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PCTTW

PureCycle Technologies, Inc.

PCTTW

PureCycle Technologies, Inc. • NASDAQ
$1.20 ▼ -0.42% (-0.01)
Market Cap $215.26 M
52w High $3.39
52w Low $1.08
Dividend Yield 0%
P/E 0
Volume 13.93K
Outstanding Shares 180.14M

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 essentially a pre‑revenue company in the reported period. It has not yet generated meaningful sales, but it is already carrying the full burden of operating costs. Losses have been consistent every year and recently have become heavier, reflecting ramp‑up, start‑up, and corporate expenses without offsetting revenue. In plain terms, the business model is still in the “investment and build‑out” phase rather than the “earnings” phase, and profitability remains a future goal rather than a current reality.

Balance Sheet

Balance Sheet The balance sheet shows a business that has been rapidly building assets, largely funded by debt and past equity raises. Cash is modest compared with the overall size of its project commitments, and debt now makes up a large share of the capital structure, while equity has been shrinking as losses accumulate. This combination means the company is financially stretched and more sensitive to delays, cost overruns, or weaker‑than‑expected commercialization. It has valuable technology and project assets, but its cushion to absorb setbacks is not especially large.

Cash Flow

Cash Flow Cash flows are clearly negative and driven by two forces: ongoing operating losses and heavy investment in new plants and equipment. Operating cash outflows have grown as the company scales its organization, and free cash flow has been deeply negative for several years because of significant construction spending. This pattern is typical for a capital‑intensive, early‑stage industrial company, but it also means PureCycle depends on continual access to outside capital—through debt, equity, or partnerships—to keep funding its strategy until its facilities are fully up and running and generating stable cash inflows.

Competitive Edge

Competitive Edge PureCycle’s competitive appeal rests on a differentiated recycling technology for polypropylene, backed by an exclusive license from a major consumer products company. It aims to produce recycled material with near‑virgin quality, which could command strong interest from global brands under pressure to improve sustainability. Its early partnerships and offtake agreements suggest real demand if it can deliver at scale. At the same time, it operates in a crowded and evolving space: traditional plastics producers, mechanical recyclers, and other advanced recycling start‑ups are all vying for long‑term contracts. The company’s moat depends heavily on execution—proving its process works reliably at commercial scale and can do so at competitive costs.

Innovation and R&D

Innovation and R&D Innovation is at the core of PureCycle’s story. Its solvent‑based purification process is protected by patents and supported by an internal R&D lab focused on improving efficiency, expanding acceptable waste feedstocks, and developing new product grades. The company is already working on a next‑generation plant design aimed at much larger capacity per site, which could improve unit economics if successfully deployed. It is also building a portfolio of specialized resin grades for different end uses, plus a potential technology‑licensing business. All of this positions PureCycle as more of a technology and platform play than a simple commodity producer, but it also keeps technical and scale‑up risk front and center.

Summary

PureCycle is a high‑risk, high‑uncertainty industrial technology story: strong environmental and commercial promise, but still early in its economic life. Financially, it remains pre‑revenue with sizable and growing losses, a leveraged balance sheet, and ongoing negative cash flow driven by plant construction and scale‑up. Strategically, it benefits from proprietary technology, marquee partnerships, and a clear sustainability tailwind, but its long‑term success hinges on flawless execution—building plants on time and on budget, running them reliably, and proving it can earn attractive margins versus both virgin plastics and other recycling options. Until that proof is visible in revenues and cash flows, the company’s profile will remain that of an ambitious, capital‑intensive growth venture rather than a mature, steady industrial operator.