Canada's PyroGenesis Q3 revenue slips 5% as biogas and SPARC sales decline
PyroGenesis reported Q3 revenue of C$3.07 mln, down 5% year on year, while gross margin rose to 35% from 24%, according to a Reuters report based on LSEG data.
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what happened
Canadian plasma technology company PyroGenesis posted third-quarter revenue of C$3.07 mln, down 5% from a year earlier. Gross margin widened to 35% from 24% in the same period, according to Reuters, which cited LSEG and company data.
The decline came mainly from biogas upgrading and pollution control, where revenue fell by C$1.0 mln because fewer project phases were completed than in the third quarter of 2025. Torch-related sales rose by C$0.5 mln, while SPARC-related sales dropped by C$0.3 mln after major deliveries and commissioning took place earlier in the year.
PyroGenesis also completed the acquisition of a 50% stake in HPQ Silica Polvere Inc. The company is not giving specific revenue or net income guidance for 2026.
why it matters
For markets this is routine reporting from a small company, with no 2026 targets to anchor expectations. Investors will likely focus on the margin improvement despite lower revenue and on how the new stake in HPQ Silica Polvere contributes in coming quarters.
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- Canada's PyroGenesis Q3 revenue falls as biogas, SPARC sales drop — Reuters, 13 November 2026 at 01:11 UTC
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