EarningsQ2 2026 Earnings Report
DE:8PY1 Q2 2026 EPS Results
Actual EPS>-€0.01
Consensus EPS―
Beat/Miss―
One Year Ago EPS-€0.01
DE:8PY1 Q2 2026 Revenue Results
Actual Revenue€2.77M
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+47.11%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeBefore Open
Conference CallThursday, August 6, 2026
DE:8PY1 Upcoming Earnings
PyroGenesis Canada's next earnings date is estimated for November 6, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a largely positive operational and financial trajectory: strong top-line growth (+47% Q2, +55% YTD), meaningful reductions in SG&A (14% Q2, 27% YTD) and substantial improvements in comprehensive loss and EBITDA metrics. The company also reported multiple strategic technology milestones and commercial agreements that support future growth. Offsetting items include a modest decline in backlog quarter-over-quarter, ongoing negative net finance results compared with a one-time prior-year finance gain, lower contributions from certain product lines due to timing, and continued exposure to revenue irregularity and industry-wide margin pressures. On balance, the improvements in revenue, cost control, and operating performance outweigh the remaining risks and one-off comparisons.Company Guidance
Strong Quarterly Revenue Growth
Revenue for Q2 2026 was $4.4M, up 47% year-over-year from $3.0M in Q2 2025. This was the company's best Q2 since 2022 and the second-best quarter overall since Q3 2022.
Year-to-Date Revenue Momentum
Revenue for the first six months of 2026 reached $9.3M versus $6.0M in the first half of 2025, an increase of over 55%, and the company has already surpassed revenue for the first nine months of 2025.
Backlog Provides Multi-Year Visibility
Backlog stood at $40.0M (down from $43.1M in Q1), with 88% denominated in USD and expected to be recognized over approximately the next three years, supporting future revenue visibility.
Diversified Revenue Drivers
Growth in the quarter was driven by multiple platforms: Spark (+$700k), Torch Systems (+$400k), DROSRITE (+$500k) and U.S. Navy programs (+$300k), indicating diversified commercial execution.
Improved Operating Leverage and Cost Reductions
SG&A for Q2 was $3.1M vs $3.6M prior year (14% reduction); excluding credit loss and depreciation the cash fixed cost reduction is ~25%. Year-to-date SG&A fell 27% to $5.4M from $7.3M, driven by lower headcount, lower office costs, higher government grant recoveries and elimination of a long-term lease.
Gross Margin in Expected Range
Gross margin was 32% for Q2 and year-to-date, in line with management expectations and consistent with the project mix despite industry-wide margin compression.
Substantial Improvements in Loss and EBITDA Metrics
Comprehensive loss improved to -$1.1M in Q2 from -$3.1M a year earlier (improvement of $2.0M). Year-to-date comprehensive loss improved to -$2.2M vs -$7.5M (improvement of $5.3M). Q2 EBITDA loss narrowed to -$0.6M from -$3.6M; six-month EBITDA improved to -$1.1M from -$7.3M. Modified EBITDA also materially improved.
Strategic Technology and Commercial Wins
Notable commercial and technical progress included a titanium powder supply agreement (initial testing across three particle sizes with potential for multi-ton annual volumes), successful production of battery-grade carbon black, hydrogen and battery-grade graphite via proprietary plasma processes, and delivery of contaminated biomass-to-syngas technology in partnership with Innofiber at a $14M pilot facility.
Operational and Non-Operating Gains
Gains such as $80k from equipment sales and prior period right-of-use lease modification gains contributed positively to reported earnings. Foreign exchange impact was neutral in the quarter versus a $200k loss in the prior year.
DE:8PY1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed