Hudson Technologies Inc (HDSN) Investment Analysis:
1. Executive Summary:
Hudson Technologies Inc. (HDSN) operates at the vital nexus of industrial maintenance and environmental stewardship, functioning as a premier provider of lifecycle refrigerant management solutions within the United States. The company’s operational framework is designed to address the complex requirements of the Heating, Ventilation, Air Conditioning, and Refrigeration (HVACR) industry, particularly as it undergoes a multi-decade transition mandated by global and domestic environmental protocols.[1, 2] Hudson’s business model is fundamentally anchored in the circular economy, wherein it collects, decontaminates, reclaims, and resells refrigerant gases that are essential for the cooling infrastructure of modern society.
The primary mechanism for revenue generation at Hudson Technologies is the sale of refrigerant gases, which include legacy chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs) such as R-22, and the current industry-standard hydrofluorocarbons (HFCs) like R-410A.[3, 4] Beyond product sales, the company provides high-value, specialized services under its proprietary "RefrigerantSide®" banner. These services involve onsite system decontamination and refrigerant recovery, leveraging the company’s "Zugbeast®" technology, which permits high-speed recovery and purification without the necessity of extensive system downtime.[1, 3] Geographically, the company’s operations are almost exclusively focused on the United States, where it maintains a robust national footprint through a network of over 500 wholesale distribution points and several strategically located reclamation facilities.[3, 4]
Hudson’s customer base is segmented into three primary categories: wholesale distributors who act as the conduit to smaller contractors, large-scale mechanical contractors who manage significant facility maintenance, and direct industrial or commercial end-users such as chemical processing plants, hospitals, and data centers.[3, 4] Furthermore, the company maintains a critical relationship with the U.S. government, specifically through a long-standing contract with the Defense Logistics Agency (DLA) to provide refrigerants and industrial gases to the military.[5, 6] The end markets served are diverse, encompassing commercial real estate, industrial manufacturing, pharmaceutical logistics, and the burgeoning cold chain for food transportation.[7, 8]
The competitive advantage that compels customers to choose Hudson Technologies over alternative providers is rooted in its status as a "strategic resource holder" and its technical superiority in processing contaminated gases.[3] In a market where the American Innovation and Manufacturing (AIM) Act is aggressively phasing down the production of new (virgin) HFCs, Hudson’s ability to reclaim and certify used gas to AHRI-700 purity standards provides a reliable, uncapped supply source that manufacturers cannot replicate.[3, 9, 10] Customers rely on Hudson for its deep regulatory expertise, its ability to manage the reverse logistics of "dirty" gas through an established buy-back network, and its technical capacity to handle complex refrigerant blends that smaller, local reclaimers lack the infrastructure to process.[4, 11]
SUSTAINABLE CIRCULAR LEADERSHIP
2. Business Drivers & Strategic Overview:
Product and Service Detail for Investors
To understand the economic engine of Hudson Technologies, an investor must first grasp the physical nature of the products and the regulatory scarcity that defines their value. Refrigerants are the "blood" of the HVACR system, essential for heat transfer. However, these molecules are potent greenhouse gases. Hudson’s primary commercial activity involves the acquisition of recovered refrigerant—often termed "dirty gas"—which has been extracted from existing systems by contractors. This gas is frequently contaminated with oils, moisture, acids, and particulates.[3, 4] Hudson utilizes a sophisticated sequence of fractional distillation and gas chromatography to refine this material until it meets the AHRI-700 purity standard, at which point it is chemically indistinguishable from virgin gas and ready for resale into the aftermarket.[4]
The service component of the business is driven by the "Zugbeast®" system, a proprietary, trailer-mounted technology that can be deployed to a customer’s site. This system is capable of performing "high-speed" recovery, meaning it can pull refrigerant out of a large chiller, clean the system of contaminants, and return the gas far faster than standard industry equipment. This is a critical selling point for mission-critical facilities where downtime is measured in thousands of dollars per hour.[3] Additionally, the company offers "SmartEnergy OPS®," a web-based monitoring service that provides real-time analytics on refrigeration system efficiency, helping customers reduce both their energy footprint and the risk of catastrophic leaks.[1]
Moat Analysis: Barriers to Entry and Competitive Advantage
Hudson Technologies possesses a multi-faceted moat that protects its market-leading position.
