HDSNNasdaqWholesale-Machinery, Equipment & SuppliesUS GAAP · USD

Hudson Technologies, Inc

Hudson Technologies Inc. is a U.S.-based refrigerant management and distribution company that sells refrigerants, industrial gases, cylinders, and related products, with a strong emphasis on refrigerant sales and recovery/reclaim-related activity. It also serves as prime contractor on a U.S. Defense Logistics Agency contract that supplies refrigerants and compressed gases to military and federal customers.

Kysy yhtiöstä
Liikevaihto247milj. USD
+4,0 %v/v
Liikevoitto (EBIT)18,6milj. USD
−36,7 %v/v
EBIT-marginaali7,5%
−4,8 %-yks.v/v
Nettotulos16,7milj. USD
−31,7 %v/v
Vapaa kassavirta−8,2milj. USD
−109,5 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

0100200300400milj. USD2020: 148 milj. USD2020: EBIT 5,9 milj. USD20202021: 193 milj. USD2021: EBIT 42 milj. USD20212022: 325 milj. USD2022: EBIT 132 milj. USD20222023: 289 milj. USD2023: EBIT 78 milj. USD20232024: 237 milj. USD2024: EBIT 29 milj. USD20242025: 247 milj. USD2025: EBIT 19 milj. USD202524719
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Hudson Technologies, Inc

Liiketoiminta

Osuus liikevaihdosta
Refrigerants75 %

Virgin and reclaimed refrigerants sold to refrigeration industry customers and government users.

RefrigerantSide® Services10 %

Services tied to refrigerant management, recovery, and related customer support.

Industrial gases8 %

Compressed gases and related products sold mainly through the DLA and military channels.

Cylinders and related items7 %

Cylinders and ancillary products used to store, transport, and manage gases.

Tuotteet

Raportoitu · osuus liikevaihdosta
97,1%FY2025100 %
  • Products97,1 %
  • Services2,9 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Hudson sells primarily to wholesalers, brokers, contractors, and end-users in the refrigeration industry, with demand concentrated in the continental United States. It also serves the U.S. Defense Logistics Agency and, through that contract, U.S. military commands, federal civilian agencies, and foreign militaries.

Refrigeration wholesalers and brokers

Buy refrigerants in bulk for resale into the HVACR supply chain and value availability, pricing, and product mix.

Contractors and service companies

Buy refrigerants and related products for installation, maintenance, and repair of cooling systems.

Industrial and end-user customers

Buy refrigerants and gases for direct operational use in refrigeration and cooling applications.

U.S. Defense Logistics Agency

Buys refrigerants, compressed gases, cylinders, and related items for military and federal supply needs.

Military and federal agencies

Use products supplied under the DLA contract for base and installation support.

Strategia

Hudson’s strategy centers on maintaining access to refrigerant supply, monetizing its inventory and distribution network, and preserving its government contract position. The company is also investing in operational systems, including ERP replacement, while managing working capital through cash flow and its credit facility.

Secure refrigerant sourcing and inventory availabilityLyhyt aikaväli

Supply constraints and phase-down rules can limit sales volume and pricing power.

Retain and expand the DLA relationshipLyhyt aikaväli

The government contract is a meaningful revenue source and validates the company’s logistics capability.

Improve operating efficiency and systemsKeskipitkä aikaväli

ERP and process upgrades support inventory control, receivables management, and scalability.

Maantiede

The company’s commercial refrigeration customer base is primarily located in the continental United States, and management notes that receivables are concentrated there. Its government business extends beyond the U.S. to foreign militaries through the DLA contract, but the core operating footprint remains U.S.-centric.

Riskit

Hudson is exposed to regulatory and supply-chain risk because refrigerants are highly regulated and some legacy products are being phased out. It also has customer concentration risk, with the DLA representing more than 10% of revenue in recent periods, and its results are seasonal with the strongest revenue typically in the second and third quarters.

Järjestetty vakavuuden mukaan
Regulatory phase-down of HCFC and HFC refrigerantsKorkea

The company depends on products that are being restricted or phased out, which can limit supply and alter pricing.

Kohdistuu: Refrigerant sales and inventory availability

Customer concentration at the DLAKorkea

The DLA accounted for more than 10% of revenue in recent periods, so contract changes would affect results.

Kohdistuu: Government contract revenue and receivables

Seasonality and working-capital swingsKeskitaso

Revenue peaks in the second and third quarters, which can cause large movements in receivables and inventory.

Kohdistuu: Quarterly cash flow and balance sheet volatility

Inventory price and sourcing riskKeskitaso

The company holds significant inventory and must source products on commercially reasonable terms.

Kohdistuu: Gross margin and inventory valuation

Kysy Clarifolta: Hudson Technologies, Inc

Kirjanpito

Harkinnanvaraiset erät
Inventory reserves and valuation

The company carries significant refrigerant inventory, and pricing can be affected by regulation, supply, and demand.

Vaikutus: Can change gross margin and reported asset values

Goodwill and intangible asset impairment

Management explicitly cites goodwill and intangible assets as key estimates.

Vaikutus: Could create non-cash charges if expected cash flows weaken

Seasonal revenue and working-capital timing

The company says it typically generates the most revenue in the second and third quarters.

Vaikutus: Affects quarterly comparability of revenue, receivables, and operating cash flow

Revenue concentration disclosures

The DLA exceeds 10% of revenue in recent periods and must be monitored as a major customer.

Vaikutus: Important for assessing concentration risk and revenue stability

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 24.9.2026