OPAL Fuels (OPAL) Research & Development (2023 - 2026)
OPAL Fuels' Research & Development came in at $3.3 million for Q2 2026, down 5.1% from $3.48 million a year earlier but up 81.9% from the prior quarter.
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Analysis
OPAL Fuels (OPAL) Research & Development (2023 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, OPAL Fuels reported Research & Development of $10.5 million, down 57.9% year-over-year; for FY2025, it was $14.94 million, down 21.8% from FY2024.
- Research & Development carries a three-year compound annual growth rate of 32.4% (FY2022 to FY2025).
- Going back by year, Research & Development was $19.11 million in FY2024 (+292.7%), $4.87 million in FY2023 (-24.4%) and $6.44 million in FY2022.
- The five-year range for quarterly Research & Development is $785,000 (Q1 2024) to $8.59 million (Q4 2024).
- Year-over-year, Research & Development has declined for four consecutive quarters, with growth averaging 243.4% over the last eight quarters.
- The fastest year-over-year change in Research & Development over five years came in Q4 2024 (growth of 860.4%), and the weakest in Q1 2026 (a decline of 70.2%).
- Business Quant data shows OPAL's Research & Development at $1.82 million (Q1 2026), $2.84 million (Q4 2025) and $2.54 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Plug Power | 2.60 Bn | 1.68 Bn | -1.68 Mn | 13.42 Mn |
| 2 | Rex American Resources | 1.41 Bn | 57.46 Mn | 53.30 Mn | - |
| 3 | Green Plains | 1.04 Bn | 438.04 Mn | 113.03 Mn | - |
| 4 | Montauk Renewables | 401.08 Mn | 328.86 Mn | - | - |
| 5 | Clean Energy Fuels | 350.37 Mn | -305.43 Mn | 30.14 Mn | - |
| 6 | Gevo | 331.30 Mn | 48.28 Mn | 19.80 Mn | 440,000.00 |
| 7 | OPAL Fuels | 314.56 Mn | 47.17 Mn | 24.47 Mn | 3.30 Mn |
| 8 | Aemetis | 133.29 Mn | 117.04 Mn | 13.52 Mn | - |
| 9 | Verde Clean Fuels | 50.79 Mn | -147.69 Mn | - | 165,000.00 |
| 10 | Blue Biofuels | 35.59 Mn | 35.40 Mn | - | 431,198.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.30 Mn |
| Mar 31, 2026 | 1.82 Mn |
| Dec 31, 2025 | 2.84 Mn |
| Sep 30, 2025 | 2.54 Mn |
| Jun 30, 2025 | 3.48 Mn |
| Mar 31, 2025 | 6.08 Mn |
| Dec 31, 2024 | 8.59 Mn |
| Sep 30, 2024 | 6.80 Mn |
| Jun 30, 2024 | 2.94 Mn |
| Mar 31, 2024 | 785,000.00 |
| Dec 31, 2023 | 894,000.00 |
| Sep 30, 2023 | 974,000.00 |
| Jun 30, 2023 | 1.12 Mn |
| Mar 31, 2023 | 1.88 Mn |
API Access
OPAL Fuels Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=OPAL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "OPAL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=OPAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();