Quarterly ResultMay 6, 2026, 04:02 PM
PureCycle Q1 Revenue $4.1M, Production 8.4M lbs; Ironton Turnaround Done
AI Summary
PureCycle Technologies reported its first quarter 2026 results, with revenue increasing to $4.1 million, marking the fifth consecutive quarter of sequential growth. The company achieved record PureFive® production of 8.4 million pounds and successfully completed the Ironton Facility turnaround ahead of schedule and under budget. Despite these operational successes and final commercialization approval for two P&G applications, PureCycle posted a net loss of $(33.4) million for the quarter. The company maintains a positive outlook on its growth projects in Thailand and Belgium, supported by $131 million in liquidity and potential warrant proceeds of $273 million.
Key Highlights
- Q1 2026 revenue increased to $4.1 million from $1.6 million in Q1 2025.
- Reported a net loss of $(33.4) million in Q1 2026, compared to net income of $8.8 million in Q1 2025.
- Achieved record PureFive® production of 8.4 million pounds in Q1 2026.
- Ironton Facility turnaround completed ahead of schedule and under budget.
- Secured final commercialization approval for two Procter & Gamble (P&G) applications.
- Total liquidity at Q1 end was $131 million, including $90 million in cash.
- Potential warrant proceeds of approximately $273 million are available through March 2027.
- Thailand Facility is on track for mechanical completion by end of 2027 with a ~$250 million investment.