Hudson Technologies, Inc. (HDSN) SEC Filings & Earnings Calls
EquiReason read 24 Hudson Technologies, Inc. SEC filings in the last 12 months. Latest: 10-Q on 2026-08-07 — Company re-awarded the DLA contract after a bid protest and re-bid process, securing a long-term revenue stream through 2031 with an option to 2036..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
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- 25.6
- Dividend yield
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Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
7 Aug 202610-QCompany re-awarded the DLA contract after a bid protest and re-bid process, securing a long-term revenue stream through 2031 with an option to 2036.open
Figures in the filing · each found in the filing text
| Revenue · Q2-2026 | $78M | +8% y/y |
| Revenue · H1-2026 | $139M | +8% y/y |
| Gross Profit · Q2-2026 | $21M | -9% y/y |
| Gross Margin · Q2-2026 | 26.0% | |
| Gross Profit · H1-2026 | $33M | -7% y/y |
| Gross Margin · H1-2026 | 23.0% | |
| Net Income · Q2-2026 | $5M | -52% y/y |
| Net Income · H1-2026 | $5M | -59% y/y |
| Inventories · 2026-06-30 | $128M | -6% y/y |
| Cash and Cash Equivalents · 2026-06-30 | $26M | -35% y/y |
Risks flagged
Customer Concentration
“For the six-month periods ended June 30, 2026 and 2025, the United States Defense Logistics Agency (the "DLA") accounted for greater than 10% of the Company's revenue and 9% and 23% of the outstanding accounts receivable at June 30, 2026 and December 31, 2025.” · word for word
Gross Margin Pressure
“The decrease of gross profit and the decline in gross margin were primarily due to lower average sales price of refrigerants sold during the period and higher freight costs.” · word for word
Regulatory Uncertainty
“the EPA has finalized the Technology Transition ("TT") Rule in 2023, but the Trump administration decided to reconsider the TT rule by issuing a proposed new TT rule in 2025 with a final TT rule expected in third quarter of 2026.” · word for word
6 Aug 20268-K · 8.01Hudson Technologies awarded a new prime contract with the U.S. Defense Logistics Agency, retaining business since 2016 after a rebidding process and bid protest.open
Risks flagged
Dependence on government contracts; rebid risk mitigated by retention.
“Contract retained after rebidding process following bid protest.”
5 Aug 20268-K · 2.02Revenue $78M (+8% y/y); Gross Margin 26; Net Income $5M (-52% y/y); Guidance: Gross margin target lowered from mid-twenty percent to low-to-mid-twenty percentearningsopen
Figures in the filing · each found in the filing text
| Revenue · Q2-2026 | $78M | +8% y/y |
| Gross Margin · Q2-2026 | 26.0% | |
| Net Income · Q2-2026 | $5M | -52% y/y |
| Diluted EPS · Q2-2026 | $0.12 | -48% y/y |
| Sales Volume Growth · Q2-2026 | 12.0% | |
| Pricing Change · Q2-2026 | -6.0% | |
| Cash and Cash Equivalents · Q2-2026 | $26M |
Guidance
Gross margin target lowered from mid-twenty percent to low-to-mid-twenty percent
Full-year gross margin guidance cut due to pricing and inflation headwinds, but volume growth strong
Risks flagged
Margin pressure from lower refrigerant pricing and inflationary costs
“Gross margin declined to 26% from 31% due to 6% lower pricing and increased fuel costs”
Dependence on insurance recovery for tornado disruption
“All costs to restore the facility and related business interruption are expected to be covered through insurance.” · word for word
12 Jun 20268-K · 8.01Disclosed a material event under other events (litigation, recall, contract loss, or major announcement)open
Risks flagged
Weather-related operational disruption at key facility; potential revenue loss and recovery costs.
“primary refrigerant reclamation facility... damaged... extensive roof, structural and water damage... potential disruptions to operations”
18 May 20268-K · 7.01Board and senior management purchased company common stock in open market; no formal buyback program announced but insider purchases signal confidence.open
Risks flagged
Refrigerant price volatility and seasonality remain risks; diversification efforts are early stage.
