Birchtech Corp. (BCHT) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BCHT SEC filings page.
Birchtech Corp. (BCHT) reported $19.2M in revenue over the twelve months to Jun 30, 2026, up 11.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Birchtech’s dominant mechanic is margin recovery through lower overhead, not revenue growth, while financing pressure remains visible on the balance sheet.
Revenue was nearly flat between FY2024 and FY2025, while gross margin widened from40.8% to41.9% . SG&A fell from$14.2M to$8.6M , tying the improvement primarily to overhead reduction rather than expanding demand.
FY2025 current liabilities were
FY2023 paired net income of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Birchtech Corp.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Birchtech Corp. held $2.2M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $700K of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Birchtech Corp. scores 62/100 among other emerging companies.
Birchtech Corp. had 26M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Birchtech Corp. scores 85/100 among other emerging companies.
Birchtech Corp. spent $1.8M on research and development in fiscal year 2025, which was 8.7% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Birchtech Corp. scores 33/100 among other emerging companies.
Birchtech Corp. reported revenue of $17.6M in fiscal year 2025, against $17.4M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Birchtech Corp. scores 44/100 among other emerging companies.
Not available for Birchtech Corp., and counted as zero in the overall score.
Birchtech Corp.'s cash, cash equivalents and investments came to $2.2M at the end of fiscal year 2025, against $11.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Birchtech Corp. scores 27/100 among other emerging companies.
Birchtech Corp. scores -9.07, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($42.6M) relative to total liabilities ($11.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Birchtech Corp. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Birchtech Corp. reported a net loss of $3.0M while operations used $700K of cash. With neither figure positive, the ratio between the two carries no quality signal.
Birchtech Corp. reported an operating loss of $3.0M against $14K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Birchtech Corp. generated $3.8M in revenue in Q2 2026. This represents an increase of 16.5% from the same quarter a year earlier. Against the prior quarter it is down 10.6%.
Birchtech Corp.'s EBITDA was -$1.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 39.7% from the same quarter a year earlier. Against the prior quarter it is down 44.6%.
Birchtech Corp. reported -$3.0M in net income in Q2 2026. This represents a decrease of 95.7% from the same quarter a year earlier. Against the prior quarter it is down 124.3%.
Birchtech Corp. earned -$0.11 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 83.3%.
Cash & Balance Sheet
Birchtech Corp. recorded an outflow of $2.9M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 68.0% from the same quarter a year earlier. Against the prior quarter it is down 32.0%.
Birchtech Corp. held $11.8M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Birchtech Corp.'s gross margin was 27.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.4 percentage points.
Birchtech Corp.'s operating margin was -42.8% in Q2 2026, reflecting core business profitability. This is down 6.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 15.7 percentage points.
Birchtech Corp.'s net profit margin was -79.6% in Q2 2026, showing the share of revenue converted to profit. This is down 32.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 47.9 percentage points.
Birchtech Corp.'s ROE was -37.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is down 25.0 percentage points.
Capital Allocation
Birchtech Corp. invested $587K in research and development in Q2 2026. This represents an increase of 29.0% from the same quarter a year earlier. Against the prior quarter it is up 6.7%.
Birchtech Corp. invested $122K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 5682.7% from the same quarter a year earlier.
Not reported for Q2 2026.
BCHT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.8M+16.5% | $4.2M+31.6% | $3.8M-31.9% | $7.4M+40.6% | $3.3M-3.2% | $3.2M-0.6% | $5.6M+48.3% | $5.2M-22.4% |
