Canada's PyroGenesis Q1 revenue rises

PyroGenesis

08/05/2026 24:10

Overview

Canada plasma tech provider's Q1 revenue rose 63% yr/yr to C$4.9 mln, second highest in history

Gross margin improved to 32% from 27% a year earlier

Company ended Q1 with C$43.1 mln backlog, 86% in US dollars

Outlook

Company is not providing specific revenue or net income guidance for 2026

Company expects ongoing macroeconomic uncertainty and inflation to impact demand and revenue variability

Company continues cost optimization measures to reduce expenses and maintain competitiveness

Result Drivers

TORCH AND SPARC™ SYSTEMS - Revenue growth mainly driven by increased fabrication, delivery, and installation activities for torch-related and SPARC™ products

PROJECT MILESTONES - Revenue variability closely linked to timing of project milestones, with growth reflecting increased execution across key product lines

COST CONTROLS - Improved gross margin and lower SG&A expenses attributed to cost optimization measures and operational streamlining

Company press release: ID:nGNXw6ctN

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
C$4.90 mln
Q1 Gross Margin
32.00%


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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.)