Thinking further on why there is a backlog, and why after all these years, Pyrogenesis can't make a profit, from such work.
Can Add, lots more from my research, but for starters:
"We navigated cash management challenges brought about by higher costs associated with commercializing our technologies, continued inflationary pressures on material and labour costs, longer sales cycles for system sales caused by the uncertain economic environment we are all facing, and multiple requests from potential customers to help them in their investigation of using plasma as a solution to their many problems,” Pascali said.
“As much of this type of work is new-use proof-of-concept, profit margins are negligible, and timelines imprecise.”
PyroGenesis eyes revenue growth from $29M backlog for its decarbonization solutions
Thoughts about what the company says on this matter?
Revenue/sales is a start, but what other issues do people see in profitability?