Company: BCHT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002237
Chunk: 793

Company: Birchtech Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 793
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DA 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 years ended December 31, 2024 and 2023, respectively:  

  For the Year Ended   December 31, 2024  December 31, 2023(as restated)   (In thousands)        Net income (loss) $(10,802 ) $5,668          Non-GAAP adjustments:        Depreciation and amortization  248   259 Interest   267   1,362 Change in fair value of profit share  3,959   11,210 Impairment of property and equipment  43   220 Income Taxes  (289 )  473 Stock based compensation  1,089   520          Adjusted EBITDA $(5,485 ) $19,712 

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

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Item 8. Financial Statements and Supplementary Data

BIRCHTECH CORP. AND SUBSIDIARIES

(formerly Midwest Energy Emissions Corp.)

Index to Financial Information

Years Ended December 31, 2024 and 2023

 Page  Consolidated Financial Statements      Report of Independent Registered Public Accounting Firm – Rosenberg Rich Baker Berman, P.A. (PCAOB ID 89) F-1  Consolidated Balance Sheets F-3     Consolidated Statements of Operations F-4     Consolidated Statements of Stockholders’ Deficit F-5     Consolidated Statements of Cash Flows F-6     Notes to Consolidated Financial Statements F-7 

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REPORT OF INDEPEND