- Regulatory Scarcity Moat: The AIM Act, enacted in 2020, directs the EPA to phase down HFC production and consumption to 15% of the historic baseline by 2036. As of 2024, the market entered a period of 60% allowance caps, which will drop precipitously to 30% in 2029.[9, 10] This legislative framework creates a permanent supply-demand imbalance. Hudson is uniquely positioned because reclamation—the cleaning of existing molecules—is the only source of HFC supply that is not restricted by these government quotas. This transforms Hudson from a mere distributor into a strategic provider of a scarce commodity.[3]
- Scale and Technical Complexity: Reclaiming simple refrigerants is straightforward, but modern HVACR systems use "blends" of multiple molecules. When these are recovered, they are often cross-contaminated. Separating these blends requires advanced fractional distillation towers and AHRI-certified laboratories, which Hudson has invested in for over three decades.[1, 11] The capital intensity and technical knowledge required to build and operate such facilities at scale represent a formidable barrier to entry for potential new competitors.[11]
- Network Effects and Distribution Moat: Hudson operates a "buy-back" network through more than 500 wholesale locations. This creates a powerful flywheel: wholesalers want to sell their "dirty gas" to Hudson because Hudson provides the logistics and documentation required by the EPA; in turn, Hudson is the most reliable supplier of "clean gas" back to those same wholesalers.[3, 4] This route density and relationship depth make it difficult for rivals to displace Hudson from the supply chain.
- Asset-Specific Advantage: Hudson holds a significant stockpile of legacy gases, most notably R-22 (an HCFC). R-22 is no longer produced or imported in the U.S., but millions of older air conditioning units still require it for servicing. Hudson’s inventory of this "sunset" molecule allows it to capture high margins from customers who would otherwise face the massive capital expense of replacing their entire HVAC system.[3, 4]
TAM / Market Opportunity Analysis
The Total Addressable Market (TAM) for Hudson Technologies is defined by the massive installed base of HVACR equipment in the United States and the rising replacement cost of the refrigerants within them. Market research indicates that the North America refrigerants market was valued at approximately \$1.75 billion in 2025 and is expected to grow to \$2.41 billion by 2030, a CAGR of 6.36%.[12] However, the "Circular Economy" or reclamation segment of this market is expected to outpace the broader sector. The global refrigerant recycling service market is projected to reach \$5.65 billion by 2035, growing at a CAGR of 3.72% as international protocols like the Kigali Amendment are enforced.[13, 14]
In the U.S., the opportunity is amplified by the "HFC Management Rule" (effective January 1, 2026), which imposes mandatory leak detection and repair requirements.[9, 10] This regulation will likely force a higher volume of refrigerant out of leaky systems and into the reclamation cycle, effectively expanding Hudson’s feedstock supply. Furthermore, the transition to HFOs and low-GWP refrigerants creates a new TAM for next-generation reclamation services, which Hudson has already begun to capture through its 2026 licensing agreement with Solstice Advanced Materials.[15, 16]
Competitive Landscape
Hudson Technologies is the largest independent refrigerant reclaimer in the United States, commanding an estimated 35% market share as of 2022.[11] The landscape is divided into three tiers:
| Competitor Tier |
Key Players |
Competitive Position vs. Hudson |
| Direct Rivals |
A-Gas, Airgas, Coolant Recycling Services |
A-Gas is the primary threat, leveraging private equity backing to bid aggressively for feedstock.[3, 11] |
| Manufacturers |
Chemours, Honeywell, Arkema |
These firms produce virgin gas. While they have reclamation arms, their primary incentive is to transition customers to their new patented molecules, whereas Hudson is "molecule agnostic".[3, 11] |
| Broad Distributors |
Watsco, Ferguson, Global Industrial |
These are often Hudson’s customers or partners, but they can occasionally integrate vertically into simple reclamation.[11] |
Hudson appears to be holding ground in its core segments while gaining ground in the transition to next-generation HFOs. By securing licensing rights for patented blends, Hudson has neutralized the risk that manufacturers might "lock out" independent reclaimers from the new chemical ecosystems.[15, 16] The company’s superior processing scale and route density remain its most potent weapons against aggressive price competition from A-Gas.[3]
REGULATORY SCAFFOLDED DOMINANCE
3. Financial Performance & Valuation:
Latest Quarterly Financial Performance: Q1 2026
Hudson Technologies reported its first-quarter 2026 results on May 6, 2026, covering the three-month period ended March 31, 2026.[17, 18] This quarter is seasonally significant as it marks the "kickoff" of the selling season, though it remains a lower-volume period compared to the summer months.[17, 19]
Operational Results vs. Expectations:
The company delivered a significant revenue beat but a massive EPS miss, highlighting the operational friction associated with its ongoing strategic transitions.
