Monitor Q2 revenue trajectory and cash burn rate; the Ironton turnaround completion and first P&G pellet shipments in Q2 could provide near-term catalysts for the stock. Also watch for Thailand project financing updates and warrant exercise activity.
Price Chart
Executive Summary
PureCycle Technologies reported Q1 2026 revenue of $4.127M, beating consensus of $3.8M, and record production of 8.4M pounds. Net loss widened to -$33.4M (vs +$8.8M a year ago) due to higher operating costs and non-cash warrant adjustments, while cash burn increased. Operational milestones include Ironton turnaround completion ahead of schedule and P&G qualification for two applications.
Key Financial Metrics
Key Facts
- Revenue $4.127M in Q1 2026 vs $1.580M in Q1 2025, fifth consecutive quarter of sequential growth
- Net loss $(33.4)M vs net income $8.8M in Q1 2025; Adjusted EBITDA $(30.9)M vs $(25.5)M
- Record quarterly production of 8.4 million pounds of PureFive resin; 10 million pounds feedstock throughput
- Ironton turnaround completed ahead of schedule and under budget; over 170 improvement jobs completed
- PureFive resin passed qualification for first P&G application (Tide caps) and second (Vicks lid); first pellet delivery expected in Q2 2026
- Total liquidity $131M at end of Q1, down from $182M at Q4 2025; $200M revolving credit facility undrawn
- Public and private warrants extended to March 17, 2027 with redemption trigger reduced to $14.38; potential proceeds ~$273M
Financial Impact
Revenue beat consensus by ~8.6% ($4.127M vs $3.8M), but net loss widened to -$33.4M; cash burn increased to $42.7M in operating cash flow
Risk Factors
- Continued cash burn with liquidity declining; may require additional financing or warrant exercise
- Delay in commercial ramp or customer qualification could pressure revenue expectations
- Potential dilution from outstanding warrants (~$273M if exercised) and convertible instruments
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001830033-26-000013 |
| Document: pct-20260506.htm | 0001830033-26-000013 |
| Document: pct-ex99_2.htm | 0001830033-26-000013 |
| Document: 0001830033-26-000013-index-headers.html | 0001830033-26-000013 |
| Document: 0001830033-26-000013-index.html | 0001830033-26-000013 |
| Document: 0001830033-26-000013.txt | 0001830033-26-000013 |
| 8-K Data (Synthetic) | 0001830033-26-000013 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 10, 2026 19w ago | 424B5 | $1.85 $1.59 | ▲ +14.05% | ▲ +17.88% | — |
Jun 10, 2026 19w ago | 424B5 | $1.85 $1.59 | ▲ +14.05% | ▲ +17.88% | — |
Jun 10, 2026 19w ago | S-3ASR | $1.85 $1.59 | ▼ −14.05% | ▼ −17.88% | — |
May 6, 2026 24w ago | 8-K | $0.4850 | awaiting T+60 | — | — |
Mar 27, 2026 30w ago | DEFA14A | $0.4850 | awaiting T+60 | — | — |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers