Overview

* PyroGenesis ( PYRGF ) Q3 revenue falls 18.7% yr/yr, reflecting project phase fluctuations

* Gross margin declines to 24% from 42% in Q3 2024

* Company secures C$1.2 mln contract with cement industry customer

Outlook

* Company is not providing specific revenue or net income guidance for 2025

* Company focuses on innovation in high temperature processes for heavy industry

* Company sees significant market opportunity in heavy industries and defense

Result Drivers

* NEW CONTRACTS - Secured a C$1.2 mln contract with a cement industry customer for plasma torch system, highlighting expansion into new sectors

* FUMED SILICA ADVANCES - Significant progress in fumed silica reactor, tripling material surface area performance, moving closer to commercial readiness

* STRATEGIC VERTICALS - New agreements in Europe for plastic waste and energy transition projects with Constellium show strength in strategic verticals

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 C$3.25

Revenue mln

Q3 Gross 24.00%

Margin

Press Release:

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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.)