CORSICANA, Texas, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Birchtech Corp. (NYSE American: BCHT) (TSX: BCHT) (“Birchtech” or the “Company”), a leader in specialty activated carbon technologies for sustainable air and water treatment, today reported financial results for the second quarter ended June 30, 2026.
Key Second Quarter 2026 & Subsequent Operational Highlights
- Announced the end of all remaining attempts to challenge the Company’s patents under Inter Partes Review (IPR), with every petition filed with the Patent Trial and Appeal Board (PTAB) against Birchtech’s patented SEA® mercury emissions removal technology now dismissed, removed prior to institution, or resolved, and all parties previously involved permanently barred from bringing further patent validity challenges.
- The Company's $78+ million final judgment in its patent infringement litigation remains outstanding, is currently on appeal, and continues to accrue post-judgment interest.
- Appointed respected financial executive Michael Mioska, CPA, MBA, as Chief Financial Officer in May 2026, succeeding Fiona Fitzmaurice.
- Promoted Jim Trettel to Chief Operating Officer; Mr. Trettel joined the Company in 2014, most recently served as Executive Vice President of Operations, and now oversees Birchtech’s corporate operations across both its clean air and clean water platforms.
- Exhibited at leading industry and investor conferences, including the AWWA ACE26 Annual Conference & Exposition, the Pennsylvania Section AWWA Technical Conference, the ASMS 2026 Conference and the Noble Capital Markets Emerging Growth Conference.
Management Commentary
Richard MacPherson, Birchtech President and Chief Executive Officer, commented: “In our water business, we continued to execute on our ‘data-first’ strategy and put our platform in front of the industry at scale, showcasing our Design Center analytical services, RSSCT testing, SEA-IX™ nuclear-grade ion exchange resin line and granular activated carbon solutions at leading water industry conferences during the quarter, including AWWA ACE26 in Washington, D.C., the largest national gathering of water professionals. We continue to make meaningful progress towards establishing our Carbon Rejuvenation capacity and look forward to providing further updates to that end in the near-term.
“In addition, in June, the final remaining IPR petitions challenging our patents were terminated, ending failed attempts to invalidate our patented SEA® technology, with all parties previously involved permanently barred from bringing further validity challenges. With our patent estate secured, we are determined in our pursuit of the enforcement of the final judgment, approximately $78+ million, on which post-judgment interest continues to accrue. We are also committed to convert our licensed utilities into long-term product supply customers.
“We also strengthened our leadership team during the quarter, welcoming Michael Mioska as Chief Financial Officer in May and promoting Jim Trettel to Chief Operating Officer. Jim’s deep technical expertise and hands-on operational leadership have been instrumental in scaling both our air and water treatment platforms. With a strong balance sheet, a protected patent portfolio, and two complementary business lines reinforcing each other, Birchtech is well positioned to deliver sustained growth and long-term value for my fellow shareholders,” concluded MacPherson.
Second Quarter 2026 Financial Results
Revenues totaled $3.8 million in the second quarter of 2026, as compared to $3.3 million in the same year-ago quarter. The increase in revenues from the prior period was primarily due to increased air business demand driven by the mix of plants running combined with more extreme weather conditions, and higher natural gas prices in the current year compared to the prior year period. Additionally, sales were recognized for the water treatment market in 2026 compared to none in 2025.
Gross profit totaled $1.0 million as compared to $1.0 million in the same year-ago quarter. Gross profit was comparable to the prior period despite higher revenues as a result of a shift in revenues mix away from licensing revenues in 2025 which typically carry higher margins.
SG&A expenses totaled $2.1 million in the second quarter of 2026, as compared to $1.7 million in the same year-ago quarter. The increase in expenses was primarily due to increased professional fees driven by increased legal fees in 2026 and increased public company costs associated with the company’s uplisting to the NYSE American.
R&D expenses totaled $0.6 million in the second quarter of 2026, as compared to $0.5 million in the same year-ago quarter. R&D expenses relate to research conducted to develop water treatment products utilizing new sorbent technologies.
Other expenses totaled $1.4 million in the second quarter of 2026, as compared to $0.4 million in the same year-ago quarter. Other expenses consisted mainly of license and settlement fees and a loss on the change in the fair value of the profit share.
Net loss for the second quarter of 2026 totaled $3.0 million, or $0.11 per basic and diluted share, as compared to net loss of $1.5 million, or $0.08 per basic and diluted share, in the same year-ago quarter.
Adjusted EBITDA totaled a loss of ($1.9) million for the three months ended June 30, 2026, as compared to a loss of ($1.0) million during the three months ended June 30, 2025.
