PyroGenesis

PyroGenesis reported Q3 2025 revenue of $3.25M, down 18.7% YoY, with a 24% gross margin. Net loss was $2.25M, and modified EBITDA loss was $1.89M. Backlog stands at $51.6M (81% USD). Key wins include a Constellium contract, a $1.2M cement sector deal, and a titanium powder order. Fumed silica pilot results showed improved surface area (136 m²/g) and 0% carbon. Post-quarter, >$5M was raised, including CEO participation. The company is focused on innovation and a strong finish to 2025.

PyroGenesis (PYRGF) addressed an inaccurate online post by a board member regarding its ongoing private placement. The post incorrectly claimed the placement was oversubscribed. PyroGenesis clarified that the placement, targeting approximately $5 million, is still in progress and not yet oversubscribed. The first tranche is expected to finalize soon. The board has reviewed the incident and implemented corrective measures, emphasizing its commitment to accurate disclosure and corporate governance. The company urges disregard of the incorrect, now-deleted, post.