People are misguided taking solace in PyroGenesis' backlog. In most cases, growing backlog is good news. In this case, backlog confirms a worrisome trend....Pyrogenesis reported 2021 revenues of $31mm, and ended the year with a backlog of $47 million..but the following year, PyroGenesis reported revenues of $19 million. ..How can revenues drop from $31 million to $19 million when the company had reported the prior year's backlog was $47 million?...This trend continued last year, with the company reporting a backlog of $32 million at the end of 2022, but went on to post full year 2023 revenues of $12 million..
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from @pyrite_pirate, 9 Nov 2024, 16:25
@stogiethebest The company very obviously doesn't have the capital to execute on their contracts. 0 from @pyrite_pirate, 9 Nov 2024, 16:41
@dalesio_98 @Stogiethebest Penalty box stay over? 0 from #pyr, about 3 hours ago
Good luck to All!