Yield 0%
P/E 13.33
Volume 77.85K
Outstanding Shares 43.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $74.012M ▲ $9.706M ▼ $12.374M ▲ 16.719% ▲ $0.28 ▲ $17.152M ▲
Q2-2025 $72.849M ▲ $10.087M ▲ $10.168M ▲ 13.958% ▲ $0.23 ▲ $14.925M ▲
Q1-2025 $55.343M ▲ $8.993M ▼ $2.758M ▲ 4.983% ▲ $0.06 ▲ $4.672M ▲
Q4-2024 $34.643M ▼ $9.02M ▲ $-2.565M ▼ -7.404% ▼ $-0.057 ▼ $-3.751M ▼
Q3-2024 $61.943M $8.969M $7.806M 12.602% $0.17 $6.973M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $89.681M ▲ $338.946M ▲ $73.057M ▲ $265.889M ▲
Q2-2025 $84.293M ▲ $317.853M ▲ $63.074M ▲ $254.779M ▲
Q1-2025 $81.048M ▲ $307.885M ▲ $61.063M ▲ $246.822M ▲
Q4-2024 $70.134M ▲ $302.652M ▼ $56.802M ▲ $245.85M ▼
Q3-2024 $56.487M $309.428M $55.533M $253.895M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $12.374M ▲ $8.812M ▲ $-2.067M ▼ $-1.357M ▲ $5.388M ▲ $6.745M ▲
Q2-2025 $10.168M ▲ $6.413M ▼ $-464K ▲ $-2.704M ▼ $3.245M ▼ $5.949M ▼
Q1-2025 $2.758M ▲ $14.156M ▼ $-1.411M ▲ $-1.831M ▲ $10.914M ▼ $12.745M ▼
Q4-2024 $-2.565M ▼ $20.708M ▼ $-1.548M ▲ $-5.513M ▼ $13.647M ▼ $19.16M ▼
Q3-2024 $7.806M $30.268M $-1.667M $-2.638M $25.963M $28.601M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $170.00M ▲$50.00M ▼$70.00M ▲$70.00M ▲
Refrigerant Side Services
Refrigerant Side Services
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Hudson’s income statement shows a business that became solidly profitable over the last several years, after being barely breakeven earlier in the period. Revenue climbed sharply through 2022, then pulled back in 2023 and 2024, suggesting that 2022 was an unusually strong year and that more recent results reflect a normalization from peak conditions rather than a structural collapse. Even with the step-down, sales and profits remain well above pre‑2021 levels. Margins are still healthy, though not as rich as the peak period, indicating that the company retains good pricing and cost control but is likely facing softer refrigerant pricing and/or volumes. Overall, profitability is positive and recurring, but on a lower plateau than the 2022 high watermark.

Balance Sheet

Balance Sheet The balance sheet has improved meaningfully. Debt has been reduced to relatively low levels compared with earlier years, while equity has steadily grown, reflecting the accumulation of profits. Total assets have expanded, and cash has moved from being very tight to a more comfortable cushion recently. This combination points to a stronger financial foundation, with less reliance on borrowing and more flexibility to handle industry swings or invest in growth. The main watch point is that the business still depends on working capital tied up in inventory and receivables, which can be sensitive to changes in refrigerant demand and pricing.

Cash Flow

Cash Flow Cash generation has been a clear bright spot. Operating cash flow has been consistently positive in recent years and broadly tracks reported earnings, which supports the quality of profits. Free cash flow has also been solid because capital spending needs are modest, freeing up cash for debt reduction and balance sheet strengthening. The company does not appear to be in a heavy investment phase, so cash flows look relatively stable, but future growth initiatives or acquisitions could change this profile.

Competitive Edge

Competitive Edge Hudson occupies a specialized niche in refrigerant reclamation and lifecycle management, where scale, certifications, and regulatory know‑how matter a great deal. It benefits from being one of the larger and more established players, with proprietary equipment, a nationwide service footprint, and rare certifications such as an AHRI‑certified lab and EPA approvals. Tightening environmental rules on refrigerants and the phase‑down of high‑impact gases support demand for its services and reclaimed products. On the other hand, the company operates in a cyclical, regulation‑driven market where policy changes, refrigerant price swings, and competition from producers or other reclaimers can all affect its advantages over time.

Innovation and R&D

Innovation and R&D Innovation at Hudson is centered more on process, equipment, and service design than on traditional lab‑heavy R&D. The company has built proprietary reclamation technology, the ZugiBeast® high‑speed recovery system, and digital monitoring and diagnostics platforms like SmartEnergy OPS® and Chiller Chemistry®. These tools let Hudson offer a full refrigerant lifecycle solution, not just commodity product sales. Future innovation focus appears to be on handling newer, lower‑impact refrigerants, improving energy‑efficiency analytics, and expanding service offerings, including through targeted acquisitions. The main question is how quickly and effectively Hudson can adapt its technology and services as refrigerant chemistries and regulations continue to evolve.

Summary

Hudson Technologies has transitioned from a marginally profitable operator into a consistently profitable, cash‑generative specialist with a cleaner balance sheet. Results peaked in 2022 and have since stepped down, but earnings remain solid relative to earlier years, suggesting a move from boom conditions toward a more normalized environment rather than a return to past weakness. Financial risk has been reduced through debt paydown and cash buildup. Strategically, the company is well‑positioned in a regulation‑supported, sustainability‑driven niche, backed by proprietary technology and long‑standing customer relationships. Key uncertainties include sensitivity to refrigerant pricing cycles, regulatory shifts, and the need to keep pace with the industry’s transition to new, lower‑impact refrigerant technologies.

NEWS

November 17, 2025 · 4:25 PM UTC

Hudson Pacific Properties Announces Reverse Stock Split

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November 13, 2025 · 4:05 PM UTC

Hudson Technologies Appoints Kenneth Gaglione as Chairman of the Board, President and Chief Executive Officer

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November 13, 2025 · 9:41 AM UTC

Toll Brothers Announces Final Opportunity to Own a Luxury Home at Lakemont by Toll Brothers in Hudson, Massachusetts

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November 5, 2025 · 9:00 AM UTC

Hudson Pacific Properties Reports Third Quarter 2025 Financial Results

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October 30, 2025 · 4:05 PM UTC

Alkami Appoints Cassandra Hudson as Chief Financial Officer

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