Birchtech Reports First Quarter 2026 Financial Results
Rhea-AI Summary
Birchtech (NYSE American:BCHT) reported first quarter 2026 revenue of $4.2 million, up 32% year-over-year, with gross profit of $1.4 million and net loss narrowing to $1.3 million ($0.06/share). Cash rose to $14.7 million with no debt after a $16.4 million equity raise.
The company launched its SEA-IX™ nuclear-grade ion exchange resin line, secured about $1 million in initial orders, began collection efforts on a $78 million final patent judgment, uplisted to NYSE American, expanded water-treatment collaborations, and appointed a new CFO.
AI-generated analysis. Not financial advice.
Positive
- Revenue increased 32% year-over-year to $4.2 million in Q1 2026
- Net loss narrowed to $1.3 million from $1.7 million year-over-year
- Adjusted EBITDA loss improved from ($1.2) million to ($1.0) million
- Cash rose to $14.7 million with no debt after $16.4 million raise
- SEA-IX™ launched with approximately $1 million in initial purchase orders
- Collection efforts initiated on approximately $78 million final patent judgment
Negative
- Company remains unprofitable with a Q1 2026 net loss of $1.3 million
- Adjusted EBITDA remains negative at ($1.0) million for Q1 2026
- Decrease in high-margin licensing revenue versus prior-year quarter
- R&D expenses increased to $0.6 million from $0.4 million year-over-year
Key Figures
Market Reality Check
Peers on Argus
Sector peers showed mixed moves: TMGEF down 6.37% and INTWF up 7.64%, while others were flat. No peers appeared in the momentum scanner, pointing to a stock-specific setup for BCHT.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 29 | Earnings call notice | Neutral | +6.1% | Announcement of Q1 2026 earnings release date and conference call details. |
| Mar 31 | Quarterly results | Positive | +1.6% | Q4 2025 results with product revenue growth, $78M judgment and capital raise. |
| Mar 24 | Earnings call notice | Neutral | +0.0% | Notice of Q4 2025 results timing and investor conference call logistics. |
| Nov 13 | Quarterly results | Positive | +2.7% | Q3 2025 revenue and EBITDA improvement with net income and water orders. |
| Nov 06 | Earnings call notice | Neutral | -4.3% | Scheduling announcement for Q3 2025 earnings release and call information. |
Earnings-related headlines have generally seen modestly positive price reactions, especially when accompanied by concrete financial improvements or corporate milestones.
Over the past few quarters, Birchtech’s earnings and related communications have highlighted rapid revenue growth, litigation milestones, and an exchange uplisting. Q3 2025 results showed strong year-over-year revenue gains and positive net income, while Q4 2025 results emphasized product revenue growth, a $78M judgment, and capital raising. Earnings call announcements in late 2025 and early 2026 produced small to moderate price moves. Today’s Q1 2026 report extends that narrative with further revenue growth and water platform expansion.
Historical Comparison
In the last five earnings-related headlines, BCHT saw an average move of about 1.22%, with stronger reactions when concrete results or milestones, such as major judgments or revenue growth, were disclosed.
Earnings updates have tracked Birchtech’s shift from TSX/OTCQB toward NYSE American listing, growing product revenues, and increased emphasis on water treatment and enforcement of a large patent judgment.
Market Pulse Summary
This announcement details Q1 2026 revenue of $4.2 million, improved gross profit, and a narrower net loss of $1.3 million alongside a stronger cash position of $14.7 million and no debt. Management also highlighted initial SEA-IX™ resin orders of about $1 million and ongoing efforts to collect an approximately $78 million judgment. Historically, earnings-related headlines produced modest average moves near 1.22%. Investors may watch future revenue mix, margin trends, and judgment recovery progress.
Key Terms
ion exchange resin technical
post-judgment interest regulatory
adjusted ebitda financial
AI-generated analysis. Not financial advice.
First Quarter 2026 Revenues of
CORSICANA, Texas, May 13, 2026 (GLOBE NEWSWIRE) -- Birchtech Corp. (NYSE American: BCHT) (TSX: BCHT) (“Birchtech” or the “Company”), a leader in specialty activated carbon technologies for sustainable air and water treatment, today reported financial results for the first quarter ended March 31, 2026.
Key First Quarter 2026 & Subsequent Operational Highlights
- Successfully uplisted to the NYSE American in February 2026 with a concurrent public offering raising aggregate gross proceeds of approximately
$16.4 million , significantly strengthening the Company’s balance sheet and expanding its investor base. - Initiated collection efforts on the approximately
$78 million final judgment from the U.S. District Court for the District of Delaware in the Company’s patent infringement case. Defendants have filed a notice of appeal but have not posted a bond; post-judgment interest continues to accrue, and the Company is actively pursuing its enforcement options. - Launched SEA-IX™, a new nuclear-grade ion exchange resin product line, expanding the Company’s water treatment platform into an estimated
$220 million addressable market spanning nuclear power, coal-fired utilities and municipal water treatment with an initial approximately$1 million in purchase orders to date. - Collaboration with national engineering firm Civil & Environmental Consultants (CEC) to offer RSSCT testing through Birchtech’s Analytical Design Center in Grand Forks, North Dakota to CEC’s nationwide base of water-utility clients.
- Appointed respected financial executive Michael Mioska, CPA, MBA, as Chief Financial Officer in May 2026, succeeding Fiona Fitzmaurice.
- Announced participation and exhibition at four upcoming water industry conferences across May and June 2026, including the AWWA ACE26 Annual Conference & Exposition in Washington, D.C.