“reduce seasonality and diversify our earnings profile reducing the impact of short-term refrigerant price volatility” · word for word
11 May 202610-QRevenue $60M (+9% y/y); Gross Profit $12M (-2% y/y); Gross Margin 20open
Figures in the filing · each found in the filing text
| Revenue · Q1-2026 | $60M | +9% y/y |
| Gross Profit · Q1-2026 | $12M | -3% y/y |
| Gross Margin · Q1-2026 | 20.0% | |
| Net Income · Q1-2026 | $300000.00 | -89% y/y |
| Inventories · 2026-03-31 | $131M | |
| Operating Cash Flow · Q1-2026 | $-13M | |
| Free Cash Flow · Q1-2026 | $-14M | |
| DLA Revenue · Q1-2026 | $8M | -18% y/y |
| Buyback · Q1-2026 | $3M |
Risks flagged
DLA Contract Uncertainty
“In response, the DLA is reviewing its evaluation to determine whether corrective action is necessary and has rescinded the 2025 DLA Contract award during this process.” · word for word
Customer Concentration
“For the three-month periods ended March 31, 2026 and 2025, the United States Defense Logistics Agency (the 'DLA') accounted for greater than 10% of the Company’s revenue.” · word for word
Seasonality and Weather
“The Company’s business is seasonal in nature with peak sales of refrigerants occurring in the first nine months of each year. During past years, the seasonal decrease in sales of refrigerants has resulted in losses particularly in the fourth quarter of the year.” · word for word
6 May 20268-K · 2.02Hudson Technologies reports Q1 2026 revenue of $60.2M (+9% YoY), gross margin 20% (down from 22%), net income $0.3M vs $2.8M prior year. Guides Q2 2026 revenue $73-76M. HFC prices firming above $6/lb.earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q1-2026 | $60M | +9% y/y |
| Gross margin · Q1-2026 | 20.0% | |
| Net income · Q1-2026 | $300000.00 | -89% y/y |
| Cash and cash equivalents · 2026-03-31 | $19M | |
| Share repurchases · Q1-2026 | $3M |
Guidance
Q2 2026 revenue $73-76M
Q2 revenue guidance $73-76M implies sequential growth from Q1 $60.2M; expects gross margin improvement.
Risks flagged
ERP implementation inefficiencies may impact operations.
“experienced some typical implementation inefficiencies and headwinds” · word for word
Gross margin decline due to product mix; reliance on seasonal selling season.
“Gross margin decreased slightly to 20% compared to 22% primarily due to the mix of refrigerants sold”
24 Apr 2026DEF 14AFormer CEO Brian Coleman terminated without cause in November 2025; new CEO Kenneth Gaglione hired with $695k salary and $695k option grant; net income and EBITDA declined significantly in 2025.open
Figures in the filing · each found in the filing text
| Net Income · FY2025 | $17M | -32% y/y |
| EBITDA · FY2025 | $26M | -31% y/y |
| Total Shareholder Return · FY2025 | $698.98 | +26% y/y |
| Peer Group Total Shareholder Return · FY2025 | $149.87 | +12% y/y |
| Bonus Pool Earned · FY2025 | $496345.00 | |
| CEO Total Compensation · FY2025 | $748462.00 | |
| Former CEO Total Compensation · FY2025 | $2M | +48% y/y |
| Median Employee Compensation · FY2025 | $54594.00 | |
| CEO Pay Ratio · FY2025 | $25.00 | |
| Insider Ownership Percentage · 2026-04-16 | 1.9% |
Risks flagged
CEO succession risk
“Mr. Coleman's employment with Hudson terminated without Cause on November 3, 2025.” · word for word
Key person dependency on new CEO
“Mr. Gaglione rejoined the Company on November 24, 2025. He previously served as Vice President — Operations through December 14, 2023.” · word for word
Declining profitability
“Net Income: 2024 $24,388,000, 2025 $16,667,000; EBITDA: 2024 $36,938,000, 2025 $25,651,000”
Low insider ownership
“All directors and executive officers as a group (Nine Persons) ... 1.9 %” · word for word
Hartree Partners activist stake
“Hartree Partners, LP ... 3,800,000 ... 9.0 % ... Schedule 13D filed by Hartree Partners, LP on December 10, 2025.”
