PyroGenesis Canada AI Stock Analysis
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PyroGenesis Canada (PYR) AI Stock Analysis
PyroGenesis Canada
(TSX:PYR)
The score is primarily constrained by severely weak financial performance, including negative equity and substantial cash burn. Bearish technical trends and a negative P/E further weigh on the assessment, while earnings-call progress on revenue, backlog, and operating improvements provides limited offset.
PyroGenesis Canada (PYR) vs. iShares MSCI Canada ETF (EWC)
- Market Cap
- CAD 43.01M
- Dividend Yield
- ―
- Average Volume (3M)
- 274.90K
- Price to Earnings (P/E)
- -3.7
- Beta (1Y)
- 0.26
- Revenue Growth
- 16.54%
- EPS Growth
- -4.08%
- Country
- Canada
- Employees
- 88
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Industrial - Machinery
PyroGenesis Canada Business Overview & Revenue Model
Company Description
Montréal-based PyroGenesis Canada Inc. is an international pioneer in the development, manufacturing, and commercialization of advanced plasma processes and systems. Their portfolio includes several proprietary technologies: DROSRITE efficiently reco...
PyroGenesis Canada Earnings Call Summary
The call was broadly positive, with strong first-nine-month revenue growth, improved gross profit and modified EBITDA, a backlog of $39.9 million, successful project completion, new and recurring customers, and progress across multiple technology platforms. The main challenges were the approximately 5% third-quarter revenue decline, a higher quarterly net loss driven by noncash share-based compensation, lower year-to-date gross margin, modest titanium powder order sizes, and continued project timing and input-cost volatility.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
The company said its backlog of $39.9 million is expected to be recognized over periods ranging anywhere from 6 to 36 months, while its additive division is being positioned for an operational scale up of several times larger than what is currently in place, along with a goal to attract capital to finance that operational scale up; a client has indicated the potential for a monthly supply agreement of up to 1000 kilograms, and the company said it is on track to close out 2026 strongly, with its focus remaining on 4 items: executing the backlog, converting commercial opportunities into contracts, maintaining cost discipline, and building value for shareholders.
PyroGenesis Canada Financial Statement Overview
Summary
Severely distressed financial profile: persistent net and operating losses, negative $5.7 million equity, negative $11.3 million operating cash flow, and negative $11.4 million free cash flow. Lower debt and improved losses are insufficient to offset the ongoing financial weakness.
Income Statement
8Very NegativeBalance Sheet
12Very NegativeCash Flow
6Very Negative| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.70M | 12.57M | 15.65M | 12.35M | 19.01M | 31.07M |
| Gross Profit | 4.01M | 3.80M | 5.30M | 3.44M | 8.14M | 12.43M |
| EBITDA | -10.72M | -11.68M | -5.08M | -24.87M | -29.55M | -36.80M |
| Net Income | -10.72M | -14.76M | -6.67M | -28.50M | -32.17M | -38.43M |
Balance Sheet | ||||||
| Total Assets | 15.85M | 17.29M | 29.20M | 28.44M | 47.67M | 69.77M |
| Cash, Cash Equivalents and Short-Term Investments | 148.26K | 1.09M | 2.98M | 1.80M | 3.45M | 12.20M |
| Total Debt | 2.49M | 6.65M | 9.01M | 9.20M | 6.92M | 5.51M |
| Total Liabilities | 21.52M | 27.71M | 32.66M | 31.26M | 30.80M | 29.00M |
| Stockholders Equity | -5.67M | -10.43M | -3.46M | -2.83M | 16.87M | 40.77M |
Cash Flow | ||||||
| Free Cash Flow | -11.36M | -10.36M | -2.45M | -12.12M | -11.82M | -19.86M |
| Operating Cash Flow | -11.34M | -10.09M | -2.10M | -12.05M | -11.13M | -18.11M |
| Investing Cash Flow | 64.22K | 2.56M | 1.66M | 3.05M | -368.18K | 2.72M |
| Financing Cash Flow | 11.29M | 5.65M | 1.52M | 7.37M | 2.64M | 9.47M |
PyroGenesis Canada Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PYR, the sentiment is Negative. The current price of 0.19 is below the 20-day moving average (MA) of 0.20, below the 50-day MA of 0.22, and below the 200-day MA of 0.30, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 40.62 is Neutral, neither overbought nor oversold. The STOCH value of 40.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:PYR.
PyroGenesis Canada Peers Comparison
Overall Rating
TSE:REKO64.8Neutral
TSE:TLA47Neutral
TSE:ENW46Neutral- TSE:PYR42.1Neutral
TSE:DYA41Neutral
TSE:NXH40Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:REKO | 65Neutral | CAD 30.88M | 8.92 | 6.20% | 3.55% | 7.21% | ― |
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
| TSE:TLA | 47Neutral | CAD 12.73M | -14.37 | -5.66% | ― | -8.43% | -233.47% |
| TSE:ENW | 46Neutral | CAD 24.93M | -13.38 | -16.94% | ― | 9.31% | -124.29% |
| TSE:PYR | 42Neutral | CAD 45.27M | -3.68 | 112.32% | ― | 16.54% | -4.08% |
| TSE:DYA | 41Neutral | CAD 45.75M | -4.07 | 718.52% | ― | -21.18% | 3.67% |
| TSE:NXH | 40Underperform | CAD 27.18M | -2.88 | -138.91% | ― | 374.59% | 74.40% |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TSE:PYR | PyroGenesis Canada | 0.19 | -0.02 | -9.52% | |
| TSE:DYA | dynaCERT Inc | 0.09 | -0.02 | -22.73% | |
| TSE:ENW | Enwave Corp | 0.21 | -0.19 | -47.50% | |
| TSE:REKO | Reko International | 5.58 | 1.73 | 44.69% | |
| TSE:TLA | Titan Logix | 0.47 | -0.05 | -9.62% | |
| TSE:NXH | Next Hydrogen Solutions Inc | 0.40 | -0.38 | -48.72% |
PyroGenesis Canada Corporate Events
PyroGenesis Wins Aerospace Titanium Powder Contract
PositivePyroGenesis has secured a contract from a global aerospace leader through a competitive bidding process to supply coarse-cut Ti64 titanium powder. Produced using the company’s NexGen™ plasma atomization system, the 45–150-micron powder will support t...
