Business
PyroGenesis Announces First Quarter 2026 Results: Revenue of $4.9 Million, Up 63% Year-Over-Year for Best Quarter Since 2022
Strong start to year leads to second highest Q1 revenue in Company’s history. Advanceme...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"PyroGenesis Announces First Quarter 2026 Results: Revenue of $4.9 Million, Up 63% Year-Over-Year for Best Quarter Since 2022\nStrong start to year leads to second highest Q1 revenue in Company’s history.Advancement and completion of major projects drive Q1 revenue.Backlog of $43.1 million. MONTREAL, May 07, 2026 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis” or the “Company”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), a leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, today announces its financial and operating results for the first quarter ended March 31, 2026. “PyroGenesis closed the first quarter with a 63 percent year-over-year revenue increase, delivering the second strongest first quarter in our history and underscoring the resilience of our business model despite fluctuating market and geopolitical conditions,” said P. Peter Pascali, President and CEO of PyroGenesis Inc. “Our diversified product and technology portfolio provided revenue streams from a variety of different project types and project phases during Q1. Operational and process streamlining efforts contributed to the completion of major projects and advancement on others, which led directly to increased revenue. As our revenues can fluctuate quarter to quarter based on project phases and client timelines, I’m encouraged by the strong start to 2026 from both operational and financial standpoints.” Mr. Pascali continued, “Our strong revenue results aside, we also registered some important activity during Q1. We announced an ongoing supply agreement with a U.S. client for our titanium powder and signed an agreement with a U.S. defense contractor to jointly pursue chemical weapon destruction contracts in Syria. We also made vital progress on our fumed silica production system, first with independent verification that established benchmarks for key commercial product grade levels have been met, and second, toward potential customer agreements.” “Finally, successful results were released with data derived from a live furnace trial conducted by PyroGenesis and its clients Rio Tinto and Alcoa, which confirmed that our plasma torches provide significant reductions and/or cost savings com...