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FutureFuel Corp.

CIK:0001337298|SEC Filings

Consolidated Statements of Operations and Net Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue	$ 78,726	$ 35,673	$ 110,678	$ 53,211
Cost of goods sold		47,387		79,572
Gross profit (loss)	15,023	(12,393)	(835)	(27,581)
Selling, general, and administrative expenses
Compensation expense	1,391	1,191	2,660	3,131
Other expense, net	1,562	868	4,307	1,651
Related party expense	127	169	258	330
Research and development expenses	692	933	1,532	2,324
Total operating expenses	3,772	3,161	8,757	7,436
Income (loss) from operations	11,251	(15,554)	(9,592)	(35,017)
Interest income	209	1,068	507	2,305
Interest expense	(30)	(26)	(59)	(62)
Other income	9	505	9	505
Other income, net	188	1,547	457	2,748
Income (loss) before taxes	11,439	(14,007)	(9,135)	(32,269)
Income tax provision	69	183	77	15
Net income (loss)	$ 11,370	$ (14,190)	$ (9,212)	$ (32,284)
Earnings (loss) per common share
Basic (in dollars per share)	$ 0.25	$ (0.32)	$ (0.21)	$ (0.74)
Diluted (in dollars per share)	$ 0.25	$ (0.32)	$ (0.21)	$ (0.74)
Weighted average shares outstanding
Basic (in shares)	44,029,003	43,803,243	44,027,914	43,803,243
Diluted (in shares)	44,039,829	43,803,243	44,027,914	43,803,243
Non-related Parties [Member]
Revenue	$ 78,726	$ 35,673	$ 110,627	$ 53,211
Non-related Parties [Member] \| Excluding Shipping and Handling [Member]
Cost of goods sold	62,620	47,387	109,632	79,572
Non-related Parties [Member] \| Shipping and Handling [Member]
Cost of goods sold	1,080	641	1,878	1,131
Related Parties [Member]
Revenue	0	0	51
Related Parties [Member] \| Excluding Shipping and Handling [Member]
Cost of goods sold	3	1	3	3
Related Parties [Member] \| Shipping and Handling [Member]
Cost of goods sold	$ 0	$ 37	$ 0	$ 86

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (9,212)	$ (32,284)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	5,331	4,739
Amortization of deferred financing costs	38	44
Provision for deferred income taxes	63	2
Change in fair value of derivative instruments	(735)	(281)
Stock based compensation	529	462
Gain on disposal of property and equipment	0	(34)
Change in allowance for credit losses	9	15
Change in inventory reserve	501	524
Noncash interest expense	18	18
Changes in operating assets and liabilities:
Accounts receivable	(10,708)	10,935
Inventory	(11,859)	14,750
Income tax receivable	11	3
Other assets	(4,639)	(2,941)
Dividends payable	16	0
Accrued expenses and other current liabilities	1,150	3,579
Deferred revenue	(524)	3,142
Other noncurrent liabilities	12,707	(2,263)
Net cash used in operating activities	(1,227)	(183)
Cash flows from investing activities
Collateralization of derivative instruments	726	859
Proceeds from the sale of property and equipment	0	34
Capital expenditures	(13,378)	(9,478)
Net cash used in investing activities	(12,652)	(8,585)
Cash flows from financing activities
Payment of dividends	(3,071)	(5,256)
Deferred financing costs	0	(365)
Net cash used in financing activities	(3,071)	(5,621)
Cash paid for income taxes	3	10
Net change in cash and cash equivalents	(16,950)	(14,389)
Cash and cash equivalents at beginning of period	51,316	109,541
Cash and cash equivalents at end of period	34,366	95,152
Noncash investing and financing activities
ROU assets obtained in exchange for new operating lease liabilities	324	0
Change in noncash capital expenditures	(1,382)	1,333
Nonrelated Party [Member]
Changes in operating assets and liabilities:
Prepaid expenses	1,976	1,882
Accounts payable	14,100	(2,367)
Related Party [Member]
Changes in operating assets and liabilities:
Prepaid expenses	0	(12)
Accounts payable	$ 1	$ (96)

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 34,366	$ 51,316
Accounts receivable, net of allowances for expected credit losses of $36 and $28, respectively	20,104	9,405
Inventory, net	40,692	29,334
Income tax receivable	77	88
Prepaid expenses	2,101	4,077
Other current assets	18,930	14,383
Total current assets	116,270	108,603
Property, plant and equipment, net	93,462	86,797
Other assets	5,309	4,922
Total noncurrent assets	98,771	91,719
Total Assets	215,041	200,322
Liabilities and Stockholders’ Equity
Deferred revenue – current	661	1,519
Dividends payable	574	2,761
Accrued expenses and other current liabilities	3,994	2,783
Total current liabilities	28,621	17,736
Deferred revenue – noncurrent	11,978	11,644
Dividends payable - noncurrent	206	196
Noncurrent deferred income taxes	1,118	1,055
Other noncurrent liabilities	20,036	7,048
Total noncurrent liabilities	33,338	19,943
Total liabilities	61,959	37,679
Commitments and contingencies
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.0001 par value, 75,000,000 shares authorized, 43,863,318 and 43,863,507 issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	4	4
Additional paid in capital	203,438	203,771
Retained earnings (accumulated deficit)	(50,360)	(41,132)
Total stockholders’ equity	153,082	162,643
Total Liabilities and Stockholders’ Equity	215,041	200,322
Nonrelated Party [Member]
Liabilities and Stockholders’ Equity
Accounts payable	23,351	10,633
Related Party [Member]
Liabilities and Stockholders’ Equity
Accounts payable	$ 41	$ 40