PyroGenesis Canada (PYR) AI Stock Analysis

• Market Cap: C$41.35M
• Dividend Yield: N/A
• Average Volume (3M): 239.86K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.71
• Revenue Growth: -6.83%
• EPS Growth: 46.97%
• Country: CA
• Employees: 107
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): -0.01
• Shares Outstanding: 187,940,110
• 10 Day Avg. Volume: 169,938
• 30 Day Avg. Volume: 239,860
• PEG Ratio: 0.19
• Price to Book (P/B): -27.46
• Price to Sales (P/S): 6.08
• P/FCF Ratio: -38.81
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: C$0.00 ▼(-100.00% Downside)

The overall stock score is primarily impacted by poor financial performance, characterized by declining revenues, significant losses, and a highly leveraged balance sheet. Technical analysis indicates a bearish trend, and valuation metrics are unattractive due to ongoing losses. While the earnings call highlighted some positive developments, they are insufficient to offset the broader financial challenges.

Positive Factors

Strong Backlog

A strong backlog indicates a solid pipeline of future revenue, providing visibility and stability in cash flow over the next few years.

Contract with Constellium

This contract signifies strategic partnerships and potential for recurring revenue, enhancing PyroGenesis' market position in industrial applications.

Fumed Silica Reactor Progress

Advancements in fumed silica production can lead to new product offerings, expanding PyroGenesis' market reach and revenue streams.

Negative Factors

Declining Revenue

Declining revenue reflects challenges in maintaining sales momentum, which can impact long-term growth and profitability.

Reduced Gross Margin

A reduced gross margin indicates increased costs or pricing pressures, potentially affecting the company's ability to sustain profitability.

Challenges in Titanium Metal Powders

Certification delays hinder product rollout and revenue generation, impacting growth in the titanium metal powder segment.

PyroGenesis Canada Business Overview & Revenue Model

Company Description

PyroGenesis Canada Inc. designs, develops, manufactures, and commercializes plasma processes and systems in Canada and internationally. It offers DROSRITE, a process for enhancing metal recovery from dross without any hazardous by-products, targeting primarily the aluminum and zinc industries; PUREVAP, a process to produce high purity metallurgical and solar grade silicon from quartz; and PUREVAP Nano Silicon Reactor, which is designed to transform silicon into spherical silicon powders and silicon nanowires for use in lithium-ion batteries. The company also provides plasma torches, including APT high-powered plasma torch for replacing fossil fuel burners. In addition, it offers plasma arc waste destruction systems for waste destruction onboard ships; steam plasma arc refrigerant cracking systems for the destruction of certain refrigerants, including chlorofluorocarbons, hydrofluorocarbons, and hydrochlorofluorocarbons; plasma arc chemical warfare agent destruction systems, which are mobile platforms for the onsite destruction of chemical warfare agents; plasma resource recovery systems for land-based waste destruction and waste-to-energy applications; plasma torches for waste gasification and combustion; and plasma arc gasification and vitrification. Further, the company provides engineering and manufacturing expertise, and contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (including 3D printing), oil and gas, and environmental industries. Additionally, it offers installation, commissioning, and start-up services. The company is headquartered in Montréal, Canada.

How the Company Makes Money

PyroGenesis generates revenue through several key streams, primarily by selling its advanced materials and services. The company earns money by producing and supplying high-quality metal powders used in additive manufacturing and other industrial applications. Additionally, PyroGenesis offers waste management solutions, turning hazardous waste into reusable materials, which not only reduces disposal costs for clients but also provides a new revenue stream for the company. The company also engages in contract manufacturing and licensing agreements for its proprietary plasma technologies. Significant partnerships and collaborations with major players in the aerospace and defense sectors further contribute to its earnings, as these alliances often lead to long-term contracts and increased demand for its innovative solutions.

PyroGenesis Canada Financial Statement Overview

Summary

PyroGenesis Canada is facing financial difficulties with declining revenues, significant losses, and a highly leveraged balance sheet. The negative equity and cash flow challenges highlight the need for strategic financial restructuring to improve stability and profitability.

