PureCycle Earnings Reports

PureCycle Technologies, Inc. reported its first quarterly revenues of $1.58 million for Q1 2025, a significant increase from no revenue in the prior year. The company achieved a net income of $8.832 million, a substantial improvement from a net loss of $85.607 million in Q1 2024, primarily driven by a decrease in the fair value of warrants and a gain from the Series A Preferred Stock put option. Operating loss improved to $(37.721) million from $(38.982) million year-over-year. The company continues to focus on improving commercial operating capabilities at its Ironton facility and pursuing project financing for the Augusta Facility.

PureCycle Technologies reported progress in Q4 2024, with improvements at the Ironton facility, the Denver, PA sorting facility coming online, and advancements in compounding. The company is engaged in over 20 trials for its PureFive™ resin and made its first major sale to Drake Extrusion Inc.

PureCycle Technologies reported progress in Q3 2024, marked by improved production metrics at its Ironton Facility and advancements in commercialization. The company is focusing on increasing production to meet strong customer interest and expects meaningful sales in 2025.

PureCycle Technologies made foundational progress in Q2 with production improvements, increased reliability, and higher levels of co-product 2 (CP2). Upgrades at the Ironton Facility led to the highest production month in June. The company received first orders for compounded PureFive™ material and ended the quarter with $10.9 million in unrestricted cash.

PureCycle Technologies reported a net loss of $85.6 million for the first quarter of 2024. The company focused on improving the reliability of the Ironton Facility and driving more consistent product quality. They also reached an agreement for the sale of $37.5 million of Series A Revenue Bonds to Pure Plastics LLC.

PureCycle Technologies announced a corporate update for Q4 2023, highlighting improvements to the Ironton purification facility and the purchase of revenue bonds to improve capital structure. The company made progress towards continuously running the Ironton Facility and produced more than one million pounds of pellets in the first two months of 2024.

PureCycle Technologies announced a corporate update for Q3 2023, highlighting progress in Ironton operations, first commercial shipments of UPR resin, and a $250 million capital raise. Challenges remain in achieving continuous operations at Ironton, but improvements are expected following a November outage. A Limited Waiver agreement was negotiated with Ironton Bondholders to extend milestone completion dates.

PureCycle Technologies announced a corporate update and financial results for the second quarter ending June 30, 2023. They achieved first two bondholder milestones, successfully tested core technologies at scale, and extended their revolving line of credit. The Ironton facility is operational and they anticipate operating margins to be in line with budgeted expectations as they prepare for first shipments.

PureCycle Technologies announced that the Ironton facility is mechanically complete and ready for startup. They secured $62 million in debt financing and are evaluating proposals for the Augusta project. They also submitted a plan of finance to the Development Authority of Augusta, GA.

PureCycle Technologies announced its Q4 2022 results, highlighting the near completion of its Ironton facility, a new line of credit, and expansion into Europe. The company is focused on commencing commercial production and ramping up operations at Ironton.

PureCycle Technologies announced a delay in the mechanical completion of its Ironton facility to Q1 2023 due to equipment delivery delays. The company finalized a joint venture with SK geo centric for a facility in South Korea. Offtake agreements for Augusta lines 1 and 2 reached 111% of capacity. They are evaluating financing options to fund the Augusta project and East Coast PreP facilities.

PureCycle Technologies provided an update for the second quarter ending June 30, 2022. The company's flagship purification facility in Ironton, Ohio, remains on schedule, targeting mechanical completion in the fourth quarter 2022 and expected pellet production by year-end 2022. Project debt financing to fund Augusta’s first two purification lines and three East Coast PreP facilities expected to be completed by the fourth quarter.

PureCycle Technologies reported progress in Q1 2022, with the Augusta facility construction underway and on track for a Q4 2023 startup. The Ironton facility is nearing mechanical completion, and commercial progress is visible through the allocation of Ironton and Augusta's first two lines.