Birchtech Corp. reported a revenue of approximately $17.6 million for the fiscal year ending December 31, 2025, marking a slight increase from $17.4 million in 2024. The revenue primarily stemmed from sorbent product sales, which totaled about $14.2 million, down from $14.5 million the previous year. The decrease in product sales was attributed to a mix of operational factors, including unexpected customer outages and variations in plant operations. Licensing revenues, however, increased to approximately $3.2 million from $2.8 million, driven by new agreements with utility defendants. The company also recorded other revenues of $234,000, up from $116,000 in 2024.
The company's operating loss improved to approximately $3.0 million in 2025 from $7.2 million in 2024, largely due to increased licensing revenue and a significant reduction in selling, general, and administrative (SG&A) expenses, which fell to $8.6 million from $14.2 million. This reduction was influenced by lower legal fees associated with patent litigation and a decrease in salaries and wages, as there were no comparable bonus compensations in 2025. Research and development expenses were newly introduced in 2025, totaling approximately $1.8 million, as the company began investing in water treatment technologies.
In terms of operational metrics, Birchtech Corp. maintained a customer base heavily reliant on a few key clients, with three customers accounting for 49% of total revenues in 2025. The company also reported a working capital deficiency of approximately $5.7 million as of December 31, 2025, compared to $2.7 million the previous year. Total liabilities increased to approximately $11.0 million, up from $9.1 million in 2024, primarily due to a rise in accounts payable and accrued expenses.
Strategically, Birchtech has made significant investments in its water treatment business, launching new sorbent technologies aimed at addressing emerging regulations regarding per- and polyfluoroalkyl substances (PFAS). The company established two state-of-the-art laboratory facilities in Pennsylvania and North Dakota, which are expected to enhance its capabilities in water treatment innovation. Additionally, the company has been actively involved in patent litigation to protect its proprietary technologies, achieving a notable $57.1 million patent infringement verdict in March 2024, which is currently under appeal.
Looking ahead, Birchtech Corp. anticipates that the proceeds from its recent public offering, which generated approximately $16.4 million, along with existing cash and expected revenues, will provide sufficient liquidity to fund operations for at least the next twelve months. The company is focused on expanding its market share in the water treatment sector while continuing to enforce its patent rights in the mercury emissions control market.
About Birchtech Corp.
Birchtech Corp. specializes in advanced activated carbon technologies for air and water purification. Its core offerings include patented mercury emission capture systems for coal-fired power plants and innovative solutions for removing PFAS and other contaminants from drinking water. Serving utility companies and water utilities, the company leverages proprietary science, strong patent positions, and tailored solutions to provide cost-effective, environmentally friendly pollution control and water treatment technologies.
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