• PureCycle Technologies reported a net loss per share of USD 0.18 in Q3 2021, slightly higher than analyst estimates (loss of USD 0.13 per share) but lower than Q3 2020 (USD 0.28). However, operating losses for the quarter amounted to USD 27.5 million, nearly 3x the operating loss incurred last quarter and nearly 5x compared to the same period last year. This was mainly due to increased selling and administrative expenses (nearly 3x Q2 2021 and 12x Q3 2020) during the period. 

<ul><li>PureCycle did not provide any revenue or profit guidance for the next quarter or for the full-year 2021. As reported in Q2 , the company plans to complete its Plant 1 by the end of 2022, which is when it expects to generate revenue.</ul>

<ul><li>The company has highlighted a few milestones as of Q32021. Most importantly, it reported a pipeline of demand for its ultra-pure recycled polypropylene and is in active discussions to provide 277 million pounds across existing and new markets. The company also brought its first product to market during the period.</ul>

• Other highlighted operational milestones as of Q3 2021 include:

  • On track to reach a total installed annual capacity of one billion pounds by 2025: Plant 1 in Ohio (capacity of 107 million pounds) to go operational by Q4 2022 and the first cluster of Plant 2 in Georgia (capacity of 650 million pounds) to begin site work by Q1 2022 and have five processing lines by Q4 2024. An update on Plants 3 and 4 was not provided.

  • Securing necessary feedstock for production: Secured six new letters of intent to receive 168 million pounds of feedstock and has a 1.6 billion pound feedstock supply pipeline.