Hudson Technologies, Inc. reported a revenue of $246.6 million for the fiscal year ending December 31, 2025, marking a 4% increase from $237.1 million in 2024. However, net income decreased to $16.7 million, down from $24.4 million in the previous year, primarily due to lower average selling prices for refrigerants and increased selling, general, and administrative (SG&A) expenses, which rose to $40.2 million from $33.0 million in 2024. The gross profit for the year was $62.1 million, with a gross margin of 25.2%, down from 27.7% in 2024.
The company experienced significant operational changes, including the acquisition of Denver Refrigerants Inc. for approximately $2.2 million in cash, which is expected to enhance its refrigerant distribution capabilities and broaden its customer network. This acquisition follows the earlier purchase of USA Refrigerants in June 2024, which was valued at $20.7 million. The company also reported a substantial increase in inventory, which rose to $135.9 million from $96.2 million in 2024, reflecting higher purchases to meet anticipated demand.
Hudson Technologies continues to rely heavily on the United States Defense Logistics Agency (DLA), which accounted for 15% of its revenue in 2025, totaling $38.2 million. The company is currently navigating a bid protest related to a new five-year contract awarded by the DLA, which has been temporarily rescinded pending review. The company’s workforce consisted of 281 full-time employees as of February 2026, with no union representation.
Looking ahead, Hudson Technologies anticipates continued challenges due to fluctuating refrigerant prices and regulatory changes impacting the industry. The company has expressed a commitment to maintaining compliance with environmental regulations while pursuing growth opportunities through strategic acquisitions and enhanced service offerings. The management remains optimistic about leveraging its expanded capabilities to drive future revenue growth despite the current market conditions.
About HUDSON TECHNOLOGIES INC /NY
Hudson Technologies, Inc. is a leading provider of environmentally sustainable refrigerant products and management services. Its core activities include refrigerant sales, reclamation, and on-site services to commercial, industrial, and government customers. The company emphasizes refrigerant recovery, recycling, and emission reduction projects, leveraging proprietary technology and regulatory expertise to support the HVACR industry’s transition to lower global warming potential solutions.
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