Cash as of June 30, 2026, totaled $11.8 million, with no debt, as compared to $2.2 million as of December 31, 2025.
Second Quarter 2026 Earnings Conference Call
Management will host an investor conference call at 5:00 p.m. Eastern time today, Thursday, August 13, 2026, to discuss Birchtech's second quarter 2026 financial results and provide a corporate update. To participate, please use the following information:
Second Quarter 2026 Earnings Conference Call
Date: Thursday, August 13, 2026
Time: 5:00 p.m. Eastern time
U.S./Canada Dial-in: 1-877-407-0792
International Dial-in: 1-201-689-8263
Conference ID: 13761823
Webcast: BCHT Q2 2026 Earnings Conference Call
Please dial in at least 10 minutes before the start of the call to ensure timely participation.
A telephone playback of the call will be available through Thursday, September 3, 2026. To listen, call 1-844-512-2921 within the United States and Canada or 1-412-317-6671 when calling internationally, using replay pin number 13761823. A webcast replay will be available for one year, using the webcast link above.
About Birchtech Corp.
Birchtech Corp. (NYSE American: BCHT) (TSX: BCHT) is a leader in specialty activated carbon technologies, delivering innovative solutions for air and water purification to support a cleaner, more sustainable future. The Company provides patented SEA® sorbent technologies for mercury emissions capture for the coal-fired utility sector and disruptive water purification technologies with a specialization on removing contaminants, including ‘forever chemicals’ such as PFAS, from potable water and industrial wastewater. Backed by a strong intellectual property portfolio and a team of activated carbon experts, Birchtech provides cleaner air to North American communities and is applying this expertise to a novel approach in water purification. To learn more, please visit www.birchtech.com.
Non-GAAP Financial Measures
To supplement our consolidated financial statements presented in accordance with GAAP and to provide investors with additional information regarding our financial results, we consider and are including herein Adjusted EBITDA, a Non-GAAP financial measure. We view Adjusted EBITDA as an operating performance measure and, as such, we believe that the GAAP financial measure most directly comparable to it is net income (loss). We define Adjusted EBITDA as net income adjusted for interest and financing fees, income taxes, depreciation, amortization, stock-based compensation, and other non-cash income and expenses. We believe that Adjusted EBITDA provides us an important measure of operating performance because it allows management, investors, debtholders and others to evaluate and compare ongoing operating results from period to period by removing the impact of our asset base, any asset disposals or impairments, stock-based compensation and other non-cash income and expense items associated with our reliance on issuing equity-linked debt securities to fund our working capital.
Our use of Adjusted EBITDA has limitations as an analytical tool, and this measure should not be considered in isolation or as a substitute for an analysis of our results as reported under GAAP, as the excluded items may have significant effects on our operating results and financial condition. Additionally, our measure of Adjusted EBITDA may differ from other companies’ measure of Adjusted EBITDA. When evaluating our performance, Adjusted EBITDA should be considered with other financial performance measures, including various cash flow metrics, net income and other GAAP results. In the future, we may disclose different non-GAAP financial measures in order to help our investors and others more meaningfully evaluate and compare our future results of operations to our previously reported results of operations.
The following table shows our reconciliation of net income (loss) to Adjusted EBITDA for the three months ended June 30, 2026, and 2025, respectively:
| For the Three Months Ended | ||||||||
| June 30, | June 30, | |||||||
| 2026 | 2025 | |||||||
| (In thousands) | ||||||||
| Net income (loss) | $ | (3,017 | ) | $ | (1,542 | ) | ||
| Non-GAAP adjustments: | ||||||||
| Depreciation and amortization | 110 | 105 | ||||||
| Change in fair value of profit share | 258 | 377 | ||||||
| Contingent license and settlement fee | 750 | - | ||||||
| Stock based compensation | - | 20 | ||||||
| Adjusted EBITDA | $ | (1,899 | ) | $ | (1,040 | ) | ||
Safe Harbor Statement
With the exception of historical information contained in this press release, content herein may contain “forward-looking statements” that are made pursuant to the Safe Harbor Provisions of the U.S. Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements are generally identified by using words such as “anticipate,” “believe,” “plan,” “expect,” “intend,” “will,” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. Forward-looking statements in this release include statements relating to expected developments and growth in Birchtech’s business. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. In addition, this release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Birchtech does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance or other forward-looking statements contained in this release can be found in Birchtech’s periodic filings with the Securities and Exchange Commission or Canadian securities regulators.
Investor Relations Contact:
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
(949) 259-4987
BCHT@mzgroup.us
www.mzgroup.us
