PureCycle Technologies, Inc.
(NASDAQ:PCT)

PureCycle Technologies, Inc. produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. The company w...

Website: https://purecycletech.com

Founded: 2015

Full Time Employees: 119

Sector: Industrials

Industry: Pollution & Treatment Controls

Industrials

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31

revenues	4,127,000	2,695,000	2,430,000	1,650,000	1,580,000
operating expenses
cost of operations	31,394,000	26,470,000	29,570,000	29,991,000	23,282,000
research and development	1,555,000	1,544,000	1,443,000	1,397,000	1,541,000	1,496,000	1,544,000	1,565,000	1,831,000	5,876,000	178,000	160,000	393,000	247,000	254,000	250,000	339,000	310,000	330,000	224,000	547,000
selling, general and administrative	12,973,000	18,795,000	10,350,000	15,860,000	14,478,000	11,788,000	12,789,000	16,137,000	15,957,000	15,177,000	13,172,000	13,618,000	12,935,000	11,586,000	14,382,000	12,954,000	14,747,000	18,243,000	24,489,000	7,259,000	7,624,000
total operating costs and expenses	45,922,000	61,879,000	41,363,000	47,248,000	39,301,000	35,180,000	31,298,000	39,922,000	38,982,000	29,032,000	35,247,000	27,801,000	21,821,000	21,444,000	21,087,000	19,653,000	19,134,000	21,879,000	27,506,000	9,894,000	10,301,000
operating income	-41,795,000	-59,184,000	-38,933,000	-45,598,000	-37,721,000
yoy	10.80%
qoq	-29.38%	52.02%	-14.62%	20.88%
other expense	643,000	4,365,000	-203,000	-672,000	-4,569,000	-2,011,000	289,000	1,060,000	15,000	-43,000	51,000	13,000	462,000	107,000	79,000	22,000				-312,000	109,000
interest expense	15,382,000	15,507,000	16,235,000	17,640,000	15,064,000	15,174,000	14,567,000	12,055,000	15,054,000	16,485,000	10,750,000	2,449,000	-1,276,000	-1,807,000	-1,102,000	-176,000	444,000	930,000	1,843,000	6,054,000	6,089,000
interest income	-1,382,000	-2,010,000	-2,850,000	-621,000	-379,000	-664,000	-414,000	-514,000	-3,602,000	-1,269,250	-2,117,000
change in fair value of warrants	-22,997,000	-63,623,000	-23,745,000	82,295,000	-56,669,000	17,078,000	44,899,000	-4,311,000	13,944,000	-16,155,000	-48,817,000	26,313,000	4,835,000	-10,382,000	14,884,000	-4,495,000	5,835,000	-3,417,000	-8,369,000	-359,000	13,621,000
total other income	-8,354,000
net income	-33,441,000	-18,787,000	-28,370,000	-144,240,000	8,832,000	-64,678,000	-90,639,000	-48,212,000	-85,607,000	-24,183,000	4,886,000	-56,576,000	-25,842,000	-9,362,000	-34,948,000	-15,004,000	-25,432,000	-19,392,000	-20,977,000	-15,277,000	-30,120,000
yoy	-478.63%	-70.95%	-68.70%	199.18%	-110.32%	167.45%	-1955.08%	-14.78%	231.27%	158.31%	-113.98%	277.07%	1.61%	-51.72%	66.60%	-1.79%	-15.56%
qoq	78.00%	-33.78%	-80.33%	-1733.15%	-113.66%	-28.64%	88.00%	-43.68%	254.00%	-594.94%	-108.64%	118.93%	176.03%	-73.21%	132.92%	-41.00%	31.15%	-7.56%	37.31%	-49.28%
earnings per share
basic	-0.21				0.05					-0.118	0.03
diluted	-0.21				0.05					-0.12
weighted-average common shares
basic	180,478	179,327	180,069		177,308	165,377	166,513		164,355	163,865	164,018
diluted	180,478	180,448	184,551		178,506	165,377	166,513		164,355	164,013	165,548
other comprehensive income
cumulative translation adjustment	-254	-58	-20	-215	-94	133	-66	9	16
unrealized loss on debt securities available for sale	-16													396	14	-460	-340	-220	89	-106
total comprehensive income	-33,711				8,738					-19,224.5	4,879
other expense:
loss on extinguishment of debt
total other expense		-41,367,000	-10,563,000	98,642,000	-46,553,000	29,577,000	59,341,000	8,290,000	46,625,000	-5,499,000	-40,133,000	28,775,000	4,021,000	-12,082,000	13,861,000	-4,649,000	6,298,000	-2,487,000	-6,529,000	5,383,000	19,819,000
loss per share
basic		-0.13	-0.19			-0.39	-0.54		-0.52
diluted		-0.14	-0.31			-0.39	-0.54		-0.52
unrealized gain on debt securities available for sale									18	-11	-7		641
total comprehensive loss		-18,841	-28,390	-144,455		-64,545	-90,705	-48,203	-85,573			-56,576	-25,201	-8,966	-34,934	-15,464	-25,772	-19,612	-20,888	-15,383
loss per share
basic and diluted				-0.81				-0.29				-0.35	-0.16	-0.05	-0.21	-0.09	-0.19	-0.14	-0.18	-0.13	-0.59
weighted-average common shares
basic and diluted				179,666				164,691				163,739	163,588	155,957	163,490	163,249	133,244	102,913	118,255	117,346	51,223
operating expenses:
loss on debt extinguishment									21,214,000
costs and expenses
operating costs						21,896,000	16,965,000	22,220,000	21,194,000	7,979,000	21,897,000	14,023,000	8,493,000	9,611,000	6,451,000	6,449,000	4,048,000	3,326,000	2,687,000	2,411,000	2,130,000
income before income taxes						-64,757,000	-90,639,000	-48,212,000
provision for income taxes
weighted-average shares of common stock
basic	180,478	179,327	180,069		177,308	165,377	166,513		164,355	163,865	164,018
diluted	180,478	180,448	184,551		178,506	165,377	166,513		164,355	164,013	165,548
other comprehensive loss
other income																	19,000	-51,500	-3,000
other comprehensive loss:

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31

assets
current assets
cash and cash equivalents	90,213,000	156,694,000	234,359,000	284,067,000	22,482,000	15,683,000	83,673,000	10,895,000	25,021,000	73,411,000	199,349,000	28,885,000	38,381,000		56,447,000	118,499,000
debt securities available for sale	30,882,000	13,631,000							2,187,000	48,226,000	12,026,000			98,592,000	158,513,000	231,331,000	219,759,000	167,365,000	184,575,000	200,432,000
restricted cash – current	508,000	1,984,000	3,582,000	4,612,000	5,761,000	16,656,000	241,000	2,880,000	7,566,000		33,277,000	36,098,000	68,028,000	68,850,000	100,048,000	72,763,000	100,210,000	141,855,000
accounts receivable	3,825,000	2,007,000	1,595,000	2,126,000	1,494,000
inventory	12,335,000	9,370,000	10,725,000	10,760,000	8,683,000	8,087,000	6,620,000	6,114,000
prepaid expenses and other current assets	8,619,000	14,331,000	15,185,000	13,320,000	11,242,000	13,473,000	10,962,000	12,039,000	16,397,000	15,316,000	12,689,000	10,867,000	7,375,000	4,883,000	6,032,000	6,284,000	3,191,000	2,712,000	2,793,000	3,345,000	2,216,000
total current assets	146,382,000	198,017,000	265,446,000	314,885,000	49,662,000	53,899,000	101,496,000	31,928,000	51,171,000	162,645,000	257,341,000	75,850,000	113,784,000	236,217,000	321,040,000	428,877,000	521,329,000	345,349,000	224,040,000	241,480,000	259,340,000
noncurrent assets
restricted cash – noncurrent	9,395,000	9,356,000	9,312,000	9,265,000	9,219,000
operating lease right-of-use assets	66,937,000	54,226,000	54,957,000	55,966,000	56,141,000	56,833,000	27,318,000	27,245,000	28,785,000	29,799,000	30,050,000	29,891,000	18,939,000	19,136,000	19,607,000	11,846,000	13,953,000
property, plant and equipment	660,269,000	657,752,000	655,974,000	658,965,000	667,901,000	674,079,000	645,389,000	646,011,000	642,017,000	638,746,000	625,925,000	628,818,000	579,585,000	505,719,000	438,586,000	345,591,000	266,305,000	225,214,000	189,222,000	138,411,000	108,388,000
prepaid expenses and other noncurrent assets	3,024,000	3,315,000	3,434,000	3,391,000	4,415,000
total assets	886,007,000	922,666,000	989,123,000	1,042,472,000	787,338,000	798,385,000	788,777,000	719,753,000	734,015,000	1,039,373,000	1,071,833,000	893,012,000	875,431,000	861,336,000	887,087,000	886,512,000	898,774,000	664,684,000	691,948,000	685,137,000	685,263,000
liabilities, mezzanine equity, and stockholders’ equity
current liabilities
accounts payable	12,837,000	9,247,000	4,408,000	11,585,000	6,760,000	6,596,000	2,333,000	4,241,000	8,363,000	2,881,000	6,847,000	10,861,000	22,577,000	1,667,000	7,100,000	5,126,000	1,841,000	1,401,000	2,084,000	601,000	1,481,000
accrued expenses and other current liabilities	42,357,000	42,815,000	23,494,000	23,874,000
accrued interest	6,041,000	7,805,000	6,434,000	8,077,000	5,851,000	7,626,000	5,427,000	7,495,000	2,597,000	8,190,000	8,230,000	1,746,000	6,127,000	1,532,000	6,127,000	1,532,000	6,127,000	1,532,000	7,798,000	2,297,000	10,428,000
current portion of warrant liability	13,327,000	13,682,000	60,235,000	77,964,000	27,866,000	10,109,000	9,051,000
current portion of long-term debt	3,426,000	6,446,000	10,289,000	12,068,000	12,717,000	12,932,000	10,839,000	3,932,000	3,204,000	9,148,000	7,065,000	6,426,000
current portion of related party bonds payable	7,570,000	7,570,000	13,540,000	13,540,000	10,355,000	10,355,000	1,040,000	1,040,000
total current liabilities	85,558,000	87,565,000	118,400,000	147,108,000	90,610,000	90,877,000	58,283,000	47,638,000	43,570,000	55,610,000	51,966,000	54,356,000	70,606,000	38,301,000	45,797,000	33,386,000	27,298,000	38,459,000	54,267,000	43,200,000	30,626,000
noncurrent liabilities