| Metric |
Q1 2026 Actual |
Analyst Expectation (Consensus) |
Variance (Surprise) |
| Revenue |
\$60.2 Million |
\$57.15 - \$64.28 Million |
+5.3% to -6.3% (Mixed Beat) [17, 20] |
| Diluted EPS |
\$0.01 |
\$0.05 - \$0.11 |
-80% to -91% (Significant Miss) [17, 20] |
Key Quarterly Financial Metrics:
* Revenue Growth: Revenue increased 9% year-over-year from \$55.3 million in Q1 2025. This was driven by a robust 20% increase in sales volume, partially offset by a shift in the product mix.[17, 18]
* Gross Margin: Compressed to 20% compared to 22% in the prior year. Management attributed this to an unfavorable mix; Q1 2025 benefited from a high-margin "top-off" of new HFO systems, whereas Q1 2026 saw more standard HFC sales.[18, 21]
* Operating Expenses: SG&A rose to \$9.5 million from \$8.2 million. This was primarily due to "post-implementation enhancements" of the new ERP system and strategic hires in marketing.[19, 22]
* Net Income: Dropped to \$0.3 million, down from \$2.8 million in the year-ago period.[15]
* Cash Position: \$19.4 million as of March 31, 2026, down from \$39.5 million at year-end 2025, reflecting a \$12.8 million operating cash outflow typically seen in Q1 as the company builds inventory for the summer.[15]
Guidance Changes & Management Commentary:
Management maintained its full-year gross margin guidance in the mid-25% range, expressing confidence that margins would improve sequentially in Q2 and Q3 as higher-priced HFC inventory is sold during peak demand.[17, 19] For the second quarter of 2026, Hudson provided a revenue outlook of \$73 million to \$76 million.[15, 18] CEO Ken Gaglione noted that the ERP implementation, while causing short-term inefficiencies, is now "integrated and functional" and is already improving management decision-making.[21, 22]
Market Reaction:
Following the announcement, the stock showed surprising resilience. Despite the 90%+ EPS miss, shares saw an after-hours increase of 0.95% and a subsequent trading-day increase of 3.97%, closing at \$6.54.[17, 21] This suggests that investors viewed the volume growth and firming HFC prices (moving above \$6 per pound) as more indicative of long-term health than the transient ERP-related cost spike.[20, 23, 24]
Underlying Drivers and Valuation Analysis
Valuing Hudson Technologies requires looking beyond current trailing multiples to the structural change in its business model.
- HFC Pricing and The 2029 Step-Down: The primary driver of Hudson’s valuation is the HFC allowance schedule. The 2024-2028 period maintains a 60% allowance level, but 2029 marks a drop to 30%.[9, 10] History shows that when supply drops, the price of reclaimed gas—Hudson’s primary product—skyrockets, as seen in the 2022 period when gross margins reached 50%.[25, 26]
- 5-Year Sales Growth Assumption: While recent years have been volatile due to pricing normalization, a 5-year average sales growth rate of 6% to 8% is supported by volume growth and the expansion of the HFO services business.[12, 27]
- Inventory as a Strategic Asset: Hudson’s valuation is heavily influenced by the \$130.7 million in inventory it carries.[18] This inventory acts as a call option on rising refrigerant prices. The company’s unlevered balance sheet (zero debt) provides the flexibility to carry this inventory without financial distress.[6, 15]
- Capital Allocation Quality: The company has doubled its share repurchase authorization to \$20 million for 2026.[28, 29] This aggressive buyback program, funded by organic cash flow, provides a significant tailwind to EPS once operational margins normalize.
