PyroGenesis Third-Quarter Revenue of 3.07 Million Dollars Falls 5 Percent: A 39.9 Million Dollar Backlog and Nine-Month Revenue of 12.4 Million Dollars, the Best Since 2022
Plasma technology company PyroGenesis Inc. announced its results for the third quarter ended September 30, 2026 through GlobeNewswire on November 12, 2026. All figures below are from the body of the company's results release, and this report offers no investment advice.
Third-quarter revenue was 3.07 million dollars, down 5 percent year over year; the body of the release gives 3.1 million dollars against 3.2 million dollars a year earlier. The gross margin was 35 percent. The net loss was 3.2 million dollars, against a loss of 2.2 million dollars a year earlier, and the modified EBITDA loss was 1.5 million dollars, against a loss of 1.9 million dollars.
Revenue for the nine months was 12.4 million dollars, against 9.2 million dollars, an increase of 3.2 million dollars and the company's best nine-month revenue total since 2022. As of November 12, 2026, the backlog of signed and awarded contracts was 39.9 million dollars, of which 85 percent is in United States dollars.
On operations, the company completed the acquisition of a 50 percent ownership interest in HPQ Polvere during the quarter, solidifying its long-term rights in the fumed silica reactor technology, and received final acceptance certification for a coke-oven gas and hydrogen extraction system built for a global steelmaker in India, ending the one-year operational liability period. It also announced three new titanium powder clients, two of which have already placed multiple follow-up orders, plus a new plasma torch client in Europe.
President and chief executive P. Peter Pascali said in the release that the third quarter was an important quarter, with key initiatives completed, new clients brought in and recurring business driven, and that the company has already matched the full-year revenues for two of the past three years. An August contract in Europe will see the company supply two plasma torches of 300 kilowatts and 40 kilowatts to a European research institute under a 1.4 million dollar contract.
Source: PyroGenesis Inc
Published by GSM · USA (original Chinese edition)
Photo: 等离子切割炬作业特写。／A plasma cutting torch at work.（Hypertherm，Wikimedia Commons）
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