Birchtech (BCHT) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenues grew 32% year-over-year to $4.24 million, driven by growth in Air and Water segments and increased product sales, while licensing revenue declined.

• Completed uplisting to NYSE American and raised $16.44 million in gross proceeds, significantly strengthening the balance sheet and investor base.

• Advanced enforcement of a $78 million patent infringement judgment, with collection efforts underway and post-judgment interest accruing, though realization remains uncertain due to appeals.

• Launched SEA-IX nuclear-grade ion exchange resin, securing $1 million in initial orders and expanding Water business offerings.

• Appointed Michael Mioska as CFO in May 2026 to support the next phase of growth.

Financial highlights

• Q1 2026 revenues rose to $4.24 million from $3.22 million in Q1 2025, primarily from Water Treatment and Air business growth.

• Gross profit increased to $1.4 million from $1.2 million year-over-year, with gross margin at approximately 32.6%.

• Net loss narrowed to $1.3 million ($0.06/share) from $1.7 million ($0.09/share) in the prior year.

• Adjusted EBITDA loss improved to $(994)K from $(1.18)M year-over-year.

• Cash balance at March 31, 2026 was $14.75 million, up from $2.25 million at year-end 2025, with no debt.

Outlook and guidance

• Plans to collect on the $78 million judgment, convert more licensed utilities to recurring product supply, and advance offtake agreements for the first carbon rejuvenation facility.

• Expects continued revenue growth in Air and Water segments as utilities transition to product supply agreements and new projects scale.

• Management expects sufficient liquidity for at least the next twelve months, supported by offering proceeds and anticipated revenues.

• Positioned to capture growth in water treatment, leveraging new laboratory investments and regulatory tailwinds.