deferred revenue	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000
long-term debt, less current portion	265,386,000	263,355,000	276,853,000	273,405,000	271,992,000	256,886,000	255,031,000	246,610,000	242,937,000	467,708,000	468,317,000	247,370,000
related party bonds payable, less current portion	87,886,000	86,343,000	78,405,000	76,542,000
warrant liability, less current portion	22,507,000	45,149,000	62,258,000	68,810,000
operating lease right-of-use liabilities	64,635,000	52,350,000	53,055,000	53,939,000	53,993,000	54,665,000	25,462,000	25,448,000	26,270,000	27,253,000	27,556,000	27,371,000	16,522,000	16,620,000	17,126,000	11,656,000	13,561,000
series a preferred stock liability	33,308,000	29,606,000	26,259,000
other noncurrent liabilities	4,299,000	2,710,000	1,370,000	1,417,000	1,615,000
total liabilities	568,579,000	572,078,000	621,600,000	649,543,000	549,125,000	617,936,000	547,361,000	428,142,000	397,176,000	619,137,000	630,267,000	458,792,000	387,860,000	350,453,000	368,550,000	335,545,000	335,593,000	283,149,000	361,813,000	358,339,000	343,917,000
commitments and contingencies
mezzanine equity
series b convertible perpetual preferred stock - 0.001 par value...	310,004,000	304,701,000	299,304,000	294,058,000
stockholders' equity
common stock - 0.001 par value...	181,000	180,000	180,000	180,000			173,000
additional paid-in capital	857,200,000	861,953,000	865,444,000	867,706,000	862,593,000	813,573,000	809,996,000	769,494,000	766,519,000	764,344,000	761,466,000	758,999,000	755,774,000	753,885,000	752,559,000	750,056,000	746,806,000	539,423,000	468,421,000		455,475,000
accumulated other comprehensive loss	-575,000									-32,000	-7,000			-641,000	-1,023,000	-1,037,000	-577,000	-237,000	-17,000
accumulated deficit	-849,382,000	-815,941,000	-797,154,000	-768,784,000	-624,544,000	-633,376,000	-568,698,000	-478,059,000	-429,847,000	-344,240,000	-320,057,000	-324,943,000	-268,367,000	-242,525,000	-233,163,000	-198,215,000	-183,211,000	-157,779,000	-138,387,000		-114,246,000
total stockholders' equity	7,424,000	45,887,000	68,219,000	98,871,000	238,213,000	180,449,000	241,416,000	291,611,000	336,839,000	420,236,000	441,566,000	434,220,000	487,571,000	510,883,000	518,537,000	550,967,000	563,181,000	381,535,000	330,135,000
total liabilities, mezzanine equity, and stockholders’ equity	886,007,000	922,666,000	989,123,000	1,042,472,000
accumulated other comprehensive income		-305,000	-251,000	-231,000	-16,000	78,000	-55,000	11,000	2,000
preferred stock liability				23,322,000	20,739,000	18,433,000	15,270,000
liabilities and stockholders’ equity
accrued expenses					27,061,000	43,259,000	29,593,000	30,930,000	29,406,000	35,391,000	29,824,000	35,323,000	41,902,000	35,102,000	32,570,000	26,728,000	19,330,000	35,526,000	44,385,000	40,266,000	18,452,000
related party bonds payable					68,325,000	66,471,000	74,427,000	62,719,000
warrant liability					36,851,000	120,090,000	104,392,000	38,494,000	36,003,000	22,059,000	38,214,000	87,031,000	60,718,000	55,883,000	66,265,000	51,381,000	55,876,000	6,113,000	9,530,000	17,899,000	18,258,000
commitment and contingencies
common shares - 0.001 par value...					180,000	174,000		165,000	165,000	164,000	164,000	164,000	164,000	164,000	164,000	163,000	163,000	128,000	118,000	117,000	117,000
preferred shares - 0.001 par value...
total liabilities and stockholders’ equity					787,338,000	798,385,000	788,777,000	719,753,000	734,015,000	1,039,373,000	1,071,833,000	893,012,000	875,431,000	861,336,000	887,087,000	886,512,000	898,774,000	664,684,000	691,948,000
restricted cash – non-current						9,172,000	9,739,000	9,680,000	7,353,000		151,513,000	151,345,000	157,466,000	94,781,000	101,023,000	93,788,000	91,663,000	88,586,000
