PureCycle Technologies Reports $1.65 Million Revenue and $144.24 Million Net Loss in Q2 2025

PureCycle Technologies, Inc. reported its financial results for the second quarter of 2025, revealing revenues of $1.65 million for the three months ended June 30, 2025, and $3.23 million for the six-month period, marking a significant increase from zero revenues in the same periods of 2024. However, the company also reported a net loss of $144.24 million for the quarter, compared to a loss of $48.21 million in the prior year, and a loss of $135.41 million for the first half of 2025, slightly higher than the $133.82 million loss recorded in the first half of 2024. The increase in losses was attributed to higher operating expenses, particularly in cost of operations, which rose to $29.99 million for the quarter, up from $22.22 million a year earlier.

The company’s total assets increased to $1.04 billion as of June 30, 2025, up from $798.39 million at the end of 2024, primarily due to a substantial increase in cash and cash equivalents, which rose to $284.07 million from $15.68 million. This improvement in liquidity was largely driven by the successful issuance of 300,000 shares of Series B Convertible Perpetual Preferred Stock, generating approximately $300 million in gross proceeds. The company also reported a significant increase in its employee headcount, reflecting its ongoing expansion efforts.

Operationally, PureCycle Technologies is advancing its growth strategy, which includes the construction of new recycling facilities in Thailand and Belgium, as well as a multi-line purification facility in Augusta, Georgia. The company plans to begin construction on the Thailand facility in the second half of 2025, with an expected operational date in mid-2027. The Antwerp facility is projected to be operational by 2028, while the Augusta facility is expected to begin operations in 2029. These developments are part of the company's strategy to enhance its production capacity and market presence in the polypropylene recycling sector.

Despite the current financial challenges, management expressed optimism about future growth, citing the ongoing commissioning of its Ironton Facility in Ohio, which is expected to significantly contribute to revenue generation once fully operational. The company is also focused on expanding its customer base and increasing product adoption rates, with ongoing trials expected to yield additional revenue in future periods. The outlook remains contingent on the successful execution of its operational plans and the ability to meet regulatory requirements for its PureFive™ resin product.

In summary, while PureCycle Technologies has made strides in revenue generation and liquidity, it continues to face substantial losses and operational challenges. The company's strategic initiatives, including facility expansions and product commercialization, are aimed at positioning it for future growth in the recycling industry.