olivLaw · US equity research
Hudson Technologies, Inc. HDSN
Wholesale-Machinery, Equipment & Supplies · SIC 5080 · Vertical: Wholesale-Machinery, Equipment & Supplies (SIC 5080)
Hudson Technologies is a refrigerant services company that recovers, reclaims, reuses and sells refrigerants for the HVACR industry, with demand shaped by AIM Act rules and reclamation needs. In the second quarter of 2026 revenue rose 8% to $78.3 million, driven by sales volume, while selling prices fell.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Hudson Technologies, Inc. (HDSN) stock was 4.41 USD (+2.08% on the day), with market capitalisation 185.6 m USD, P/E 21.4 on diluted EPS of 0.21 USD over the last 12 months, beta 1.03, 52-week range 4.23–8.63 USD. Latest reported quarter (Q2 2026): revenue of 78.3 m USD (+7.5% YoY), net income of 4.9 m USD (−51.3% YoY), diluted EPS 0.12 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 31.2
- weak (30–45)
- Bollinger (20, 2)
- 4.21 – 5.76
- in the lower half of the band · %B 0.13 · band width 31.2%
- SMA 50 / 200
- 5.14 / 5.88
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.22 / -0.12
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −15.5% | −1.1% | −14.4 pp | — |
| 3 months | −29.1% | −0.5% | −28.6 pp | — |
| 6 months | −32.6% | +4.4% | −37.0 pp | — |
| Year to date | −35.6% | +12.3% | −47.9 pp | — |
| 1 year | −48.1% | +13.5% | −61.6 pp | +16.5% |
| 3 years | −64.3% | +76.4% | −140.8 pp | +61.9% |
| 5 years | +16.4% | +63.7% | −47.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 61.9 m | 34.6 m | 55.3 m | 72.8 m | 74.0 m | 44.4 m | 60.2 m | 78.3 m |
| Cost of revenue | 46.0 m | 28.9 m | 43.3 m | 50.0 m | 50.3 m | 40.9 m | 48.3 m | 57.7 m |
| Gross profit | 15.9 m | 5.8 m | 12.1 m | 22.8 m | 23.7 m | 3.5 m | 11.8 m | 20.7 m |
| SG&A | 8.1 m | 8.0 m | 8.2 m | 9.3 m | 8.9 m | 13.9 m | 9.5 m | 12.4 m |
| Operating income | 7.0 m | -3.2 m | 3.1 m | 12.7 m | 14.0 m | -11.2 m | 1.5 m | 7.4 m |
| Depreciation & amortisation | 710.0 k ≈ | 723.0 k | 774.0 k | 728.0 k ≈ | 603.0 k ≈ | 590.0 k | 887.0 k | 879.0 k ≈ |
| Pre-tax income | 9.5 m | -2.7 m | 3.7 m | 13.4 m | 16.4 m | -10.7 m | 1.6 m | 7.4 m |
| Income tax | 1.7 m | -154.0 k | 893.0 k | 3.2 m | 4.0 m | -2.1 m | 1.3 m | 2.5 m |
| Net income | 7.8 m | -2.6 m | 2.8 m | 10.2 m | 12.4 m | -8.6 m | 330.0 k | 4.9 m |
| Diluted EPS | 0.17 | -0.06 ≈ | 0.06 | 0.23 | 0.27 | -0.19 ≈ | 0.01 | 0.12 |
| Operating cash flow | 30.3 m ≈ | 20.7 m | 14.2 m | 6.4 m ≈ | 8.8 m ≈ | -32.5 m | -12.8 m | 6.8 m ≈ |
| Capex | 1.7 m ≈ | 1.5 m | 1.4 m | 464.0 k ≈ | 2.1 m ≈ | 1.1 m | 1.1 m | 576.0 k ≈ |
| Share repurchases | 2.6 m | 5.5 m | 1.8 m | 2.7 m | 1.3 m | 14.2 m | 2.5 m | -9.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 78 percentile of its own 27-quarter history (min 3.3, median 12.8, max 82.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 166.5 m | 162.1 m | 147.6 m | 192.7 m | 325.2 m | 289.0 m | 237.1 m | 246.6 m |