| Cost of Revenue | $2.8M+20.7% | $2.9M+43.8% | $2.6M+16.6% | $3.3M-8.6% | $2.3M-0.7% | $2.0M-6.0% | $2.2M-26.4% | $3.6M-18.6% |
| Gross Profit | $1.0M+6.7% | $1.4M+12.0% | $1.2M-64.8% | $4.0M+152.8% | $968K-8.7% | $1.2M+9.4% | $3.3M+374.2% | $1.6M-29.9% |
| R&D Expenses | $587K+29.0% | $551K+35.4% | $470K | $473K | $455K | $407K | $0 | $0 |
| SG&A Expenses | $2.1M+21.8% | $2.0M-8.7% | $2.0M-41.5% | $2.7M+1.7% | $1.7M-63.4% | $2.2M-38.5% | $3.4M-58.4% | $2.7M+9.9% |
| Operating Income | -$1.6M-36.9% | -$1.1M+14.4% | -$1.3M-1565.3% | $811K+173.2% | -$1.2M+66.8% | -$1.3M+44.0% | -$79K+99.0% | -$1.1M-502.6% |
| EBITDA | -$1.5M-39.7% | -$1.1M+17.6% | -$1.2M-586.1% | $905K+186.2% | -$1.1M+69.0% | -$1.3M+46.6% | -$178K+97.7% | -$1.0M-758.7% |
| Interest Expense | $0 | $0-100.0% | $14K+60.8% | $0-100.0% | $0-100.0% | $54-100.0% | $8K-97.5% | $7K-97.9% |
| Income Tax | $3K+733.5% | $357-97.5% | $55K+1067.3% | $629+100.2% | $409+18.2% | $14K | $5K-99.0% | -$294K |
| Net Income | -$3.0M-95.7% | -$1.3M+19.9% | -$593K+55.8% | $788K+272.2% | -$1.5M+74.9% | -$1.7M+41.2% | -$1.3M-115.4% | -$458K+44.7% |
| EPS (Basic) | N/A | N/A | N/A | $0.01 | N/A | N/A | -$0.01-111.1% | $0.00+100.0% |
| EPS (Diluted) | -$0.11 | -$0.06 | -$0.13 | $0.01 | -$0.08 | -$0.09 | -$0.47 | $0.00+100.0% |
| Diluted Shares (Avg) | 26M | 22M | N/A | 98M+2.0% | 19M | 19M | N/A | 96M+2.0% |
BCHT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $19.4M+126.4% | $21.4M+130.0% | $9.2M-10.0% | $10.1M-13.0% | $8.6M-41.9% | $9.3M-45.6% | $10.3M-63.8% | $11.7M+20.4% |
| Current Assets | $15.8M+244.6% | $17.7M+241.4% | $5.0M-18.0% | $6.0M-20.6% | $4.6M-59.6% | $5.2M-62.0% | $6.1M-75.6% | $7.6M+25.0% |
| Cash & Equivalents | $11.8M+714.0% | $14.7M+362.7% | $2.2M-35.0% | $1.8M-59.8% | $1.5M-82.8% | $3.2M-71.5% | $3.5M-83.5% | $4.4M+76.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $456K-45.1% | $594K+0.3% | $448K-27.9% | $498K-43.8% | $831K-13.9% | $592K-15.1% | $622K-21.8% | $886K+10.6% |
| Accounts Receivable | $2.6M+21.9% | $2.2M+75.2% | $2.1M+15.2% | $3.6M+88.1% | $2.2M+21.1% | $1.3M-23.4% | $1.8M-40.7% | $1.9M-24.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $11.3M+7.0% | $10.2M+5.1% | $11.0M+20.8% | $11.3M+15.8% | $10.5M-15.9% | $9.7M+10.2% | $9.1M-67.9% | $9.7M-50.1% |
| Current Liabilities | $11.1M+7.7% | $10.0M+5.8% | $10.7M+22.0% | $11.1M+177.3% | $10.3M+58.3% | $9.5M+74.4% | $8.8M+303.3% | $4.0M-9.5% |
| Non-Current Liabilities | $184K-23.2% | $198K-21.3% | $212K-19.4% | $226K-96.1% | $239K-96.0% | $252K-92.6% | $263K-99.0% | $5.8M-62.0% |
| Total Equity | $8.2M+518.2% | $11.2M+2716.6% | -$1.7M-243.9% | -$1.1M-145.9% | -$1.9M-169.8% | -$427K-104.8% | $1.2M+1874.8% | $2.5M+125.2% |
| Retained Earnings | -$80.1M-5.5% | -$77.1M-3.6% | -$75.8M-4.2% | -$75.2M-4.5% | -$76.0M-6.2% | -$74.4M-13.9% | -$72.8M-17.4% | -$72.0M-0.3% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
BCHT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.8M-61.1% | -$2.2M-767.7% | $964K+216.1% | $321K+311.1% | -$1.7M+35.5% | -$254K+42.1% | -$830K-104.5% | -$152K-127.5% |
| Depreciation & Amortization | $96K+3.9% | $94K+52.4% | $94K+195.6% | $94K+62.8% | $92K+76.9% | $61K+11385.6% | -$99K+2.1% | $58K-6.2% |
| Stock-Based Compensation | $0-100.0% | $427-99.3% | N/A | $20K-85.3% | $19K-85.8% | $61K-92.1% | N/A | $133K |
| Capital Expenditures | $122K+5682.7% | $0-100.0% | $6K-94.5% | $7K-98.9% | $2K-96.8% | $14K | $107K+3818.6% | $636K+23094.1% |
| Free Cash Flow | -$2.9M-68.0% | -$2.2M-722.0% | $958K+202.2% | $314K+139.9% | -$1.7M+37.0% | -$268K+38.9% | -$938K-105.1% | -$788K-243.0% |
| Investing Cash Flow | -$122K-5682.7% | $0+100.0% | -$6K+94.5% | -$7K+98.9% | -$2K+96.8% | -$14K | -$107K-4018.6% | -$636K-23094.1% |
| Financing Cash Flow | $0 | $14.7M | -$481K | $0+100.0% | $0 | $0+100.0% | $0 | -$3.3M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BCHT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.2%-2.5pp | 32.6%-5.7pp | 30.8%-28.8pp | 54.8%+24.3pp | 29.8%-1.8pp | 38.3%+3.5pp | 59.6%+41.0pp | 30.4%-3.3pp |
| Operating Margin | -42.8%-6.4pp | -27.1%+14.6pp | -34.6%-33.2pp | 11.0%+32.2pp | -36.4% | -41.7%+32.3pp | -1.4% | -21.1%-18.4pp |
| Net Margin | -79.6%-32.2pp | -31.7%+20.4pp | -15.7%+8.5pp | 10.7%+19.4pp | -47.4% | -52.1%+35.9pp | -24.1% | -8.7%+3.5pp |
| Return on Equity | -37.0% | -12.0% | N/A | N/A | N/A | N/A | -112.7%-14539.7pp | -18.4% |
| Return on Assets | -15.5%+2.4pp | -6.3%+11.8pp | -6.4%+6.7pp | 7.8%+11.7pp | -18.0%+23.7pp | -18.1%-1.3pp | -13.1%-43.9pp | -3.9%+4.6pp |
