PureCycle Technologies, Inc.

Listed Company

PCTCIK 0001830033NasdaqLarge AcceleratedPlastic Materials, Synth Resins & Nonvulcan ElastomersX1FY ends Dec 31

Period

FY 2025

Revenue

$8.36M

Net Income

$-182.56M

Total Assets

$922.67M

Equity

$45.89M

Shares Out

180.60M

Op. Cash Flow

$-142.74M

Business

PureCycle Technologies, Inc. commercializes a patented dissolution recycling process that physically separates and purifies polypropylene waste into near-virgin quality resin. The company produces PureFive™ resin grades, including ultra-pure and compounded resins tailored for customer specifications, and provides feed preprocessing, purification, and optional compounding services. Key operations include Feed PreP facilities, a commercial purification plant (Ironton), a research and development lab, and planned multi-line purification facilities (Augusta) and international plants, along with equipment and licensing management. PureCycle serves resin distributors, converters, compounders and manufacturers across consumer goods, food & beverage, automotive, textiles and other global markets via direct sales, offtake agreements and distribution channels.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	8	0	0	—	—
Cost of operations	109	86	52	24	8
Research and development	6	6	7	4	4
Selling, general and administrative	59	53	55	53	58
Write-down of long-lead equipment	15	0	0	—	—
Total operating costs and expenses	190	145	114	81	70
Operating loss	−181	−145	−114	—	—
Interest expense	64	57	31	2	—
Interest income	−6	−5	−11	−5	−821,000
Change in fair value of warrants	−62	72	−34	6	1
Loss on extinguishment of debt	4	21	0	0	—
Other (income)/expense, net	−1	−647,000	483,000	227,000	−206,000
Total other expense/(income)	159,000	144	−13	3	8
Loss before income taxes	−182	−289	−101	−85	−78
Provision/(benefit) for income taxes	970,000	−79,000	650,000	0	0
Net loss	−183	−289	−102	−85	−78
Basic (in usd per share)	−1.08	−1.75	−0.62	−0.54	−0.75
Diluted (in usd per share)	−1.21	−1.75	−0.63	−0.55	−0.79
Basic (in shares)	179	165	164	156	103
Diluted (in shares)	180	165	164	156	103
Cumulative translation adjustment	−387,000	92,000	−14,000	0	0
Unrealized gain on debt securities available for sale	4,000	18,000	623,000	−404,000	−237,000
Total comprehensive loss	−183	−289	−101	−85	−78

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	157	16	73	—	—
Debt securities available for sale	14	0	48	99	167
Restricted cash - current	2	17	26	69	142
Accounts receivable, net	2	0	—	—	—
Inventory	9	8	5	—	—
Prepaid expenses and other current assets	14	13	11	5	3
Total current assets	198	54	163	236	345
Restricted cash - noncurrent	9	9	203	95	89
Operating lease right-of-use assets	54	57	30	19	12
Property, plant and equipment, net	658	674	639	506	225
Prepaid expenses and other noncurrent assets	3	4	5	5	6
TOTAL ASSETS	923	798	1,039	861	665
Accounts payable	9	7	3	2	1
Accrued expenses and other current liabilities	43	43	35	35	36
Accrued interest	8	8	8	2	2
Current portion of warrant liability	14	10	0	—	—
Total current liabilities	88	91	56	38	38
Deferred revenue	5	5	5	5	—
Warrant liability, less current portion	45	120	22	56	6
Operating lease right-of-use liabilities	52	55	27	17	—
Series A Preferred Stock liability	30	18	0	—	—
Other noncurrent liabilities	3	6	2	1	1
TOTAL LIABILITIES	572	618	619	350	283
COMMITMENTS AND CONTINGENCIES (NOTE 13)	—	—	—	—	—
Series B Convertible Perpetual Preferred Stock - $0.001 par value, 300 and no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	305	0	—	—	—
Common Stock - $0.001 par value, 450,000 shares authorized; 180,281 and 173,566 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	180,000	174,000	164,000	164,000	128,000
Additional paid-in capital	862	814	764	754	539
Accumulated other comprehensive (loss)/income	−305,000	78,000	−32,000	−641,000	−237,000
Accumulated deficit	−816	−633	−344	−243	−158
TOTAL STOCKHOLDERS' EQUITY	46	180	420	511	382
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY	923	798	1,039	861	665

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Equity-based compensation	15	12	12	11	23
Depreciation expense	29	31	16	4	2
Loss on disposal of equipment	4	0	0	—	—
Operating lease amortization expense	5	3	3	2	0
Amortization of debt issuance costs and debt discounts	24	17	3	1	3
Change in fair value of derivative	−3	−2	0	—	—
Deferred taxes	970,000	−79,000	650,000	0	0
Other	794,000	427,000	2	—	—
Accounts receivable	−2	0	0	—	—
Inventory	−1	−3	−4	−265,000	—
Prepaid expenses and other current assets	−232,000	−3	−4	—	—
Prepaid expenses and other noncurrent assets	−273,000	220,000	711,000	52,000	−3
Accounts payable	3	5	418,000	85,000	−293,000
Accrued expenses and other current liabilities	8	−4	4	—	—
Accrued interest	4	−1	11	0	3
Operating lease right-of-use liabilities	−4	−3	−2	−2	0
Net cash used in operating activities	−143	−145	−95	−65	−55
Purchase of property, plant and equipment	−41	−56	−154	−287	−137
Purchase of debt securities, available for sale	−14	−31	−58	−192	−229
Sale and maturity of debt securities, available for sale	0	79	109	261	—
Net cash used in investing activities	−54	−7	−102	−218	−306
Proceeds from issuance of common stock	33	38	0	206	1
Payments on related party revenue bonds	−10	−980,000	0	0	0
Payment to purchase revenue bonds	0	−253	0	—	—
Proceeds from issuance and exercise of warrants	7	30	0	—	—
Proceeds from equipment lease financing	0	13	22	—	—
Payments on equipment lease financing	−29	−6	−592,000	—	−13,000
Debt and preferred stock issuance costs	−9	−1	−11	—	—
Payments to repurchase shares	−5	−2	−1	−2	−2
Proceeds from convertible note offering	0	0	225	0	0
Other net payments for financing activities	−525,000	2	−91,000	−56,000	147,000
Net cash provided by/(used in) financing activities	324	−109	272	248	293
Net increase/(decrease) in cash and cash equivalents and restricted cash	127	−261	75	−36	−67
Interest paid during the period, net of capitalized interest	36	42	14	1	1
Carrying value of warrant liability issued to satisfy shareholder loan prepayment penalty	0	44	0	0	—
Initial fair value of warrant liability issued to satisfy shareholder loan prepayment penalty	0	7	0	0	—

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