PureCycle Tech - CW26 | 10-Q: FY2025 Q1 Revenue: USD 1.58 M

LB filings
2025.05.07 20:17
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Revenue: As of FY2025 Q1, the actual value is USD 1.58 M.

EPS: As of FY2025 Q1, the actual value is USD 0.05.

Segment Revenue

  • The company reported approximately $1.6 million in revenues during the first quarter ended March 31, 2025, representing its first period of meaningful operations and sales.

Operational Metrics

  • Operating Loss: The operating loss for the three months ended March 31, 2025 was $37.7 million, compared to $39.0 million for the same period in 2024, showing a slight improvement.
  • Net Income: The company reported a net income of $8.8 million for the three months ended March 31, 2025, compared to a net loss of $85.6 million for the same period in 2024.
  • Cost of Operations: Total cost of operations increased by approximately $2.1 million for the three months ended March 31, 2025 compared to the same period in 2024.

Cash Flow

  • Net Cash Used in Operating Activities: Net cash used in operating activities for the three months ended March 31, 2025 was $38.9 million, relatively consistent with the comparable prior year period.
  • Net Cash Used in Investing Activities: During the three months ended March 31, 2025, cash used in investing activities was approximately $15.0 million, entirely comprised of cash paid for capital expenditures.
  • Net Cash Provided by Financing Activities: Net cash provided by financing activities was approximately $49.8 million during the three months ended March 31, 2025.

Unique Metrics

  • Change in Fair Value of Warrants: The fair value of liability-classified awards decreased by approximately $56.7 million during the three months ended March 31, 2025, primarily driven by a decrease in the underlying value of common stock.

Future Outlook and Strategy

  • Core Business Focus: The company is working on improving the operation of the Ironton Facility and continues to pursue commercialization of its products with potential customers. Numerous customer trials are ongoing and are expected to lead to higher future revenues.
  • Non-Core Business: The company is pursuing various structures for project financing of the Augusta Facility and is limiting expenses and adjusting timelines due to market conditions.
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