BCHT · Birchtech Corp.
The latest filing states the doubt was alleviated.
“As disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, the Company had previously identified conditions that raised substantial doubt about its ability to continue as a going concern. Subsequent to year end, on February 27, 2026 and March 17, 2026 (following the partial exercise of the underwriters' overallotment option), the Company completed an underwritten public offering of its common stock and received aggregate gross proceeds of $16.4 million, before deducting underwriting discounts and commissions and offering expenses. Based on the net proceeds from the offering, together with the Company's existing cash, anticipated revenues and additional cash inflows from its current operations, management believes that the Company has sufficient liquidity to fund its operations and meet its obligations for at least the next twelve months and that the conditions giving rise to the previously disclosed substantial doubt have been alleviated.”View the 10-Q filed Aug 13, 2026
One customer — 47% of revenue (the three month period ended June 30, 2026)
“For the three month period ended June 30, 2026, two customers represented 47%, and 12% of the Company’s revenues”
2 customers — 37% of revenue (the six month period ended June 30, 2026)
“For the six month period ended June 30, 2026, two customers represented 37%, and 16% of the Company’s revenues”
One customer — 16% of revenue (the six month period ended June 30, 2026)
“For the six month period ended June 30, 2026, two customers represented 37%, and 16% of the Company’s revenues”
One customer — 12% of revenue (the three month period ended June 30, 2026)
“For the three month period ended June 30, 2026, two customers represented 47%, and 12% of the Company’s revenues”
One customer — 49% of receivables (At June 30, 2026)
“At June 30, 2026, two customers represented 49%, and 10% of the Company’s accounts receivable”
One customer — 10% of receivables (At June 30, 2026)
“At June 30, 2026, two customers represented 49%, and 10% of the Company’s accounts receivable”
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $19.18M | $17.63M | $17.41M | $17.63M | $21.62M | $13.01M | $8.16M | $11.42M | $12.3M | $27.5M | $32.35M | $12.63M | $2.79M | $1.67M | $788.07K | $458.08K | $7000 | — | |
| -$2.03M | — | — | — | — | — | — | — | — | -$2.15M | -$4.91M | -$6.21M | -$2.72M | -$711.65K | -$261.53K | -$54.26K | — | — | |
| $11.57M | $10.22M | $10.31M | $12.17M | $14.6M | $7.94M | $5.44M | $8.34M | $9.15M | $19.02M | $23.03M | $10.76M | $1.48M | $370.64K | $233.12K | $443.93K | — | — | |
| $7.61M | $7.4M | $7.1M | $5.45M | $7.02M | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| — | 41.99% | 40.8% | 30.94% | 32.48% | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| $2.08M | $1.81M | $0 | — | — | — | — | — | — | — | — | — | — | — | — | $764.05K | $125.83K | — | |
| $8.76M | $8.58M | $14.22M | $14.21M | $6.12M | $5.93M | $5.94M | $6.43M | $5.89M | $8.47M | $7.26M | $4.22M | $5.52M | $1.96M | $1.66M | $3.88M | $103.08K | — | |
| $204.6K | $204.6K | $204.6K | $205.53K | — | — | — | — | — | — | — | — | — | — | — | $5883 | $5882 | — | |
| — | — | $11.7K | $12.93K | $11.68K | $68.46K | $188.68K | $314.91K | $456.91K | $748.02K | $463.87K | $125.85K | $250.26K | $170.51K | $411.85K | $16.74K | — | — | |
| $10.89M | $10.43M | $14.26M | $14.43M | $6.12M | — | — | — | — | — | — | $1.81M | $904.91K | $886.95K | $263.14K | $255.03K | — | — | |
| $23.2M | — | — | — | $23.18M | $16.62M | $13.97M | $17.5M | $17.09M | $29.86M | $30.29M | $16.32M | $9.27M | $5.89M | $4.77M | $9.88M | — | — | |
| -$3.27M | -$3.03M | -$7.16M | -$8.97M | $903.99K | — | — | — | $2.8M | $11.05K | $2.06M | -$3.69M | -$6.48M | -$4.22M | -$3.98M | -$9.42M | -$471.57K | — | |
| — | -17.19% | -41.12% | -50.91% | 4.18% | — | — | — | 22.77% | 0.04% | 6.36% | -29.2% | -231.84% | -253.08% | -504.65% | -2055.84% | -6736.64% | — | |
| — | — | -$7.15M | -$8.96M | $915.67K | — | — | — | $3.26M | $759.07K | $2.52M | -$3.56M | -$6.23M | -$4.05M | -$3.57M | -$9.4M | — | — | |
| $13.62K | $13.67K | $267.46K | $1.36M | $1.57M | $2.82M | $41.43K | $40.75K | $1.98M | $2.15M | — | — | $984 | — | — | — | — | — | |
| -$834.59K | $74.36K | -$3.93M | $15.11M | -$2.47M | — | — | — | — | — | — | — | — | — | — | -$54.26K | — | — | |
| — | — | — | — | $95.5K | — | — | — | $44.04K | — | — | — | — | — | — | — | — | — | |
| -$4.11M | -$2.96M | -$11.09M | $6.14M | -$1.56M | -$3.61M | -$5.82M | -$6.08M | -$4.79M | — | — | — | — | — | — | — | — | — | |
| $59.27K | $70.05K | -$289.16K | $473.21K | $18K | $23K | $10K | $14K | -$22.15K | $540.42K | -$472.67K | $41.15K | — | — | — | — | — | — | |
| -$4.17M | -$3.03M | -$10.8M | $5.67M | -$1.58M | -$3.63M | -$5.83M | -$6.1M | -$4.82M | -$2.9M | -$15.62M | -$14.26M | -$5.01M | -$4.85M | -$3.88M | -$9.5M | -$471.57K | -$30.75K | |
| — | -17.17% | -62.06% | 32.16% | -7.31% | -27.92% | -71.41% | -53.41% | -39.17% | -10.56% | -48.28% | -112.9% | -179.21% | -290.9% | -492.09% | -2073.24% | -6736.64% | — | |
| — | — | -$10.8M | $5.67M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| USD/shares | — | — | -$0.55 | $0.30 | -$0.10 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| USD/shares | — | -$0.16 | -$0.57 | $0.30 | -$0.10 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| shares | — | 19.32M | 19.06M | 18.83M | 18.01M | — | 15.56M | 15.31M | 15.23M | 15.01M | 10.13M | 8.83M | 7.83M | 6.86M | 6.63M | 5.87M | — | — |
| shares | — | 19.32M | 19.06M | 19.49M | 18.01M | — | 15.56M | 15.31M | 15.23M | — | — | — | — | — | — | — | — | — |
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
Peer medians compare against the 10 similar-size Pollution & Treatment Controls companies (of 17 listed).
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Product Revenue | $14,233,056 | $14,481,784 | $17,092,996 | — | — |
| License Revenue | $3,159,375 | $2,808,125 | $387,500 | — | — |
| License | $3,125,000 | $2,773,750 | — | — | — |
| Equipment Revenue | $140,750 | $80,276 | $54,874 | — | — |
| Demonstrations Consulting Revenue | $93,185 | $36,000 | $90,000 | — | — |
| United State | — | — | — | — | $13,012,049 |
| Demonstrations Consulting Revenue | — | — | — | $108,000 | — |
| Equipment Revenue | — | — | — | $216,777 | — |
| License Revenue | — | — | — | $650,938 | — |
| Product Revenue | — | — | — | $20,644,438 | — |