PyroGenesis Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	13.47	15.65	12.35	19.01	31.07	17.78
Revenue Growth (YoY)	-6.83%	26.79%	-35.07%	-38.80%	74.79%	269.24%
Cost of Revenue	8.48	10.35	8.9	10.87	18.64	7.47
Gross Profit	4.99	5.3	3.44	8.14	12.43	10.3
Selling, General & Admin	11.16	11	30.96	29.03	27.24	12.33
Research & Development	1.01	0.79	2.21	2.32	2.54	-0.73
Total Operating Expenses	12.17	11.79	33.18	31.34	29.77	11.6
Operating Income	-7.18	-6.49	-29.74	-23.2	-17.34	-1.3
Interest Expense	-0	1.13	-1.32	0.55	0.4	0.52
Other Non-Operating Income (Expense)	-2.11	0.95	-0.31	-8.34	-21.43	44.63
Total Non-Operating Income (Expense)	-2.11	2.08	-1.63	-7.79	-21.02	45.15
Pretax Income	-9.29	-6.67	-28.73	-32.09	-39.17	42.8
Provision for Income Taxes	-	-	-0.22	0.08	-0.74	1.03
Net Income	-9.29	-6.67	-28.5	-32.17	-38.43	41.77
Net Income to Common	-9.29	-6.67	-28.5	-32.17	-38.43	41.77
Shares Outstanding (Basic)	186	181	178	171	167	148
Shares Outstanding (Diluted)	186	181	178	171	167	158
Shares Change (YoY)	4.50%	1.78%	4.03%	2.58%	5.27%	15.23%
EPS (Basic)	-0.06	-0.04	-0.16	-0.19	-0.23	0.28
EPS (Diluted)	-0.06	-0.04	-0.16	-0.19	-0.23	0.27
Free Cash Flow	-2.96	-2.45	-12.12	-11.52	-19.62	-1.52
Free Cash Flow Per Share	-0.02	-0.01	-0.07	-0.07	-0.12	-0.01
Gross Margin	37.04%	33.86%	27.88%	42.83%	40.01%	57.96%
Operating Margin	-53.33%	-41.46%	-240.87%	-122.02%	-55.82%	-7.32%
Profit Margin	-68.98%	-42.64%	-230.89%	-169.18%	-123.70%	234.98%
FCF Margin	-21.98%	-15.66%	-98.20%	-60.61%	-63.14%	-8.53%
EBITDA	-5.96	-4.89	-27.43	-20.84	-15.44	-0.64
EBITDA Margin	-44.22%	-31.24%	-222.20%	-109.60%	-49.68%	-3.61%
EBIT	-7.18	-6.49	-29.74	-23.2	-17.34	-1.3
EBIT Margin	-53.33%	-41.46%	-240.87%	-122.02%	-55.82%	-7.32%
Effective Tax Rate	-	0.00%	0.77%	-0.24%	1.89%	2.41%

Updated Sep 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.