Mycelx Technologies H1 revenue rises on paid trials, equipment leases

Overview

• US water treatment tech firm's H1 2026 revenue rose to $2.1 mln from $1.7 mln yr/yr

• Company expects stronger H2 as $3.9 mln Permian Basin project revenue recognized in Q3

• Management says FY2026 revenue on track, with 80% of forecast already booked or recurring

Outlook

• MYCELX expects FY2026 revenue of $11.0 mln, with 80% already booked or contracted

• Company sees stronger H2 performance as major projects progress and recurring revenue increases

• MYCELX says final 2026 revenue depends on project delivery timelines and potential new wins

Result Drivers

• RECURRING SALES - Paid trials, equipment leases, and recurring media sales were main contributors to H1 revenue growth

• OFFSHORE PROJECTS - Additional offshore work in the Gulf of Mexico and accelerated filter media sales supported recurring revenue

• PIPELINE EXPANSION - Company built largest opportunity pipeline in its history, spanning produced water and PFAS treatment projects

Company press release: ID:nRSd4493Oa

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "strong buy"

• The average consensus recommendation for the environmental services equipment peer group is "buy."

• Wall Street's median 12-month price target for MYCELX Technologies Corp is GBp86.00, about 53.6% above its July 29 closing price of GBp56.00

• The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 109 three months ago

Reuters Recommended Reads

• July 28 - Xylem raises annual profit forecast as AI growth lifts demand for water-treatment equipment

• July 28 - Veralto Q2 results beat estimates on industrial water treatment demand; raises outlook

• July 28 - NOV Inc Q2 revenue beats estimates, helped by offshore project strength

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)