| Revenue YoY | +18.6% | −2.7% | −8.9% | +30.6% | +68.7% | −11.1% | −18.0% | +4.0% |
| Net income | -55.7 m | -25.9 m | -5.2 m | 32.3 m | 103.8 m | 52.2 m | 24.4 m | 16.7 m |
| Net income YoY | −598.9% | unavailable | unavailable | unavailable | +221.8% | −49.7% | −53.3% | −31.7% |
| Diluted EPS | -1.31 | -0.61 | -0.12 | 0.69 | 2.20 | 1.10 | 0.52 | 0.37 |
| Diluted EPS YoY | −603.8% | unavailable | unavailable | unavailable | +218.8% | −50.0% | −52.7% | −28.8% |
| net % | -33.4% | -16.0% | -3.5% | 16.7% | 31.9% | 18.1% | 10.3% | 6.8% |
| Free cash flow | 35.2 m | 32.8 m | 10.2 m | -3.2 m | 59.2 m | 55.0 m | 86.5 m | -8.2 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 39.5 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 243.4 m USD
- Total assets
- 318.6 m USD
- Debt / equity
- unavailable
- Current ratio
- 3.26x
- ROE
- 6.8%
- ROA
- 5.4%
- FCF margin
- -3.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 147.6 m | 192.7 m | 325.2 m | 289.0 m | 237.1 m | 246.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Cost of revenue | — | 121.1 m | 162.3 m | 177.5 m | 171.4 m | 184.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Gross profit | 35.4 m | 71.7 m | 162.9 m | 111.5 m | 65.7 m | 62.1 m | SEC (XBRL)· 16 Mar 2026verified |
| SG&A | 26.6 m | 26.6 m | 28.6 m | 30.5 m | 33.0 m | 40.2 m | SEC (XBRL)· 16 Mar 2026verified |
| Operating income | 5.9 m | 42.3 m | 131.5 m | 78.2 m | 29.3 m | 18.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Depreciation & amortisation | 3.2 m | 3.4 m | 3.2 m | 3.0 m | 3.0 m | 2.7 m | SEC (XBRL)· 16 Mar 2026verified |
| EBITDA | 9.1 m ≈ | 45.7 m ≈ | 134.7 m ≈ | 81.2 m ≈ | 32.3 m ≈ | 21.3 m ≈ | SEC (XBRL)· 16 Mar 2026derived |
| Interest expense | 12.3 m | 11.4 m | 14.3 m | 8.4 m | — | — | SEC (XBRL)· 14 Mar 2024verified |
| Pre-tax income | -5.4 m | 33.4 m | 117.2 m | 69.8 m | 32.0 m | 22.7 m | SEC (XBRL)· 16 Mar 2026verified |
| Income tax | -185.0 k | 1.1 m | 13.4 m | 17.6 m | 7.6 m | 6.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Net income | -5.2 m | 32.3 m | 103.8 m | 52.2 m | 24.4 m | 16.7 m | SEC (XBRL)· 16 Mar 2026verified |
| Diluted EPS | -0.12 | 0.69 | 2.20 | 1.10 | 0.52 | 0.37 | SEC (XBRL)· 16 Mar 2026verified |
| Weighted average diluted shares | 42.7 m | 46.6 m | 47.1 m | 47.3 m | 47.1 m | 45.1 m | SEC (XBRL)· 16 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.3 m | 3.5 m | 5.3 m | 12.4 m | 70.1 m | 39.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Receivables | 9.8 m | 14.2 m | 20.9 m | 25.2 m | 13.6 m | 17.1 m | SEC (XBRL)· 16 Mar 2026verified |
| Inventories | 44.5 m | 94.1 m | 145.4 m | 154.5 m | 96.2 m | 135.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Current assets | 62.1 m | 119.9 m | 176.8 m | 205.0 m | 195.5 m | 210.8 m | SEC (XBRL)· 16 Mar 2026verified |
| Property, plant & equipment, net | 21.9 m | 20.1 m | 20.6 m | 19.4 m | 21.6 m | 23.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Goodwill | 47.8 m | 47.8 m | 47.8 m | 47.8 m | 62.3 m | 65.3 m | SEC (XBRL)· 16 Mar 2026verified |
