Company: BCHT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001477932-25-008185
Chunk: 69

Company: Birchtech Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 69
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30, 2025 and 2024, respectively, and $1,335,000 and $0 for the nine months ended September 30, 2025 and 2024, respectively. R&D expenses relate to research conducted to develop water treatment products utilizing new sorbent technologies, and increased in the first nine months of 2025 compared to the prior year period as the Company had not incurred any research related costs during the first nine months of 2024. The Company began incurring research and development costs when the lab equipment at the Company’s labs was placed into service.

Operating Income (Loss)

Our operating income was approximately $811,000 for the three months ended September 30, 2025 compared to a loss of $1,107,000 for the three months ended September 30, 2024. For the nine months ended September 30, 2025 and 2024, we had an operating loss of approximately $1,717,000 and $7,079,000, respectively. Such decrease in operating loss was primarily due to our increased license fee revenue in 2025 compared to 2024 coupled with a decrease in total operating expenses during the first nine months of 2025 as discussed above.

Other Income (Expense)

Interest expense related to the financing of capital was approximately $Nil and $7,000 for the three months ended September 30, 2025 and 2024, respectively, and $54 and $259,000 for the nine months ended September 30, 2025 and 2024, respectively. The approximate breakdown of interest expense for the three and nine months ended September 30, 2025 and 2024 is as follows:

  Three Months Ended  Nine Months Ended   September 30,  September 30,   2025  2024  2025  2024   (In thousands)  (In thousands)              Interest expense on notes payable $-  $-  $-  $4 Amortization of discount of notes payable  -   -   -   242 Other interest  -   7   -   13                    $-  $7  $-  $259 

Gain (Loss) on change in fair value of profit share liability and unsecured note was approximately $(38,000) and $282,000 for the three months ended