Business
PyroGenesis Announces First Quarter 2025 Results
MONTRÉAL, May 13, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (h...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"PyroGenesis Announces First Quarter 2025 Results\n\n\n\n MONTRÉAL, May 13, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (http://pyrogenesis.com) (TSX:PYR) (OTCQX:PYRGF) (FRA:8PY1), a high-tech company that designs, develops, manufactures and commercializes all-electric plasma processes and sustainable solutions to support heavy industry in their energy transition, emission reduction, commodity security, and waste remediation efforts, today announces its financial and operating results for the first quarter ended March 31, 2025.\n \n\n “With a very strong project backlog, the beginning of major long-term energy transition customer collaborations underway, and some important project/contract milestones on the near-term horizon across several business lines including titanium metal and silica powder production, aluminum dross processing, and plasma burners in high temperature furnaces, we believe we are well-positioned for continued improvements in the upcoming fiscal quarters and do not see any emerging challenges across the various segments of our business,” said P. Peter Pascali, President and CEO of PyroGenesis.\n \n\n “We continue to make strides in our cost savings and efficiency measures. As we maintain focus on the cost optimization program which in 2024 resulted in over $3 million in recurring savings, we expect the type of weaker quarter that was experienced this Q1 to occur less frequently over time. We have already targeted an additional $3 to $5 million cost optimization for 2025, which are recurring cost savings on top of the 2024 amount, that will also benefit the company on a recurring annual basis. We have often stated that the very nature of our percent-of-project-completion revenue model can at times lead to irregular and unpredictable earnings numbers quarter-to-quarter, and with first quarter revenues historically representing many of the Company’s weakest results in any given year, my confidence is in no way dimmed with these Q1 results, which are a matter of course based on historical patterns.”\n \n\n\n\n KEY Q1 2025 FINANCIAL HIGHLIGHTS\n \n\n\n\n\n\n Revenue of $3 million\n \n , down 14% vs. Q1 2024\n \n\n\n Gross margin of 27%,\n \n a 5.3-point (24%) improvement vs. Q1 2024’s 21.7% margin\n \n\n\n Net loss of $4.26 million\n \n comp...