Earnings Releases·Nov 4, 2026, 4:05 PM ET

PureCycle Technologies — Third Quarter 2026 Earnings Summary

Q3 2026 revenue declined to $2.3 million from $4.5 million in Q2 2026 and $2.4 million in Q3 2025; net income was $6.9 million (including a $58.6 million non-cash warrant gain) versus a $28.4 million loss in Q3 2025, while adjusted EBITDA improved to $(28.0) million from $(28.6) million year-over-year.
Full-year 2026 project spend guidance was raised to approximately $51 million from the previous $45–$50 million range, driven by $13.0 million in Q3 spending, with 2027 project spending expected to be directionally lower and a specific range to be provided in Q4.
Liquidity remains strong at $193 million ($109 million cash) with a $200 million revolving credit facility extended to September 2028, while management has placed discretionary spending on hold until commercial progress at Ironton justifies further growth investment.
Strategic pipeline expanded with a new WM feedstock agreement for up to 25 million pounds annually and railcar shipments beginning for a 7–8 million pound annual volume program, though regulatory delays in New Jersey shifted approximately 50 million pounds of potential food-contact volume to 2027.
Corporate governance shifted with Fernando Musa appointed Executive Chairman effective November 3, 2026, and operational issues limiting Q3 production have been resolved, allowing output to align with current commercial demand.