| Intangibles (excl. goodwill) | 23.2 m | 20.4 m | 17.6 m | 14.8 m | 14.1 m | 11.3 m | SEC (XBRL)· 16 Mar 2026verified |
| Total assets | 161.6 m | 215.7 m | 272.5 m | 296.7 m | 302.7 m | 318.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Accounts payable | — | — | — | — | 8.7 m | 21.1 m | SEC (XBRL)· 16 Mar 2026verified |
| Short-term debt | 9.3 m | 20.2 m | 4.3 m | — | — | — | SEC (XBRL)· 14 Mar 2023verified |
| Long-term debt | 78.0 m | 73.1 m | 39.0 m | — | — | — | SEC (XBRL)· 14 Mar 2023verified |
| Current liabilities | 37.8 m | 64.4 m | 52.6 m | 58.6 m | 47.8 m | 64.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Total liabilities | 121.0 m | 144.8 m | 97.6 m | 67.9 m | 56.8 m | 75.3 m | SEC (XBRL)· 16 Mar 2026verified |
| Equity | 40.6 m † | 70.9 m † | 174.9 m † | 228.8 m † | 245.9 m † | 243.4 m † | SEC (XBRL)· 16 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 11.7 m | -1.2 m | 62.8 m | 58.5 m | 91.8 m | -3.2 m | SEC (XBRL)· 16 Mar 2026verified |
| Capex | 1.5 m | 1.9 m | 3.7 m | 3.6 m | 5.3 m | 5.1 m | SEC (XBRL)· 16 Mar 2026verified |
| Free cash flow | 10.2 m ≈ | -3.2 m ≈ | 59.2 m ≈ | 55.0 m ≈ | 86.5 m ≈ | -8.2 m ≈ | SEC (XBRL)· 16 Mar 2026derived |
| Investing cash flow | -470.0 k | -1.9 m | -3.7 m | -3.6 m | -26.0 m | -7.3 m | SEC (XBRL)· 16 Mar 2026verified |
| Financing cash flow | -12.5 m | 5.3 m | -57.4 m | -47.8 m | -8.2 m | -20.2 m | SEC (XBRL)· 16 Mar 2026verified |
| Share repurchases | — | — | — | — | 8.1 m | 20.0 m | SEC (XBRL)· 16 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 58.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 185.6 m USD
Key indicators
Coverage and freshness
Score by group
58% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.03 – 6.62 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E4.03 – 6.62 (Mid 5.43)3 companies used · median multiple 26.4x · quartiles 19.6x – 32.1xAIT, TLIH, WLFC
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 58.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 3.5% | 40 (vs peers) | 11% |
| FCF conversion · Quality | -382.7% | 0 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | -8.8% | 0 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | -44.8% | 0 (on a fixed band) | 14% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 3.2x | 100 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 21.4x | 39 (on a fixed band) | 18% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -18.6% | 0 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 9.7% | 100 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality20/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation22/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
HUDSON TECHNOLOGIES INC /NY (HDSN). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 246.6 m USD in 2025; YoY growth 4.0%; net margin 3.5%; ROE 3.6%.