| Valuation Metric |
Current Value (Approx) |
Context |
| Market Cap |
\$264.6 Million |
Small-cap territory, high volatility.[17, 30] |
| Trailing P/E |
17.39x - 18.17x |
Reasonable for a regulated growth industry.[16, 17] |
| Price / Sales |
~1.1x |
Suggests the market is not yet pricing in a margin expansion.[27, 31] |
| Price / Book |
1.08x |
Reflects that the stock is trading near its net asset value, providing a margin of safety.[31] |
VOLUMETRIC RECOVERY REBOUND
4. Risk Assessment & Macroeconomic Considerations:
Company-Specific Execution Risks
The most immediate risk to the Hudson thesis is the ERP System Optimization. While the "integrated and functional" status is positive, the \$1.3 million increase in SG&A in Q1 2026 demonstrates the "tail" of implementation costs.[15, 22] If the system fails to deliver the promised operational efficiencies, or if inventory tracking errors lead to "Lower of Cost or Market" (LCM) adjustments—as occurred with a \$4.2 million charge in Q4 2025—profitability will remain structurally impaired.[32]
A second execution risk lies in Management Transition. The company has recently promoted Robert Stoody to Senior VP of Operations and restructured its sales leadership.[17, 22] While these moves aim to "accelerate growth," organizational churn during a critical ERP rollout and a major regulatory shift could lead to temporary lapses in customer service or feedstock procurement.
Competitive & Industry Structure Risks
Hudson faces a Private Equity-Backed Competitor in A-Gas. Unlike Hudson, which must answer to public shareholders for margin compression, A-Gas can bid aggressively for "dirty gas" feedstock to gain market share.[3] This could lead to a permanent narrowing of the "reclamation spread"—the difference between the price at which Hudson buys recovered gas and the price at which it sells the reclaimed product.[3, 14]
Furthermore, the DLA Contract Protest represents a concentration risk. The \$38.2 million in 2025 revenue from the Defense Logistics Agency is subject to a protest of the 2025 award.[5] While the existing contract extends to July 2026, any loss of this business would result in a roughly 15% revenue hit and the loss of a prestigious, stable customer.[5, 6]
Regulatory & Legal Risks
The business is entirely dependent on the EPA’s Enforcement of the AIM Act. Any political or legal shift that weakens the HFC phasedown would destroy the investment thesis. For example, the EPA is currently "reconsidering" the Technology Transitions Rule, proposing to allow the installation of higher-GWP equipment in certain sectors (like supermarkets) until 2032.[9, 33] While this might extend the life of Hudson’s current HFC market, it also delays the higher-margin transition to HFO reclamation and could signal a broader softening of regulatory pressure.[33]
Additionally, the handling of refrigerants is subject to stringent Hazardous Materials Regulations. Non-compliance could result in substantial fines, criminal sanctions, or the revocation of Hudson’s status as an EPA-certified reclaimer.[34]
Macroeconomic & Seasonal Sensitivities
- Weather Dependency: Hudson’s revenue is "thermally sensitive." A cool summer in the United States significantly reduces the demand for refrigerant and depresses prices. Unseasonably warm weather in the Southwestern U.S. was a primary driver of the Q1 2026 revenue beat, but this is a double-edged sword that can lead to significant misses in "mild" years.[17, 19, 34]
