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PCTTU

PureCycle Technologies, Inc.

PCTTU

PureCycle Technologies, Inc. • NASDAQ
$17.80 ▼ -24.66% (-4.39)
Market Cap $2.44 B
52w High $23.85
52w Low $6.06
Dividend Yield 0%
P/E -28.57
Volume 113
Outstanding Shares 124.95M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.43M ▲ $41.363M ▲ $-28.37M ▲ -1.167K% ▲ $-0.19 ▲ $-4.873M ▲
Q2-2025 $1.65M ▲ $9.994M ▼ $-144.24M ▼ -8.742K% ▼ $-0.81 ▼ $-118.205M ▼
Q1-2025 $1.58M ▲ $16.019M ▲ $8.832M ▲ 558.987% ▲ $0.05 ▲ $32.365M ▲
Q4-2024 $0 $13.284M ▼ $-64.678M ▲ 0% $-0.39 ▲ $-41.009M ▲
Q3-2024 $0 $14.333M $-90.639M 0% $-0.54 $-68.642M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $237.941M ▼ $989.123M ▼ $920.904M ▼ $68.219M ▼
Q2-2025 $284.067M ▲ $1.042B ▲ $943.601M ▲ $98.871M ▼
Q1-2025 $22.482M ▲ $787.338M ▼ $549.125M ▼ $238.213M ▲
Q4-2024 $15.683M ▼ $798.385M ▲ $617.936M ▲ $180.449M ▼
Q3-2024 $83.673M $788.777M $547.361M $241.416M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-28.37M ▲ $-38.462M ▼ $-3.895M ▲ $-8.334M ▼ $-50.738M ▼ $-42.357M ▲
Q2-2025 $-144.24M ▼ $-36.722M ▲ $-8.605M ▲ $305.809M ▲ $260.482M ▲ $-45.327M ▲
Q1-2025 $8.832M ▲ $-38.868M ▼ $-15.004M ▲ $49.823M ▲ $-4.049M ▲ $-53.872M ▼
Q4-2024 $-64.678M ▲ $-31.841M ▲ $-21.595M ▼ $1.294M ▼ $-52.142M ▼ $-53.436M ▼
Q3-2024 $-90.639M $-33.377M $-9.271M $112.846M $70.198M $-42.648M

Five-Year Company Overview

Income Statement

Income Statement PureCycle is still a development‑stage company with essentially no product revenue yet, but it is already carrying the full weight of operating costs. Losses have been consistent since listing and have recently deepened, suggesting higher spending, possible ramp‑up issues, or non‑cash charges flowing through the income statement. The pattern points to a business still firmly in the build‑out phase, with profitability likely some distance away and sensitive to how smoothly commercial plants start up and run at scale.

Balance Sheet

Balance Sheet The balance sheet shows a company that has been building assets for future production, but more recently the financial cushion has thinned. Cash is relatively modest, while debt sits at a meaningful level compared with the company’s equity base. Equity has been eroding as losses accumulate, which reduces the buffer against future setbacks. Overall, the balance sheet looks stretched for a capital‑intensive project, making timely execution and access to new capital very important.

Cash Flow

Cash Flow Cash flow is clearly negative and driven by two forces: ongoing operating losses and heavy investment in new facilities. Operating cash burn has grown, reflecting higher costs as the company prepares for commercial activity. Investment spending has been substantial over several years, though it appears to be easing slightly as early projects approach completion. Even so, free cash flow remains deeply negative, indicating that PureCycle is dependent on external financing and will likely need continued support until plants are running reliably and generating meaningful revenue.

Competitive Edge

Competitive Edge On the strategic side, PureCycle occupies an attractive niche: high‑quality recycling of polypropylene, a type of plastic where demand for premium recycled material far exceeds supply. Its exclusive license to P&G’s purification technology, combined with early mover status and partnerships with major brands, creates a meaningful competitive edge. However, this advantage is still mostly potential rather than fully realized; the company must prove it can operate at scale, secure long‑term feedstock and offtake, and manage costs better than any future rivals that may pursue similar advanced recycling approaches.

Innovation and R&D

Innovation and R&D Innovation is the clear strength of the story. PureCycle is commercializing a solvent‑based process that can turn low‑value, contaminated polypropylene waste into resin with near‑virgin quality, suitable for demanding uses like food packaging. The company is expanding its product range under the PureFive brand and working on a next‑generation plant design with much larger capacity per line. Its R&D focus is on process efficiency, new resin grades, and broader applications. The main risk is not whether the chemistry works in the lab—this is largely validated—but whether the technology runs reliably, safely, and economically at full industrial scale in multiple regions.

Summary

PureCycle today is a high‑potential, high‑risk early‑stage industrial project. Financially, it is pre‑revenue, loss‑making, and cash‑consuming, with a balance sheet that shows both significant investment and growing strain. Strategically, it sits at the crossroads of several powerful themes: circular economy, plastic waste reduction, and corporate sustainability commitments. Its patented technology, strong partners, and clear market need support a compelling long‑term vision, but the outcome now hinges on execution—bringing plants online on time and on budget, proving stable operations, and managing financing carefully in the interim.