18 Mar 20268-K · 5.02, 8.01Reported the departure of a director or principal officer (CEO/CFO change); disclosed a material event under other events (litigation, recall, contract loss, or major announcement)open
Risks flagged
Key executive departure could impact sales and marketing strategy; management reorganization may signal internal challenges.
“Resignation of SVP Sales & Marketing and Board member; management organization changes announced.”
16 Mar 202610-KRevenue $247M (+4% y/y); Gross Profit $62M (-6% y/y); Gross Margin 25.2open
Figures in the filing · each found in the filing text
| Revenue · FY2025 | $247M | +4% y/y |
| Gross Profit · FY2025 | $62M | -6% y/y |
| Gross Margin · FY2025 | 25.2% | |
| Net Income · FY2025 | $17M | -32% y/y |
| Inventories · 2025-12-31 | $136M | +41% y/y |
| Operating Cash Flow · FY2025 | $-3M | |
| DLA Revenue · FY2025 | $38M | +8% y/y |
| Share Repurchases · FY2025 | $20M | +147% y/y |
Risks flagged
DLA Contract Loss
“Following issuance of the new contract, a competitor filed a bid protest at the U.S. Court of Federal Claims, challenging the DLA’s evaluation of proposals and the contract award to the Company.” · word for word
Commodity Price Volatility
“Our revenues, results of operations and cash flows are affected by market prices for refrigerant gases.” · word for word
Regulatory Phase-Down Supply Risk
“Sufficient amounts of new and/or used refrigerants may not be available to us in the future, particularly as a result of the further phase down of HFC production, or may not be available on commercially reasonable terms.” · word for word
Customer Concentration
“For the years ended December 31, 2025, 2024 and 2023, the DLA accounted for 15%, 15% and 18% of our revenues.” · word for word
4 Mar 20268-K · 2.02Revenue $44M (+28% y/y); Gross margin 8; Operating loss $-11Mearningsopen
Figures in the filing · each found in the filing text
| Revenue · Q4-2025 | $44M | +28% y/y |
| Gross margin · Q4-2025 | 8.0% | |
| Operating loss · Q4-2025 | $-11M | |
| Net loss · Q4-2025 | $-9M | |
| Revenue (full year) · FY2025 | $247M | +4% y/y |
| Gross margin (full year) · FY2025 | 25.2% | |
| Operating income (full year) · FY2025 | $19M | |
| Net income (full year) · FY2025 | $17M | |
| Cash and cash equivalents · FY2025 | $40M | |
| Refrigerant sales volume growth · FY2025 | 6.0% |
Risks flagged
ERP system implementation may negatively impact Q1 2026 revenues due to startup inefficiencies.
“the Company went live with a new ERP system... has experienced some startup inefficiencies that it expects will negatively impact first quarter 2026 revenues.” · word for word
Gross margin compression due to inventory costs and lower refrigerant pricing.
“Gross margin of 8.0% compared to 16.7% in the fourth quarter of 2024. The 2025 gross margin included $4.2 million of inventory related costs” · word for word
Executive severance costs of $4.0 million in Q4 2025.
“SG&A in the fourth quarter of 2025 included $4.0 million of executive severance costs.” · word for word
30 Jan 20268-K · 8.01Disclosed a material event under other events (litigation, recall, contract loss, or major announcement); filed financial statements and exhibits with this reportopen
Risks flagged
Contract dependency risk; no financial details disclosed.
“No revenue or margin impact quantified in filing.”
17 Dec 20258-K · 8.01Disclosed a material event under other events (litigation, recall, contract loss, or major announcement); filed financial statements and exhibits with this reportopen
Risks flagged
Integration risk from bolt-on acquisition; no financial terms disclosed.
“No financial details provided in the filing.”
9 Dec 20258-K · 5.02Reported a director or officer change (departure, election, appointment or pay arrangement)open
Risks flagged
Potential loss of board expertise or governance instability, though no disagreement noted.
“Director resignation effective immediately; no reason provided beyond no disagreement.”
