PureCycle Technologies Inc 2025年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedSeptember 30,2025or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ________to ________Commission File Number:001-40234 86-2293091(I.R.S. EmployerIdentification No.) Delaware(State or other jurisdiction of incorporation or organization) 20 North Orange Avenue,Suite 106Orlando,Florida32801(877)648-3565 (Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject tosuch filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of November 4, 2025, there were approximately180,198,340shares of the registrant's Common Stock, par value $0.001 per share, PureCycle Technologies, Inc. QUARTERLY REPORT ON FORM 10-QTABLE OF CONTENTS PART I -FINANCIAL INFORMATION Item 1. Financial StatementsCondensed Consolidated Balance Sheets as of September 30, 2025 (Unaudited) and December 31,2024Condensed Consolidated Statements of Comprehensive Loss for the Three and Nine Months endedSeptember 30, 2025 and 2024(Unaudited)Condensed Consolidated Statements of Mezzanine Equity and Stockholders' Equity for the Three andNine Months ended September 30, 2025 and 2024 (Unaudited)Condensed Consolidated Statements of Cash Flows for the Nine Months ended September 30, 2025and 2024(Unaudited)Notes to the Condensed Consolidated Financial Statements(Unaudited)Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and ProceduresPART II - OTHER INFORMATIONItem 1. Legal ProceedingsItem 1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities and Use of ProceedsItem 5. Other InformationItem 6. ExhibitsSIGNATURES 515151525355 PureCycle Technologies, Inc.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) (in thousands, except per share data)September 30,2025December 31, 2024ASSETSCURRENT ASSETSCash and cash equivalents$234,359$15,683Restricted cash – current3,58216,656Accounts receivable, net1,595—Inventory10,7258,087Prepaid expenses and other current assets15,18513,473Total current assets265,44653,899Restricted cash – noncurrent9,3129,172Operating lease right-of-use assets54,95756,833Property, plant and equipment, net655,974674,079Prepaid expenses and other noncurrent assets3,4344,402TOTAL ASSETS$989,123$798,385 LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITYCURRENT LIABILITIES Accounts payable$4,408$6,596Accrued expenses and other current liabilities23,49443,259Accrued interest6,4347,626Current portion of warrant liability60,23510,109Current portion of long-term debt10,28912,932Current portion of related party bonds payable13,54010,355Total current liabilities118,40090,877NONCURRENT LIABILITIES Deferred revenue5,0005,000Long-term debt, less current portion276,853256,886Related party bonds payable, less current portion78,40566,471Warrant liability, less current portion62,258120,090Operating lease right-of-use liabilities53,05554,665Series A Preferred Stock liability26,25918,433Other noncurrent liabilities1,3705,514TOTAL LIABILITIES621,600617,936 COMMITMENTS AND CONTINGENCIES (NOTE 10) STOCKHOLDERS' EQUITYCommon Stock - $0.001par value,450,000shares authorized;180,191and PureCycle Technologies, Inc.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(Unaudited) PureCycle Technologies, Inc. The accompanying notes are an integral part of these condensed consolidated financial statements. PureCycle Technologies, Inc. PureCycle Technologies, Inc. NOTES T