$PCT
PureCycle Technologies, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024055747 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $16.14M $15.96M
YoY Change 18.5% 23.36%
% of Gross Profit
Research & Development $1.565M $1.831M
YoY Change 878.13% 365.9%
% of Gross Profit
Depreciation & Amortization $7.167M $9.256M
YoY Change 79.18% 612.0%
% of Gross Profit
Operating Expenses $39.92M $38.98M
YoY Change 43.6% 78.64%
Operating Profit
YoY Change
Interest Expense $12.06M $15.05M
YoY Change -592.24% 1079.78%
% of Operating Profit
Other Income/Expense, Net -$8.290M -$46.63M
YoY Change -71.19% 1059.54%
Pretax Income -$48.21M
YoY Change -14.78%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$48.21M -$85.61M
YoY Change -14.78% 231.27%
Net Earnings / Revenue
Basic Earnings Per Share -$0.29 -$0.52
Diluted Earnings Per Share -$0.29 -$0.52
COMMON SHARES
Basic Shares Outstanding 164.6M 164.3M shares
Diluted Shares Outstanding 164.7M 164.4M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.90M $27.19M
YoY Change -62.26% -29.17%
Cash & Equivalents $10.90M $25.00M
Short-Term Investments $0.00 $2.187M
Other Short-Term Assets
YoY Change
Inventory $6.114M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $31.93M $51.17M
YoY Change -57.91% -55.03%
LONG-TERM ASSETS
Property, Plant & Equipment $646.0M $642.0M
YoY Change 2.73% 10.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $687.8M $682.8M
YoY Change -15.83% -10.35%
TOTAL ASSETS
Total Short-Term Assets $31.93M $51.17M
Total Long-Term Assets $687.8M $682.8M
Total Assets $719.8M $734.0M
YoY Change -19.4% -16.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.241M $8.363M
YoY Change -60.95% -62.96%
Accrued Expenses $30.93M $29.41M
YoY Change -12.44% -29.82%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $3.932M $3.204M
YoY Change -38.81%
Total Short-Term Liabilities $47.64M $43.57M
YoY Change -12.36% -38.29%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $2.233M $1.944M
YoY Change 82.88% 57.28%
Total Long-Term Liabilities $2.233M $1.944M
YoY Change 82.88% -99.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.64M $43.57M
Total Long-Term Liabilities $2.233M $1.944M
Total Liabilities $428.1M $397.2M
YoY Change -6.68% 2.4%
SHAREHOLDERS EQUITY
Retained Earnings -$478.1M -$429.8M
YoY Change 47.12% 60.17%
Common Stock $165.0K $165.0K
YoY Change 0.61% 0.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $291.6M $336.8M
YoY Change
Total Liabilities & Shareholders Equity $719.8M $734.0M
YoY Change -19.4% -16.15%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$48.21M -$85.61M
YoY Change -14.78% 231.27%
Depreciation, Depletion And Amortization $7.167M $9.256M
YoY Change 79.18% 612.0%
Cash From Operating Activities -$39.18M
YoY Change 165.52%
INVESTING ACTIVITIES
Capital Expenditures $14.35M
YoY Change -69.23%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $32.03M
YoY Change -39.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -255.4M
YoY Change 15550.92%
NET CHANGE
Cash From Operating Activities -39.18M
Cash From Investing Activities 32.03M
Cash From Financing Activities -255.4M
Net Change In Cash -262.6M
YoY Change -822.31%
FREE CASH FLOW
Cash From Operating Activities -$39.18M
Capital Expenditures $14.35M
Free Cash Flow -$53.53M
YoY Change -12.81%

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<p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Certain amounts in prior periods have been reclassified to conform with the report classifications of the three months ended March 31, 2024 and 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">. Specifically, the Company reclassified certain expenses between Operating costs, Research and development, and Selling, general, and administrative to more accurately reflect the activities of the business. Total operating costs and expenses did not change for prior years.</span></p>
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