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Side-by-side financial comparison of PureCycle Technologies, Inc. (PCT) and SES AI Corp (SES). Click either name above to swap in a different company.
SES AI Corp is the larger business by last-quarter revenue ($4.6M vs $2.7M, roughly 1.7× PureCycle Technologies, Inc.). SES AI Corp runs the higher net margin — -373.5% vs -697.1%, a 323.7% gap on every dollar of revenue. SES AI Corp produced more free cash flow last quarter ($-11.1M vs $-42.0M).
PureCycle Technologies, Inc. is a sustainable materials firm with proprietary advanced polypropylene recycling technology. It converts contaminated polypropylene waste into high-purity virgin-equivalent resin for use in consumer goods, automotive parts, packaging and industrial products, serving global partners.
SES S.A. is a Luxembourgish communications satellite operator supplying video and data connectivity worldwide to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions.
PCT vs SES — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7M | $4.6M |
| Net Profit | $-18.8M | $-17.0M |
| Gross Margin | — | 11.3% |
| Operating Margin | -2196.1% | -387.7% |
| Net Margin | -697.1% | -373.5% |
| Revenue YoY | — | — |
| Net Profit YoY | 71.0% | 50.7% |
| EPS (diluted) | $-0.14 | $-0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.7M | $4.6M | ||
| Q3 25 | $2.4M | $7.1M | ||
| Q2 25 | $1.6M | $3.5M | ||
| Q1 25 | $1.6M | $5.8M | ||
| Q4 24 | $0 | — | ||
| Q3 24 | $0 | — | ||
| Q2 24 | $0 | — | ||
| Q1 24 | $0 | — |
| Q4 25 | $-18.8M | $-17.0M | ||
| Q3 25 | $-28.4M | $-20.9M | ||
| Q2 25 | $-144.2M | $-22.7M | ||
| Q1 25 | $8.8M | $-12.4M | ||
| Q4 24 | $-64.7M | — | ||
| Q3 24 | $-90.6M | — | ||
| Q2 24 | $-48.2M | — | ||
| Q1 24 | $-85.6M | — |
| Q4 25 | — | 11.3% | ||
| Q3 25 | — | 51.1% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 78.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -2196.1% | -387.7% | ||
| Q3 25 | -1602.2% | -262.0% | ||
| Q2 25 | -2763.5% | -652.3% | ||
| Q1 25 | -2387.4% | -401.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -697.1% | -373.5% | ||
| Q3 25 | -1167.5% | -293.9% | ||
| Q2 25 | -8741.8% | -642.2% | ||
| Q1 25 | 559.0% | -214.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-0.14 | $-0.05 | ||
| Q3 25 | $-0.31 | $-0.06 | ||
| Q2 25 | $-0.81 | $-0.07 | ||
| Q1 25 | $0.05 | $-0.04 | ||
| Q4 24 | $-0.40 | — | ||
| Q3 24 | $-0.54 | — | ||
| Q2 24 | $-0.29 | — | ||
| Q1 24 | $-0.52 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $156.7M | $29.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $45.9M | $214.8M |
| Total Assets | $922.7M | $272.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $156.7M | $29.5M | ||
| Q3 25 | $234.4M | $35.3M | ||
| Q2 25 | $284.1M | $11.8M | ||
| Q1 25 | $22.5M | $56.1M | ||
| Q4 24 | $15.7M | — | ||
| Q3 24 | $83.7M | — | ||
| Q2 24 | $10.9M | — | ||
| Q1 24 | $25.0M | — |
| Q4 25 | $45.9M | $214.8M | ||
| Q3 25 | $68.2M | $228.2M | ||
| Q2 25 | $98.9M | $249.2M | ||
| Q1 25 | $238.2M | $269.9M | ||
| Q4 24 | $180.4M | — | ||
| Q3 24 | $241.4M | — | ||
| Q2 24 | $291.6M | — | ||
| Q1 24 | $336.8M | — |
| Q4 25 | $922.7M | $272.6M | ||
| Q3 25 | $989.1M | $288.8M | ||
| Q2 25 | $1.0B | $290.5M | ||
| Q1 25 | $787.3M | $306.0M | ||
| Q4 24 | $798.4M | — | ||
| Q3 24 | $788.8M | — | ||
| Q2 24 | $719.8M | — | ||
| Q1 24 | $734.0M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-28.7M | $-10.4M |
| Free Cash FlowOCF − Capex | $-42.0M | $-11.1M |
| FCF MarginFCF / Revenue | -1559.6% | -243.7% |
| Capex IntensityCapex / Revenue | 495.1% | 15.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-183.6M | $-61.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-28.7M | $-10.4M | ||
| Q3 25 | $-38.5M | $-14.3M | ||
| Q2 25 | $-36.7M | $-10.8M | ||
| Q1 25 | $-38.9M | $-22.8M | ||
| Q4 24 | $-31.8M | — | ||
| Q3 24 | $-33.4M | — | ||
| Q2 24 | $-40.4M | — | ||
| Q1 24 | $-39.2M | — |
| Q4 25 | $-42.0M | $-11.1M | ||
| Q3 25 | $-42.4M | $-14.7M | ||
| Q2 25 | $-45.3M | $-11.6M | ||
| Q1 25 | $-53.9M | $-23.7M | ||
| Q4 24 | $-53.4M | — | ||
| Q3 24 | $-42.6M | — | ||
| Q2 24 | $-50.8M | — | ||
| Q1 24 | $-53.5M | — |
| Q4 25 | -1559.6% | -243.7% | ||
| Q3 25 | -1743.1% | -206.9% | ||
| Q2 25 | -2747.1% | -329.6% | ||
| Q1 25 | -3409.6% | -410.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 495.1% | 15.6% | ||
| Q3 25 | 160.3% | 6.0% | ||
| Q2 25 | 521.5% | 22.8% | ||
| Q1 25 | 949.6% | 15.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -4.40× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
