PureCycle Technologies, Inc. (PCT) Form 10-Q — Nov 4, 2026
PureCycle Technologies filed its Q3 2026 10-Q showing quarterly revenue of $2.35 million against total operating costs of $39.8 million, with nine-month revenue nearly doubling to $11.0 million from $5.7 million a year earlier as production ramps. The company posted Q3 net income of $6.9 million — its positive result driven entirely by a $58.6 million non-cash gain from the decline in warrant fair value — while the nine-month net loss widened to $168.8 million, including a $34.5 million loss on extinguishing most of its Green Convertible Notes.
Key figures
- Eps
- -0.98 (nine months diluted); Q3 basic $0.00
- Revenue
- 10988000
- Net Income
- 6868000
- Revenue Yoy
- +94% for nine months ($10.99M vs $5.66M); Q3 revenue $2.35M vs $2.43M (down YoY)
- Cash Position
- 109041000
- Q3 revenue
- $2.35M vs $2.43M year-ago
- Q3 net income
- $6.87M (vs -$28.4M year-ago), driven by $58.6M warrant fair value gain
- Shares outstanding
- 201.0M
- Accumulated deficit
- $984.7M
- Nine month net loss
- $168.8M
- Customer concentration
- three customers = 60% of Q3 revenue
- Convertible senior notes
- $287.5M at 4.75%, due July 1, 2032, conversion price ~$11.08
- Revolving credit facility
- $200.0M undrawn, SOFR + 17.50%, maturity extended to Sept 30, 2028
- Loss on debt extinguishment
- $34.5M (Q2 2026, Green Convertible Notes repurchase)
- Series a preferred liability
- $42.2M, mandatory redemption Sept 13, 2027 at 105%
- Series b preferred mezzanine
- $321.2M, 7% PIK dividends
- Available for sale investments
- $71.4M
- Green convertible notes remaining
- $34.0M outstanding (was $250.0M), classified current due to Aug 15, 2027 put
AI analysis
Red flags8 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.