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PureCycle Technologies Reports Second Quarter 2026 Results
PureCycle Technologies (Nasdaq: PCT) reported second quarter 2026 revenue of $4.5 million, up about 173% year-over-year and marking a sixth consecutive quarter of sequential growth. Net loss was $142.2 million versus $144.2 million a year earlier, with operating loss improving to $41.3 million from $45.6 million.PCT produced 4.5 million pounds of PureFive® resin despite a planned Ironton turnaround, and commissioned on-site compounding that ran about 2.0 million pounds in Q2. Total liquidity rose to $236.9 million, driven by June offerings of $287.5 million of 4.75% convertible notes due 2032 and 19.9 million new shares, which funded repurchase of $216 million principal of 7.25% notes due 2030.Commercial progress included first Procter & Gamble resin deliveries for select Downy detergent caps, seven new customer conversions, six new partnerships, and New Jersey DEP approval of PureFive® as post-consumer recycled content. Thailand and Belgium projects advanced, with Thailand total cost still estimated around $250 million and project financing targeted to close by year-end.