prepaid expenses and other non-current assets						4,402,000	4,835,000	4,889,000	4,689,000	4,772,000	7,004,000	7,108,000	5,657,000	5,483,000	6,831,000	6,410,000	5,524,000	5,535,000	5,807,000
non-current liabilities
related party note payable									41,452,000	39,696,000	38,029,000	36,443,000
other non-current liabilities						5,514,000	2,163,000	2,233,000	1,944,000	1,811,000	1,185,000	1,221,000	1,236,000	1,136,000	1,108,000	1,122,000	1,106,000	1,069,000	1,076,000
put option liability							7,333,000
preferred stock - 0.001 par value...
restricted cash and cash equivalents – current										25,692,000
restricted cash and cash equivalents – non-current										203,411,000
bonds payable													233,778,000		233,254,000	233,000,000	232,752,000		232,270,000	232,037,000	231,809,000
cash														63,892,000			198,169,000	33,417,000	36,672,000	37,703,000	252,549,000
bonds payable – non-current														233,513,000				232,508,000
notes payable – current																				36,000	265,000
notes payable – non-current
class a units - no par value; 0 and 3,981 units authorized; 0 and 3,612 units issued and outstanding as of december 31, 2021 and december 31, 2020
class b preferred units - no par value; 0 and 1,938 units authorized; 0 and 1,938 units issued and outstanding as of december 31, 2021 and december 31, 2020
class b-1 preferred units - no par value; 0 and 1,146 units authorized, 0 and 1,105 units issued and outstanding as of december 31, 2021 and december 31, 2020
class c units – no par value; 0 and 1,069 units authorized, 0 and 865 units issued and 0 and 775 units outstanding as of december 31, 2021 and december 31, 2020
restricted cash																			272,879,000	300,871,000	317,535,000
notes payable																			59,670,000	59,203,000	57,224,000
class a units - no par value; 0 and 3,981 units authorized; 0 and 3,612 units issued and outstanding as of september 30, 2021 and december 31, 2020
class b preferred units - no par value; 0 and 1,938 units authorized; 0 and 1,938 units issued and outstanding as of september 30, 2021 and december 31, 2020
class b-1 preferred units - no par value; 0 and 1,146 units authorized, 0 and 1,105 units issued and outstanding as of september 30, 2021 and december 31, 2020
class c units – no par value; 0 and 1,069 units authorized, 0 and 865 units issued and 0 and 775 units outstanding as of september 30, 2021 and december 31, 2020
prepaid royalties and licenses																				4,375,000	4,575,000
deferred research and development obligation																				1,000,000	1,000,000
class a units - no par value; 0 and 3,981 units authorized; 0 and 3,612 units issued and outstanding as of june 30, 2021 and december 31, 2020
class b preferred units - no par value; 0 and 1,938 units authorized; 0 and 1,938 units issued and outstanding as of june 30, 2021 and december 31, 2020
class b-1 preferred units - no par value; 0 and 1,146 units authorized, 0 and 1,105 units issued and outstanding as of june 30, 2021 and december 31, 2020
class a units - no par value; 0 and 3,981 units authorized; 0 and 3,612 units issued and outstanding as of march 31, 2021 and december 31, 2020
class b preferred units - no par value; 0 and 1,938 units authorized; 0 and 1,938 units issued and outstanding as of march 31, 2021 and december 31, 2020
class b-1 preferred units - no par value; 0 and 1,146 units authorized, 0 and 1,105 units issued and outstanding as of march 31, 2021 and december 31, 2020
class c units – no par value; 0 and 1,069 units authorized, 0 and 865 units issued and 0 and 775 units outstanding as of march 31, 2021 and december 31, 2020