The estimated value range is 4.03–6.62 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 5.43 USD, the price of 4.41 USD leaves a potential of 23.2% (value / price − 1) and a margin of safety of 18.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 58.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 3.2x
- Shareholder yield (distributions): 9.7%
What contradicts it
- FCF conversion: -382.7%
- Revenue CAGR 3Y: -8.8%
- EPS CAGR 3Y: -44.8%
- FCF yield: -18.6%
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Wholesale-Machinery, Equipment & Supplies (SIC 5080) · same industry (4-digit SIC) · compared with 5 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AITApplied Industrial Technologies, Inc. | 10.9 bn | 26.4 | 22.5% | 8.4% | +8.8% | +15% / +86% |
| DSGRDistribution Solutions Group, Inc. | 1.6 bn | 180.0 | 1.4% | 0.4% | +9.8% | +26% / +38% |
| WLFCWillis Lease Finance Corp | 1.0 bn | 12.7 | 11.5% | 9.6% | +28.3% | +16% / +213% |
| ASLEAerSale Corporation | 237.2 m | — | -0.9% | -1.2% | −2.8% | −23% / −64% |
| HDSNHudson Technologies Inc | 185.6 m | 21.4 | 3.6% | 3.5% | +4.0% | −48% / −64% |
| TLIHTen-League International Holdings Limited | 167.1 m | 37.9 | 49.6% | 7.3% | +38.4% | +59% / unavailable |
1- and 3-year price returns: for HDSN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 2.45 Total return -44% · Per year -44% | 4.36 Total return -1% · Per year -1% | 6.60 Total return 50% · Per year 50% |
| 3 years | 1.95 Total return -56% · Per year -24% | 3.94 Total return -11% · Per year -4% | 6.60 Total return 50% · Per year 14% |
| 5 years | 1.55 Total return -65% · Per year -19% | 3.55 Total return -19% · Per year -4% | 6.60 Total return 50% · Per year 8% |
- Exit P/E± 0.98
- Net margin± 0.69
- Annual revenue growth± 0.62
- Annual dilution± 0.06
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (28 Oct 2026 · results).
In brief
Hudson Technologies is a refrigerant services company that recovers, reclaims, reuses and sells refrigerants for the HVACR industry, with demand shaped by AIM Act rules and reclamation needs. In the second quarter of 2026 revenue rose 8% to $78.3 million 2, driven by sales volume, while selling prices fell.
SWOT
Strengths
- The company has recognized reclamation technology and an integrated portfolio of refrigerant services 1.
- The balance sheet is unlevered and the company held a solid cash position, giving it financial flexibility 2.
- The DLA contract was re-awarded, which strengthens a relationship with a major customer 2.
Weaknesses
- The company depends on a single segment and refrigerant sales, which make up most of revenue 1.
- Gross margin fell in 2026 while administrative expenses rose substantially 2.
- The main customer, the defense logistics agency, accounts for a significant share of revenue, which exposes the company if that relationship is lost 1.
Opportunities
Risks
- Dependence on a government customerhigh
The contract with the defense logistics agency was challenged in court and re-awarded, and losing this customer could materially affect results 12.
- Volatility of refrigerant priceshigh
Falling market prices can force inventory write-downs and pressure gross margin 12.
- Regulatory dependencemedium
Changes to rules on emissions and production of refrigerants could reduce demand or raise compliance costs 1.
- Seasonality of salesmedium
Cool spring and summer weather can sharply reduce sales, and revenue is concentrated in the second and third quarters 1.
- Cybersecurity exposurelow
Information systems could be disrupted by attacks or failures, affecting operations and reputation 1.
Investment thesis
What would need to be true (bull case)
- Growth in sales volume, even with lower prices, shows the company's ability to expand its business 2.
- Rules limiting new HFC refrigerants could support demand for reclaimed agents over the long term 1.
- The technology partnership and unlevered balance sheet could support diversification if projects progress as planned 23.
What would break the thesis
- Gross margin has fallen and HFC market prices remain weak, which could keep pressuring results 2.
- Dependence on a government customer and a court challenge to its contract create uncertainty about future revenue 12.
- Rising administrative costs could reduce profitability if revenue does not grow enough 2.
