$BCHT

Birchtech Corp.

CIK:0000728385|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Product revenue	$ 3,466,203	$ 3,244,446	$ 7,654,123	$ 5,921,430
License revenue	0	0	0	525,000
Other revenue	324,449	9,465	376,463	28,492
Revenues	3,790,652	3,253,911	8,030,586	6,474,922
Cost of sales	(2,758,131)	(2,285,833)	(5,615,359)	(4,272,498)
Gross profit	1,032,521	968,078	2,415,227	2,202,424
Operating expenses:
Research and development expenses	(587,433)	(455,485)	(1,138,011)	(862,161)
Selling, general and administrative expenses (related party of $112,966, $112,500, $351,883 and $225,000)	(2,067,740)	(1,697,940)	(4,049,213)	(3,868,563)
Total operating expenses	(2,655,173)	(2,153,425)	(5,187,224)	(4,730,724)
Operating loss	(1,622,652)	(1,185,347)	(2,771,997)	(2,528,300)
Other income (expense)
Interest expense	0	0	0	(54)
Loss on change in fair value of profit share and unsecured note	(257,323)	(375,697)	(503,004)	(729,048)
License and settlement fees	(1,250,000)	0	(1,250,000)	0
Interest income	115,928	19,537	165,768	50,810
Total other income (expense)	(1,391,395)	(356,160)	(1,587,236)	(678,292)
Loss before provision for income taxes	(3,014,047)	(1,541,507)	(4,359,233)	(3,206,592)
Income tax expense	(3,409)	(409)	(3,766)	(14,544)
Net loss	$ (3,017,456)	$ (1,541,916)	$ (4,362,999)	$ (3,221,136)
Net loss per common share - basic and diluted	$ (0.11)	$ (0.08)	$ (0.18)	$ (0.17)
Weighted average common shares outstanding	26,305,966	19,251,239	24,051,270	19,247,622

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (4,362,999)	$ (3,221,136)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	427	79,955
Amortization of right to use assets	25,541	22,367
Amortization of patent rights	102,300	102,300
Depreciation expense	87,320	51,462
Non-cash interest revenue	(11,551)	(19,703)
Loss on change in fair value of profit share	503,004	729,048
Changes in operating assets and liabilities
Accounts receivable	(523,467)	(317,528)
Inventory	(7,734)	(209,086)
Prepaid expenses and other assets	(617,574)	71,900
Accrued salaries	11,133	2,606
Accounts payable and accrued liabilities	(178,755)	742,694
Operating lease liability	(24,508)	(20,626)
Net cash used in operating activities	(4,996,863)	(1,985,747)
Cash flows used in investing activities
Purchase of property and equipment	(122,189)	(16,266)
Net cash used in investing activities	(122,189)	(16,266)
Cash flows from financing activities
Proceeds from the issuance of common shares	16,440,000	0
Share issuance costs	(1,730,133)	0
Net cash provided by financing activities	14,709,867	0
Net increase (decrease) in cash and cash equivalents	9,590,815	(2,002,013)
Cash and cash equivalents - beginning of period	2,245,426	3,456,082
Cash and cash equivalents - end of period	11,836,241	1,454,069
Cash paid during the period for:
Interest	0	0
Income taxes	3,766	14,135
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING ACTIVITIES
Deferred financing costs reclassified to APIC upon issuance of common shares	$ 481,250	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash	$ 11,836,241	$ 2,245,426
Accounts receivable	2,634,659	2,099,641
Inventory	455,820	448,086
Prepaid expenses and other assets	827,982	210,408
Total current assets	15,754,702	5,003,561
Security deposits	6,615	6,615
Deferred offering costs	0	481,250
Property and equipment, net	2,227,312	2,192,443
Right of use asset - operating lease	233,445	258,986
Intellectual property, net	1,192,563	1,294,863
Total assets	19,414,637	9,237,718
Current liabilities
Accounts payable and accrued expenses (related party $49,336 and $37,500 at June 30, 2026 and December 31, 2025, respectively)	3,431,298	3,610,053
Income tax payable	32,190	32,190
Current portion of operating lease liability	55,338	51,158
Customer credits	167,000	167,000
Accrued salaries	43,094	31,961
Profit share liability - related party	7,350,936	6,847,932
Total current liabilities	11,079,856	10,740,294
Operating lease liability, net of current portion	183,644	212,332
Total liabilities	11,263,500	10,952,626
Stockholders' equity (deficit)
Preferred stock, $0.001 par value: 2,000,000 shares authorized, no shares issued	0	0
Common stock, $0.001 par value; 150,000,000 shares authorized, 26,305,966 and 19,455,966 shares issued and outstanding as of June 30, 2026 and December 31, 2025 respectively.	26,306	19,456
Additional paid-in capital	88,267,073	74,044,879
Accumulated deficit	(80,142,242)	(75,779,243)
Total stockholders' equity (deficit)	8,151,137	(1,714,908)
Total liabilities and stockholders' equity (deficit)	$ 19,414,637	$ 9,237,718