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31

cash flows from operating activities
net income	-33,441,000				8,832,000
adjustments to reconcile net income to net cash from operating activities
equity-based compensation	2,544,000	2,267,000	2,903,000	6,411,000	3,354,000	3,016,000	2,883,000	3,072,000	2,682,000	3,126,000	3,285,000	3,252,000	2,166,000	1,392,000	3,010,000	3,267,000	3,171,000	7,883,000	13,611,000	835,000	307,000
change in fair value of warrants	-22,997,000	-63,623,000	-23,745,000	82,295,000	-56,669,000	17,078,000	44,899,000	-4,311,000	13,944,000
change in fair value of put option	1,563,000
depreciation expense	7,379,000	7,245,000	7,262,000	7,263,000	7,350,000	7,467,000	7,430,000	7,167,000	9,256,000	1,317,000	9,312,000	4,012,000	1,294,000	1,030,000	890,000	875,000	818,000	774,000	522,000	495,000	490,000
amortization of debt issuance costs and debt discounts	6,572,000	6,427,000	6,188,000	7,420,000	3,727,000	6,113,000	4,640,000	3,327,000	2,538,000		1,183,000	392,000	265,000		254,000	248,000	244,000
operating lease amortization expense	1,169,000	1,148,000	1,147,000	1,132,000	1,119,000	1,107,000	752,000	762,000	767,000	752,000	712,000	533,000	926,000	632,000	433,000	244,000	287,000
changes in operating assets and liabilities
accounts receivable	-1,818,000	-412,000	531,000	-632,000	-1,494,000
inventory	1,489,000	1,355,000	35,000	-2,077,000	-596,000	-1,466,000	-506,000
prepaid expenses and other current assets	701,000	1,547,000	-2,257,000	-1,394,000	1,872,000	-2,873,000	736,000	-743,000	-340,000	-2,916,000	-1,169,000	-3,640,000	-1,148,000	1,149,000	252,000	-3,093,000	-479,000	82,000	552,000	-1,129,000	-1,770,000
prepaid expenses and other noncurrent assets	291,000	-1,241,000	-43,000	1,024,000	-13,000
accounts payable	-2,280,000	4,599,000	-239,000	5,023,000	-6,846,000	4,102,000	-579,000	58,000	1,196,000	-1,109,000	-845,000	1,154,000	1,218,000	-742,000	-267,000	347,000	747,000	106,000	326,000	-1,148,000	423,000
accrued expenses and other current liabilities	-2,218,000	8,852,000	-1,196,000
accrued interest	-689,000	2,465,000	-616,000	1,905,000	531,000	2,198,000	-2,330,000	3,147,000	-4,151,000	1,340,000	7,807,000	1,736,000	324,000				324,000	-18,000	4,070,000	-6,504,000	5,253,000
operating lease right-of-use liabilities	-919,000	-987,000	-1,000,000
net cash from operating activities	-42,654,000	-28,688,000	-38,462,000	-36,722,000	-38,868,000	-31,841,000	-33,377,000	-40,430,000	-39,178,000	-33,576,000	-20,906,000	-25,669,000	-14,755,000	-15,314,000	-15,074,000	-18,166,000	-16,924,000	-12,549,000	1,024,000	-22,414,000	-20,568,000
capital expenditures	27,338,000	-2,559,000	-3,895,000	-15,432,000	5,093,000	-7,156,000	-11,778,000	-9,876,000		0	-30,438,000	-18,699,000	55,589,000	1,877,000	0	11,079,000	18,518,000	4,497,000	-1,104,000	10,020,000	16,661,000
free cash flows	-15,316,000	-31,247,000	-42,357,000	-52,154,000	-33,775,000	-38,997,000	-45,155,000	-50,306,000		-33,576,000	-51,344,000	-44,368,000	40,834,000	-13,437,000	-15,074,000	-7,087,000	1,594,000	-8,052,000	-80,000	-12,394,000	-3,907,000
cash flows from investing activities
purchase of property, plant and equipment	-3,432,000	-13,343,000	-3,895,000	-8,605,000	-15,004,000
purchase of debt securities, available for sale	-31,668,000					0	0	0	-30,586,000	-45,555,000				0	-14,633,000	-79,685,000	-98,070,000	0	-28,480,000
