Mycelx Technologies H1 revenue rises, says 80% of FY revenue target booked

Mycelx Technologies

10/09/2026 07:12

Overview
Water treatment tech provider's H1 2026 revenue grew 26% yr/yr, driven by paid trials and leases
Gross profit for H1 2026 rose 77% yr/yr as recurring media sales expanded
EBITDA loss narrowed in H1 2026 as company managed operating expenses

Outlook
MYCELX expects to meet FY2026 revenue expectation of $11.0 mln, with 80% booked or contracted
Company anticipates a single-source Middle East contract to support FY2026 revenue forecast
MYCELX sees significant growth potential in 2027, driven by elevated oil prices and project pipeline

Result Drivers
PAID TRIALS AND LEASES - Co said H1 2026 revenue growth was primarily driven by paid trials, equipment leases and recurring media sales
REVENUE MIX - Gross margin improvement reflected revenue mix, with leases and recurring media sales contributing a larger share
PROJECT AWARDS - New contracts and heightened bidding activity in produced water treatment supported results, per management

Company press release: ID:nRSJ1346Ua

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 EBITDA
 
-$1.2 mln
 
H1 Gross Profit
 
$1.2 mln
 

Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the environmental services & equipment peer group is "buy."
Wall Street's median 12-month price target for MYCELX Technologies Corp is GBp86.00, about 70.3% above its September 9 closing price of GBp50.50
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 36 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)