- Interest Rates and the Replacement Cycle: High interest rates increase the cost of financing for building owners. This may lead them to "patch" old, leaky systems with reclaimed gas rather than replacing them with new, efficient HFO systems. While this helps Hudson’s short-term volume, it delays the long-term strategic shift to the "Green Economy" molecules.[11]
- Commodity Price Volatility: Refrigerants are commodities. Global supply chain disruptions or shifts in Chinese production of raw fluorspar can cause rapid price swings that are difficult for a small company with a large inventory to manage.[1, 34]
Risk Hierarchy: Warning Signs vs. Terminal Damage
| Risk Level |
Event |
Likely Early Warning Sign |
Long-Term Thesis Damage |
| High |
Regulatory Rollback |
Frequent "reconsideration" notices from the EPA regarding the AIM Act.[9, 33] |
Elimination of HFC production quotas. |
| Medium |
Competitive Squeeze |
Sequential gross margin compression despite rising HFC prices.[3, 20] |
A-Gas or a new entrant capturing 50%+ market share. |
| Medium |
Execution Failure |
Repeated quarterly misses on EPS and rising SG&A/Revenue ratios.[15, 22] |
Structural inability to generate positive Free Cash Flow. |
COMPLIANCE DEPENDENT VOLATILITY
5. 5-Year Scenario Analysis:
The following scenarios analyze the potential outcomes for Hudson Technologies from 2026 through 2031. The "Base Case" is built upon the assumption that the 2029 HFC allowance step-down will occur as planned, creating a favorable pricing environment similar to the 2022 market.[9, 10, 25]
High Case: "The 2029 Supply Crunch" (25% Probability)
- Key Fundamentals: The EPA strictly enforces the 30% allowance cap starting in 2029. Virgin HFC supply becomes scarce, pushing HFC prices above \$15/lb. Hudson leverages its 35% market share and licensed HFO reclamation to dominate the service channel.[9, 10, 20]
- Financial Inputs: Revenue grows at a 12% CAGR as volume and price both increase. Gross margins expand to 35%. The ERP system enables significant operating leverage, bringing SG&A down to 8% of revenue.
- Bridge to Valuation: \$246M Revenue (2025) $\rightarrow$ \$433M Revenue (2031). Net Income $\approx$ \$65M.
- Valuation Assumption: Exit Multiple of 18x P/E, reflecting the company’s "Green Leader" status and predictable cash flow.
- Projected Share Price (2031): \$27.00
Base Case: "The Regulatory Path" (55% Probability)
- Key Fundamentals: The HFC phasedown proceeds as scheduled. Pricing remains firm around \$8-\$10/lb. Hudson successfully optimizes its ERP and integrates its 2024-2025 acquisitions.[5, 19, 20]
- Financial Inputs: Revenue grows at an 8% CAGR. Gross margins stabilize at 25-28%.[19] Net margins settle at 10%. Continued share repurchases reduce the share count to 38 million.
- Bridge to Valuation: \$246M Revenue (2025) $\rightarrow$ \$361M Revenue (2031). Net Income $\approx$ \$36M.
- Valuation Assumption: Exit Multiple of 14x P/E, in line with historical specialty chemical distribution averages.
- Projected Share Price (2031): \$13.25
Low Case: "The Delayed Transition" (20% Probability)
- Key Fundamentals: The EPA grants significant exemptions, delaying the HFC supply crunch. A-Gas continues to bid aggressively, keeping margins depressed. Hudson loses the DLA contract.[3, 5, 33]
- Financial Inputs: Revenue grows at a 2% CAGR. Gross margins remain stuck at 18%. Net margins fall to 4% due to lack of operating leverage.
- Bridge to Valuation: \$246M Revenue (2025) $\rightarrow$ \$271M Revenue (2031). Net Income $\approx$ \$11M.
- Valuation Assumption: Exit Multiple of 10x P/E, reflecting a "no-growth" commodity business.
