PyroGenesis Inc T.PYR

not a pretty picture. Collage of ugly facts

[tamaracktop]

In 2021, Pyrogenesis' revenues were $31.1 million.

The company ended that year with 87 full and part time employees.

SG&A expenses were $17.474 million.



Two years later, the company reported 2023 revenues of $12.3 million.

The company had 110 employees at year-end, and SG&A expenses were $31 million.

It's pure coincidence that SG&A expenses in 2023 had grown to match what revenues had been two years earlier, but they did.

In two years revenues fell 60.5%, the company hired 23 full and part-time employees, and SG&A rose 77%, or $13.5 million.

Headcount was up 23 and SG&A was up $13 million?

That doesn't make a whole lot of sense to me.

I understand raises and bonuses, and the higher commissions the company always cites, but very simply, were those not in play, $565,000 per new hire is a back of the napkin number.

That doesn't make sense at all in light of plummeting revenues.

[BCONTVentures]

top, keep in mind that PyroGenesis' business potential has drastically increased during the past couple of years, look at the new markets PYR has entered, new patents filed/granted, the second production facility coming online, and the growth in employee headcount.  PYR is gearing up for exponential growth. It is not the size of the contracts (big contracts will come), it is the

[paul03]

Raymond Chabot has SG&A for 2021 at 29M and Pyr MD&A has it at 17.4M  ?  Not really sure why the big difference in numbers it's above my pay grade. That's what I see anyways I'm not in any finance industry so I could be out to lunch on that 

[cashbag101]

Selling General and Administrative   Selling general and administrative (SG&A) expenses comprise all direct and indirect selling costs, operational overhead costs, and administrative expenses unrelated to production and sales. SG&A often includes rent, utilities, legal fees and insurance. 

[Mostlyserious]

Thank you.  And where does one see the breakdown for those in the financial statements?  Note 23 as referenced in the statements?  As I said, the breakdown in that note does not total the amounts that are referenced in the statements.

[tamaracktop]

Thank you cashbag. I'm aware what expenses go into SG&A, but most companies don't show an inverse relationship between sales an SG&A. The negative correlation here is almost perfect.  Sales went from $31 million to $12.3 million while SG&A went from $17.5 million to $31 million. That isn't a winning formula.  Maybe they'll address that during the Q&A

[Melida]

If it means anything to you get on the conference call and ask questions.  In the normal course of business, these expenses are incurred before the sales.  What exactly are you trying to say?