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Birchtech (BCHT) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Birchtech (BCHT) Q2 2026 earnings results →
Q2 2026 Revenue up 16% year over year to $3.8M · 80¢ of every $1 of revenue lost · operating margin -42.8%
Birchtech made $3.8M in Q2 2026 (+16% Y/Y): Product Revenue $3.5M, Equipment Revenue $259K, Demonstrations & Services revenue $66K. Operating margin -42.8%, net loss $3.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $3.8M in Q2 2026, up 16% year over year and down 11% from the previous quarter. Product Revenue was the largest line at 91% of revenue. Equipment Revenue added $258K year over year (up 55582%), 48% of the total change.
Gross margin was 27.2%, down 2.5 points from Q2 2025. Operating costs exceeded revenue by $1.6M, an operating margin of -42.8%. Operating expenses grew 23% against revenue growth of 16%. The fastest-growing cost line was Research & development (+29%). The quarter ended with a net loss of $3.0M, wider than the previous quarter's $1.3M loss.
Operating cash flow was −$2.8M. Non-cash charges added back $96K of depreciation and amortization. Capital expenditures of $122K exceeded it, leaving free cash flow of −$2.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $3.8M | +16% | -42.8% | −$3.0M | −$2.8M |
| Q1 2026 | 10-Q | May 13, 2026 | $4.2M | +32% | -27.1% | −$1.3M | −$2.2M |
| Q4 2025 | 10-K | Mar 31, 2026 | $3.8M | -32% | -34.6% | −$593K | $964K |
| Q3 2025 | 10-Q | Nov 13, 2025 | $7.4M | +41% | 11.0% | $788K | $321K |
| Q2 2025 | 10-Q | Aug 14, 2025 | $3.3M | -3% | -36.4% | −$1.5M | −$1.7M |
| Q1 2025 | 10-Q | May 15, 2025 | $3.2M | -0.6% | -41.7% | −$1.7M | −$254K |
| Q4 2024 | 10-K | Mar 31, 2025 | $5.6M | +48% | -1.4% | −$1.3M | −$830K |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Birchtech
We are a provider of specialty activated carbon technologies, delivering innovative solutions for air and water purification. We provide patented and proprietary technologies for mercury emissions capture to the coal-fired utility sector, and are developing disruptive water purification technologies with a specialization on forever chemicals such as PFAS and PFOS. We provide mercury capture solutions for coal-fired power plants driven by our patented two-part SEA® process using a powerful combination of science and engineering. Our leading-edge services have been shown to achieve mercury emissions removal at a significantly lower cost and with less operational impact to coal-fired power plants than other used methods, while maintaining and/or increasing power plant output and preserving the marketability of byproducts for beneficial use.
In its own words, from its 10-K, filed Mar 31, 2026.
Birchtech against its Measuring & Controlling Devices, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +16% against the peers' median +9%. Operating margin: -42.8% against the peers' median 6.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BCHT Birchtech | Q2 2026 | $3.8M | +16% | -42.8% |
| TMO Thermo Fisher Scientific | Q3 2026 | $12.1B | +9% | 18.6% |
| ROK Rockwell Automation | Q4 FY26 | $2.3B | +0.7% | 18.6% |
| TRMB Trimble | Q3 2026 | $967M | +7% | 14.7% |
| ONTO Onto Innovation | Q2 2026 | $343M | +35% | 18.5% |
| MIR Mirion Technologies | Q3 2026 | $278M | +24% | 6.2% |
| OWLT Owlet | Q2 2026 | $33.9M | +30% | 5.1% |
| GEOS Geospace Technologies | Q3 FY26 | $15.8M | -36% | -64.1% |
| US Nuclear | Q1 2026 | $352K | -26% | -41.4% |
Source: Birchtech 10-Q on SEC EDGAR · CIK 728385 · Measuring & Controlling Devices, NEC
13F: who owns BCHT and who is buying
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results