sale and maturity of debt securities, available for sale	14,450,000					0	0	2,200,000	76,961,000		0	0	99,371,000		87,721,000	67,779,000	45,189,000
net cash from investing activities	-20,650,000	-26,964,000	-3,895,000	-8,605,000	-15,004,000	-21,595,000	-9,271,000	-8,170,000	32,027,000	-46,774,000	-30,461,000	-77,607,000	52,739,000	-14,593,000	-11,940,000	-86,796,000	-105,058,000	-32,436,000	-30,207,000	-209,041,000	-33,891,000
cash flows from financing activities
proceeds from issuance of common stock		0	155,000	155,000	33,152,000	93,000								-1,000	1,000	0	206,071,000
proceeds from issuance of revenue bonds to third parties		0	0
proceeds from exercise and issuance of warrants	230,000
payments on equipment financing	-1,136,000		-3,366,000			-2,383,000	-1,501,000
payments to repurchase shares	-2,223,000	-401,000	-1,727,000	-1,103,000	-1,697,000	-440,000	-483,000	-97,000	-598,000	-248,000	-818,000	-27,000	-277,000	-67,000	-506,000	-17,000	-1,049,000
other financing activities	-1,485,000
net cash from financing activities	-4,614,000	-23,567,000	-8,334,000	305,809,000	49,823,000	1,294,000	112,846,000	32,115,000	-255,423,000	-1,275,000	219,178,000	55,729,000	-1,632,000	-88,000	-518,000	-30,000	248,166,000	-708,000	160,000	-55,000	293,969,000
net decrease in cash and restricted cash	-67,918,000				-4,049,000
cash and cash equivalents and restricted cash, beginning of period	168,034,000	0	0
cash and cash equivalents and restricted cash, end of period	100,116,000	-79,219,000	-50,691,000
supplemental disclosure of cash flow information
operating activities
interest paid during the period, net of capitalized interest	9,373,000				10,837,000	8,567,000	12,139,000	5,264,000	16,383,000	11,126,000	2,086,000			650,000	0			650,000	-11,103,000
non-cash investing activities
additions to property, plant, and equipment in accounts payable and accrued expenses	30,770,000	10,784,000
non-cash financing activities
pik dividends on series b convertible perpetual preferred stock	5,313,000	5,397,000	5,344,000
pik interest on series a preferred stock	1,075,000	1,094,000	1,020,000
reconciliation of cash and cash equivalents and restricted cash reported in the consolidated balance sheets
cash and cash equivalents	90,213,000	-77,665,000	-49,708,000	261,585,000	22,482,000	-67,990,000	72,778,000	-14,126,000	25,021,000
restricted cash - current	508,000	-1,598,000	-1,030,000
restricted cash - noncurrent	9,395,000	44,000	47,000
total cash and cash equivalents and restricted cash	100,116,000	-79,219,000	-50,691,000
net loss		-18,787,000	-28,370,000			-64,678,000	-90,639,000	-48,212,000	-85,607,000	-24,183,000	4,886,000	-56,576,000	-25,842,000	-9,362,000	-34,948,000	-15,004,000	-25,432,000	-19,392,000	-12,713,000	-15,277,000	-30,120,000
adjustments to reconcile net loss to net cash from operating activities
loss on disposal of equipment		167,000	0
write-down of long-lead equipment
loss on extinguishment of debt						0	0	0	21,214,000
change in fair value of derivative		0	0	-297,000	-3,146,000
deferred taxes
other		-144,000
proceeds from issuance of series b convertible perpetual preferred stock		0	0
proceeds from issuance of series a preferred shares, inclusive of put option
proceeds from issuance of revenue bonds to related parties		10,032,000	0			0	10,000,000
payments on related party revenue bonds		-9,820,000	0			-505,000	0
payment to purchase revenue bonds						0	0	0	-253,230,000
proceeds from revolving credit facility and related party note payable		0	0