| Current Ratio | 1.42+1.0x | 1.77+1.2x | 0.47-0.2x | 0.55-1.4x | 0.44-1.3x | 0.55-2.0x | 0.69-10.8x | 1.90+0.5x |
| Debt-to-Equity | 1.38 | 0.92 | N/A | N/A | N/A | N/A | 7.61-460.5x | 3.92 |
| Asset Turnover | 0.20-0.2x | 0.20-0.1x | 0.41-0.1x | 0.73+0.3x | 0.38+0.2x | 0.35+0.2x | 0.54+0.4x | 0.45-0.2x |
| FCF Margin | -76.8%-23.5pp | -52.0%-43.7pp | 25.3%+42.1pp | 4.3%+19.3pp | -53.3%+28.5pp | -8.3%+5.2pp | -16.9% | -15.0%-23.2pp |
Note: Shareholder equity is negative (-$1.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.47), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Birchtech Corp. BCHT | FY2025 | $17.6M | -$3.0M | -17.2% | $42.6M | 42/100 |
| PACIFIC GREEN TECHS PGTK | FY2024 | $14.5M | $459K | 3.2% | $57K | — |
Where Birchtech Corp. Ranks
Frequently Asked Questions
What is Birchtech Corp.'s annual revenue?
Birchtech Corp. (BCHT) reported $17.6M in total revenue for fiscal year 2025. This represents a 1.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Birchtech Corp.'s revenue growing?
Birchtech Corp. (BCHT) revenue grew by 1.3% year-over-year, from $17.4M to $17.6M in fiscal year 2025.
Is Birchtech Corp. profitable?
No, Birchtech Corp. (BCHT) reported a net income of -$3.0M in fiscal year 2025, with a net profit margin of -17.2%.
What is Birchtech Corp.'s EBITDA?
Birchtech Corp. (BCHT) had EBITDA of -$2.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Birchtech Corp.'s gross margin?
Birchtech Corp. (BCHT) had a gross margin of 42.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Birchtech Corp.'s operating margin?
Birchtech Corp. (BCHT) had an operating margin of -17.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Birchtech Corp.'s net profit margin?
Birchtech Corp. (BCHT) had a net profit margin of -17.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Birchtech Corp.'s free cash flow?
Birchtech Corp. (BCHT) recorded an outflow of $729K in free cash flow during fiscal year 2025. This represents a 85.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Birchtech Corp.'s operating cash flow?
Birchtech Corp. (BCHT) recorded an outflow of $700K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Birchtech Corp.'s total assets?
Birchtech Corp. (BCHT) had $9.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Birchtech Corp.'s capital expenditures?
Birchtech Corp. (BCHT) invested $29K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Birchtech Corp. spend on research and development?
Birchtech Corp. (BCHT) invested $1.8M in research and development during fiscal year 2025.
What is Birchtech Corp.'s current ratio?
Birchtech Corp. (BCHT) had a current ratio of 0.47 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Birchtech Corp.'s return on assets (ROA)?
Birchtech Corp. (BCHT) had a return on assets of -32.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Birchtech Corp.'s P/E ratio?
Birchtech Corp. (BCHT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $42.6M as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Birchtech Corp.'s price-to-sales ratio?
Birchtech Corp. (BCHT) trades at 2.2x sales, its market capitalization divided by revenue of $19.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $42.6M as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Birchtech Corp.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Birchtech Corp. (BCHT) held $2.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $700K over that year. Dividing the one by the other, the reported balance equals about 38 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Birchtech Corp.'s debt-to-equity ratio negative or not reported?
Birchtech Corp. (BCHT) has negative shareholder equity of -$1.7M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Birchtech Corp.'s Altman Z-Score?
Birchtech Corp. (BCHT) has an Altman Z-Score of -9.07, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Birchtech Corp.'s Piotroski F-Score?
Birchtech Corp. (BCHT) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Birchtech Corp.'s earnings high quality?
Birchtech Corp. (BCHT) reported a net loss of $3.0M while operations used $700K of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Birchtech Corp. cover its interest payments?
Birchtech Corp. (BCHT) reported an operating loss of $3.0M against $14K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Birchtech Corp.?
Birchtech Corp. (BCHT) scores 42 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.