7 Nov 202510-QQ3 2025 revenue increased 20% YoY to $74.0M, gross margin expanded to 32%, net income up 59% to $12.4M.earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q3-2025 | $74M | +20% y/y |
| Gross Profit · Q3-2025 | $24M | +49% y/y |
| Gross Margin · Q3-2025 | 32.0% | |
| Net Income · Q3-2025 | $12M | +59% y/y |
| Cash and Cash Equivalents · 2025-09-30 | $90M | |
| Inventories · 2025-09-30 | $97M | |
| Trade Receivables · 2025-09-30 | $25M | |
| Operating Cash Flow · 9M-2025 | $29M | -59% y/y |
| Share Repurchases · 9M-2025 | $6M |
Risks flagged
Customer Concentration
“For the nine-month periods ended September 30, 2025 and 2024, the United States Defense Logistics Agency (the “DLA”) accounted for greater than 10% of the Company’s revenue and over 10% of the outstanding accounts receivable at September 30, 2025 and September 30, 2024.” · word for word
Regulatory Phase-Down of Virgin Refrigerants
“Under the Clean Air Act the phase-down of future production of certain virgin HCFC refrigerants commenced in 2010 and has been fully phased out by the year 2020, and production of all virgin HCFC refrigerants is scheduled to be phased out by the year 2030.” · word for word
Seasonality and Weather Dependence
“The Company’s business is seasonal in nature with peak sales of refrigerants occurring in the first nine months of each year. During past years, the seasonal decrease in sales of refrigerants has resulted in losses particularly in the fourth quarter of the year.” · word for word
5 Nov 20258-K · 2.02Revenue $74M (+20% y/y); Gross Margin 32; Net Income $12M (+59% y/y); Guidance: Maintaining expectation of mid-twenty percent gross margin for full yearearningsopen
Figures in the filing · each found in the filing text
| Revenue · Q3-2025 | $74M | +20% y/y |
| Gross Margin · Q3-2025 | 32.0% | |
| Net Income · Q3-2025 | $12M | +59% y/y |
| Diluted EPS · Q3-2025 | $0.27 | +59% y/y |
| Operating Income · Q3-2025 | $14M | +100% y/y |
| Cash and Cash Equivalents · Q3-2025 | $90M | |
| DLA Contract Value · Q3-2025 | $210M | |
| Stock Buybacks YTD · 9M-2025 | $6M |
Guidance
Maintaining expectation of mid-twenty percent gross margin for full year
Management maintained full-year gross margin expectation of mid-twenty percent, with Q4 seasonally lower. Strong Q3 results support positive outlook.
Risks flagged
Seasonality: Q4 typically has lower revenue and gross margin due to transition to heating applications.
“Fourth quarter period has historically resulted in seasonally lower revenue and gross margin.” · word for word
Dependence on government contracts; DLA contract subject to competitive review.
“DLA contract awarded after standard competitive review and rebidding process.”
3 Nov 20258-K · 2.02, 5.02, 7.01Revenue $74M (+20% y/y); Net income $12M (+59% y/y); Gross margin 32earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q3-2025 | $74M | +20% y/y |
| Net income · Q3-2025 | $12M | +59% y/y |
| Gross margin · Q3-2025 | 32.0% |
Risks flagged
Leadership uncertainty due to CEO departure
“CEO stepped down effective immediately; interim CEO appointed; board in late-stage CEO search.”
Government contract awards
federal awards · contract value, often multi-year| Date | Agency | Value | What for |
|---|---|---|---|
| 2026-03-11 | Defense Logistics Agency | $9M | 8511971754!HEPTAFLUOROPROPANE |
| 2026-03-06 | Defense Logistics Agency | $7M | 8511962692!HEPTAFLUOROPROPANE |
Hudson Technologies, Inc. — questions
- What did Hudson Technologies, Inc. file recently?
- 24 SEC filings in the last 12 months. Latest: 10-Q on 2026-08-07 — Company re-awarded the DLA contract after a bid protest and re-bid process, securing a long-term revenue stream through 2031 with an option to 2036.
Every figure on this page comes from Hudson Technologies, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.