PureCycle Technologies reported its fourth‑quarter 2025 results on February 26, 2026, showing revenue of $2.7 million and a loss per share of $‑0.42. The company’s revenue fell well below consensus estimates of $5.73 million to $7.58 million, while the earnings loss missed the consensus estimate of $‑0.25 per share, though some reports noted a beat of $‑0.14. The miss reflects a combination of lower-than‑expected customer adoption and macro‑economic headwinds that delayed commercial sales.
Revenue for the quarter was the fourth consecutive sequential increase, up from $2.43 million in Q3 2025 and $0.0 million in Q4 2024. Despite the sequential growth, the $2.7 million figure represents a 43–50 % shortfall relative to analyst expectations, underscoring the gap between operational progress and market demand. Management cited delayed customer adoption and regulatory approval delays—particularly in New Jersey—as key reasons for the revenue miss, while macro‑economic conditions shifted brand focus away from sustainability initiatives.
The loss per share of $‑0.42 per share, which missed the consensus estimate, can be attributed to the revenue shortfall and the company’s continued investment in commercial ramp‑up. PureCycle’s cash burn of $24.5 million in the quarter, driven by capital expenditures on plant expansion and technology development, amplified the earnings loss. While the company maintained strict cost controls, the high burn rate and lower revenue limited the ability to offset the loss per share.
For the first quarter of 2026, PureCycle guided a total project‑related spend of $19 million to $20 million, and for the full year it expects total project‑related spend of $39 million to $45 million. The guidance signals continued confidence in the commercial pipeline and a commitment to scaling operations, even as the company navigates the current revenue miss. The guidance also reflects the company’s strategy to reach Ironton breakeven and then corporate breakeven, as noted by CFO Donald Carpenter.
Management emphasized the company’s focus on converting technical success into accelerated commercial revenue growth. CEO Dustin Olson said, “2026 is about converting our technical success into accelerated commercial revenue growth quarter‑over‑quarter.” He added, “While 2025 had real commercial delays relative to our original projections, the technical progress was substantial and the setup for ‘26 is strong.” CFO Carpenter reiterated the revenue goal: “Our revenue goal is unchanged: reach Ironton breakeven, then corporate breakeven.”
PureCycle’s long‑term prospects remain supported by regulatory tailwinds—such as growing mandates for recycled content in the U.S. and Europe—and by advances in its Gen‑2 purification design, which could lower costs below virgin polypropylene. However, the company faces headwinds from customer adoption timing, macro‑economic headwinds, and ongoing high cash burn. The Q4 2025 results highlight the need for continued investment and market education to translate operational progress into revenue growth, while the guidance indicates management’s confidence in the company’s strategic trajectory.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.