Income Statement

PyroGenesis Canada has faced declining revenue with a negative growth rate of -6.15% in the TTM period. The company is experiencing significant losses, reflected in a negative net profit margin of -42.64% and negative EBIT and EBITDA margins. These metrics indicate ongoing challenges in achieving profitability and managing operational costs effectively.

Balance Sheet

The balance sheet shows a concerning negative stockholders' equity, leading to an unfavorable debt-to-equity ratio of -2.60. The return on equity is positive due to negative equity, which is misleading. The company is highly leveraged, which poses significant financial risk.

Cash Flow

Cash flow analysis reveals negative operating and free cash flows, with a high free cash flow to net income ratio of 1.20, indicating cash flow issues despite accounting profits. The free cash flow growth rate is positive, but the overall cash flow situation remains weak, impacting liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	14.22M	15.65M	12.35M	19.01M	31.07M	17.78M
Gross Profit	5.89M	5.30M	3.44M	8.14M	12.43M	10.30M
EBITDA	-8.23M	-5.99M	-25.57M	-29.55M	-36.80M	42.68M
Net Income	-10.87M	-6.67M	-28.50M	-32.17M	-38.43M	41.77M
Balance Sheet
Total Assets	21.96M	29.20M	28.44M	47.67M	69.77M	74.53M
Cash, Cash Equivalents and Short-Term Investments	1.20M	2.98M	1.80M	3.45M	12.20M	18.10M
Total Debt	8.65M	9.01M	9.20M	6.92M	5.51M	3.10M
Total Liabilities	30.50M	32.66M	31.26M	30.80M	29.00M	15.11M
Stockholders Equity	-8.54M	-3.46M	-2.83M	16.87M	40.77M	59.42M
Cash Flow
Free Cash Flow	-6.26M	-2.45M	-12.12M	-11.82M	-19.86M	-1.63M
Operating Cash Flow	-5.92M	-2.10M	-12.05M	-11.13M	-18.11M	-814.99K
Investing Cash Flow	1.06M	1.66M	3.05M	-368.18K	2.72M	4.93M
Financing Cash Flow	2.59M	1.52M	7.37M	2.64M	9.47M	13.98M

PyroGenesis Canada Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.19
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PYR, the sentiment is Negative. The current price of 0.19 is below the 20-day moving average (MA) of 0.20, below the 50-day MA of 0.22, and below the 200-day MA of 0.39, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 42.77 is Neutral, neither overbought nor oversold. The STOCH value of 52.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:PYR.

PyroGenesis Canada Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TLA	65 Neutral	C$13.83M	20.41	-2.57%	―	-1.50%	-180.73%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
REKO	59 Neutral	C$22.00M	21.12	2.50%	―	-4.79%	―
BLDP	42 Neutral	$1.14B	―	-18.07%	―	1.18%	62.71%
PYR	41 Neutral	C$41.35M	-3.77	―	―	-6.83%	46.97%
NXH	40 Underperform	C$13.75M	-1.11	―	―	46.49%	42.37%
DYA	38 Underperform	C$63.54M	-4.86	-2067.79%	―	-48.39%	9.17%

PyroGenesis Canada Corporate Events

PyroGenesis Reports Q3 2025 Results, Highlights New Contracts and Technological Advancements

PyroGenesis Canada announced its third-quarter 2025 financial results, highlighting new opportunities and advancements in its technology offerings. The company secured a $1.2 million contract with the cement industry and made significant progress with its fumed silica reactor project, indicating a strong focus on expanding its market reach and commercial readiness. Despite a decrease in revenue and gross margin compared to the previous year, PyroGenesis continues to evolve its market strategy and remains committed to innovation, positioning itself for future success.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis to Discuss Q3 2025 Financial Results and Business Updates

PyroGenesis Inc. has announced a conference call scheduled for November 12, 2025, to discuss its financial results for the third quarter of 2025 and provide updates on company progress and developments. This announcement is significant as it offers stakeholders insights into the company’s financial health and operational advancements, potentially impacting its market positioning and investor confidence.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis Completes First Tranche of Private Placement, Raising $822,000

