Company: BCHT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001477932-25-005905
Chunk: 137

Company: Birchtech Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 137
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 activities was approximately $1,986,000 for the six months ended June 30, 2025 compared to net cash used by operating activities of approximately $3,123,000 for the six months ended June 30, 2024.  The decrease in net cash provided by operating activities was primarily due to the following: (i) a net loss of $3.2 million for the six months ended June 30, 2025 compared to net loss of $9.0 million for the six months ended June 30, 2024; and (ii) certain other changes in operating assets and liabilities including accounts receivable, inventory, prepaid expenses and other assets, accrued salaries, and accounts payable and accrued liabilities.

Investing Activities

The Company had net cash used in investing activities of approximately $16,000 for the six months ended June 30, 2025 for the purchase of lab equipment compared to net cash used in investing activities of approximately $66,000 for the six months ended June 30, 2024. During the six months ended June 30, 2024, we paid $66,274 to purchase a truck.

Financing Activities

Net cash used in financing activities was approximately $0 for the six months ended June 30, 2025 compared to approximately $9,312,000 used in financing activities for the six months ended June 30, 2024.   During the six months ended June 30, 2024, we repaid the remaining principal of approximately $272,000 on the AC Midwest secured note and approximately $9,040,000 of the principal remaining on the AC Midwest unsecured note. 

 32Table of Content

Critical Accounting Policies and Estimates

Our critical accounting policies and estimated are discussed in our Annual Report on Form 10-K for the year ended December 31, 2024, and there have been no material changes to such policies or estimates during the six months ended June 30, 2025. 

Non-GAAP Financial Measures

Adjusted EBITDA

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