Company: BCHT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003808
Chunk: 43

Company: Birchtech Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 be modified, suspended or terminated at any time without notice. During the three months ended March 31, 2025, there were no repurchases made under the program.

Results of Operations 

Revenues

We generated revenues of approximately $3,221,000 and $3,242,000 for the three months ended March 31, 2025 and 2024, respectively. Such revenues were primarily derived from sorbent product sales which were approximately $2,677,000 and $3,084,000 for three months ended March 31, 2025 and 2024, respectively. Revenues can be dependent on natural gas prices, extreme weather, and the maintenance and downtime requirements of customer plants. The decrease in revenues from the prior year was primarily due to the mix of plants running and products sold in the first three months of 2025 resulting in decreased product revenues for the quarter ended March 31, 2025 compared to the prior year period, offset by an increase in licensing revenues for the three months ended March 31, 2025 compared to March 31, 2024.  

Licensing revenues were approximately $525,000 and $141,000 for the three months ended March 31, 2025 and 2024, respectively. Such increase was primarily due to a new licensing agreement which was entered into during the three months ended March 31, 2025 with a utility.  

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Equipment sales and other revenues for the three months ended March 31, 2025 and 2024 were approximately $19,000 and $17,000, respectively. Other revenues were comparable for the periods ended March 31, 2025 and 2024. 

Cost of Sales 

Cost of sales were approximately $1,987,000 and $2,113,000 for the three months ended March 31, 2025 and 2024, respectively. The decrease in cost of sales of approximately $127,000 was primarily attributable to decreased product sales in the first three months of 2025 compared to the prior year period, together with a change in the mix of products sold in the first quarter of 2025 compared to the first quarter of 2024.  

Gross Profit

Gross profit was approximately $1,234,000 and $1,128,000 for the three months ended March 31, 2025 and 2024, respectively.  This increase in gross profit of