--- title: "Birchtech | 10-Q: FY2026 Q1 Revenue: USD 4.24 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286312374.md" datetime: "2026-05-13T20:25:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286312374.md) - [en](https://longbridge.com/en/news/286312374.md) - [zh-HK](https://longbridge.com/zh-HK/news/286312374.md) --- # Birchtech | 10-Q: FY2026 Q1 Revenue: USD 4.24 M Revenue: As of FY2026 Q1, the actual value is USD 4.24 M. EPS: As of FY2026 Q1, the actual value is USD -0.06. EBIT: As of FY2026 Q1, the actual value is USD -1.199 M. ### Segmented Financial Metrics and Strategic Summary Birchtech Corp. operates as a single segment focused on specialty activated carbon technologies for air and water purification in the United States. #### Revenue - **Total Revenues:** Total revenues increased to $4,239,934 for the three months ended March 31, 2026, from $3,221,011 for the same period in 2025. - **Product Revenue:** Product revenue grew to $4,187,920 in 2026 from $2,676,984 in 2025, driven by increased demand for coal in the mercury emissions business and initial sales in the water treatment market. - **License Revenue:** License revenue decreased significantly to $0 in 2026 from $525,000 in 2025, due to the absence of a comparable one-time licensing agreement. - **Other Revenue:** Other revenues, including demonstrations, consulting, and equipment sales, increased to $52,014 in 2026 from $19,027 in 2025. #### Cost of Sales and Gross Profit - **Cost of Sales:** Cost of sales rose to $2,857,228 in 2026 from $1,986,665 in 2025, primarily due to increased product sales and a change in product mix. - **Gross Profit:** Gross profit increased to $1,382,706 in 2026 from $1,234,346 in 2025, mainly due to higher product sales, despite a shift in revenue mix with lower high-margin licensing revenues. #### Operating Expenses - **Total Operating Expenses:** Total operating expenses decreased to $2,532,051 in 2026 from $2,577,299 in 2025. - **Research and Development (R&D) Expenses:** R&D expenses increased to $550,578 in 2026 from $406,676 in 2025, reflecting increased investment in water treatment product development. - **Selling, General and Administrative (SG&A) Expenses:** SG&A expenses decreased to $1,981,473 in 2026 from $2,170,623 in 2025, primarily due to lower legal fees and reduced stock-based compensation. #### Operating Loss and Net Loss - **Operating Loss:** The operating loss improved to - $1,149,345 in 2026 from - $1,342,953 in 2025, driven by increased revenues and decreased operating expenses. - **Other Income (Expense):** Total other expenses were - $195,841 in 2026 compared to - $322,132 in 2025. - **Interest Income:** Interest income increased to $49,840 in 2026 from $31,273 in 2025. - **Loss on Change in Fair Value of Profit Share:** This loss was - $245,681 in 2026, an improvement from - $353,351 in 2025. - **Net Loss:** The net loss improved to - $1,345,543 in 2026 from - $1,679,220 in 2025. #### Liquidity and Capital Resources - **Cash:** Cash significantly increased to $14,748,440 at March 31, 2026, from $2,245,426 at December 31, 2025. - **Working Capital:** Working capital improved to $7,720,000 at March 31, 2026, from a working capital deficiency of - $5,737,000 at December 31, 2025. - **Accumulated Deficit:** The accumulated deficit was - $77,124,786 at March 31, 2026, compared to - $75,779,243 at December 31, 2025. - **Public Offering:** In the first quarter of 2026, Birchtech Corp. completed a public offering, generating net proceeds of $14,228,617, which primarily contributed to the increase in cash and working capital. #### Cash Flow - **Operating Activities:** Net cash used in operating activities increased to - $2,206,853 for the three months ended March 31, 2026, from - $254,335 for the same period in 2025, primarily due to changes in accounts receivable, accounts payable, and accrued expenses. - **Investing Activities:** Net cash used in investing activities was $0 in 2026, compared to - $14,153 in 2025 for the purchase of lab equipment. - **Financing Activities:** Net cash provided by financing activities was $14,709,867 in 2026, mainly from the public offering, with no cash provided or used in financing activities in 2025. #### Unique Metrics - **Profit Share Liability:** The profit share liability was $7,093,613 at March 31, 2026, up from $6,847,932 at December 31, 2025. - **Patent Litigation Judgment:** Birchtech Corp. received a final judgment of $78,397,157, including pre-judgment interest, in a patent infringement action on December 29, 2025, though its realizability is uncertain due to an ongoing appeal. - **Adjusted EBITDA (Non-GAAP):** Adjusted EBITDA improved to - $994,000 for the three months ended March 31, 2026, from - $1,179,000 for the same period in 2025. #### Outlook and Strategy Birchtech Corp. is focused on converting patent infringers into supply chain customers or licensees for its mercury removal sorbent products and expanding into the water treatment market by innovating next-generation sorbent technologies. Management believes that the net proceeds from the recent public offering and anticipated revenues provide sufficient liquidity to fund operations for at least the next twelve months, alleviating prior going concern doubts. ### Related Stocks - [BCHT.US](https://longbridge.com/en/quote/BCHT.US.md) ## Related News & Research - [Birchtech Q1 revenue rises 32%; adj EBITDA loss narrows](https://longbridge.com/en/news/286310773.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Hafnia’s Q1 2026 Financial Results Presentation to Be Held on 27 May 2026 | HAFN Stock News](https://longbridge.com/en/news/287014236.md) - [LOWE'S REPORTS FIRST QUARTER 2026 SALES AND EARNINGS RESULTS | LOW Stock News](https://longbridge.com/en/news/287043063.md) - [Prairie Operating Co. Announces First Quarter 2026 Results and Reaffirms 2026 Guidance | PROP Stock News](https://longbridge.com/en/news/286463109.md)