PureCycle Reports Q3 2026 Revenue Decline Amid Regulatory Delays in New Jersey
PureCycle (PCT) reported third-quarter revenue of $2.3 million, a significant sequential decline from $4.5 million in Q2. The company attributed the drop to operational challenges and regulatory setbacks in New Jersey, where an extension of food contact exemption deadlines has pushed 50 million pounds of expected annual volume out of the 2026 forecast. Despite revenue headwinds, PureFive production rose 14% sequentially to 5.2 million pounds as the Ironton facility resolved reliability issues. The company reported a net income of $6.9 million, though this was primarily driven by a $58.6 million non-cash gain on warrant fair value rather than operational profitability. Adjusted EBITDA remained negative at $28 million. Looking ahead, PureCycle is focusing on long-term feedstock security through a new agreement with WM and progressing its Thailand expansion project. While full-year project spending is expected to slightly exceed previous guidance, the company maintains strong liquidity with $393 million in total available funds.
Topics: EBITDA liquidity net income operational issues revenue decline
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