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PureCycle Technologies (PCT) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · PureCycle Technologies (PCT) Q3 2026 earnings results →

Q3 2026 Revenue down 3% year over year to $2.3M · 292¢ of every $1 of revenue kept as net profit

PureCycle Technologies made $2.3M in Q3 2026 (-3% Y/Y). Operating margin n/m, net earnings $6.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$2.3M
Year over year-3%
Operating marginn/m
Net earnings$6.9M
Operating cash flow−$32.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $2.3M in Q3 2026, down 3% year over year and down 48% from the previous quarter.

Operating costs exceeded revenue by $37.5M, an operating margin of -1594.7%. Total costs fell 4% while revenue fell 3%. The fastest-growing cost line was Other operating costs (+13%). Net earnings were $6.9M. The effective tax rate was 0.0%. Non-operating items added $44.3M, 645% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was −$32.3M. Non-cash charges added back $7.5M of depreciation and $2.1M of share-based compensation. Working capital and other items used $48.7M. Capital expenditures of $6.9M exceeded it, leaving free cash flow of −$39.1M.

Quarterly history

PureCycle Technologies revenue by quarterPureCycle Technologies revenue by quarter$1.6MQ1 2025$1.6MQ2 2025$2.4MQ3 2025$2.7MQ4 2025$4.1MQ1 2026$4.5MQ2 2026$2.3MQ3 2026
PureCycle Technologies net earnings by quarterPureCycle Technologies net earnings by quarter$8.8MQ1 2025−$144MQ2 2025−$28.4MQ3 2025−$18.8MQ4 2025−$33.4MQ1 2026−$142MQ2 2026$6.9MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$2.3M-3%n/m$6.9M−$32.3M
Q2 202610-QAug 6, 2026$4.5M+174%-916.1%−$142M−$50.0M
Q1 202610-QMay 6, 2026$4.1M+161%n/m−$33.4M−$42.7M
Q4 202510-KFeb 26, 2026$2.7M—n/m−$18.8M−$28.7M
Q3 202510-QNov 6, 2025$2.4M—n/m−$28.4M−$38.5M
Q2 202510-QAug 7, 2025$1.6M—n/m−$144M−$36.7M
Q1 202510-QMay 7, 2025$1.6M—n/m$8.8M−$38.9M

Charts

PureCycle Technologies: revenue growth, year over year and quarter over quarterPureCycle Technologies: revenue growth, year over year and quarter over quarterY/YQ/Q+4%Q2 2025+47%Q3 2025+11%Q4 2025+161%+53%Q1 2026+174%+9%Q2 2026-3%-48%Q3 2026
Latest (Q3 2026): Y/Y -3%, Q/Q -48%.
PureCycle Technologies: where the cash came from (+) and went (−), TTM to Q3 2026PureCycle Technologies: where the cash came from (+) and went (−), TTM to Q3 2026Shares issued$163MOperating cash flow−$154MCash drawn (+) / kept (−)$126MOther investing−$71.2MCapital spending−$55.4MNet borrowing (+) / repaid (−)−$25.1MOther financing$19.9MBuybacks−$3.2M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
PureCycle Technologies: profit against cash, quarter by quarterPureCycle Technologies: profit against cash, quarter by quarterNet incomeOperating cash flow−$64.7M−$31.8MQ4 2024$8.8M−$38.9MQ1 2025−$144M−$36.7MQ2 2025−$28.4M−$38.5MQ3 2025−$18.8M−$28.7MQ4 2025−$33.4M−$42.7MQ1 2026−$142M−$50.0MQ2 2026$6.9M−$32.3MQ3 2026
Latest (Q3 2026): Net income $6.9M, Operating cash flow −$32.3M.
PureCycle Technologies: diluted shares by fiscal year (split-adjusted)PureCycle Technologies: diluted shares by fiscal year (split-adjusted)115MFY2020103MFY2021156MFY2022164MFY2023165MFY2024180MFY2025
+57.0% since FY2020: more shares outstanding (issuance, stock pay); earlier years scaled for the 4-for-1 split before FY2021.
PureCycle Technologies in its industry: growth against margin (12 companies, SIC 2821)PureCycle Technologies in its industry: growth against margin (12 companies, SIC 2821)revenue growth, year over year →↑ operating marginmedian +9%median 9%DOW Chemical CoDOWEMNDDALBAVNTTSEOQHXLASIXROGHGYNPCT (-3%, -100%)
Plastic Materials, Synth Resins & Nonvulcan Elastomers; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵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 PureCycle Technologies

PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented dissolution recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as #5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from #5 plastic waste resulting in our PureFive ® resin that can be recycled and reused multiple times, changing our relationship with plastic. www.purecycle.com

In its own words, from its 8-K, filed Aug 6, 2026.

PureCycle Technologies against its Plastic Materials, Synth Resins & Nonvulcan Elastomers peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -3% against the peers' median +9%.

CompanyQuarterRevenueY/YOp. margin
PCT PureCycle TechnologiesQ3 2026$2.3M-3%n/m
DOW ChemicalQ2 2026$12.1B+20%7.2%
DOW DOWQ3 2026$11.3B+13%5.7%
EMN Eastman ChemicalQ3 2026$2.4B+8%10.4%
DD DuPont de NemoursQ3 2026$1.9B+4%12.5%
ALB AlbemarleQ3 2026$1.6B+19%9.5%
AVNT AvientQ3 2026$891M+10%9.3%
TSEOQ TrinseoQ2 2026$845M+8%0.0%
HXL HexcelQ3 2026$496M+9%11.0%

Source: PureCycle Technologies 10-Q on SEC EDGAR · CIK 1830033 · Plastic Materials, Synth Resins & Nonvulcan Elastomers

13F: who owns PCT and who is buying

Largest holders of PCT (13F)Largest holders of PCT (13F)Sylebra Capital LLC$276MVanguard Group$128MBlackRock$90.0MLongview Asset Management, LLC$78.8MVanguard Portfolio Management LLC$64.4MVanguard Capital Management LLC$60.9MAbundance Wealth Counselors$55.8MAlyeska Investment Group, L.P.$46.3MRokos Capital Management LLP$40.0MShay Capital LLC$37.6M
Funds' net buying of PCT by quarter (13F)Funds' net buying of PCT by quarter (13F)$89.7M2024-09−$68.4M2024-12$61.7M2025-03$12.5M2025-06−$54.9M2025-09−$21.4M2025-12$19.4M2026-03$240M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PCT

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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