- Projected Share Price (2031): \$2.90
Compact Scenario Table
| Scenario |
Year 5 Revenue (Est) |
Margin / EPS Assumption |
Valuation Multiple |
Current Price |
Implied 2031 Price |
5-Year Total Return |
Annualized Return |
Probability |
| High |
\$433M |
15% Net / \$1.50 EPS |
18x P/E |
\$6.54 |
\$27.00 |
313% |
32.8% |
25% |
| Base |
\$361M |
10% Net / \$0.95 EPS |
14x P/E |
\$6.54 |
\$13.25 |
103% |
15.2% |
55% |
| Low |
\$271M |
4% Net / \$0.29 EPS |
10x P/E |
\$6.54 |
\$2.90 |
-56% |
-15.1% |
20% |
PROBABILITY WEIGHTED TARGET: \$14.62
STEP-DOWN SCARCITY UPSIDE
6. Qualitative Scorecard:
- Management Alignment: 8/10
Management incentives are well-structured, with Chairman and CEO Ken Gaglione under a contract through 2027 that includes a target bonus of 75% of base salary and significant stock option grants.[35] Insider ownership stands at a healthy 24.07%, and the company has recently adopted a clawback policy to ensure accountability.[36, 37]
- Revenue Quality: 7/10
Revenue is driven by non-discretionary maintenance spend but is subject to commodity price volatility and weather-induced seasonality. However, the move toward recurring-like "RefrigerantSide®" services and government contracts (DLA) enhances overall quality.[1, 3, 4]
- Market Position: 9/10
Hudson is the dominant player in a niche, "protected" industry. Its 35% market share and technical ability to separate contaminated gases provide a significant edge over smaller rivals.[11]
- Growth Outlook: 8/10
The growth outlook is secular and regulation-driven. The 2029 allowance step-down acts as a massive "pre-programmed" catalyst for higher pricing and reclamation demand.[9, 10]
- Financial Health: 10/10
Hudson has an exemplary balance sheet. With \$19.4 million in cash and zero debt, the company’s "unlevered" status is a rare strength in the industrial sector, allowing it to self-fund growth and buybacks.[6, 15]
- Business Viability: 9/10
Cooling is essential for modern data centers, food logistics, and healthcare. The regulatory shift away from HFCs ensures a long-term need for Hudson’s reclamation services to maintain the existing multi-billion-dollar equipment base.[7, 8]
- Capital Allocation: 8/10
Management has prioritized shareholder returns, doubling the 2026 share repurchase authorization to \$20 million. Strategic acquisitions like USA Refrigerants and Refrigerants Inc. have been executed with discipline and are aimed at expanding feedstock access.[18, 28]
- Analyst Sentiment: 5/10
Sentiment is currently muted. Analysts have a "Hold" consensus rating with a \$9.00 target, down from previous highs.[38, 39] This reflects short-term skepticism about ERP-related margin compression.[17, 31]
- Profitability: 6/10
While the company is profitable, recent results have been volatile. The 2022 period showed what is possible (ROE of 95%), but current Q1 2026 margins (20%) are below long-term targets.[25, 40, 41]
- Track Record: 7/10
Hudson has successfully navigated several regulatory cycles (CFC to HCFC to HFC). While the stock has been a "rollercoaster," the company has proven its ability to remain profitable during the "lows" and capture windfall profits during "highs".[25, 27, 32]
OVERALL BLENDED SCORE: 7.7/10
RESILIENT RECLAMATION LEADER
7. Conclusion & Investment Thesis:
Hudson Technologies (HDSN) represents a high-conviction play on the regulatory-induced scarcity of refrigerant gases. The investment thesis is predicated on the fact that while the EPA is cutting the supply of new refrigerants by 85% by 2036, the demand to service the massive installed base of chillers, supermarket racks, and residential HVAC units remains constant. Hudson’s leading 35% market share, technical expertise in complex gas separation, and proprietary "Zugbeast" technology position it as the essential "utility" of the refrigerant lifecycle.
The primary catalysts for the stock over the next 12-24 months include the full optimization of the ERP system (which will lower SG&A and restore margins), the realization of \$20 million in inorganic revenue from recent acquisitions, and the continued "firming" of HFC prices above the critical \$6/lb threshold. While short-term earnings have been obscured by transition costs, the underlying volume growth of 20% in Q1 2026 suggests the market is turning in Hudson's favor.