PyroGenesis Schedules Third-Quarter Results Call, Changes 2027 Earnings Schedule
NeutralPyroGenesis will host a conference call on November 13 to discuss its third-quarter results for the period ended September 30, 2026, along with business progress and other developments. The call will be available by webcast, with a recording posted l...
PyroGenesis Wins First Plasma Torch Deal in Carbon-Free Agritech Push
PositivePyroGenesis has secured an initial contract to supply a 40 kW plasma torch system to a privately held U.S. agritech firm that is developing carbon-free production processes for critical agricultural materials. The deal, which includes a 60% downpayme...
PyroGenesis Wins Third Titanium Powder Order as NexGen Additive Materials Gain Traction
PositivePyroGenesis has secured a third titanium powder contract from a recurring U.S.-based OEM customer serving the additive manufacturing, defense, and aerospace sectors, underscoring growing commercial traction for its NexGen plasma atomization technolog...
PyroGenesis Sets Up Dubai Subsidiary to Drive Middle East and Asia Growth
PositivePyroGenesis has established a wholly owned subsidiary in Dubai, PyroGenesis Global FZCO, to serve as a regional hub for the Middle East and Asian markets. The move aims to strengthen the company’s presence in one of the fastest-growing industrial reg...
PyroGenesis Completes Saudi Drosrite Contract Payment as Seven Systems Go Fully Operational
PositivePyroGenesis has received a US$1.63 million payment under its more than $25 million Drosriteâ„¢ contract with Saudi-based Radian Oil and Gas Services, completing payment under the original agreement. The company had extended the payment schedule to supp...
PyroGenesis Completes Full Drosrite Rollout at World’s Largest Aluminum Complex
PositivePyroGenesis has completed the deployment of seven Drosrite™ aluminum dross recovery systems at Radian Oil and Gas Services’ new plant in Saudi Arabia, part of the world’s largest integrated aluminum production complex. The project includes the compan...
PyroGenesis Installs 4.5 MW Plasma Torch at U.S. Defense Aeronautics Facility
PositivePyroGenesis has completed installation of a 4.5 MW plasma torch system at a U.S. defense and aeronautics research facility, with the equipment now in final commissioning to validate performance specifications. The system will be used in an extreme-te...
PyroGenesis Takes 50% Stake in HPQ Silica Unit to Drive Fumed Silica Commercialization
PositivePyroGenesis has converted its existing royalty interest into a 50% ownership stake in HPQ Silica Polvere Inc., the rights-holder for its proprietary Fumed Silica Reactor technology, while retaining exclusive status as the supplier of equipment for an...
PyroGenesis Secures Final Acceptance from Tata Steel for Large-Scale Hydrogen Project
PositivePyroGenesis’ Pyro Green-Gas unit has received a Final Acceptance Certificate from Tata Steel for a major coke-oven gas purification and hydrogen production project at one of the steelmaker’s largest facilities. The certification confirms successful c...
PyroGenesis Wins Second Titanium Powder Order From U.S. Additive OEM
PositivePyroGenesis has secured a second titanium powder contract in a week from a U.S.-based original equipment manufacturer serving the additive manufacturing market. The US$73,700 order covers Ti64 coarse-cut titanium powder produced via the company’s Nex...
PyroGenesis Wins Second Titanium Powder Deal with DoD-Backed U.S. Research Client
PositivePyroGenesis has secured a second titanium powder supply contract within a month from a major U.S. applied research facility backed by the Department of Defense and NASA, underscoring the firm’s growing traction in aerospace and defense additive manuf...
PyroGenesis Wins First Titanium Powder Contract With U.S. Additive OEM
PositivePyroGenesis has secured a first commercial contract to supply coarse titanium powder to a U.S.-based original equipment manufacturer serving the additive manufacturing sector, following successful testing of sample batches. The order, made up of Ti64...
PyroGenesis Wins $1.4 Million Plasma Torch Deal With European Metallurgy Research Institute
PositivePyroGenesis Inc., a Montreal-based specialist in ultra-high temperature plasma technologies for heavy industry and defense, supplies advanced plasma torch systems and recycling solutions to global customers in metals, aerospace, utilities, environmen...
PyroGenesis Advances Fumed Silica Reactor Deals as Pilot Hits Commercial Grades
PositivePyroGenesis is advancing its fumed silica business line after commissioning a pilot plant in 2025 that successfully produced multiple commercial-grade products using its plasma-based Fumed Silica Reactor. The technology, developed for HPQ Silica Polv...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 14, 2026