PyroGenesis Canada has successfully closed the first tranche of the Second Unit Group of its non-brokered private placement, raising approximately $822,000. The funds will be used for working capital and general corporate purposes. This tranche was slightly oversubscribed, and the company plans to close both Unit Groups next week, pending final approval from the TSX. The private placement reflects PyroGenesis’ ongoing efforts to strengthen its financial position and support its operations in the heavy industry and defense sectors.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis Announces Warrant Repricing and Extension

PyroGenesis Inc. announced the repricing and extension of up to 1,581,250 common share purchase warrants, reducing the exercise price from $1.20 to $0.63 and extending the expiration date to July 17, 2026. This strategic move, approved by the TSX, aims to enhance financial flexibility and support general corporate purposes, potentially impacting the company’s market positioning by making warrant exercise more attractive to holders.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis Completes $3.5 Million Private Placement to Bolster Financial Position

PyroGenesis Canada has successfully closed the first tranche of a non-brokered private placement, raising approximately $3.5 million through the sale of 5,555,556 units. The funds will be used for working capital and general corporate purposes, with the private placement conditionally approved by the TSX. This move is expected to strengthen PyroGenesis’ financial position, aiding its continued innovation and market presence in the heavy industry and defense sectors.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis Secures $3.5 Million in Private Placement First Tranche

PyroGenesis Canada has successfully closed the first tranche of its non-brokered private placement, raising approximately $3.5 million through the sale of 5,555,556 units. Each unit comprises one common share and one warrant, with the proceeds intended for working capital and general corporate purposes. The company’s president and CEO, P. Peter Pascali, personally invested in the entire tranche, highlighting confidence in the company’s strategic direction. The private placement is conditionally approved by the TSX, pending final approval and customary closing conditions.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis Clarifies Misleading Online Post About Private Placement

PyroGenesis Inc. recently addressed an erroneous online post by a board member concerning its ongoing non-brokered private placement. The post incorrectly suggested that the private placement was oversubscribed, bringing in $7.5-$8.0 million. The company clarified that the private placement is not officially oversubscribed and is ongoing, with the first tranche expected to complete soon. PyroGenesis emphasizes its commitment to timely disclosure and corporate governance, having taken corrective action regarding the situation.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis Announces Strategic Private Placement to Strengthen Financial Position

PyroGenesis Inc. announced a non-brokered private placement, conditionally approved by the Toronto Stock Exchange, to raise funds for working capital and general corporate purposes. The placement includes two unit groups, with CEO P. Peter Pascali expected to invest significantly. This move is anticipated to bolster PyroGenesis’ financial position and support its ongoing operations and strategic initiatives.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis Announces Strategic Private Placement to Bolster Financial Position

PyroGenesis Inc. announced a non-brokered private placement, conditionally approved by the Toronto Stock Exchange, to raise funds for working capital and general corporate purposes. The placement consists of two unit groups, with the CEO expected to invest significantly in the first group, highlighting confidence in the company’s strategic direction. The move is anticipated to strengthen PyroGenesis’ financial position, supporting its continued innovation and market leadership in high-temperature engineering solutions.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis Achieves Major Milestone in Fumed Silica Production

PyroGenesis has announced significant advancements in its fumed silica reactor pilot plant, achieving a threefold increase in material surface area and substantial improvements in impurity reduction and yield. These results bring the system closer to commercial readiness, with the company replicating lab-scale results at a rapid pace, indicating a promising scale-up potential for industrial applications.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.

PyroGenesis Secures $1.2 Million Contract to Revolutionize Cement Industry Emissions

PyroGenesis Inc. has secured a $1.2 million contract with a European cement industry customer to supply a plasma torch system for a calcination furnace. This initiative is part of the company’s strategy to expand into high-temperature industrial processes and supports the cement industry’s goals to reduce greenhouse gas emissions. By replacing fossil fuel-based heating with plasma torches, PyroGenesis aims to drive significant decarbonization and efficiency improvements in cement production, which is responsible for a substantial portion of global emissions.

The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.