Significant risks remain, particularly regarding the potential for EPA rule reconsiderations and aggressive bidding from private-equity-backed competitors. However, Hudson’s unlevered balance sheet and aggressive buyback program provide a strong floor for valuation. For investors seeking a specialized small-cap entry into the environmental services and circular economy space, Hudson Technologies offers a unique risk-reward profile tied to the pre-determined schedule of the AIM Act.
SECULAR SCARCITY PLAY
8. Technical Analysis, Price Action & Short-Term Outlook:
Hudson Technologies’ stock is currently exhibiting a bearish technical posture. Trading at \$6.54, the shares remain well below the 200-day moving average of \$7.01 to \$7.92, signaling long-term resistance.[16, 30] Recent price action shows a "cross below" the 200-day MA in April 2026, though the stock has stabilized near the \$6.00 level following a revenue-driven post-earnings bounce.[17, 42] In the short term, the market is likely to remain range-bound between \$5.62 and \$7.50 as it awaits confirmation of Q2 margin improvement.[16, 43] Options data suggests an expected move of ±13% by June 2026, reflecting high implied volatility around the peak cooling season.[43]
BEARISH RESISTANCE STABILIZING
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- HUDSON TECHNOLOGIES TO HOST CONFERENCE CALL TO DISCUSS FOURTH QUARTER AND FULL YEAR 2025 RESULTS, https://www.hudsontech.com/financial-results-earnings-calls/fourth-quarter-and-full-year-2025-results/
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- HUDSON TECHNOLOGIES REPORTS THIRD QUARTER 2025 RESULTS, https://www.hudsontech.com/financial-results-earnings-calls/hudson-technologies-reports-third-quarter-2025-results/
- Refrigerants Market Growth Analysis - Size and Forecast 2026-2030 | Technavio, https://www.technavio.com/report/refrigerants-market-industry-analysis
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- Breaking Down the EPA American Innovation and Manufacturing (AIM) Act, https://www.era-environmental.com/blog/epa-aim-act-hfc-refrigerants
- What is Competitive Landscape of Hudson Technologies Company ..., https://matrixbcg.com/blogs/competitors/hudsontech
- North America Refrigerants Market - MarketsandMarkets, https://www.marketsandmarkets.com/Market-Reports/north-america-refrigerants-market-261323117.html
- Top 50 Refrigerant Recycling Service Market Statistics Report Till 2035 - Spherical Insights, https://www.sphericalinsights.com/blogs/top-50-companies-in-refrigerant-recycling-service-market-statistics-report-till-2035
- Refrigerant Recycling Market Report | Global Forecast From 2025 To 2033 - Dataintelo, https://dataintelo.com/report/global-refrigerant-recycling-market
- Q1 2026: Hudson Technologies (NASDAQ: HDSN) grows revenue 9%, EPS falls, https://www.stocktitan.net/sec-filings/HDSN/8-k-hudson-technologies-inc-ny-reports-material-event-39e8031b4f6b.html
- Hudson Technologies (NASDAQ:HDSN) Issues Quarterly Earnings Results - MarketBeat, https://www.marketbeat.com/instant-alerts/hudson-technologies-nasdaqhdsn-issues-quarterly-earnings-results-2026-05-06/
- Earnings call transcript: Hudson Technologies Q1 2026 misses EPS forecast, https://ca.investing.com/news/stock-market-news/earnings-call-transcript-hudson-technologies-q1-2026-misses-eps-forecast-93CH-4615814
- Hudson Technologies Reports First Quarter 2026 Results - GlobeNewswire, https://www.globenewswire.com/news-release/2026/05/06/3289315/0/en/hudson-technologies-reports-first-quarter-2026-results.html
- Hudson Technologies sticks with gross margin in the mid-25s as ERP optimization continues through 2026 - Seeking Alpha, https://seekingalpha.com/news/4587960-hudson-technologies-sticks-with-gross-margin-in-the-midminus-25s-as-erp-optimization
