PureCycle Technologies, Inc. PCT
When used in this report, the terms "we," "us," "our," "PCT" and the "Company" mean PureCycle Technologies, Inc. and its consolidated subsidiaries, collectively. We are a Florida-based corporation focused on commercializing a patented dissolution recycling technology for polypropylene that physically separates the polymer from other plastics, colors, odors and impurities (the "Technology"). The Technology was originally developed by P&G and is designed to restore recycled polypropylene waste into like-new resin, called PureFive® resin. Our PureFive® resin has similar properties and applicability for reuse as virgin polypropylene. We have a global license for the Technology from P&G, which was amended during 2025 to permanently waive the possible clawback of our exclusivity for plants located in North America. The amendment also extends the time that our plants must begin construction and commence sales in other regions to avoid a clawback of the exclusivity under the license agreement. We have introduced an important new product to the global polypropylene market that will assist corporations in meeting their sustainability goals, as well as federal and state regulations and mandates, providing consumers with polypropylene-based products that are sustainable, and reducing overall polypropylene waste in the world's landfills and oceans.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $8.4M | $0 | $0 | — | — | — | — |
| R&D | $5.9M | $6.5M | $6.6M | $4.3M | $3.7M | $648.0K | — |
| SG&A | $59.5M | $53.1M | $55.3M | $53.2M | $57.6M | $28.0M | — |
| Total operating expenses | $189.8M | $145.4M | $113.9M | $81.3M | $69.6M | $37.2M | — |
| Operating income | -$181.4M | -$145.4M | -$113.9M | — | — | — | — |
| Interest expense | $64.4M | $56.9M | $31.4M | $2.3M | $7.5M | $4.1M | — |
| Pre-tax income | -$181.6M | -$289.2M | -$101.1M | -$84.7M | -$77.5M | -$53.0M | — |
| Income tax | $970.0K | $79.0K | $650.0K | $0 | $0 | $0 | — |
| Net income | -$182.6M | -$289.1M | -$101.7M | -$84.7M | -$77.5M | -$53.0M | — |
| EPS, basic | -1.08 | -1.75 | -0.62 | -0.54 | -0.75 | -1.96 | — |
| EPS, diluted | -1.21 | -1.75 | -0.63 | -0.55 | -0.79 | -1.96 | — |
| Shares, diluted (wtd. avg.) | 180.4M | 165.4M | 164.0M | 156.2M | 103.0M | 28.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $156.7M | $15.7M | $73.4M | $227.5M | $263.9M | $330.6M | $150.0K |
| Short-term investments | $13.6M | $0 | $48.2M | $98.6M | $167.4M | $0 | — |
| Receivables | $2.0M | $0 | — | — | — | — | — |
| Inventory | $9.4M | $8.1M | $4.8M | — | — | — | — |
| Total current assets | $198.0M | $53.9M | $162.6M | $236.2M | $345.3M | $64.9M | — |
| Property, plant and equipment | $657.8M | $674.1M | $638.7M | $505.7M | $225.2M | $74.1M | — |
| Total assets | $922.7M | $798.4M | $1.04B | $861.3M | $664.7M | $408.0M | — |
| Accounts payable | $9.2M | $6.6M | $2.9M | $1.7M | $1.4M | $1.1M | — |
| Short-term debt | — | $12.9M | $9.1M | $0 | — | — | — |
| Total current liabilities | $87.6M | $90.9M | $55.6M | $38.3M | $38.5M | $33.1M | — |
| Long-term debt | — | — | — | $233.5M | $232.5M | — | — |
| Total liabilities | $572.1M | $617.9M | $619.1M | $350.5M | $283.1M | $296.2M | — |
| Retained earnings | -$815.9M | -$633.4M | -$344.2M | -$242.5M | -$157.8M | -$80.7M | — |
| Total equity | $45.9M | $180.4M | $420.2M | $510.9M | $381.5M | $111.7M | $2.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$142.7M | -$144.8M | -$94.9M | -$65.5M | -$54.5M | -$18.0M | — |
| Depreciation and amortisation | $29.1M | $31.3M | $15.9M | $3.6M | $2.3M | $1.9M | — |
| Stock-based compensation | $14.9M | $11.7M | $11.8M | $10.8M | $22.6M | $5.6M | — |
| Capital expenditure | $40.8M | $55.6M | $153.9M | $287.2M | $137.4M | $29.8M | — |
| Investing cash flow | -$54.5M | -$7.0M | -$102.1M | -$218.4M | -$305.6M | -$29.8M | — |
| Financing cash flow | $323.7M | -$109.2M | $272.0M | $247.5M | $293.4M | $378.2M | — |
| Buybacks | $4.9M | $1.6M | $1.4M | $1.6M | $1.7M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-076801.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $0 | $0 | $8.4M |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$53.0M | -$77.5M | -$84.7M | -$101.7M | -$289.1M | -$182.6M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- New debt or obligation Item 2.03
- Regulation FD disclosure Item 7.01
- Material agreement signed Item 1.01
- New debt or obligation Item 2.03
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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