Management Commentary
Richard MacPherson, Birchtech President and Chief Executive Officer, commented: “The first quarter of 2026 has created a launch pad for the achievements we expect to execute upon this year. With growth in our water business now making an impact on our bottom line with increased revenues, we will continue to see expansion in this area over the next several months.
“Across the rest of the business, we strengthened Birchtech on every front. We completed our uplisting to the NYSE American with a
“Subsequent to quarter-end, we further strengthened our leadership team with the appointment of Michael Mioska as Chief Financial Officer whose strategic financial leadership and oversight will contribute to our next phase of growth. With a reinforced balance sheet, a senior exchange listing, and two complementary business lines reinforcing each other, Birchtech is well positioned to deliver sustained growth and long-term value for shareholders” concluded MacPherson.
First Quarter 2026 Financial Results
Revenues increased
Gross profit totaled
SG&A expenses totaled
R&D expenses totaled
Net loss for the first quarter of 2026 totaled
Adjusted EBITDA improved from a loss of (
Cash as of March 31, 2026, totaled
First Quarter 2026 Earnings Conference Call
Management will host an investor conference call at 5:00 p.m. Eastern time on Wednesday, May 13, 2026, to discuss Birchtech’s first quarter 2026 financial results and provide a corporate update. To participate, please use the following information:
Date: Wednesday, May 13, 2026
Time: 5:00 p.m. Eastern time
U.S./Canada Dial-in: 1-877-407-0792
International Dial-in: 1-201-689-8263
Conference ID: 13760298
Webcast: BCHT Q1 2026 Earnings Conference Call
Please dial in at least 10 minutes before the start of the call to ensure timely participation.
A telephone playback of the call will be available through Wednesday, June 3, 2026. To listen, call 1-844-512-2921 within the United States and Canada or 1-412-317-6671 when calling internationally, using replay pin number 13760298. A webcast replay will be available for one year, using the webcast link above.
About Birchtech Corp.
Birchtech Corp. (NYSE American: BCHT) (TSX: BCHT) is a leader in specialty activated carbon technologies, delivering innovative solutions for air and water purification to support a cleaner, more sustainable future. The Company provides patented SEA® sorbent technologies for mercury emissions capture for the coal-fired utility sector and disruptive water purification technologies with a specialization on removing contaminants, including ‘forever chemicals’ such as PFAS, from potable water and industrial wastewater. Backed by a strong intellectual property portfolio and a team of activated carbon experts, Birchtech provides cleaner air to North American communities and is applying this expertise to a novel approach in water purification. To learn more, please visit www.birchtech.com.
Non-GAAP Financial Measures
To supplement our consolidated financial statements presented in accordance with GAAP and to provide investors with additional information regarding our financial results, we consider and are including herein Adjusted EBITDA, a Non-GAAP financial measure. We view Adjusted EBITDA as an operating performance measure and, as such, we believe that the GAAP financial measure most directly comparable to it is net income (loss). We define Adjusted EBITDA as net income adjusted for interest and financing fees, income taxes, depreciation, amortization, stock-based compensation, and other non-cash income and expenses. We believe that Adjusted EBITDA provides us an important measure of operating performance because it allows management, investors, debtholders and others to evaluate and compare ongoing operating results from period to period by removing the impact of our asset base, any asset disposals or impairments, stock-based compensation and other non-cash income and expense items associated with our reliance on issuing equity-linked debt securities to fund our working capital.
Our use of Adjusted EBITDA has limitations as an analytical tool, and this measure should not be considered in isolation or as a substitute for an analysis of our results as reported under GAAP, as the excluded items may have significant effects on our operating results and financial condition. Additionally, our measure of Adjusted EBITDA may differ from other companies’ measure of Adjusted EBITDA. When evaluating our performance, Adjusted EBITDA should be considered with other financial performance measures, including various cash flow metrics, net income and other GAAP results. In the future, we may disclose different non-GAAP financial measures in order to help our investors and others more meaningfully evaluate and compare our future results of operations to our previously reported results of operations.
The following table shows our reconciliation of net income (loss) to Adjusted EBITDA for the three months ended March 31, 2026, and 2025, respectively:
| For the Three Months Ended | ||||||||
| March 31, | March 31, | |||||||
| 2026 | 2025 | |||||||
| (In thousands) | ||||||||
| Net income (loss) | $ | (1,346 | ) | $ | (1,679 | ) | ||
| Non-GAAP adjustments: | ||||||||
| Depreciation and amortization | 106 | 72 | ||||||
| Change in fair value of profit share | 246 | 353 | ||||||
| Income taxes | - | 14 | ||||||
| Stock based compensation | - | 61 | ||||||
| Adjusted EBITDA | $ | (994 | ) | $ | (1,179 | ) | ||
Safe Harbor Statement
With the exception of historical information contained in this press release, content herein may contain “forward-looking statements” that are made pursuant to the Safe Harbor Provisions of the U.S. Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements are generally identified by using words such as “anticipate,” “believe,” “plan,” “expect,” “intend,” “will,” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. Forward-looking statements in this release include statements relating to expected developments and growth in Birchtech’s business. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. In addition, this release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Birchtech does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance or other forward-looking statements contained in this release can be found in Birchtech’s periodic filings with the Securities and Exchange Commission or Canadian securities regulators.
Investor Relations Contact:
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
(949) 259-4987
BCHT@mzgroup.us
www.mzgroup.us