- What Do Hudson Technologies' Q1 2026 Results Tell Us - Kavout, https://www.kavout.com/market-lens/what-do-hudson-technologies-q1-2026-results-tell-us
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- Untitled, https://www.sec.gov/Archives/edgar/data/925528/000110465923030102/tm238617d1_ex99-1.htm
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- Hudson Technologies (NasdaqCM:HDSN) - Earnings & Revenue Performance, https://simplywall.st/stocks/us/capital-goods/nasdaq-hdsn/hudson-technologies/past
- Hudson Technologies doubles share repurchase authorization to $20 million, https://www.investing.com/news/company-news/hudson-technologies-doubles-share-repurchase-authorization-to-20-million-93CH-4383862
- HUDSON TECHNOLOGIES BOARD OF DIRECTORS APPROVES INCREASE IN SHARE REPURCHASE AUTHORIZATION, https://www.hudsontech.com/press-releases/hudson-technologies-board-of-directors-approves-increase-in-share-repurchase-authorization/
- Hudson Technologies to Host Conference Call to Discuss First Quarter 2026 Results, https://www.stocktitan.net/news/HDSN/hudson-technologies-to-host-conference-call-to-discuss-first-quarter-7o92noxie80h.html
- HDSN - Hudson Technologies, Inc. (NasdaqCM) - Share Price and News - Fintel, https://fintel.io/s/us/hdsn
- Hudson Technologies Reports Fourth Quarter and Year-End 2025 Results, https://www.hudsontech.com/financial-results-earnings-calls/hudson-technologies-reports-fourth-quarter-and-year-end-2025-results/
- Phasedown of Hydrofluorocarbons: Reconsideration of Certain Regulatory Requirements Promulgated Under the Technology Transitions Provisions of the American Innovation and Manufacturing Act of 2020 - Regulations.gov, https://www.regulations.gov/document/EPA-HQ-OAR-2025-0005-0001
- Hudson Technologies, Inc. 2025 Annual Report: Refrigerant Services, Risk Management, and Corporate Overview - Minichart, https://www.minichart.com.sg/2026/03/17/hudson-technologies-inc-2025-annual-report-refrigerant-services-risk-management-and-corporate-overview/
- Employment Agreement between Hudson Technologies, Inc. and Kenneth Gaglione (Chairman, President & CEO) - Justia Business Contracts, https://contracts.justia.com/companies/hudson-technologies-inc-7786/contract/1347895/
- HDSN Insider Trading - Hudson Technologies, Inc. - Fintel, https://fintel.io/sn/us/hdsn
- Hudson Technologies (NASDAQ: HDSN) details 2026 director votes and pay plan, https://www.stocktitan.net/sec-filings/HDSN/def-14a-hudson-technologies-inc-ny-definitive-proxy-statement-9355fbb128d6.html
- Hudson Technologies (NASDAQ:HDSN) Shares Cross Below 200 Day Moving Average - Should You Sell? - MarketBeat, https://www.marketbeat.com/instant-alerts/hudson-technologies-nasdaqhdsn-shares-cross-below-200-day-moving-average-should-you-sell-2026-04-21/
- What is the current Price Target and Forecast for Hudson Technologies (HDSN) - Zacks Investment Research, https://www.zacks.com/stock/research/HDSN/price-target-stock-forecast
- Hudson Technologies - HDSN - Moat, Increasing Demand, Diminishing Supply - DD : r/ValueInvesting - Reddit, https://www.reddit.com/r/ValueInvesting/comments/whwcc4/hudson_technologies_hdsn_moat_increasing_demand/
- Earnings call transcript: Hudson Technologies Q1 2026 misses EPS forecast - Investing.com, https://www.investing.com/news/transcripts/earnings-call-transcript-hudson-technologies-q1-2026-misses-eps-forecast-93CH-4665958
- Hudson Technologies (NASDAQ:HDSN) Shares Cross Below 200-Day Moving Average - Time to Sell? - MarketBeat, https://www.marketbeat.com/instant-alerts/hudson-technologies-nasdaqhdsn-shares-cross-below-200-day-moving-average-time-to-sell-2026-04-08/
- HDSN Expected Move - Hudson Technologies, Inc. - OptionCharts, https://optioncharts.io/options/HDSN/expected-move?expiration_dates=2026-06-18:w