What to watch
- Development of gross margin and HFC prices in coming quartersQ3 2026
- Implementation of the new DLA contract and its revenue contribution2026
- Completion of the Icorium partnership and its effect on costs2027
- Final EPA technology transition rulenext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (28 Oct 2026 · results).
The business
Hudson Technologies, Inc. is a refrigerant services company offering solutions from the sale of refrigerant gas through recovery, reclamation and reuse, to energy efficiency services and emergency repair of air conditioning and refrigeration systems 1. The company operates through one reportable segment and describes itself as one of the largest refrigerant reclaimers in the United States 1. Revenue for fiscal 2025 was $246.6 million 1, and refrigerant sales still make up the significant majority of revenue.
Segments
Refrigerant and industrial gas sales
The company sells reclaimed and virgin refrigerants and industrial gases, mainly to users in the US military 1. The Defense Logistics Agency contract was re-awarded in August 2026 with an initial term through August 2031 2.
Refrigerant management and RefrigerantSide services
Services include reclamation, laboratory testing, banking, and on-site decontamination using proprietary equipment such as the Zugibeast system 1. Predictive and diagnostic offerings such as Chiller Chemistry and SmartEnergy OPS help customers reduce energy use 1.
Carbon offset projects
The company participates in creating and monetizing verified emission reductions from destroying CFC refrigerants and reclaiming HFC refrigerants 1. This activity is still developing and depends on carbon market conditions.
Market context
The refrigerant market in the US is heavily regulated under the Clean Air Act and the AIM Act, which limit production of new HFC refrigerants while leaving reclamation unrestricted 1. The amended Montreal Protocol aims to cut HFC production by 85% by 2047 1. Refrigerant prices have been volatile, and in the second quarter of 2026 HFC market prices remained at a low level 2.
Trends
- Phase-down of HFC refrigerantstailwind
AIM Act limits on new HFC production could raise the value of reclaimed agents, provided reclamation stays permitted 1.
- Low HFC market pricesheadwind
HFC market prices stayed depressed in 2026, reducing selling prices and gross margin 2.
- Weather sensitivity and seasonalitymixed
Cooler spring and summer weather can reduce refrigerant demand and prices, while customer demand is concentrated in the second and third quarters 1.
- Advanced separation investmenttailwind
The announced partnership with Icorium for extractive distillation could increase capacity and efficiency in processing complex refrigerant mixtures 3.
Competitive position
Hudson competes with numerous regional and national companies that sell reclaimed and virgin refrigerants and provide reclamation services, some with greater financial, marketing and distribution resources 1. Competition centers on the performance of high-volume equipment, service breadth and price, especially for refrigerant sales 1. Some competitors have established reputations in servicing air conditioning and refrigeration systems 1.
- Regional and national refrigerant reclaimers
Regional and national companies that reclaim and market refrigerants, described in the source without specific names 1.
- Refrigerant recovery and reclamation equipment makers
Manufacturers of refrigerant recovery and reclamation equipment, cited as a separate group of competitors 1.
- Refrigerant suppliers
Some of the company's suppliers also compete in the market for new and reclaimed refrigerants 1.
- Bidder in the DLA contract protest
A competitor challenged the DLA contract award at the Court of Federal Claims; the source does not name it 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Hudson Technologies (HDSN) Signs Icorium Deal. Can Better Refrigerant Recycling Lift Margins?Yahoo Finance — News · 23 Sept 2026 · EN
The latest news item in our archive is from 23 Sept 2026; the newest SEC filing is from 28 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report06 Aug 2026Other events · Financial statements and exhibits
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report12 Jun 2026Other events
- Current report11 Jun 2026Shareholder vote
- Current report28 May 2026Other events · Financial statements and exhibits
- Current report20 May 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report18 May 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report11 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Hudson Technologies, Inc. · 16 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Hudson Technologies, Inc. · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Hudson Technologies, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.