PyroGenesis Canada Inc PYR CEO Peter Pascali appeared on Benzinga's YouTube show "Power Hour" Wednesday for an exclusive interview.
PyroGenesis Canada focuses on the design, development, manufacture and commercialization of advanced plasma processes.
The company uses plasma as a heat source, Pascali said, adding that plasma is the fourth state of matter.
PyroGenesis Canada uses its plasma flame torches to transform, for example, waste into energy or wire into metal powder for 3D printing, he said.
The company has multiple independent business lines, including waste treatment and iron ore pelletization, Pascali told Benzinga.
The company is coming off of a record quarter following a record year, Pascali said, adding that the company had more revenue last quarter than it did in all of 2019.
PyroGenesis Earnings Recap: PyroGenesis reported first-quarter financial results Monday.
The company reported earnings of 2 cents per share, which was up from a loss of 1 cent per share reported a year earlier. It reported revenue of $6.26 million, which was up from $718,908 year-over-year.
The company has almost zero debt, Pascali told Benzinga.
The company's signed contracts increased from $7 million to about $25 million over the last 18 months, he said.
Once a contract is signed, the company anticipates its completion within 12 to 15 months, Pascali added.
PYR Price Action: PyroGenesis Canada traded as high as $9.27 and as low as $3.81 over a 52-week period.
At last check Wednesday, the stock was down 0.46% at $4.32.
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