payments on revolving credit facility and related party note payable		0	0
proceeds from issuance and exercise of warrants
proceeds from equipment lease financing						3,396,000	7,536,000			0	2,354,000
payments on equipment lease financing
debt and preferred stock issuance costs
proceeds from convertible note offering
other net payments for financing activities
net increase in cash and cash equivalents and restricted cash
carrying value of warrant liability issued to satisfy shareholder loan prepayment penalty
initial fair value of warrant liability issued to satisfy shareholder loan prepayment penalty						0	2,819,000
pik interest on related party note payable						0	0	497,000	1,441,000		1,323,000
accretion of discount on debt securities						0	0	-12,000	-318,000
impairment of operating right-of-use asset						0	0
other noncurrent liabilities
preferred stock and debt issuance costs
net increase in cash and restricted cash			-50,691,000			-52,142,000			-262,574,000	-81,625,000	167,811,000	-47,547,000	36,352,000			-104,992,000	126,184,000
interest paid during the period			10,473,000
carrying value of shareholder loan exchanged for revenue bonds payable to related parties							0
reconciliation of cash and cash equivalents and restricted cash reported in the consolidated balance sheet
proceeds from exercise of warrants				0	5,400,000
other proceeds for other borrowings
additions to property, plant, and equipment in accrued expenses				-459,000	12,386,000	14,041,000	-1,069,000	4,658,000	15,656,000		-8,828,000	-5,829,000	30,809,000	4,327,000	0	8,141,000	13,918,000	4,497,000	-1,104,000	9,967,000	16,437,000
additions to property, plant, and equipment in accounts payable				-6,368,000	7,711,000	398,000	-1,438,000	-4,164,000	5,903,000		-3,169,000	-12,870,000	20,509,000	-2,450,000	0	2,938,000	329,000
series b convertible perpetual preferred stock issuance costs accrued but not yet paid
accrued expenses					4,014,000	-996,000	-328,000	-3,265,000	214,000	-330,000	3,200,000	-941,000	2,116,000	710,000	2,140,000	854,000	-2,503,000	234,000	3,528,000	-45,000	-13,037,000
operating right-of-use liabilities					-903,000	-791,000	-751,000	-720,000	-656,000	-699,000	-552,000	-452,000	-597,000	-826,000	-1,370,000	-73,000	-93,000
proceeds from bond issuance					16,368,000
debt issuance costs						0	0	0	-1,119,000	-601,000	-653,000	148,000	-1,344,000
other payments for financing activities					-3,400,000	-1,675,000	-904,000	119,000	-476,000		-207,000	-39,000	-11,000
cash and restricted cash, beginning of period					41,511,000	0	0	0	302,514,000	0	0	0	227,523,000	0	0	0	263,858,000	0	0
cash and restricted cash, end of period					37,462,000	-52,142,000	70,198,000	-16,485,000	39,940,000	-81,625,000	167,811,000	-47,547,000	263,875,000	-29,995,000	-27,532,000	-104,992,000	390,042,000	-45,693,000	-29,023,000
reconciliation of cash, cash equivalents reported in the consolidated balance sheet
restricted cash and cash equivalents - current					5,761,000	16,415,000	-2,639,000	-4,686,000	7,566,000
restricted cash and cash equivalents - noncurrent					9,219,000
total cash, cash equivalents and restricted cash					37,462,000	-52,142,000	70,198,000	-16,485,000	39,940,000
change in fair value of put option liability						-2,289,000
prepaid expenses and other non-current assets						283,000	54,000	-200,000	83,000	2,234,000	102,000	-1,451,000	-174,000	1,348,000	-421,000	-886,000	11,000	272,000
