Company: BCHT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001477932-25-005905
Chunk: 65

Company: Birchtech Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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, 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 and six months ended June 30, 2025 and 2024, respectively:

  For the Three Months Ended  For the Six Months Ended   June 30,  June 30,  June 30,  June 30,   2025  2024  2025  2024   (In thousands)  (In thousands)              Net loss $(1,542 ) $(6,147 ) $(3,221 ) $(9,002 )                 Non-GAAP adjustments:                Depreciation and amortization  105   58   176   120 Interest  -   6   -   252 Change in fair value of profit share  377   2,690   729   2,955 Income taxes  -   -   -   - Stock based compensation  20   137   80   907                  Adjusted EBITDA $(1,040 ) $(3,256 ) $(2,236 ) $(4,768 )

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