Pryme (PRYME) Q1 2026 earnings summary

Executive summary

• Operations at Pryme One were terminated at the end of March 2026 after recurring technical issues and a financial assessment showed reliable production would require significant additional time and capital.

• The company shifted focus to an orderly wind-down, cost reduction, and evaluation of strategic alternatives for remaining assets, including potential third-party transactions.

• Significant workforce reductions and asset sale preparations were implemented, with less than a quarter of employees retained.

Financial highlights

• Q1 2026 net loss was €3.2 million, compared to a net loss of €26.9 million for full year 2025.

• No revenues were recorded in Q1 2026; 248 tons of pyrolysis oil produced but not sold.

• Cash and cash equivalents decreased to €4.76 million at quarter-end from €6.63 million at year-end 2025.

• Cash burn rate in Q1 2026 was approximately €3.2 million; expected to drop significantly post-termination of operations.

• Subsequent offering raised approx. €0.5 million in February 2026.

Outlook and guidance

• 2026 is a transition year focused on asset monetization, cost discipline, and exploring strategic alternatives for remaining assets.

• Asset sale process for Pryme One and R&D assets to be launched in Q2 2026, targeting completion by Q4 2026.

• Material risk exists that no value will be realized from remaining assets, potentially leading to insolvency.