purchase of property, plant & equipment						-21,595,000	-9,271,000	-10,370,000	-14,348,000		-18,441,000
proceeds from issuance of revenue bonds						0
proceeds from issuance of warrants						0								0	0	0	43,929,000
proceeds from issuance of preferred shares, inclusive of put option						0
proceeds from other borrowings						2,808,000	198,000
proceeds from related party note payable										0	0
convertible note payable issuance costs
related party note payable issuance costs										0	0
common stock issuance costs														0	0	0	-775,000
additions to property, plant, and equipment in accrued interest													4,271,000				4,271,000			53,000	224,000
restricted cash and cash equivalents - non-current						-567,000	59,000	2,327,000	7,353,000
other non-current liabilities							-33,000
non-cash operating activities
fair value change of warrants										-16,155,000	-48,817,000	26,313,000	4,835,000	-10,382,000	14,884,000	-4,495,000	5,835,000	-3,417,000	-8,369,000	-359,000	13,621,000
amortization of debt instrument discounts and debt issuance costs
amortization of (discount) premium on debt securities												-1,000	-138,000	-197,000
deferred revenue																		0	0	0	5,000,000
purchase of property, plant, and equipment
maturity of debt securities, available for sale
sale of debt securities, available for sale
proceeds from issuance of convertible notes										0
convertible notes issuance costs										0								0	0	0	-480,000
other proceeds for financing activities
proceeds from roch and pipe financing, net of issuance costs																		0	0	0	298,461,000
construction of plant													-46,632,000		-85,028,000	-74,890,000	-52,177,000	-49,235,000	-45,924,000	-8,338,000	-33,891,000
non-cash issuance of shares
accretion of debt instrument discounts																		56,000	55,000	55,000	57,000
amortization of debt issuance costs																		349,000	644,000	612,000	784,000
issuance costs attributable to warrants																		0	0	0	109,000
gain on extinguishment of secured term loan																		0	0
amortization of beneficial conversion feature
loss on exercise of warrants
other proceeds from financing activities														-20,000	-13,000	-13,000	-10,000
bond issuance costs																		0	0	0	-4,067,000
payments on promissory notes																		0	-36,000
issuance of bonds
issuance of convertible notes
payments on promissory note from related parties
payments on advances from related parties
initial fair value of acquired warrant liability																					4,604,000
share repurchase — additions to accrued expense
pik interest on convertible notes
amortization of premium on debt securities																-126,000	146,000	189,000	230,000
proceeds from secured term loan
proceeds from promissory note																		0	0	0	91,000
payments on capital leases
proceeds from issuance of shares
payments on redemption of vested legacy pct profit interests																		0	0	0	-36,000
proceeds for exercise of warrants
proceeds from issuance of units
prepaid royalties and licenses																				200,000	-1,685,000
net increase in cash																					239,510,000
cash, beginning of period																					330,574,000
cash, end of period																					570,084,000
conversion of accounts payable to promissory notes

PureCycle Technologies, Inc.(NASDAQ:PCT)

PureCycle Technologies, Inc.
(NASDAQ:PCT)